Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

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:

	2017		2016		2015
	(In thousands)
Income before income taxes and equity in earnings in affiliates
United States	$	130,205	$	139,937	$	130,752
Foreign	21,732		9,540		10,419
Income before income taxes and equity in earnings in affiliates	$	151,937	$	149,477	$	141,171

Components of taxes on income (loss)

The provision for income taxes consists of the following components:

	2017			2016			2015
	(In thousands)
Federal income taxes:
Current	$	13,928		$	5,801		$	3,437
Deferred	(3,803		)	(3,541		)	(1,924		)
	10,125			2,260			1,513
State income taxes:
Current	3,337			2,764			683
Deferred	(2,269		)	(1,792		)	684
	1,068			972			1,367
Foreign income taxes:
Current	(11,545		)	5,302			5,643
Deferred	18,310			(630		)	(1,134		)
	6,765			4,672			4,509
Total U.S. and foreign provision for income taxes	$	17,958		$	7,904		$	7,389

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:

	2017			2016			2015
	(In thousands)
Provisions using statutory federal income tax rate	$	53,175		$	52,317		$	49,410
State income taxes (benefit), net of federal tax benefit	(776		)	1,161			(322		)
REIT Benefit	(43,554		)	(41,479		)	(42,536		)
Change in contingent tax liabilities	(510		)	(403		)	(395		)
Change in valuation allowance	2,055			243			3,702
Tax Cut and Jobs Act Impact	9,584			—			—
Other, net	(2,016		)	(3,935		)	(2,470		)
Total provision for income taxes	$	17,958		$	7,904		$	7,389

Components of deferred tax assets and liabilities

The following table presents the breakdown between non-current net deferred tax assets as of December 31, 2017 and 2016:

	2017			2016
	(In thousands)
Deferred tax assets - non current	26,277			30,039
Deferred tax liabilities - non current	(8,757		)	—
Total net deferred tax assets	$	17,520		$	30,039

The significant components of the Company's deferred tax assets and liabilities consisted of the following as of December 31, 2017 and 2016:

	2017			2016
Deferred tax assets:	(In thousands)
Net operating losses	$	45,041		$	32,088
Accrued liabilities	25,384			26,355
Deferred compensation	11,675			14,273
Accrued compensation	6,854			6,527
Deferred revenue	2,780			4,564
Deferred rent	506			2,469
Tax credits	6,629			4,524
Equity awards	4,076			4,296
Other, net	453			1,260
Valuation allowance	(22,577		)	(17,312		)
Total deferred tax assets	$	80,821		$	79,044
Deferred tax liabilities:
Intangible assets	$	(30,084	)	$	(40,935	)
Capitalized transaction costs	(17,955		)	(5,945		)
Depreciation	(15,262		)	(2,125		)
Total deferred tax liabilities	$	(63,301	)	$	(49,005	)
Total net deferred tax assets	$	17,520		$	30,039

Reconciliation of unrecognized tax benefits

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

	2017			2016			2015
	(In thousands)
Balance at Beginning of Period	$	1,640		$	1,571		$	2,076
Additions based on tax positions related to the current year	—			1,290			—
Additions for tax positions of prior years	—			341			—
Additions from current year acquisitions	4,121			—			—
Reductions for tax positions of prior years	(1,290		)	—			—
Reductions as a result of a lapse of applicable statutes of limitations	(10		)	(1,562		)	(505		)
Balance at End of Period	$	4,461		$	1,640		$	1,571