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Income Taxes (Tables)
6 Months Ended
Jun. 30, 2015
Income Tax Disclosure [Abstract]  
Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2015

 

 

 

2014

 

 

 

2015

 

 

 

2014

 

 

(In thousands)

 

Current:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal

$

9,774

 

 

$

8,023

 

 

$

17,090

 

 

$

13,017

 

State and local

 

1,720

 

 

 

1,587

 

 

 

3,198

 

 

 

2,773

 

Foreign

 

1,434

 

 

 

561

 

 

 

1,955

 

 

 

294

 

Total current provision

 

12,928

 

 

 

10,171

 

 

 

22,243

 

 

 

16,084

 

Deferred:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal

 

64

 

 

 

1,002

 

 

 

3,904

 

 

 

4,333

 

State and local

 

6

 

 

 

74

 

 

 

630

 

 

 

585

 

Foreign

 

(177

)

 

 

(367

)

 

 

(47

)

 

 

111

 

Total deferred provision

 

(107

)

 

 

709

 

 

 

4,487

 

 

 

5,029

 

Provision for income taxes

$

12,821

 

 

$

10,880

 

 

$

26,730

 

 

$

21,113

 

 

Summary of Company's Net Deferred Tax Assets

The following is a summary of the Company’s net deferred tax assets:

 

 

As of

 

 

June 30, 2015

 

 

December 31, 2014

 

Deferred tax assets and liabilities

$

11,717

 

 

$

12,468

 

Valuation allowance

 

(7,371

)

 

 

(7,428

)

Deferred tax assets, net

$

4,346

 

 

$

5,040