INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule Of Income Before Income Taxes

Income (loss) before income taxes consisted of the following:

	Years Ended December 31,
	2014		2013			2012
			(As adjusted)*
	(In thousands)
United States operations	$	16,766	$	(33,162	)	$	25,293
Foreign operations	26,213		1,860			26,736
Total	$	42,979	$	(31,302	)	$	52,029

*See Note 2 of these consolidated financial statements for discussion of the impact of the change in accounting for the medical device excise tax.

Schedule Of Effective Income Tax Rate Reconciliation

A reconciliation of the U.S. Federal statutory rate to the Company’s effective tax rate is as follows:

	Years Ended December 31,
	2014		2013		2012
			(As adjusted)*
Federal statutory rate	35.0	%	35.0	%	35.0	%
Increase (decrease) in income taxes resulting from:
State income taxes, net of federal tax benefit	5.6	%	0.3	%	2.6	%
Foreign operations	(16.0	)%	(17.2	)%	(14.7	)%
Goodwill impairment	—	%	34.1	%	—	%
Changes in valuation allowances	3.0	%	(1.1	)%	(0.4	)%
Uncertain tax positions	(3.8	)%	(8.5	)%	(2.5	)%
Research and development credit	(2.2	)%	(1.8	)%	—	%
Return to provision	1.5	%	(6.6	)%	(0.5	)%
Other	(2.2	)%	(1.5	)%	1.3	%
Effective tax rate	20.9	%	32.7	%	20.8	%

*See Note 2 of these consolidated financial statements for discussion of the impact of the change in accounting for the medical device excise tax.

Schedule Of Provision For Income Taxes

The provision for income taxes consisted of the following:

	Years Ended December 31,
	2014			2013			2012
				(As adjusted)*
	(In thousands)
Current:
Federal	$	4,224		$	3,160		$	3,614
State	1,683			(1,374		)	1,373
Foreign	4,032			1,124			4,301
Total current	$	9,939		$	2,910		$	9,288
Deferred:
Federal	(200		)	(13,817		)	4,053
State	953			(757		)	497
Foreign	(1,717		)	1,429			(3,013		)
Total deferred	$	(964	)	$	(13,145	)	$	1,537
Provision (benefit) for income taxes	$	8,975		$	(10,235	)	$	10,825

*See Note 2 of these consolidated financial statements for discussion of the impact of the change in accounting for the medical device excise tax.

Schedule Of Deferred Tax Assets And Liabilities

The income tax effects of significant temporary differences that give rise to deferred tax assets and liabilities, shown before jurisdictional netting, are presented below:

	December 31,
	2014			2013
				(As adjusted)*
	(In thousands)
Current assets:
Doubtful accounts	$	1,632		$	1,791
Inventory related items	35,660			34,968
Tax credits	3,052			3,883
Accrued vacation	2,667			2,492
Accrued bonus	5,085			1,266
Net operating loss carryforwards	2,454			4,550
Other	1,302			1,960
Total current deferred tax assets	51,852			50,910
Less valuation allowance	(681		)	(2,232		)
Current deferred tax assets after valuation allowance	$	51,171		$	48,678
Current liabilities:
Other	(597		)	(646		)
Total current deferred tax liabilities	$	(597	)	$	(646	)
Net current deferred tax assets	$	50,574		$	48,032

*See Note 2 of these consolidated financial statements for discussion of the impact of the change in accounting for the medical device excise tax.

	December 31,
	2014			2013
				(As adjusted)*
	(In thousands)
Non-current assets:
Stock compensation	15,349			14,879
Deferred revenue	3			186
Net operating loss carryforwards	21,368			26,613
Federal & state tax credits	14,531			19,045
Other	581			897
Total non-current deferred tax assets	51,832			61,620
Less valuation allowance	(6,579		)	(6,828		)
Non-current deferred tax assets after valuation allowance	$	45,253		$	54,792
Non-current liabilities:
Intangible & fixed assets	(123,257		)	(41,563		)
Other	(52		)	105
Total non-current deferred tax liabilities	$	(123,309	)	$	(41,458	)
Net non-current deferred tax assets (liabilities)	$	(78,056	)	$	13,334
Total net deferred tax assets (liabilities)	$	(27,482	)	$	61,366

*See Note 2 of these consolidated financial statements for discussion of the impact of the change in accounting for the medical device excise tax.

Schedule Of Uncertain Tax Benefits Reconciliation

A reconciliation of the beginning and ending amount of uncertain tax benefits is as follows:

	Years Ended December 31,
	2014			2013			2012
				(As adjusted)*
	(In thousands)
Balance, beginning of year	$	3,396		$	6,136		$	3,927
Gross increases:
Current year tax positions	—			346			—
Prior years' tax positions	543			729			7,796
Gross decreases:
Prior years' tax positions	(286		)	(477		)	—
Settlements	(828		)	—			(3,523		)
Statute of limitations lapses	(1,580		)	(3,338		)	(2,064		)
Balance, end of year	$	1,245		$	3,396		$	6,136

*See Note 2 of these consolidated financial statements for discussion of the impact of the change in accounting for the medical device excise tax.