Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

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:

	2018		2017		2016
	(In thousands)
Income before income taxes and equity in earnings in affiliates
United States	$	131,261	$	130,205	$	139,937
Foreign	18,056		21,732		9,540
Income before income taxes and equity in earnings in affiliates	$	149,317	$	151,937	$	149,477

Components of taxes on income (loss)

The provision for income taxes consists of the following components:

	2018			2017			2016
	(In thousands)
Federal income taxes:
Current	$	9,340		$	13,928		$	5,801
Deferred	(2,195		)	(3,803		)	(3,541		)
	7,145			10,125			2,260
State income taxes:
Current	3,050			3,337			2,764
Deferred	(1,889		)	(2,269		)	(1,792		)
	1,161			1,068			972
Foreign income taxes:
Current	497			(11,545		)	5,302
Deferred	5,314			18,310			(630		)
	5,811			6,765			4,672
Total U.S. and foreign provision for income taxes	$	14,117		$	17,958		$	7,904

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 21% and the effective income tax rate is as follows:

	2018			2017			2016
	(In thousands)
Provisions using statutory federal income tax rate	$	31,340		$	53,175		$	52,317
State income taxes (benefit), net of federal tax benefit	1,915			(776		)	1,161
REIT Benefit	(19,992		)	(43,554		)	(41,479		)
Change in valuation allowance	(1,245		)	2,055			243
Federal tax credits	(1,904		)	(2,016		)	(2,038		)
Tax Cut and Jobs Act Impact	(301		)	9,584			—
Other, net	4,304			(510		)	(2,300		)
Total provision for income taxes	$	14,117		$	17,958		$	7,904

Components of deferred tax assets and liabilities

The following table presents the breakdown between non-current net deferred tax assets as of December 31, 2018 and 2017:

	2018			2017
	(In thousands)
Deferred tax assets - non current	$	29,924		$	26,277
Deferred tax liabilities - non current	(13,681		)	(8,757		)
Total net deferred tax assets	$	16,243		$	17,520

The significant components of the Company's deferred tax assets and liabilities consisted of the following as of December 31, 2018 and 2017:

	2018			2017
Deferred tax assets:	(In thousands)
Net operating losses	$	35,924		$	45,041
Accrued liabilities	23,719			25,384
Deferred compensation	12,031			11,675
Accrued compensation	6,881			6,854
Deferred revenue	8,458			2,780
Tax credits	6,850			6,629
Equity awards	4,419			4,076
Other, net	—			959
Valuation allowance	(21,333		)	(22,577		)
Total deferred tax assets	$	76,949		$	80,821
Deferred tax liabilities:
Intangible assets	$	(26,543	)	$	(30,084	)
Capitalized transaction costs	(16,643		)	(17,955		)
Depreciation	(17,400		)	(15,262		)
Other, net	(120		)	—
Total deferred tax liabilities	$	(60,706	)	$	(63,301	)
Total net deferred tax assets	$	16,243		$	17,520

Reconciliation of unrecognized tax benefits

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

	2018			2017			2016
	(In thousands)
Balance at Beginning of Period	$	4,461		$	1,640		$	1,571
Additions based on tax positions related to the current year	—			—			1,290
Additions for tax positions of prior years	298			—			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	(175		)	(10		)	(1,562		)
Balance at End of Period	$	4,584		$	4,461		$	1,640