Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of composition of income tax expense

For the years ended December 31, 2014, 2013 and 2012, income tax expense is composed of the following (amounts in thousands):

	2014			2013		2012
Current income tax expense		4,693		$	2,101	$	4,566
Deferred income tax (benefit) expense		(2,264	)		1,029		1,719

	$	2,429		$	3,130	$	6,285

Schedule of Company's income tax expense and effective tax rates

	2014			2013			2012
Pre-tax book income—US Only		35.0	%		34.0	%		34.0	%
Pre-tax book income—PR Only		16.9	%		–3.9	%		24.7	%
Permanent items		3.2	%		–164.6	%		0.3	%
Return to provision true-ups		–3.8	%		27.9	%		–0.1	%
Foreign rate differential		3.4	%		–7.4	%		–3.9	%
Foreign tax credits		–31.1	%		90.2	%		–16.9	%
Current/Deferred—rate difference		0.0	%		0.9	%		0.4	%
Change in valuation allowance		–19.6	%		–212.6	%		0.0	%
Foreign withholding taxes		8.9	%		0.0	%		0.0	%
Deferred foreign tax credit offset		4.0	%		–20.4	%		–1.6	%
State taxes and state rate change		1.9	%		146.9	%		0.0	%
Federal rate change		0.0	%		–152.8	%		–0.9	%

		18.8	%		–261.8	%		36.0	%

Schedule of components of net deferred tax liabilities

Net deferred tax liabilities consist of the following components as of December 31, 2014 and 2013 (amounts in thousands):

	2014			2013
Deferred tax assets:
Allowances for doubtful accounts	$	1,091		$	884
Deferred branch tax benefit		16,592			17,159
Deferred income		31			48
Accrued expenses		3,299			3,052
Foreign tax credit		2,592			3,059
Stock compensation		2,918			1,962
Pension		1,041			—
Intangibles		2,651			2,281

		30,215			28,445
Less: valuation allowance		—			(2,514	)

		30,215			25,931

Deferred tax liabilities:
Prepaid expenses		(200	)		(166	)
Intangibles		(25,807	)		(30,600	)
Property and equipment		(4,032	)		(4,215	)
Amortization expense		(7,624	)		(1,043	)
Other liabilities		—			(82	)

Total deferred tax liabilities		(37,663	)		(36,106	)

	$	(7,448	)	$	(10,175	)

Schedule of classification of deferred tax amounts

The deferred tax amounts mentioned above have been classified on the accompanying consolidated balance sheets at December 31, 2014 and 2013 as follows (amounts in thousands):

	2014		2013
Current assets	$	4,222	$	3,472


Noncurrent liabilities	$	11,670	$	13,647