Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Before Income Taxes

The components of income before income taxes are as follows:

	For the Years Ended December 31,
	2021		2020		2019
	(Amounts in thousands)
Domestic	$	81,984	$	27,545	$	(5,432	)
Foreign		71,559		31,672		31,583
Income before income taxes	$	153,543	$	59,217	$	26,151

Income Tax Provision (Benefit)

The components of the income tax provision are as follows:

	For the Years Ended December 31,
	2021		2020			2019
	(Amounts in thousands)
Components of the income tax provision (benefit):
Current	$	20,166	$	5,193		$	8,290
Deferred		5,086		(5,902	)		(5,287	)
Equity		—		—			1,737
Total	$	25,252	$	(709	)	$	4,740
Jurisdictional components of the income tax provision (benefit):
Federal	$	8,321	$	(4,741	)	$	(965	)
State		1,251		(3,011	)		(1,764	)
Foreign		15,680		7,043			7,469
Total	$	25,252	$	(709	)	$	4,740

Consolidated Deferred Tax Assets (Liabilities)

The components of deferred income taxes are as follows:

	December 31,
	2021			2020
	(Amounts in thousands)
Deferred tax assets:
Temporary timing differences:
Stock-based compensation expense	$	5,144		$	3,320
Operating leases		26,264			7,257
Other		6,586			5,774
Total temporary timing differences		37,994			16,351
Net operating loss carryforwards		10,841			1,539
Tax business credits carryforwards		1,834			5,553
Total deferred tax assets		50,669			23,443
Less: valuation allowance		(718	)		(727	)
Net deferred tax assets		49,951			22,716
Deferred tax liabilities:
Fixed assets		(7,779	)		(4,233	)
Acquired intangible assets		(43,227	)		(28,639	)
Operating lease right of use assets		(24,114	)		(5,744	)
Conversion option on convertible notes		(6,408	)		(8,651	)
Total deferred tax liabilities		(81,528	)		(47,267	)
Total net deferred tax liabilities	$	(31,577	)	$	(24,551	)

Reconciliation of Federal Statutory Rate to Effective Income Tax Rate

The reconciliation of the federal statutory rate to the effective income tax rate for the years ended December 31, 2021, 2020 and 2019 is as follows:

	For the Years Ended December 31,
	2021						2020						2019
	Amount			%			Amount			%			Amount			%
	(Amounts in thousands, except percentages)
Income before income taxes	$	153,543					$	59,217					$	26,151
Expected tax at statutory rate		32,247			21.0	%		12,436			21.0	%		5,492			21.0	%
Adjustments due to:
Difference between U.S. and foreign      tax		530			0.3	%		618			1.0	%		436			1.7	%
State income and franchise tax		1,462			1.0	%		133			0.2	%		(179	)		(0.7	%)
Business tax credits		(2,239	)		(1.5	%)		(4,660	)		(7.9	%)		(2,746	)		(10.5	%)
Permanent differences:
Stock-based compensation expense		(9,049	)		(5.9	%)		(9,243	)		(15.6	%)		(1,877	)		(7.2	%)
U.S. taxation of foreign earnings		30			0.0	%		51			0.1	%		3,096			11.8	%
Foreign-derived intangible income		(2,547	)		(1.7	%)		—			0.0	%		(869	)		(3.3	%)
Executive compensation		3,397			2.2	%		1,401			2.4	%		841			3.2	%
Other		1,930			1.3	%		896			1.5	%		92			0.4	%
Change in U.S. and foreign tax rates		32			0.0	%		(2,650	)		(4.5	%)		(193	)		(0.7	%)
Uncertain tax provisions		(443	)		(0.3	%)		(168	)		(0.3	%)		1,069			4.1	%
Change in valuation allowance		(48	)		(0.0	%)		(12	)		(0.0	%)		(125	)		(0.5	%)
Return to provision adjustments		(50	)		(0.0	%)		(89	)		(0.2	%)		(79	)		(0.3	%)
Other		(0	)		(0.0	%)		578			1.0	%		(218	)		(0.9	%)
Income tax provision	$	25,252			16.4	%	$	(709	)		(1.2	%)	$	4,740			18.1	%

Summary of Tax Returns Periods Subject to Examination by Federal, State and Foreign Tax Authorities

The Company’s tax returns are subject to examination by federal, state and foreign tax authorities. The Company’s two major tax jurisdictions are subject to examination for the following periods:

Jurisdiction	Fiscal Years Subject to Examination
United States - federal and state	2017-2021
Sweden	2016-2021

Reconciliation of Unrecognized Tax Benefits

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits:

	For the Years Ended December 31,
	2021			2020
	(Amounts in thousands)
Balance of gross unrecognized tax benefits, beginning of period	$	3,200		$	3,422
Gross amounts of increases in unrecognized tax benefits as a result      of tax positions taken in the current period		133			154
Gross amounts of decreases in unrecognized tax benefits as a result      of tax positions taken in the prior period		(500	)		(337	)
Gross amounts of decrease due to release		(47	)		(39	)
Balance of gross unrecognized tax benefits, end of period	$	2,786		$	3,200