Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of components of income before provision for income taxes

For the years ended December 31, 2015, 2014 and 2013, Income before provision for income taxes, includes the following components (amounts in thousands):

	2015		2014		2013
Domestic income	$	9,663	$	6,764	$	(1,301	)
Foreign income		13,118		6,222		134

	$	22,781	$	12,986	$	(1,167	)

Schedule of composition of income tax expense

For the years ended December 31, 2015, 2014 and 2013, income tax expense is composed of the following (amounts in thousands):

	2015			2014			2013
Current income tax expense	$	11,880		$	4,693		$	2,101
Deferred income tax (benefit) expense		(2,838	)		(2,264	)		1,029

	$	9,042		$	2,429		$	3,130

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

	2015			2014			2013
Pre-tax book income—US Only		35.0	%		35.0	%		34.0	%
Pre-tax book income—PR Only		20.2	%		16.9	%		–3.9	%
Permanent items		4.0	%		3.2	%		–164.6	%
Return to provision true-ups—Current/Deferred		–1.4	%		–3.8	%		27.9	%
Foreign rate differential		2.2	%		3.4	%		–7.4	%
Foreign tax credits		–24.5	%		–31.1	%		90.2	%
Current/Deferred—rate difference		0.0	%		0.0	%		0.9	%
Change in valuation allowance		0.0	%		–19.6	%		–212.6	%
Foreign withholding taxes		6.7	%		8.9	%		0.0	%
Deferred foreign tax credit offset		–2.2	%		4.0	%		–20.4	%
State taxes and state rate change		–0.3	%		1.9	%		146.9	%
Federal rate change		0.0	%		0.0	%		–152.8	%

		39.7	%		18.8	%		–261.8	%

Schedule of components of net deferred tax liabilities

Net deferred tax liabilities consist of the following components as of December 31, 2015 and 2014 (amounts in thousands):

	2015			2014
Deferred tax assets:
Allowances for doubtful accounts	$	1,976		$	1,091
Deferred branch tax benefit		15,813			16,592
Deferred income		29			31
Fixed assets		39			—
Accrued expenses		1,440			3,299
Foreign tax credit		5,572			2,592
Stock compensation		3,465			2,918
Pension		651			1,041
Intangibles		2,376			2,651

		31,361			30,215

Deferred tax liabilities:
Prepaid expenses		(196	)		(200	)
Intangibles		(23,000	)		(25,807	)
Property and equipment		(3,098	)		(4,032	)
Amortization expense		(9,715	)		(7,624	)

Total deferred tax liabilities		(36,009	)		(37,663	)

	$	(4,648	)	$	(7,448	)

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, 2015 and 2014 as follows (amounts in thousands):

	2015		2014
Current assets	$	—	$	4,222


Non-current assets	$	13,280	$	—


Non-current liabilities	$	17,928	$	11,670