Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Income (loss) before income taxes and equity income

The United States and foreign components of income before income taxes and equity in earnings in affiliates are as follows:

	2016		2015		2014
	(In thousands)
Income before income taxes and equity in earnings in affiliates
United States	$	139,937	$	130,752	$	145,656
Foreign	9,540		10,419		6,454
Income before income taxes and equity in earnings in affiliates	$	149,477	$	141,171	$	152,110

Components of taxes on income (loss)

The provision for income taxes consists of the following components:

	2016			2015			2014
	(In thousands)
Federal income taxes:
Current	$	5,801		$	3,437		$	12,393
Deferred	(3,541		)	(1,924		)	(5,393		)
	2,260			1,513			7,000
State income taxes:
Current	2,764			683			4,302
Deferred	(1,792		)	684			(1,422		)
	972			1,367			2,880
Foreign income taxes:
Current	5,302			5,643			7,753
Deferred	(630		)	(1,134		)	(3,540		)
	4,672			4,509			4,213
Total U.S. and foreign provision for income taxes	$	7,904		$	7,389		$	14,093

Reconciliation of the statutory U.S. federal tax rate (35.0%) and the effective income tax rate

A reconciliation of the statutory U.S. federal tax rate of 35.00% and the effective income tax rate is as follows:

	2016			2015			2014
	(In thousands)
Provisions using statutory federal income tax rate	$	52,317		$	49,410		$	53,239
State income taxes (benefit), net of federal tax benefit	1,161			(322		)	2,510
REIT Benefit	(41,479		)	(42,536		)	(44,538		)
Change in contingent tax liabilities	(403		)	(395		)	(576		)
Change in valuation allowance	243			3,702			664
Other, net	(3,935		)	(2,470		)	2,794
Total provision for income taxes	$	7,904		$	7,389		$	14,093

Components of deferred tax assets and liabilities

The following table presents the breakdown between current and non-current net deferred tax assets as of December 31, 2016 and 2015:

	2016		2015
	(In thousands)
Deferred tax assets - current	$	—	$	27,914
Deferred tax liabilities - current (1)	—		(47		)
Deferred tax assets - non current	30,039		7,399
Deferred tax liabilities - non current	—		(11,471		)
Total net deferred tax assets	$	30,039	$	23,795

(1) Deferred tax liabilities - current is included in Accrued Expenses in the accompanying consolidated balance sheet as of December 31, 2015.

The significant components of the Company's deferred tax assets and liabilities consisted of the following as of December 31, 2016 and 2015:

	2016			2015
Deferred tax assets:	(In thousands)
Net operating losses	$	32,088		$	24,992
Accrued liabilities	26,355			26,524
Deferred compensation	14,273			12,362
Accrued compensation	6,527			5,920
Deferred revenue	4,564			5,692
Deferred rent	2,469			3,921
Tax credits	4,524			4,670
Equity awards	4,296			5,031
Other, net	1,260			1,746
Valuation allowance	(17,312		)	(17,069		)
Total deferred tax assets	$	79,044		$	73,789
Deferred tax liabilities:
Intangible assets	$	(40,935	)	$	(44,067	)
Capitalized transaction costs	(5,945		)	(3,416		)
Depreciation	(2,125		)	(2,511		)
Total deferred tax liabilities	$	(49,005	)	$	(49,994	)
Total net deferred tax assets	$	30,039		$	23,795

Reconciliation of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2016			2015			2014
	(In thousands)
Balance at Beginning of Period	$	1,571		$	2,076		$	2,766
Additions based on tax positions related to the current year	1,290			—			—
Additions for tax positions of prior years	341			—			—
Reductions as a result of a lapse of applicable statutes of limitations	(1,562		)	(505		)	(690		)
Balance at End of Period	$	1,640		$	1,571		$	2,076