Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Income before Income Taxes

Following is a summary of the components of income before income taxes for the years ended December 31 (in thousands):

	2014		2013		2012
U.S.	$	188,963	$	186,330	$	150,023
Non-U.S.	85,720		80,109		85,573
Income before income taxes	$	274,683	$	266,439	$	235,596

Schedule of Components of Income Tax

The expense for income taxes on the above income consists of the following components (in thousands):

	2014			2013			2012
Current tax expense:
U.S. federal	$	49,281		$	20,215		$	25,270
State and local	5,135			4,928			2,508
Foreign	16,653			17,167			18,822
Total current	71,069			42,310			46,600
Deferred tax (benefit) expense:
U.S. federal	(6,670		)	18,824			8,379
State and local	6,477			2,742			(770		)
Foreign	779			(4,688		)	(7,797		)
Total deferred	586			16,878			(188		)
Total current and deferred	71,655			59,188			46,412
Benefit (expense) relating to interest rate swap used to increase (decrease) equity	(1,442		)	(1,405		)	51
Benefit from stock transactions with employees used to increase equity	18,704			25,373			21,304
Benefit (expense) relating to defined-benefit pension adjustments used to increase (decrease) equity	2,000			482			1,926
Total tax expense	$	90,917		$	83,638		$	69,693

Schedule of Deferred Tax Assets and Liabilities

Current and long-term deferred tax assets and liabilities are comprised of the following (in thousands):

	December 31,
	2014			2013
Accrued liabilities	$	67,066		$	56,787
Loss and credit carryforwards	13,350			17,648
Assets relating to equity compensation	19,920			19,773
Other assets	3,420			1,306
Gross deferred tax assets	103,756			95,514
Property, equipment, and leasehold improvements	(10,817		)	(12,067		)
Intangible assets	(29,400		)	(25,338		)
Prepaid expenses	(26,584		)	(22,517		)
Other liabilities	(3,591		)	—
Gross deferred tax liabilities	(70,392		)	(59,922		)
Valuation allowance	(570		)	(617		)
Net deferred tax assets	$	32,794		$	34,975

Schedule of Effective Income Tax Rate Reconciliation

The differences between the U.S. federal statutory income tax rate and the Company’s effective tax rate on income before income taxes for the years ended December 31 follow:

	2014		2013		2012
Statutory tax rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal benefit	3.1		3.2		1.8
Effect of non-U.S. operations (1)	(7.0	)	(6.1	)	(6.4	)
Record (release) reserve for tax contingencies	2.6		0.9		0.7
Record (release) valuation allowance	—		(0.5	)	—
Other items, net	(0.6	)	(1.1	)	(1.5	)
Effective tax rate	33.1	%	31.4	%	29.6	%

(1) Includes the effect of foreign income taxed at different rates, U.S. tax on actual and deemed distributions, and foreign tax credits.

Schedule of Reconciliation of Beginning and Ending Unrecognized Tax Benefits

The following is a reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, for the years ending December 31 (in thousands):

	2014			2013
Beginning balance	$	14,488		$	17,552
Additions based on tax positions related to the current year	6,351			4,237
Additions for tax positions of prior years	4,112			827
Reductions for tax positions of prior years	(2,317		)	(1,973		)
Reductions for expiration of statutes	(1,027		)	(3,860		)
Settlements	(143		)	(1,575		)
Change in foreign currency exchange rates	(819		)	(720		)
Ending balance	$	20,645		$	14,488