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Income Taxes
9 Months Ended
Sep. 30, 2016
Income Tax Disclosure [Abstract]  
Income Taxes

6. Income Taxes

The provision for income taxes consists of the following:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2016

 

 

 

2015

 

 

 

2016

 

 

 

2015

 

 

(In thousands)

 

Current:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal

$

13,273

 

 

$

11,041

 

 

$

30,898

 

 

$

28,131

 

State and local

 

1,895

 

 

 

2,036

 

 

 

5,055

 

 

 

5,234

 

Foreign

 

1,714

 

 

 

1,234

 

 

 

4,599

 

 

 

3,189

 

Total current provision

 

16,882

 

 

 

14,311

 

 

 

40,552

 

 

 

36,554

 

Deferred:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal

 

(918

)

 

 

(1,246

)

 

 

6,895

 

 

 

2,658

 

State and local

 

(154

)

 

 

(209

)

 

 

964

 

 

 

420

 

Foreign

 

(374

)

 

 

(218

)

 

 

(143

)

 

 

(264

)

Total deferred provision

 

(1,446

)

 

 

(1,673

)

 

 

7,716

 

 

 

2,814

 

Provision for income taxes

$

15,436

 

 

$

12,638

 

 

$

48,268

 

 

$

39,368

 

The Company or one of its subsidiaries files U.S. federal, state and foreign income tax returns. Income tax returns for U.S. Federal (through 2013), New York City (through 2003) and state (through 2009) and Connecticut state (through 2003) have been audited. An examination of New York State tax returns for 2010 through 2012 is 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.