Provision for Income Taxes (Tables)

12 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income (loss) before income taxes is as follows: 

(In thousands)	Year Ended March 31, 2023		Three Months Ended March 31, 2022 (Transition Period)		Year Ended December 31, 2021		Year Ended December 31, 2020
Income (loss) before income taxes
United States	$	27,650	$	(88,789)	$	191,201	$	(478,465)
Foreign	260,115		36,628		199,676		(14,079)
Total	$	287,765	$	(52,161)	$	390,877	$	(492,544)

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense (benefit) consisted of the following: 

(In thousands)	Year Ended March 31, 2023		Three Months Ended March 31, 2022 (Transition Period)		Year Ended December 31, 2021		Year Ended December 31, 2020
Current
Federal	$	18,483	$	331	$	(2,454)	$	(30,047)
State	3,771		99		864		34
Foreign	29,103		10,251		36,304		16,720
	51,357		10,681		34,714		(13,293)
Deferred
Federal	(159,277)		159		5,148		50,620
State	215		(4)		(3,645)		587
Foreign	6,659		(2,655)		(4,145)		11,473
	(152,403)		(2,500)		(2,642)		62,680
Income tax expense (benefit)	$	(101,046)	$	8,181	$	32,072	$	49,387

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation from the U.S. statutory federal income tax rate to the effective income tax rate is as follows: 

	Year Ended March 31, 2023				Three Months Ended March 31, 2022 (Transition Period)				Year Ended December 31, 2021				Year Ended December 31, 2020
U.S. federal statutory income tax rate	$	60,431	21.0	%	$	(10,954)	21.0	%	$	82,086	21.0	%	$	(103,434)	21.0	%
State taxes, net of federal tax impact	8,800		3.0	%	(5,314)		10.2	%	23,508		6.0	%	(29,341)		6.0	%
Effect of foreign earnings	(2,019)		(0.7)	%	(361)		0.7	%	(10,697)		(2.7)	%	(762)		0.2	%
Permanent tax benefits/nondeductible expenses	(9,330)		(3.2)	%	(900)		1.7	%	(12,343)		(3.2)	%	15,993		(3.2)	%
Permanent tax benefits/nondeductible losses - divestitures	—		—	%	(552)		1.1	%	7,317		1.9	%	(118,321)		24.0	%
Unrecognized tax benefits	11,560		4.0	%	750		(1.4)	%	9,813		1.1	%	2,260		(0.5)	%
Impacts related to U.S. Tax Act	—		—	%	—		—	%	—		—	%	(13,987)		2.8	%
Valuation allowance	(170,414)		(59.2)	%	26,223		(50.3)	%	(63,418)		(14.9)	%	302,575		(61.4)	%
Other	(74)		—	%	(711)		1.3	%	(4,194)		(1.1)	%	(5,596)		1.1	%
Effective income tax rate	$	(101,046)	(35.1)	%	$	8,181	(15.7)	%	$	32,072	8.2	%	$	49,387	(10.0)	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consisted of the following: 

(In thousands)	March 31, 2023		March 31, 2022		December 31, 2021
Deferred tax assets
Operating lease liabilities	$	213,381	$	191,342	$	197,682
U.S. Federal and State Capital Loss	45,099		57,200		57,097
Reserves and accrued liabilities	44,401		61,846		41,943
Capitalized research expenditures	35,539		8,646		—
Inventory	33,768		18,862		26,860
Foreign net operating loss carry-forwards	33,492		38,069		33,875
Intangible assets	22,923		25,935		26,281
U.S. state net operating loss	13,708		17,438		16,636
Allowance for doubtful accounts and sales return reserves	13,112		15,168		14,940
Foreign tax credits	9,522		9,423		8,606
Stock-based compensation	8,076		6,299		11,301
Deductions limited by income	5,957		6,083		3,288
U.S. tax credits	4,567		7,970		7,273
Convertible debt instruments	725		1,196		—
Other	8,674		8,896		5,490
Total deferred tax assets	492,944		474,373		451,272
Less: valuation allowance	(175,185)		(350,610)		(318,221)
Total net deferred tax assets	$	317,759	$	123,763	$	133,051
Deferred tax liabilities
Right-of-use asset	$	(122,286)	$	(93,541)	$	(98,085)
Convertible debt instruments	—		—		(1,066)
Prepaid expenses	(4,875)		(8,012)		(8,356)
Property, plant and equipment	(3,862)		(1,913)		(7,018)
Other	(1,888)		(2,042)		(3,743)
Total deferred tax liabilities	(132,911)		(105,508)		(118,268)
Total deferred tax assets, net	$	184,848	$	18,255	$	14,783

Schedule of Unrecognized Tax Benefits Roll Forward

The following table represents a reconciliation of the Company's total unrecognized tax benefits balances, excluding interest and penalties.

(In thousands)	Year Ended March 31, 2023		Three Months Ended March 31, 2022 (Transition Period)		Year Ended December 31, 2021		Year Ended December 31, 2020
Beginning of period	$	49,842	$	49,125	$	40,314	$	41,194
Increases as a result of tax positions taken in a prior period	4,987		159		6,713		1,738
Decreases as a result of tax positions taken in a prior period	(598)		(37)		(332)		(2,309)
Increases as a result of tax positions taken during the current period	4,594		595		2,430		2,142
Decreases as a result of settlements during the current period	—		—		—		(1,500)
Reductions as a result of divestiture	—		—		—		(951)
End of period	$	58,825	$	49,842	$	49,125	$	40,314