INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Earnings before Income Taxes

Earnings before income taxes were as follows:

(in thousands)	For the Years Ended December 31,
	2024		2023		2022
Domestic	$	897,336	$	889,133	$	684,661
International	212,495		172,043		175,311
	$	1,109,831	$	1,061,176	$	859,972

Schedule of Components of Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes comprised the following:

(in thousands)	For the Years Ended December 31,
	2024		2023		2022
Current
Federal	$	168,042	$	191,274	$	150,099
State	37,112		40,369		30,529
International	41,004		32,797		35,138
	246,158		264,440		215,766
Deferred
Federal	(24,642)		(36,501)		(31,663)
State	(4,709)		(6,462)		(5,735)
International	5,157		(5,343)		2,515
	(24,194)		(48,306)		(34,883)
	$	221,964	$	216,134	$	180,883

Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes differs from the amounts computed by applying the statutory federal income tax rate as follows:

	For the Years Ended December 31,
	2024		2023		2022
U.S. federal statutory rate	21.0	%	21.0	%	21.0	%
State income tax, net of federal tax benefit	2.4		2.7		2.3
Taxation on international earnings	(0.2)		(0.1)		0.6
Foreign derived intangible income	(1.3)		(1.4)		(1.7)
Share-based compensation from settlements	(1.8)		(1.3)		(1.5)
Research and development credit	(1.0)		(1.2)		(1.1)
Other, net	0.9		0.7		1.4
Effective tax rate	20.0	%	20.4	%	21.0	%

Schedule of Components of Net Deferred Tax Assets and Liabilities

The components of the net deferred tax assets (liabilities) included in the accompanying consolidated balance sheets are as follows:

(in thousands)	December 31, 2024		December 31, 2023
Assets
Accrued expenses	$	56,325	$	44,043
Accounts receivable reserves	3,444		2,700
Deferred revenue	5,743		6,427
Inventory basis differences	24,040		24,500
Property-based differences	16,802		18,036
Intangible asset basis differences	41,628		47,089
Share-based compensation	14,335		12,061
Other	1,878		2,267
Net operating loss carryforwards	6,647		9,007
Tax credit carryforwards	13,382		12,824
Unrealized losses on foreign currency exchange contracts and investments	1,357		821
Research and development expenditure differences	92,856		66,705
Total assets	278,437		246,480
Valuation allowance	(31,927)		(34,793)
Total assets, net of valuation allowance	246,510		211,687
Liabilities
Customer acquisition costs	(46,892)		(39,318)
Property-based differences	(53,332)		(52,235)
Intangible asset basis differences	(10,443)		(6,335)
Other	(14,867)		(11,639)
Unrealized gains on foreign currency exchange contracts and investments	(6,658)		(1,813)
Total liabilities	(132,192)		(111,340)
Net deferred tax assets	$	114,318	$	100,347

Schedule of Valuation Allowance

The following table summarizes the changes in valuation allowance for deferred tax assets:

(in thousands)	For the Years Ended December 31,
	2024		2023		2022
Balance at beginning of year	$	34,793	$	39,726	$	39,280
Charges to costs and expense	698		21		2,200
Write-off/cash payments	(1,289)		(7,846)		(1,537)
Foreign currency translation	(2,275)		2,892		(217)
Balance at the end of the year	$	31,927	$	34,793	$	39,726

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the changes in unrecognized tax positions:

(in thousands)	For the Years Ended December 31,
	2024		2023		2022
Total amounts of unrecognized tax benefits, beginning of period	$	22,320	$	22,547	$	21,789
Gross increases in unrecognized tax positions as a result of tax positions taken during a prior period	41		6,366		342
Gross increases in unrecognized tax positions as a result of tax positions taken in the current period	3,034		3,987		3,197
Decreases in unrecognized tax positions related to settlements with taxing authorities	(678)		(7,535)		(1,544)
Decreases in unrecognized tax positions as a result of a lapse of the applicable statutes of limitations	(6,571)		(3,045)		(1,237)
Total amounts of unrecognized tax benefits, end of period	$	18,146	$	22,320	$	22,547