Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Components Of Income Tax Expense Benefit Continuing Operations [Abstract]

The provision for income taxes consists of the following (in thousands):

	Year Ended December 31,
	2015			2014			2013
Current taxes:
Federal	$	43,962		$	100,262		$	26,695
State		9,672			21,835			9,954
Foreign		1,329			(1,831	)		365
		54,963			120,266			37,014
Deferred taxes:
Federal		(9,396	)		(275	)		(20,724	)
State		3,056			(8,064	)		(2,000	)
Foreign		608			(263	)		(1,968	)
		(5,732	)		(8,602	)		(24,692	)
Provision for income taxes	$	49,231		$	111,664		$	12,322

Reconciliation Of The Statutory Federal Income Tax With The Company's Effective Tax Rate

Reconciliation of the statutory federal income tax rate with our company’s effective income tax rate is as follows:

	Year Ended December 31,
	2015			2014			2013
Statutory rate	$	49,548		$	101,778		$	64,831
State income taxes, net of federal income tax		7,908			14,860			11,433
Change in valuation allowance		535			(2,433	)		1,659
Provision to return		904			(2,956	)		(3,003	)
Investment in subsidiary		(4,800	)		—			(58,153	)
Change in uncertain tax position		(3,903	)		276			(2,956	)
Non-taxable book gain		—			—			(2,647	)
Revaluation of deferred taxes		—			—			(2,290	)
Other, net		(961	)		139			3,448
	$	49,231		$	111,664		$	12,322

Deferred Tax Assets And Liabilities

Tax effect of temporary differences and carryforwards that comprise significant portions of deferred tax assets and liabilities (in thousands):

	December 31,
	2015			2014
Deferred tax assets:
Deferred compensation	$	173,759		$	161,972
Net operating loss carryforwards		48,831			50,251
Accrued expenses		65,451			37,673
Unrealized loss on investments		27,769			35,855
Depreciation		10,055			13,306
Receivable reserves		16,343			10,595
Investment and jobs creation credit		-			350
Total deferred tax assets		342,208			310,002
Valuation allowance		(12,738	)		(7,385	)
		329,470			302,617
Deferred tax liabilities:
Goodwill and other intangibles		(33,437	)		(24,346	)
Change in accounting method		(625	)		(12,270	)
Prepaid expenses		(4,211	)		(3,602	)
Other		(6,070	)		(4,257	)
		(44,343	)		(44,475	)
Net deferred tax asset	$	285,127		$	258,142

Unrecognized Tax Benefits

The following table summarizes the activity related to our company’s unrecognized tax benefits from January 1, 2013 to December 31, 2015 (in thousands):

	Year Ended December 31,
	2015			2014			2013
Beginning balance	$	5,510		$	5,158		$	1,750
Increase related to prior year tax positions		1,206			627			3,044
Decrease related to prior year tax positions		(33	)		(443	)		(40	)
Increase related to current year tax positions		-			294			133
Decrease related to settlements with taxing authorities		(4,815	)		(126	)		(6,086	)
Decrease related to lapsing of statute of limitations		—			—			(356	)
Increase related to business acquisitions		849			—			6,713
Ending balance	$	2,717		$	5,510		$	5,158