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Income Taxes
9 Months Ended
Sep. 30, 2014
Income Tax Disclosure [Abstract]  
Income Taxes
13. Income Taxes:
The provision for income taxes for the three months ended September 30, 2014 and 2013 were $33,000 and $113,000, respectively. The provision for income taxes for the nine months ended September 30, 2014 and 2013 were $114,000 and $256,000, respectively. The difference between the statutory rate and the Company’s effective tax rate is primarily due to the impact of foreign taxes, changes in the valuation allowance on deferred tax assets, and changes in the accruals related to unrecognized tax benefits.
As of September 30, 2014 and December 31, 2013, the Company had gross unrecognized tax benefits of approximately $1.6 million and $2.1 million, respectively, of which $526,000 and $575,000, respectively, if recognized, would impact the effective tax rate on income from continuing operations. The Company’s policy is to recognize interest and/or penalties related to unrecognized tax benefits in income tax expense. As of September 30, 2014 and December 31, 2013, the Company had accrued $96,000 and $134,000, respectively, for interest and penalties. The $54,000 reduction in gross unrecognized tax benefits during the nine months ended September 30, 2014 was primarily attributable to the expiration of the statute of limitations in certain foreign jurisdictions.     
In July 2013, the FASB issued an accounting standard update that provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carry-forward or a tax credit carry-forward exists, with the purpose of reducing diversity in practice. Under the new standard update, with certain exceptions, the Company’s unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward or a tax credit carryforward. This accounting standard update became effective for the Company in the first quarter of 2014. As the Company’s disclosures already conform to the required presentation, adoption of this standard does not impact the financial position or results of operations of the Company.