Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income before income taxes and equity earnings (losses)

Income (loss) before income taxes and equity earnings is attributable to the following jurisdictions (in thousands):

	Year Ended December 31,
	2014		2013			2012
United States	$	178,497	$	158,851		$	144,578
Foreign (1)	2,888		(113		)	(6,178		)
Total	$	181,385	$	158,738		$	138,400

  ⁽¹⁾  The foreign loss before income taxes in 2012 includes the $6.9 million goodwill impairment charge related to the United Kingdom.

Provision for income taxes

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

	Year Ended December 31,
	2014		2013			2012
Current:
Federal	$	54,447	$	49,425		$	43,871
State and other	9,126		7,486			5,958
Total current provision for income taxes	63,573		56,911			49,829
Deferred:
Federal	6,942		4,905			6,071
State and other	44		(226		)	844
Total deferred provision for income taxes	6,986		4,679			6,915
Provision for income taxes	$	70,559	$	61,590		$	56,744

Reconciliation of the U.S. federal statutory tax rate to effective tax rate on income before income taxes and equity earnings (losses)

A reconciliation of the U.S. federal statutory tax rate to our effective tax rate on Income before income taxes and equity earnings is as follows:

	Year Ended December 31,
	2014		2013		2012
Federal statutory rate	35.00	%	35.00	%	35.00	%
Change in valuation allowance	0.43		0.57		1.97
Other, primarily state income tax rate	3.47		3.23		4.03
Total effective tax rate	38.90	%	38.80	%	41.00	%

Components of deferred tax assets and liabilities

The table below presents the components of our deferred tax assets and liabilities (in thousands):

	December 31,
	2014			2013
Deferred tax assets:
Product inventories	$	6,583		$	6,476
Accrued expenses	3,168			4,072
Allowance for doubtful accounts	172			346
Total current	9,923			10,894
Less: Valuation allowance	(1,596		)	(1,691		)
Component reclassified for net presentation	(5,210		)	(3,746		)
Total current, net	3,117			5,457
Leases	1,763			1,805
Share-based compensation	14,483			15,579
Uncertain tax positions	1,641			1,343
Net operating losses	5,494			4,709
Interest rate swaps	861			667
Equity losses in unconsolidated investments	5,653			5,653
Other	1,009			953
Total non-current	30,904			30,709
Less: Valuation allowance	(9,551		)	(8,672		)
Component reclassified for net presentation	(20,462		)	(21,253		)
Total non-current, net	891			784
Total deferred tax assets	4,008			6,241
Deferred tax liabilities:
Trade discounts on purchases	2,836			2,022
Prepaid expenses	2,374			1,724
Total current	5,210			3,746
Component reclassified for net presentation	(5,210		)	(3,746		)
Total current, net	—			—
Intangible assets, primarily goodwill	36,927			33,659
Depreciation	7,039			6,702
Total non-current	43,966			40,361
Component reclassified for net presentation	(20,462		)	(21,253		)
Total non-current, net	23,504			19,108
Total deferred tax liabilities	23,504			19,108
Net deferred tax liability	$	(19,496	)	$	(12,867	)

Summary of activity related to uncertain tax positions

The following table summarizes the activity related to uncertain tax positions for the past three years (in thousands):

	2014		2013		2012
Balance at beginning of year	$	3,837	$	3,504	$	4,715
Increases for tax positions taken during a prior period	—		—		—
Increases for tax positions taken during the current period	1,664		1,140		972
Decreases resulting from the expiration of the statute of limitations	811		807		2,123
Decreases relating to settlements	—		—		60
Balance at end of year	$	4,690	$	3,837	$	3,504