Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

The Company follows the provisions of the Financial Accounting Standards Codification 740 (“ASC 740”), “Income Taxes.” A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2015			2014			2013
Beginning of year	$	8,288,000		$	7,351,000		$	4,168,000
Additions based on tax positions related to the current year	1,765,000			1,328,000			1,595,000
Additions for tax positions in prior years	428,000			634,000			1,633,000
Reductions for tax positions in prior years	(336,000		)	(676,000		)	(45,000		)
Reductions as a result of completed audit examinations	(4,162,000		)	—			—
Reductions as a result of a lapse of the applicable statute of limitations	(608,000		)	(349,000		)	—
End of year	$	5,375,000		$	8,288,000		$	7,351,000

Schedule of Components of Provision For Income Taxes

The components of the provision for income taxes are as follows:

	2015		2014		2013
Currently payable:
Federal	$	129,379,597	$	108,689,911	$	95,285,094
State	2,908,000		2,236,000		3,259,000
Foreign	276,000		978,000		1,353,000
Total	132,563,597		111,903,911		99,897,094
Net deferred:
Primarily federal	12,558,000		14,818,000		5,237,000
Provision for income taxes	$	145,121,597	$	126,721,911	$	105,134,094

Schedule of Effective Income Tax Rates Different From Statutory Federal Income Tax Rates

The effective income tax rates are different from the statutory federal income tax rates for the following reasons:

	2015		2014		2013
Statutory federal income tax rate	35.00	%	35.00	%	35.0	%
State income taxes, net of federal income tax benefit	0.40		0.30		0.6
Domestic production exclusion	(2.80	)	(2.60	)	(3.1	)
Research tax credit (1)	(0.80	)	(2.00	)	(0.4	)
Reduction in Reserve for Uncertain Tax Provisions	(0.60	)	—		—
Other	0.10		(0.20	)	(0.1	)
Effective income tax rate	31.30	%	30.50	%	32.0	%

⁽¹⁾ - Research tax credits applied in 2014 related to prior tax year amended tax filings were approximately 1.3 percentage points of the 2 percentage point reduction in the effective income tax rate.

Schedule of Deferred Income Tax Assets And Liabilities

The tax effect of temporary differences which give rise to deferred income tax assets and liabilities at December 31, 2015 and 2014, are as follows:

	2015						2014
	Current			Non-Current			Current			Non-Current
Assets:
Accruals not currently deductible	$	3,890,858		$	266,802		$	2,605,711		$	224,803
Stock based compensation	16,636,615			3,723,490			13,508,845			2,508,304
Impairment loss on available-for-sale securities	—			73,954			—			135,724
Other	3,839,115			15,755			4,440,407			19,765
Total deferred income tax assets	24,366,588			4,080,001			20,554,963			2,888,596
Liabilities:
Excess tax over book depreciation	—			(53,538,861		)	—			(46,017,949		)
Goodwill	—			(16,047,068		)	—			(8,868,168		)
Unrealized gain on investments	—			(961,980		)	—			(6,368,670		)
Intangible assets	—			(3,056,712		)	—			(1,205,230		)
Other	(2,114,430		)	—			(1,117,956		)	—
Net deferred income taxes	$	22,252,158		$	(69,524,620	)	$	19,437,007		$	(59,571,421	)