Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

For the years ended December 31, 2012, 2011 and 2010 net income before income taxes and non-controlling interest consisted of the following (in thousands):

	Year Ended December 31,
	2012		2011		2010
U.S. operations	$	15,595	$	21,909	$	11,276
Foreign operations		58,504		39,989		20,481
	$	74,099	$	61,898	$	31,757

Schedule of components of income tax expense

Income tax expense attributable to income from operations consisted of (in thousands):

	Year Ended December 31,
	2012			2011		2010
Current
Federal	$	1,557		$	6,261	$	(607	)
State		38			29		32
Foreign		2,209			1,241		772
		3,804			7,531		197
Deferred
Federal		5,297			2,623		2,739
State		(257	)		89		92
Foreign		974			841		527
		6,014			3,553		3,358
Income tax expense	$	9,818		$	11,084	$	3,555

Schedule of effective income tax rate reconciliation

The reconciliations between the Company's income tax expense and the amounts computed by applying the U.S. federal income tax rate of 35.0% for the years ended December 31, 2012, 2011 and 2010 are as follows (in thousands):

	Year Ended December 31,
	2012			2011			2010
Computed expected tax expense	$	25,935		$	21,668		$	11,116
Non-deductible stock-based compensation		86			68			80
Provision to tax return true-up		(148	)		8			(261	)
Other permanent differences		1,383			920			88
Increase (release) of uncertain tax liabilities		(78	)		185			(1,919	)
Increase (decrease) in income taxes resulting from:
State income tax expense, net of federal income tax benefit		(66	)		154			321
Foreign tax differential		(17,294	)		(11,919	)		(5,870	)
	$	9,818		$	11,084		$	3,555

Schedule of deferred tax assets and deferred tax liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2012 and 2011 are presented below (in thousands):

	Year Ended December 31,
	2012		2011
Deferred tax assets:
Accounts receivable (owned fleet)	$	179	$	181
Accrued expenses and other current liabilities		78		71
State taxes		1		1
Unearned revenue		1,983		1,753
Stock-based compensation		1,540		1,214
Interest expense		6		6
Tax credits		8		161
Net operating loss carry forwards		1,562		574
Gross deferred tax assets		5,357		3,961

Deferred tax liabilities:
Intangible assets		296		527
Depreciation and amortization		36,817		30,717
Foreign deferred tax liabilities		3,222		2,937
Deferred subpart F income		2,832		1,590
Unrealized gain or (loss)		52		38
Net deferred tax liability	$	37,862	$	31,848

Schedule of unrecognized tax benefits

The following table summarizes the activity related to the Company's unrecognized tax benefits (in thousands):

Balance at January 1, 2011	$	77
Decreases related to prior year tax positions		56
Increases related to current year tax positions		123
Balance at December 31, 2011		256
Increases related to prior year tax positions		7
Increases related to current year tax positions		31
Decreases related to lapsing of statute		(72	)
Decreases related to settlement		(40	)
Balance at December 31, 2012	$	182