Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense (benefit) for 2020, 2019 and 2018 consists of the following:


	For the Years Ended
(In thousands)	2020		2019		2018

Current:
Federal	$	131,741	$	45,575	$	89,551
State	30,565		13,429		24,804
Foreign	47,577		14,929		22,009
Total current expense	209,883		73,933		136,364
Deferred:
Federal	(4,469)		30,353		31,129
State	(96)		11,747		8,144
Foreign	6,067		9,025		(4,845)
Total deferred expense	1,502		51,125		34,428

Total income tax expense	$	211,385	$	125,058	$	170,792

Schedule of Deferred Tax Assets and Liabilities

Temporary differences between the financial statement carrying amounts and tax basis of assets and liabilities that give rise to significant portions of deferred income taxes at the end of 2020 and 2019 relate to the following:


(In thousands)	2020		2019

Deferred tax assets:
Accrued expenses	$	63,080	$	31,995
Tax credits and separate return net operating losses	17,976		19,186
Contract and service revenues and costs	9,383		—
Share-based compensation	49,650		52,643
Lease liability	23,928		29,939
Other	17,554		12,701
Gross deferred tax assets	181,571		146,464
Less: Valuation Allowance	(3,384)		—
Total deferred tax assets	178,187		146,464

Deferred tax liabilities:
Software development costs	(270,041)		(247,217)
Property and equipment	(204,568)		(171,267)
Prepaid expenses	(37,547)		(39,311)
Contract and service revenues and costs	—		(12,112)
Lease right-of-use assets	(20,639)		(28,100)
Other	(9,260)		(10,549)
Total deferred tax liabilities	(542,055)		(508,556)

Net deferred tax liability	$	(363,868)	$	(362,092)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The effective income tax rates for 2020, 2019, and 2018 were 21%, 19%, and 21%, respectively. A reconciliation of the effective income tax rates to the U.S. federal statutory rate of 21% is follows:


	For the Years Ended
(In thousands)	2020		2019		2018

Tax expense at statutory rates	$	208,209	$	137,447	$	168,179
State income tax, net of federal benefit	24,234		18,561		25,321
Tax credits	(21,254)		(22,750)		(19,737)
Foreign rate differential	1,973		(6,328)		(4,851)
Share-based compensation	(1,303)		(8,090)		(1,696)
Permanent differences	(6,534)		3,278		6,224
Other, net	6,060		2,940		(2,648)

Total income tax expense	$	211,385	$	125,058	$	170,792

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

A reconciliation of the beginning and ending amount of unrecognized tax benefit is presented below:


(In thousands)	2020		2019		2018

Unrecognized tax benefit - beginning balance	$	19,125	$	18,688	$	15,287
Gross decreases - tax positions in prior periods	(3,964)		(2,383)		—
Gross increases - tax positions in prior periods	312		1,220		1,591
Gross increases - tax positions in current year	6,595		1,607		2,370
Settlements	—		—		(541)
Currency translation	136		(7)		(19)

Unrecognized tax benefit - ending balance	$	22,204	$	19,125	$	18,688