Income Taxes (Tables)
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12 Months Ended |
Dec. 31, 2016 |
Income Tax Disclosure [Abstract] |
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Schedule of Income before Income Tax, Domestic and Foreign |
For the years ended December 31, 2016, 2015 and 2014, income before income taxes is broken out between U.S. and foreign-sourced operations and consisted of the following (in thousands): | | | | | | | | | | | | | | 2016 | | 2015 | | 2014 | Domestic | $ | 6,174 |
| | $ | 9,470 |
| | $ | 16,961 |
| Foreign | 19,212 |
| | 21,730 |
| | 14,611 |
| | | | | | | Total | $ | 25,386 |
| | $ | 31,200 |
| | $ | 31,572 |
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Schedule of Components of Income Tax Expense (Benefit) |
The components of the provision for income taxes for the years ended December 31, 2016, 2015 and 2014, consisted of the following (in thousands): | | | | | | | | | | | | | | 2016 | | 2015 | | 2014 | | | | | | | Current expense (benefit): | |
| | |
| | |
| Federal | $ | 1,933 |
| | $ | (17 | ) | | $ | 1,316 |
| State | 492 |
| | 747 |
| | 768 |
| Foreign | 3,802 |
| | 3,218 |
| | 2,644 |
| | | | | | | Total current expense | 6,227 |
| | 3,948 |
| | 4,728 |
| | | | | | | Deferred expense (benefit): | |
| | |
| | |
| Federal | (144 | ) | | 3,250 |
| | 4,078 |
| State | (195 | ) | | 294 |
| | (119 | ) | Foreign | (623 | ) | | (94 | ) | | (89 | ) | | | | | | | Total deferred (benefit) expense | (962 | ) | | 3,450 |
| | 3,870 |
| | | | | | | Total income tax expense | $ | 5,265 |
| | $ | 7,398 |
| | $ | 8,598 |
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Schedule of Effective Income Tax Rate Reconciliation |
The difference between the income tax expense reported and amounts computed by applying the statutory federal rate of 35.0% to pretax income for the years ended December 31, 2016, 2015 and 2014, consisted of the following (in thousands): | | | | | | | | | | | | | | 2016 | | 2015 | | 2014 | | | | | | | Computed federal income tax expense at statutory rate of 35% | $ | 8,885 |
| | $ | 10,920 |
| | $ | 11,050 |
| State income taxes | 193 |
| | 698 |
| | 438 |
| Tax credits | (1,164 | ) | | (1,019 | ) | | (888 | ) | Production activity deduction | (53 | ) | | — |
| | — |
| Foreign tax rate differential | (3,717 | ) | | (3,564 | ) | | (1,958 | ) | Uncertain tax positions | 597 |
| | 536 |
| | (76 | ) | Deferred compensation insurance assets | (307 | ) | | 182 |
| | (81 | ) | Transaction-related expenses | 274 |
| | — |
| | — |
| Other — including the effect of graduated rates | 557 |
| | (355 | ) | | 113 |
| | | | | | | Total income tax expense | $ | 5,265 |
| | $ | 7,398 |
| | $ | 8,598 |
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Schedule of Deferred Tax Assets and Liabilities |
Deferred income tax assets and liabilities at December 31, 2016 and 2015, consisted of the following temporary differences and carry-forward items (in thousands): | | | | | | | | | | 2016 | | 2015 | | | | | Deferred income tax assets: | | | |
| Allowance for uncollectible accounts receivable | $ | 645 |
| | $ | 531 |
| Accrued compensation expense | 6,203 |
| | 5,534 |
| Inventory differences | 1,065 |
| | 2,043 |
| Net operating loss carryforwards | 27,742 |
| | 11,434 |
| Deferred revenue | 73 |
| | 118 |
| Stock-based compensation expense | 2,738 |
| | 2,532 |
| Federal research and development credit carryforward | 3,524 |
| | 2,355 |
| Foreign tax credits | 364 |
| | 600 |
| Other | 6,984 |
| | 5,754 |
| Total deferred income tax assets | 49,338 |
| | 30,901 |
| | | | | Deferred income tax liabilities: | |
| | |
| Prepaid expenses | (782 | ) | | (841 | ) | Property and equipment | (25,108 | ) | | (24,467 | ) | Intangible assets | (35,773 | ) | | (6,495 | ) | Other | (1,480 | ) | | (1,077 | ) | Total deferred income tax liabilities | (63,143 | ) | | (32,880 | ) | Valuation allowance | (3,786 | ) | | (1,981 | ) | Net deferred income tax assets (liabilities) | $ | (17,591 | ) | | $ | (3,960 | ) | |
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| Reported as: | | | | Deferred income tax assets - Current | $ | 8,219 |
| | $ | 7,025 |
| Deferred income tax assets - Long-term | 171 |
| | — |
| Deferred income tax liabilities - Current | — |
| | — |
| Deferred income tax liabilities - Long-term | (25,981 | ) | | (10,985 | ) | Net deferred income tax liabilities | $ | (17,591 | ) | | $ | (3,960 | ) |
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Summary of Income Tax Contingencies |
A reconciliation of the beginning and ending amount of liabilities associated with uncertain tax benefits for the years ended December 31, 2016, 2015 and 2014, consisted of the following (in thousands):
| | | | | | | | | | | | | Tabular Roll-forward | 2016 | | 2015 | | 2014 | | | | | | | Unrecognized tax benefits, opening balance | $ | 1,982 |
| | $ | 1,736 |
| | $ | 2,129 |
| Gross increases in tax positions taken in a prior year | 77 |
| | 187 |
| | 142 |
| Gross increases in tax positions taken in the current year | 856 |
| | 763 |
| | 309 |
| Lapse of applicable statute of limitations | (366 | ) | | (704 | ) | | (844 | ) | Unrecognized tax benefits, ending balance | $ | 2,549 |
| | $ | 1,982 |
| | $ | 1,736 |
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