INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

INCOME TAXES [Abstract]

Income tax expense

Income tax expense consists of the following:

	2016			2015			2014
Current:
Federal	$	28,765		$	29,638		$	25,937
Foreign		2,670			3,021			2,141
State		2,483			2,982			2,412
Deferred:
Federal		(7,114	)		(6,815	)		(5,772	)
Foreign		52			58			85
State		106			(1,543	)		(577	)
Total income tax provision	$	26,962		$	27,341		$	24,226

Income tax reconciliation

The provision for income taxes differs from the amount computed by applying the Federal statutory rate of 35% to earnings before income tax expense due to the following:

	2016			2015			2014
Income tax at Federal statutory rate	$	29,027		$	30,471			26,968
State income taxes, net of Federal income taxes		1,510			556			1,182
Domestic production activities deduction		(3,299	)		(2,709	)		(2,567	)
Other		(276	)		(977	)		(1,357	)
Total income tax provision	$	26,962		$	27,341			24,226

Deferred tax assets and liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2016 and 2015 were as follows:

	2016		2015
Deferred tax assets:
Inventories	$	2,378	$	1,432
Restricted stock and stock options		5,100		4,956
Other		2,629		807
Total deferred tax assets		10,107		7,195
Deferred tax liabilities:
Amortization	$	56,111	$	49,726
Depreciation		27,435		22,464
Prepaid expense		-		658
Other		48		752
Total deferred tax liabilities		83,594		73,600
Net deferred tax liability	$	73,487	$	66,405

Reconciliation of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits, which is included in other long-term obligations on the Company’s consolidated balance sheets, is as follows:

	2016			2015			2014
Balance at beginning of period	$	6,570		$	5,205		$	3,076
Increases for tax positions of prior years		332			943			1,922
Decreases for tax positions of prior years		(406	)		(120	)		(417	)
Increases for tax positions related to current year		141			542			624
Balance at end of period	$	6,637		$	6,570		$	5,205