Option Grant and Exercise Terms
Table of Contents
The components of provision for income taxes for all periods presented were as follows:
Current tax provision:
Federal
State
Foreign
Total current
Deferred tax provision:
Federal
State
Foreign
Total deferred
Provision for income taxes
Year Ended December 31,
2021
2020
2019
(in thousands)
$
57,526
$
24,221
$
21,498
109,641
65,821
45,228
357,189
277,846
223,328
524,356
367,888
290,054
188,937
(57,765)
(28,003)
(2,700)
164,685
(54,507)
13,282
(36,854)
(12,229)
199,519
70,066
(94,739)
$
723,875 $
437,954 $
195,315
A reconciliation of the provision for income taxes, with the amount computed by applying the statutory Federal income tax rate to income before income
taxes is as follows:
Expected tax expense at U.S. Federal statutory rates
State income taxes, net of Federal income tax effect
Foreign earnings at other than U.S. rates
Federal and California R&D tax credits
Valuation allowance on California R&D tax credits
Excess tax benefits on stock-based compensation
Tax effects of the Tax Cuts and Jobs Act
Global corporate structure simplification
Nondeductible Officers Compensation
Other
Provision for income taxes
Effective Tax Rate
58
2021
Year Ended December 31,
2020
2019
(in thousands)
$
1,226,422
111,400
671,864
65,808
$
433,059
47,909
(23,963)
12,212
56,969
(82,909)
(113,882)
(134,523)
183,283
(290,899)
(339,436)
(148,693)
(254,763)
(87,194)
(127,534)
35,939
26,874
30,351
24,111
11,713
14,948
8,078
$
723,875
$
437,954
$
195,315
12 %
14 %
9 %View entire presentation