Income Taxes

9 Months Ended

Sep. 30, 2013

Income Tax Disclosure [Abstract]

Income Taxes

8. Income Taxes

The provision for income taxes differs from amounts computed by applying the U.S. federal tax rate of 35% to income before income taxes for the three months ended September 30, 2013 and 2012 due to the following (in thousands):

	2013					2012
Income tax expense at federal statutory rate	$	37,679		35.0	%	$	28,909		35.0	%
Changes resulting from:
Foreign income tax differential		(3,874	)	(3.6	)		(3,030	)	(3.6	)
State taxes, net of federal benefit		1,084		1.0			1,366		1.7
Foreign-sourced nontaxable income		(3,360	)	(3.1	)		(1,826	)	(2.2	)
Other		1,228		1.2			997		1.0
Effect of Statutory Rate Change		(3,722	)	(3.5	)		(3,473	)	(4.1	)
Provision for income taxes	$	29,035		26.9	%	$	22,943		27.8	%

The estimated effective tax rate for the year ending December 31, 2013 is 29.1%. At September 30, 2013 and December 31, 2012, accrued expenses included liabilities for unrecognized income tax benefits of $8.0 million and $7.1 million, respectively. During the three months ended September 30, 2013 and 2012, the Company recognized additional liabilities of $0.2 million and $1.2 million, respectively. During the nine months ended September 30, 2013 and 2012, the Company recognized additional liabilities of $0.9 million and $1.9 million respectively. During the three months ended September 30, 2013 and 2012, amounts recorded for accrued interest and penalties expense related to the unrecognized income tax benefits were not significant.

The Company files numerous consolidated and separate income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. The statute of limitations has expired for tax years prior to 2010 for the Company’s U.S. federal income tax returns, 2011 for the Company’s U.K. income tax returns, 2009 for the Company’s Czech Republic income tax returns, 2010 for the Company’s Russian income tax returns, 2008 for the Company’s Mexican income tax returns, 2008 for the Company’s Brazilian income tax returns, 2008 for the Company’s Luxembourg income tax returns, 2009 for the Company’s New Zealand income tax returns and 2013 for the Company’s Australian income tax returns.