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

The provision for income taxes consists of the following:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2015

 

 

 

2014

 

 

 

2015

 

 

 

2014

 

 

(In thousands)

 

Current:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal

$

11,041

 

 

$

9,280

 

 

$

28,131

 

 

$

22,297

 

State and local

 

2,036

 

 

 

1,583

 

 

 

5,234

 

 

 

4,356

 

Foreign

 

1,234

 

 

 

227

 

 

 

3,189

 

 

 

520

 

Total current provision

 

14,311

 

 

 

11,090

 

 

 

36,554

 

 

 

27,173

 

Deferred:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal

 

(1,246

)

 

 

(354

)

 

 

2,658

 

 

 

3,979

 

State and local

 

(209

)

 

 

(73

)

 

 

420

 

 

 

512

 

Foreign

 

(218

)

 

 

101

 

 

 

(264

)

 

 

213

 

Total deferred provision

 

(1,673

)

 

 

(326

)

 

 

2,814

 

 

 

4,704

 

Provision for income taxes

$

12,638

 

 

$

10,764

 

 

$

39,368

 

 

$

31,877

 

 

Summary of Company's Net Deferred Tax Assets

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

 

 

As of

 

 

September 30, 2015

 

 

December 31, 2014

 

Deferred tax assets and liabilities

$

14,053

 

 

$

12,468

 

Valuation allowance

 

(7,334

)

 

 

(7,428

)

Deferred tax assets, net

$

6,719

 

 

$

5,040