Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Earnings Before Income Taxes

Earnings before income taxes for the years ended December 31, 2017, 2016 and 2015 consisted of the following components (in thousands):

	2017		2016		2015
United States	$	783,654	$	721,000	$	710,614
Other	251,069		219,652		291,731
	$	1,034,723	$	940,652	$	1,002,345

Schedule of Components of Income Tax Expense (Benefit)

Components of income tax expense for the years ended December 31, 2017, 2016 and 2015 were as follows (in thousands):

	2017			2016			2015
Current:
Federal	$	316,031		$	239,217		$	229,224
State	29,768			21,779			22,041
Foreign	89,894			54,937			71,507
Deferred:
Federal	(358,300		)	(26,760		)	6,710
State	(3,670		)	189			(16,844		)
Foreign	(10,772		)	(7,355		)	(6,360		)
	$	62,951		$	282,007		$	306,278

Schedule of Effective Income Tax Rate Reconciliation

Reconciliations between the statutory federal income tax rate and the effective income tax rate for the years ended December 31, 2017, 2016 and 2015 were as follows:

	2017		2016		2015
Federal statutory rate	35.0	%	35.0	%	35.0	%
Foreign rate differential	(2.6	)	(3.2	)	(3.3	)
R&D tax credits	(0.8	)	(0.7	)	(0.5	)
State taxes, net of federal benefit	1.9		1.9		2.0
Section 199 deduction	(1.3	)	(1.5	)	(1.3	)
Stock-based compensation	(3.9	)	(1.6	)	—
Tax Cuts and Jobs Act of 2017	(20.8	)	—		—
Other, net	(1.4	)	0.1		(1.3	)
	6.1	%	30.0	%	30.6	%

Schedule of Deferred Tax Assets and Liabilities

Components of the deferred tax assets and liabilities at December 31 were as follows (in thousands):

	2017			2016
Deferred tax assets:
Reserves and accrued expenses	$	121,509		$	186,120
Inventories	5,094			8,967
Net operating loss carryforwards	71,774			87,010
R&D credits	9,570			7,933
Foreign tax credits	—			9,203
Valuation allowance	(25,690		)	(26,009		)
Total deferred tax assets	$	182,257		$	273,224
Deferred tax liabilities:
Reserves and accrued expenses	$	39,566		$	13,915
Amortizable intangible assets	935,874			1,400,792
Plant and equipment	5,748			6,102
Total deferred tax liabilities	$	981,188		$	1,420,809

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	2017			2016			2015
Beginning balance	$	38,678		$	26,140		$	28,567
Additions for tax positions of prior periods	24,804			3,450			3,525
Additions for tax positions of the current period	4,174			9,012			3,299
Additions due to acquisitions	—			5,049			6,177
Reductions for tax positions of prior periods	(11,162		)	(1,165		)	(12,206		)
Reductions attributable to settlements with taxing authorities	(1,536		)	(568		)	(142		)
Reductions attributable to lapses of applicable statute of limitations	(2,769		)	(3,240		)	(3,080		)
Ending balance	$	52,189		$	38,678		$	26,140