Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income before Income Taxes

Below is a summary of the components of the Company's income (loss) before income taxes for the years ended December 31 (in thousands).

	2019		2018		2017
U.S.	$	115,543	$	34,159	$	(135,757	)
Non-U.S.	160,196		146,962		7,940
Income (loss) before income taxes	$	275,739	$	181,121	$	(127,817	)

Schedule of Components of Income Tax

The components of the expense (benefit) for income taxes on the above income (loss) are summarized in the table below (in thousands).

	2019			2018			2017
Current tax expense:
U.S. federal	$	30,208		$	2,817		$	48,339
State and local	11,630			6,969			434
Foreign	53,105			45,042			38,602
Total current	94,943			54,828			87,375
Deferred tax (benefit) expense:
U.S. federal	(16,389		)	12,462			(176,046		)
State and local	(6,897		)	1,258			(14,363		)
Foreign	(48,186		)	(13,795		)	(25,898		)
Total deferred	(71,472		)	(75		)	(216,307		)
Total current and deferred	23,471			54,753			(128,932		)
Benefit (expense) relating to interest rate swaps used to increase (decrease) equity	17,666			3,840			(2,477		)
Benefit from stock transactions with employees used to increase equity	54			58			46
Benefit relating to defined-benefit pension adjustments used to increase equity	1,258			14			267
Total tax expense (benefit)	$	42,449		$	58,665		$	(131,096	)

Schedule of Deferred Tax Assets and Liabilities

The components of long-term deferred tax assets (liabilities) are summarized in the table below (in thousands).

	December 31,
	2019			2018
Accrued liabilities	$	67,577		$	96,292
Operating leases	54,860			—
Loss and credit carryforwards	14,372			14,830
Assets relating to equity compensation	16,842			19,653
Other assets	20,364			14,092
Gross deferred tax assets	174,015			144,867
Property, equipment and leasehold improvements	(15,137		)	(3,421		)
Intangible assets	(212,498		)	(263,548		)
Prepaid expenses	(49,221		)	(41,926		)
Other liabilities	(5,799		)	(12,100		)
Gross deferred tax liabilities	(282,655		)	(320,995		)
Valuation allowance	(1,556		)	(4,066		)
Net deferred tax liabilities	$	(110,196	)	$	(180,194	)

Schedule of Effective Income Tax Rate Reconciliation

The items comprising the differences between the U.S. federal statutory income tax rate and the Company’s effective tax rate on income before income taxes for the years ended December 31 are summarized in the table below.

	2019		2018		2017
Statutory tax rate	21.0	%	21.0	%	35.0	%
State income taxes, net of federal benefit	1.5		—		3.6
Effect of non-U.S. operations	2.7		(10.7	)	5.9
Intercompany sale of intellectual property	(13.8	)	—		—
Change in the reserve for tax contingencies	4.7		15.7		(2.8	)
Law changes	—		(1.3	)	41.8
Stock-based compensation expense	(3.9	)	(5.3	)	11.0
Nondeductible acquisition costs	—		0.9		(7.9	)
Nondeductible meals and entertainment costs	1.7		2.7		(3.5	)
Gains/Losses on divested operations and held-for-sale assets	—		12.2		13.1
Limitation on executive compensation	2.4		2.7		(0.1	)
Global intangible low-taxed income, net of foreign tax credits	1.9		0.1		—
Foreign-derived intangible income	(1.0	)	(2.0	)	—
Change in the valuation allowance	(0.9	)	0.5		3.0
Goodwill	—		(3.8	)	—
Other items, net	(0.9	)	(0.3	)	3.5
Effective tax rate	15.4	%	32.4	%	102.6	%

Schedule of Reconciliation of Beginning and Ending Unrecognized Tax Benefits

The table below is a reconciliation of the beginning and ending amounts of gross unrecognized tax benefits, excluding interest and penalties, for the years ended December 31 (in thousands).

	2019			2018
Beginning balance	$	90,349		$	60,269
Additions based on tax positions related to the current year	32,072			27,371
Additions for tax positions of prior years	8,564			14,691
Reductions for tax positions of prior years	(16,942		)	(3,939		)
Reductions for expiration of statutes	(7,481		)	(6,293		)
Settlements	(3,867		)	(472		)
Change in foreign currency exchange rates	75			(1,278		)
Ending balance	$	102,770		$	90,349