INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

The Company’s income tax provision consisted of the following:

The primary factors causing income tax expense to be different than the federal statutory rate for 2017, 2016, and 2015 are as follows:



For the years ended December 31,	2017			2016			2015
(in thousands)
Income tax at statutory rate	$	103,075		$	91,222		$	85,112
State income tax expense (net of federal benefit)	9,979			8,876			8,377
Foreign tax expense/(benefit)	(1,613		)	9,857			(1,729		)
Foreign tax	(221		)	(19,155		)	(2,816		)
Repatriation tax under TCJA	7,956			—			—
Other	(3,798		)	2,467			2,085
Total income tax provision	$	115,378		$	93,267		$	91,029

Significant components of the Company’s deferred tax assets and liabilities at December 31, 2017 and 2016 are as follows:



December 31,	2017			2016
(in thousands)
Deferred tax assets:
Termite accrual	$	1,241		$	1,848
Insurance and contingencies	18,374			26,560
Unearned revenues	11,152			14,610
Compensation and benefits	11,157			15,798
State and foreign operating loss carryforwards	7,035			12,817
Bad debt reserve	3,203			4,842
Foreign tax credit	7,842			18,213
Other	1,861			1,804
Net Pension liability	—			1,109
Valuation allowance	(24		)	(6,507		)
Total deferred tax assets	61,841			91,094
Deferred tax liabilities:
Depreciation and amortization	(18,453		)	(21,217		)
Net Pension liability	(3,709		)	—
Intangibles and other	(21,259		)	(28,000		)
Total deferred tax liabilities	(43,421		)	(49,217		)
Net deferred tax assets	18,420			41,877

Analysis of the valuation allowance:



December 31,	2017			2016
(in thousands)
Valuation allowance at beginning of year	$	6,507		$	3,969
Change in valuation allowance	(6,483		)	2,538
Valuation allowance at end of year	$	24		$	6,507

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



December 31,	2017		2016
(in thousands)
Balance at Beginning of Year	$	2,554	$	2,554
Additions for tax positions of prior years	594		—
Balance at End of Year	$	3,148	$	2,554