Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income before income taxes by geographic area

Income/(loss) before income taxes by geographic area was as follows:



	Year Ended December 31,
	2017		2016		2015
	(In thousands)
Domestic	$	206,579	$	222,178	$	231,798
Foreign	12,424		5,193		(49,627		)
Total income before income taxes	$	219,003	$	227,371	$	182,171

Federal, state and foreign income taxes

Federal, state and foreign income tax provisions/(benefits) were as follows:



	Year Ended December 31,
	2017			2016			2015
	(In thousands)
Federal:
Current	$	44,921		$	57,321		$	66,973
Deferred	(46,938		)	18,704			15,528
State:
Current	3,774			4,636			5,165
Deferred	3,921			1,878			1,768
Foreign:
Current	2,929			4,187			4,150
Deferred	(3,046		)	(6,420		)	(5,412		)
Provision for income taxes	$	5,561		$	80,306		$	88,172

Difference between the income tax computation by the company and the statutory body

Actual income tax expense differed from income tax expense computed by applying the U.S. federal statutory corporate tax rate of 35% to income before income taxes in 2017, 2016 and 2015 as follows:



	Year Ended December 31,
	2017				2016			2015
	(In thousands)
Provision at the U.S. federal statutory rate	$	76,651			$	79,580		$	63,760
Increase (decrease) resulting from:
State income tax, net of benefit for federal deduction	4,472				4,230			4,448
Foreign income tax rate differential	(2,443		)		(2,799		)	(2,002		)
Employment credits	(862		)		(821		)	(407		)
Changes in valuation allowances	629				749			14,667
Non-deductible goodwill	—				34			4,651
Tax Cuts and Jobs Act - Deferred Tax Effect	(73,028		)	—	—			—
Stock-based compensation	(136		)		368			386
Other	278				(1,035		)	2,669
Provision for income taxes	$	5,561			$	80,306		$	88,172

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of these temporary differences representing deferred tax assets/liabilities resulted principally from the following:



	December 31,
	2017			2016
	(In thousands)
Deferred tax assets:
Loss reserves and accruals	$	44,004		$	59,884
Interest rate swaps	259			5,598
Goodwill and intangible franchise rights	2,770			5,907
U.S. state net operating loss (“NOL”) carryforwards	17,430			16,848
Depreciation expense	—			775
Foreign NOL carryforwards	40,582			34,946
Other	379			—
Deferred tax assets	105,424			123,958
Valuation allowance on deferred tax assets	(54,415		)	(53,946		)
Net deferred tax assets	$	51,009		$	70,012
Deferred tax liabilities:
Goodwill and intangible franchise rights	$	(118,447	)	$	(160,439	)
Depreciation expense	(50,166		)	(64,465		)
Deferred gain on bond redemption	(327		)	(1,023		)
Other	(1,820		)	(3,317		)
Deferred tax liabilities	(170,760		)	(229,244		)
Net deferred tax liability	$	(119,751	)	$	(159,232	)