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Income Taxes
3 Months Ended
Mar. 31, 2016
Income Tax Disclosure [Abstract]  
Income Taxes

6. Income Taxes

The provision for income taxes consists of the following:

 

 

Three Months Ended March 31,

 

 

 

2016

 

 

 

2015

 

 

(In thousands)

 

Current:

 

 

 

 

 

 

 

Federal

$

7,078

 

 

$

7,316

 

State and local

 

1,289

 

 

 

1,478

 

Foreign

 

1,135

 

 

 

520

 

Total current provision

 

9,502

 

 

 

9,314

 

Deferred:

 

 

 

 

 

 

 

Federal

 

4,977

 

 

 

3,840

 

State and local

 

713

 

 

 

624

 

Foreign

 

215

 

 

 

131

 

Total deferred provision

 

5,905

 

 

 

4,595

 

Provision for income taxes

$

15,407

 

 

$

13,909

 

The Company or one of its subsidiaries files U.S. federal, state and foreign income tax returns. Income tax returns for New York City (through 2003) and state (through 2009) and Connecticut state (through 2003) tax returns have been audited. Examinations of the Company’s federal tax returns for 2011 through 2013 and New York State tax returns for 2010 through 2013 are currently underway. The Company cannot estimate when the examinations will conclude or the impact such examinations will have on the Company’s Consolidated Financial Statements, if any.

The Company has determined that unremitted earnings of the Company’s foreign subsidiaries are considered indefinitely reinvested outside of the United States.