Income Taxes (Tables)
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12 Months Ended |
Dec. 31, 2014
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Income Tax Disclosure [Abstract] |
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Schedule of Income before Income Tax, Domestic and Foreign |
Income before provision for income taxes consisted of the following (in thousands): | | | | | | | | | | | | | | Year ended December 31, | | 2014 | | 2013 | | 2012 | Domestic | $ | 94,784 |
| | $ | 31,993 |
| | $ | 32,341 |
| Foreign | 95,585 |
| | 61,146 |
| | 51,955 |
| Total Income before provision for income taxes | $ | 190,369 |
| | $ | 93,139 |
| | $ | 84,296 |
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Schedule of Components of Income Tax Expense (Benefit) |
The provision for income taxes consisted of the following (in thousands): | | | | | | | | | | | | | | Year Ended December 31, | | 2014 | | 2013 | | 2012 | Federal | | | | | | Current | $ | 1,569 |
| | $ | 26 |
| | $ | — |
| Deferred | 37,570 |
| | 24,262 |
| | 22,382 |
| | 39,139 |
| | 24,288 |
| | 22,382 |
| State | | | | | | Current | 2,162 |
| | 1,235 |
| | 438 |
| Deferred | 971 |
| | 1,158 |
| | 1,486 |
| | 3,133 |
| | 2,393 |
| | 1,924 |
| Foreign | | | | | | Current | 1,596 |
| | 3,113 |
| | 1,173 |
| Deferred | 669 |
| | (950 | ) | | 126 |
| | 2,265 |
| | 2,163 |
| | 1,299 |
| Provision for income taxes | $ | 44,537 |
| | $ | 28,844 |
| | $ | 25,605 |
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Schedule of Effective Income Tax Rate Reconciliation |
The differences between income taxes using the federal statutory income tax rate of 35% and our effective tax rate were as follows: | | | | | | | | | | | Year Ended December 31, | | 2014 | | 2013 | | 2012 | U.S. federal statutory income tax rate | 35.0 | % | | 35.0 | % | | 35.0 | % | State income taxes, net of federal tax benefit | 1.6 |
| | 2.5 |
| | 2.4 |
| Impact of differences in foreign tax rates | (16.4 | ) | | (20.4 | ) | | (20.0 | ) | Goodwill Impairment | — |
| | 15.3 |
| | 15.2 |
| Stock-based compensation | 1.0 |
| | 0.5 |
| | (1.2 | ) | Other items not individually material | 2.2 |
| | (1.9 | ) | | (1.0 | ) | | 23.4 | % | | 31.0 | % | | 30.4 | % |
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Schedule of Deferred Tax Assets and Liabilities |
As of December 31, 2014 and 2013, the significant components of our deferred tax assets and liabilities were (in thousands): | | | | | | | | | | Year Ended December 31, | | 2014 | | 2013 | Deferred tax assets: | | | | Net operating loss and capital loss carryforwards | $ | 33,202 |
| | $ | 39,978 |
| Credit carryforwards | 1,446 |
| | 9,362 |
| Reserves and accruals | 32,888 |
| | 26,729 |
| Translation gains | 637 |
| | 48 |
| Stock-based compensation | 11,964 |
| | 9,100 |
| | 80,137 |
| | 85,217 |
| Deferred tax liabilities: | | | | Prepaid expenses | 709 |
| | 557 |
| Depreciation and amortization | 6,878 |
| | 5,320 |
| | 7,587 |
| | 5,877 |
| Net deferred tax assets before valuation allowance | 72,550 |
| | 79,340 |
| Valuation allowance | (32,498 | ) | | (35,108 | ) | Net deferred tax assets | $ | 40,052 |
| | $ | 44,232 |
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Schedule of Unrecognized Tax Benefits Rollforward |
The changes in the balance of gross unrecognized tax benefits, which exclude interest and penalties, for fiscal year ended December 31, 2014, 2013, and 2012, is as follows (in thousands):
| | | | | Unrecognized tax benefit as of December 31, 2011 | $ | 15,472 |
| Tax positions related to current year: | | Additions for uncertain tax positions | 5,087 |
| Tax positions related to prior year: | | Additions for uncertain tax positions | 80 |
| Unrecognized tax benefit as of December 31, 2012 | 20,639 |
| Tax positions related to current year: | | Additions for uncertain tax positions | 6,110 |
| Tax positions related to prior year: | | Decreases for uncertain tax positions | (81 | ) | Unrecognized tax benefit as of December 31, 2013 | 26,668 |
| Tax positions related to current year: | | Additions for uncertain tax positions | 6,659 |
| Tax positions related to prior year: | | Decreases for uncertain tax positions | (260 | ) | Unrecognized tax benefit as of December 31, 2014 | $ | 33,067 |
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