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Income Taxes
6 Months Ended
Jun. 30, 2016
Income Tax Disclosure [Abstract]  
Income Taxes

6. Income Taxes

The provision for income taxes consists of the following:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2016

 

 

 

2015

 

 

 

2016

 

 

 

2015

 

 

(In thousands)

 

Current:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal

$

10,546

 

 

$

9,774

 

 

$

17,624

 

 

$

17,090

 

State and local

 

1,871

 

 

 

1,720

 

 

 

3,160

 

 

 

3,198

 

Foreign

 

1,750

 

 

 

1,434

 

 

 

2,885

 

 

 

1,955

 

Total current provision

 

14,167

 

 

 

12,928

 

 

 

23,669

 

 

 

22,243

 

Deferred:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal

 

2,836

 

 

 

64

 

 

 

7,813

 

 

 

3,904

 

State and local

 

406

 

 

 

6

 

 

 

1,119

 

 

 

630

 

Foreign

 

16

 

 

 

(177

)

 

 

231

 

 

 

(47

)

Total deferred provision

 

3,258

 

 

 

(107

)

 

 

9,163

 

 

 

4,487

 

Provision for income taxes

$

17,425

 

 

$

12,821

 

 

$

32,832

 

 

$

26,730

 

The Company or one of its subsidiaries files U.S. federal, state and foreign income tax returns. Income tax returns for New York City (through 2003) and state (through 2009) and Connecticut state (through 2003) tax returns have been audited. Examinations of the Company’s federal tax returns for 2011 through 2013 and New York State tax returns for 2010 through 2013 are currently underway. The Company cannot estimate when the examinations will conclude or the impact such examinations will have on the Company’s Consolidated Financial Statements, if any.

The Company has determined that unremitted earnings of the Company’s foreign subsidiaries are considered indefinitely reinvested outside of the United States.