INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Income before Income Taxes

U.S. and foreign earnings (loss) before income taxes and noncontrolling interests are as follows:

	Years Ended December 31,
	2019		2018		2017
	(In thousands)
U.S.	$	370,073	$	630,417	$	(52,606	)
Foreign	124,438		131,141		119,564
Total	$	494,511	$	761,558	$	66,958

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax provision (benefit) are as follows:

	Years Ended December 31,
	2019			2018			2017
	(In thousands)
Current income tax provision (benefit):
Federal	$	278		$	(2,849	)	$	(31,844	)
State	807			2,569			1,964
Foreign	29,707			38,770			24,108
Current income tax provision (benefit)	30,792			38,490			(5,772		)
Deferred income tax provision (benefit):
Federal	(52,985		)	(21,792		)	(255,477		)
State	(25,128		)	172			(28,364		)
Foreign	(1,988		)	(13,059		)	(1,437		)
Deferred income tax benefit	(80,101		)	(34,679		)	(285,278		)
Income tax (benefit) provision	$	(49,309	)	$	3,811		$	(291,050	)

Schedule of Deferred Tax Assets and Liabilities

The tax effects of cumulative temporary differences that give rise to significant deferred tax assets and deferred tax liabilities are presented below. The valuation allowance relates to deferred tax assets for which it is more likely than not that the tax benefit will not be realized.

	December 31,
	2019			2018
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	340,472		$	291,639
Tax credit carryforwards	117,286			89,397
Stock-based compensation	79,108			82,698
Long-term lease liabilities	52,748			—
Other	71,328			53,631
Total deferred tax assets	660,942			517,365
Less valuation allowance	(129,620		)	(115,853		)
Net deferred tax assets	531,322			401,512
Deferred tax liabilities:
Investment in subsidiaries	(235,920		)	(238,650		)
Intangible assets	(70,830		)	(77,669		)
Right-of-use assets	(39,226		)	—
Investment in Pinterest	—			(22,927		)
Other	(39,680		)	(21,080		)
Total deferred tax liabilities	(385,656		)	(360,326		)
Net deferred tax assets	$	145,666		$	41,186

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the income tax (benefit) provision to the amounts computed by applying the statutory federal income tax rate to earnings before income taxes is shown as follows:

	Years Ended December 31,
	2019			2018			2017
	(In thousands)
Income tax provision at the federal statutory rate of 21% (35% for 2017)	$	103,847		$	159,927		$	23,435
State income taxes, net of effect of federal tax benefit	6,146			16,794			782
Stock-based compensation	(135,179		)	(129,654		)	(358,901		)
Research credits	(33,377		)	(14,276		)	(6,947		)
Realization of certain deferred tax assets	(9,281		)	(13,200		)	(3,133		)
Foreign income taxed at a different statutory tax rate	(3,333		)	(3,206		)	(14,725		)
Deferred tax adjustment for enacted changes in tax laws and rates	890			(7,488		)	705
Non-deductible impairments for certain cost method investments	—			—			2,669
Transition tax	—			(9,190		)	62,667
Withholding taxes	7,304			5,165			562
Other, net	13,674			(1,061		)	1,836
Income tax (benefit) provision	$	(49,309	)	$	3,811		$	(291,050	)

Schedule of Income Tax Contingencies

A reconciliation of the beginning and ending amount of unrecognized tax benefits, including penalties but excluding interest, is as follows:

	December 31,
	2019			2018			2017
	(In thousands)
Balance at January 1	$	48,875		$	36,732		$	38,372
Additions based on tax positions related to the current year	14,000			10,334			2,050
Additions for tax positions of prior years	8,949			4,716			1,994
Reductions for tax positions of prior years	(289		)	(400		)	(3,761		)
Settlements	—			—			—
Expiration of applicable statutes of limitations	(1,302		)	(2,507		)	(1,923		)
Balance at December 31	$	70,233		$	48,875		$	36,732