Note 11 - Income Taxes (Tables)
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12 Months Ended |
Dec. 31, 2022 |
Notes Tables |
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Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] |
| | Year Ended December 31, | |
| | 2022 | | | 2021 | | | 2020 | |
United States | | $ | (30,190 | ) | | $ | (15,542 | ) | | $ | 39,286 | |
Foreign | | | 555,127 | | | | 287,761 | | | | 130,056 | |
Income before income taxes | | $ | 524,937 | | | $ | 272,219 | | | $ | 169,342 | |
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Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
| | Year Ended December 31, | |
| | 2022 | | | 2021 | | | 2020 | |
Current: | | | | | | | | | | | | |
Federal | | $ | 95,176 | | | $ | 24,955 | | | $ | 2,842 | |
State | | | 12 | | | | 35 | | | | (1 | ) |
Foreign | | | 5,019 | | | | 3,801 | | | | 3,814 | |
Deferred: | | | | | | | | | | | | |
Federal | | | (8,523 | ) | | | 4,929 | | | | (1,221 | ) |
Foreign | | | (4,419 | ) | | | (3,524 | ) | | | (467 | ) |
Income tax expense | | $ | 87,265 | | | $ | 30,196 | | | $ | 4,967 | |
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Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
| | Year Ended December 31, | |
| | 2022 | | | 2021 | | | 2020 | |
U.S. statutory federal tax rate | | | 21.0 | % | | | 21.0 | % | | | 21.0 | % |
Foreign income at lower rates | | | (22.8 | ) | | | (23.2 | ) | | | (15.2 | ) |
GILTI | | | 16.0 | | | | 11.4 | | | | 11.1 | |
Changes in valuation allowance | | | 0.2 | | | | 0.5 | | | | 1.6 | |
Stock-based compensation | | | 2.8 | | | | 1.6 | | | | (11.2 | ) |
Tax credits, net of reserves | | | (1.2 | ) | | | (1.1 | ) | | | (3.8 | ) |
State income taxes | | | (0.2 | ) | | | (0.5 | ) | | | (1.6 | ) |
Other adjustments | | | 0.8 | | | | 1.4 | | | | 1.0 | |
Effective tax rate | | | 16.6 | % | | | 11.1 | % | | | 2.9 | % |
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Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
| | December 31, | |
| | 2022 | | | 2021 | |
Deferred tax assets: | | | | | | | | |
Tax credits | | $ | 32,037 | | | $ | 26,302 | |
Stock-based compensation | | | 2,900 | | | | 2,027 | |
Deferred compensation | | | 9,844 | | | | 8,526 | |
Net operating losses | | | 9,000 | | | | 5,818 | |
Other expenses not currently deductible | | | 8,891 | | | | 5,151 | |
Deferred tax assets, gross | | | 62,672 | | | | 47,824 | |
Valuation allowance | | | (20,321 | ) | | | (19,520 | ) |
Deferred tax assets, net of valuation allowance | | | 42,351 | | | | 28,304 | |
Deferred tax liabilities: | | | | | | | | |
Depreciation and amortization | | | (5,927 | ) | | | (5,067 | ) |
Undistributed foreign earnings | | | (358 | ) | | | (375 | ) |
Other expenses currently deductible | | | (814 | ) | | | (945 | ) |
Deferred tax liabilities | | | (7,099 | ) | | | (6,387 | ) |
Net deferred tax assets | | $ | 35,252 | | | $ | 21,917 | |
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Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] |
Balance as of January 1, 2020 | | $ | 25,407 | |
Increase for tax position of current year | | | 9,782 | |
Decrease for tax position of prior year | | | (907 | ) |
Decrease due to settlement with tax authorities | | | (560 | ) |
Decrease due to lapse of statute of limitation | | | (223 | ) |
Balance as of December 31, 2020 | | | 33,499 | |
Increase for tax position of current year | | | 9,191 | |
Decrease for tax position of prior year | | | (657 | ) |
Decrease due to settlement with tax authorities | | | (54 | ) |
Decrease due to lapse of statute of limitation | | | (458 | ) |
Balance as of December 31, 2021 | | | 41,521 | |
Increase for tax position of current year | | | 10,965 | |
Increase for tax position of prior year | | | 247 | |
Decrease due to settlement with tax authorities | | | (970 | ) |
Decrease due to lapse of statute of limitation | | | (2,486 | ) |
Balance as of December 31, 2022 | | $ | 49,277 | |
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