Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

Income before income taxes consisted of the following:

	Year ended December 31,
	2013		2012		2011
	(In thousands)
Domestic	$	98,883	$	65,271	$	45,159
Foreign		125,214		96,851		84,845
Total	$	224,097	$	162,122	$	130,004

Schedule of Income Tax provision (Benefit)

The income tax provision (benefit) consists of the following:

	Year ended December 31,
	2013			2012			2011
	(In thousands)
Current:
Federal	$	30,962		$	20,033		$	13,127
Foreign		24,543			22,542			23,122
Total current		55,505			42,575			36,249
Deferred:
Federal		(1,299	)		440			(891	)
Foreign		64			(102	)		(621	)
Total deferred		(1,235	)		338			(1,512	)
Total	$	54,270		$	42,913		$	34,737

Schedule of Effective Income Tax Rate Reflected in Provision for Income Taxes and U.S. Federal Statutory Rate

The difference between the effective income tax rate reflected in the provision for income taxes and the U.S. federal statutory rate was as follows:

	Year ended December 31,
	2013			2012			2011
Federal income tax statutory rate		35.0	%		35.0	%		35.0	%
Foreign income tax rate differential		(6.0	)		(5.5	)		(5.2	)
Foreign development tax incentive		(2.6	)		(1.6	)		(0.3	)
Manufacturing benefit		(1.4	)		(1.2	)		(1.3	)
Other		(0.8	)		(0.3	)		(1.5	)
Effective income tax rate		24.2	%		26.4	%		26.7	%

Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:

	December 31,
	2013			2012
	(In thousands)
Deferred tax assets:
Inventory	$	9,086		$	9,846
Inventory reserve		7,807			7,079
Allowance for doubtful accounts		396			430
Reserve for accrued liabilities		370			183
Stock options		4,323			4,242
Other		2,969			2,058
Total deferred tax assets		24,951			23,838
Deferred tax liability:
Property, plant and equipment		(9,804	)		(9,926	)
Net deferred tax asset	$	15,147		$	13,912