Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of United States and Foreign Components of Income Before Income Taxes

The United States and foreign components of income before income taxes are as follows:

	Year Ended December 31,
	2021		2020		2019
	(In thousands)
United States	$	(252,459)	$	43,003	$	31,932
Foreign	419,606		511,877		477,568
Total	$	167,147	$	554,880	$	509,500

Schedule of Components of the Provision for Income Taxes

The components of the provision for income taxes are as follows:

	Year Ended December 31,
	2021		2020		2019
	(In thousands)
Current:
Federal	$	(12,852)	$	5,513	$	7,718
Foreign	31,532		49,862		63,205
State	1,817		(967)		1,697
Total current	20,497		54,408		72,620
Deferred:
Federal	(25,637)		(10,940)		(35,932)
Foreign	(127,536)		4,160		(209,010)
State	(7,676)		2,806		9
Total deferred	(160,849)		(3,974)		(244,933)
Total provision	$	(140,352)	$	50,434	$	(172,313)

Schedule of Components of Deferred Tax Assets and Liabilities

The following table presents the breakdown of net deferred tax assets:

	December 31,
	2021		2020
	(In thousands)
Deferred tax assets	$	417,016	$	386,504
Deferred tax liabilities	(6,778)		(3,185)
Total net deferred tax assets	$	410,238	$	383,319

The significant components of the Company’s deferred tax assets and liabilities consisted of the following:

	December 31,
	2021		2020
	(In thousands)
Deferred tax assets:
Accruals and reserves	$	56,186	$	59,515
Deferred revenue	24,280		34,596
Tax credits	155,861		146,470
Net operating losses	107,807		54,882
Stock based compensation	58,561		45,346
Swiss tax reform	331,082		261,090
Acquired technology	—		2,346
Interest expense limitation - 163(j)	39,752		—
Valuation allowance	(122,491)		(151,791)
Total deferred tax assets	651,038		452,454
Deferred tax liabilities:
Acquired technology	(161,170)		—
Depreciation and amortization	(24,595)		(23,445)
Prepaid expenses	(53,886)		(42,717)
Other	(1,149)		(2,973)
Total deferred tax liabilities	(240,800)		(69,135)
Total net deferred tax assets	$	410,238	$	383,319

Schedule of Reconciliation of The Company's Effective Tax Rate to The Statutory Federal Rate

A reconciliation of the Company’s effective tax rate to the statutory federal rate is as follows:

	Year Ended December 31,
	2021		2020		2019
Federal statutory taxes	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	(5.5)		0.3		0.3
Foreign operations	1.9		(5.1)		(5.8)
Permanent differences	6.2		2.2		3.0
Tax reform - Switzerland	(49.9)		—		(48.2)
Favorable impact from tax ruling	(11.6)		—		—
Change in valuation allowance reserve	(21.0)		3.4		7.4
Tax credits	(29.3)		(8.1)		(8.4)
Stock-based compensation	(5.1)		(3.0)		(1.9)
Change in accruals for uncertain tax positions	11.1		(2.5)		(1.1)
Other	(1.8)		0.9		(0.1)
	(84.0)	%	9.1	%	(33.8)	%

Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2021, 2020 and 2019 is as follows (in thousands):

Balance at December 31, 2018	$	89,906
Additions based on tax positions related to the current year	11,244
Additions for tax positions of prior years	3,414
Reductions related to the expiration of statutes of limitations	(20,098)
Balance at December 31, 2019	84,466
Additions based on tax positions related to the current year	15,182
Additions for tax positions of prior years	13,765
Reductions related to the expiration of statutes of limitations	(15,553)
Reductions related to audit settlements	(19,975)
Reductions for tax positions of prior years	(3,203)
Balance at December 31, 2020	74,682
Additions based on tax positions related to the current year	16,949
Additions for tax positions of prior years	11,913
Reductions related to the expiration of statutes of limitations	(2)
Balance at December 31, 2021	$	103,542