Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Net income before provision for income taxes consists of the following (in thousands):

	Year Ended December 31,
	2024		2023		2022
Domestic	$	334,485	$	315,643	$	268,097
Foreign	274,474		325,561		330,960
Net income before provision for income taxes	$	608,959	$	641,204	$	599,057

Schedule of Components of Income Tax Expense (Benefit)

The provision for (benefit from) income taxes consists of the following (in thousands):

	Year Ended December 31,
	2024		2023		2022
Federal
Current	$	95,027	$	134,332	$	188,050
Deferred	1,578		(16,805)		(55,579)
	96,605		117,527		132,471
State
Current	13,702		28,535		34,621
Deferred	3,384		(3,157)		(12,265)
	17,086		25,378		22,356
Foreign
Current	56,653		51,306		56,537
Deferred	17,253		1,940		26,120
	73,906		53,246		82,657
Provision for (benefit from) income taxes	$	187,597	$	196,151	$	237,484

Schedule of Effective Income Tax Rate Reconciliation

The differences between income taxes using the federal statutory income tax rate for the year ended December 31, 2024, 2023 and 2022 and our effective tax rates are as follows: 

	Year Ended December 31,
	2024		2023		2022
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	2.2		2.9		3.7
U.S. tax on foreign earnings	5.4		3.7		5.6
Impact of differences in foreign tax rates	(2.0)		1.4		3.3
Stock-based compensation	3.4		3.0		2.1
Settlement on audits	—		0.1		1.9
Change in valuation allowance	0.9		(1.3)		1.7
Other items not individually material	(0.1)		(0.2)		0.3
Effective tax rate	30.8	%	30.6	%	39.6	%

Schedule of Deferred Tax Assets and Liabilities

As of December 31, 2024 and 2023, the significant components of our deferred tax assets and liabilities are (in thousands):

	December 31,
	2024		2023
Deferred tax assets:
Net operating loss and capital loss carryforwards	$	2,741	$	1,389
Reserves and accruals	67,221		62,891
Stock-based compensation	29,255		25,054
Deferred revenue	146,509		142,082
Capitalized research & development	32,027		41,505
Amortizable tax basis in intangibles	1,301,338		1,325,236
Other	12,282		13,228
Deferred tax assets before valuation allowance	1,591,373		1,611,385
Valuation allowance	(19,390)		(14,991)
Total deferred tax assets	$	1,571,983	$	1,596,394
Deferred tax liabilities:
Depreciation and amortization	$	16,485	$	7,814
Acquisition-related intangibles	28,868		25,097
Other	4,511		3,570
Total deferred tax liabilities	49,864		36,481
Net deferred tax assets	$	1,522,119	$	1,559,913

Schedule of Unrecognized Tax Benefits Rollforward

The changes in the balance of gross unrecognized tax benefits, which exclude interest and penalties, for the year ended December 31, 2024, 2023 and 2022, are as follows (in thousands):

	Year Ended December 31,
	2024		2023		2022
Gross unrecognized tax benefits at January 1,	$	149,172	$	141,560	$	63,295
Increases related to tax positions taken during the current year	12,264		8,616		84,249
Increases related to tax positions taken during a prior year	2,031		5,647		15,411
Decreases related to tax positions taken during a prior year	(3,924)		(533)		(2,647)
Decreases related to expiration of statute of limitations	(14,009)		(3,654)		(4,582)
Decreases related to settlement with tax authorities	—		(2,464)		(14,166)
Gross unrecognized tax benefits at December 31,	$	145,534	$	149,172	$	141,560