Income Taxes

The provision for income taxes consists of the following:



	Years Ending December 31,
	2013			2012			2011
	(in thousands)
Current	$	20,341		$	18,896		$	(2,595	)
Deferred	(1,594		)	(2,028		)	10,122
	$	18,747		$	16,868		$	7,527

The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate before the provision for income taxes.

The reconciliation of the federal statutory income tax rate to the effective income tax rate is as follows:



	Years Ending December 31,
	2013		2012		2011

Federal statutory rate	35	%	35	%	35	%
State income taxes, net of federal benefit	4	%	5	%	4	%
Domestic manufacturing deduction	(4	)%	(3	)%	—	%
Other	(2	)%	1	%	(4	)%
	33	%	38	%	35	%

Other primarily relates to certain domestic credits and a change in rate applied to deferred taxes.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount used for income tax purposes.

The significant components of the Company’s deferred tax assets and liabilities are as follows:



	December 31,
	2013			2012
	(in thousands)
Net current deferred assets and (liabilities) relating to:
Valuation reserves	$	304		$	164
Warranty accrual	2,901			2,287
Other accruals	1,420			1,996
Other, net	154			46
	$	4,779		$	4,493

Net long-term deferred assets and (liabilities) relating to:
Depreciation	$	(14,843	)	$	(16,659	)
Share-based compensation	692			653
Other, net	(273		)	274
	$	(14,424	)	$	(15,732	)

We file income tax returns in the U.S., state and foreign income tax returns jurisdictions. We are subject to U.S. examinations for tax years 2011 to present, and to non-U.S. income tax examinations for the tax years of 2008 through 2011. In addition, we are subject to state and local income tax examinations for the tax years 2010 to present. The Company continues to evaluate its need to file returns in various state jurisdictions and recorded $0.2 million in additional state income tax expense, net of federal benefit, during 2013 related to our updated assessment of required state filings. Any interest or penalties would be recognized as a component of income tax expense.

The year ended December 31, 2011 resulted in a net operating loss ("NOL") of $4.6 million. The full amount of the NOL was utilized with the amended filing of the 2009 federal tax return.

On January 2, 2013 the ATRA was signed into law. Some of the provisions were retroactive to January 1, 2012, including the extension of certain tax credits. The tax rate above reflects the tax law that was in place as of December 31, 2012. Had the ATRA had been enacted prior to January 1, 2013, our overall tax expense would have been approximately $0.5 million lower. This was recorded as a reduction in expense in the first quarter of 2013. The Company also had a change in estimate related to the recoverability of certain 2012 tax credits that was recorded in the first quarter of 2013 for approximately $0.6 million. This change in estimate was the result of additional and better information. Had the ATRA impact and the change in estimate been booked in 2012 instead of 2013, our overall effective tax rate would have been approximately 35.5% for the year ended December 31, 2012.