Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Components of Income (Loss) Before Income Taxes

The geographical sources of income before income taxes were as follows (in thousands):

	Year Ended December 31,
	2012		2011		2010
United States	$	60,388	$	78,593	$	72,298
Outside United States		103,786		101,126		77,309
Total	$	164,174	$	179,719	$	149,607

Components of Provision for Income Taxes

The provision for income taxes consists of the following (in thousands):

	Year Ended December 31,
	2012			2011			2010
Current:
Federal	$	17,744		$	7,250		$	25,795
State		1,324			1,191			3,108
Foreign		14,258			28,175			17,157
Total current		33,326			36,616			46,060
Deferred:
Federal		8,656			12,477			(3,591)
State		375			405			2,524
Foreign		(80	)		(122	)		0
Total deferred		8,951			12,760			(1,067)
Total	$	42,277		$	49,376		$	44,993

Reconciliation of Statutory and Effective Income Taxes

The reconciliation of statutory and effective income taxes is presented below (in thousands):

	Year Ended December 31,
	2012		2011		2010
Provision computed at statutory rate	$	57,461	$	62,905	$	51,714
State income tax, net of Federal tax benefit		1,353		1,432		1,884
Asset impairment charge		3,190		0		0
Tax-exempt interest income		(8,118)		(334)		(554)
Acquisition related items		322		0		(315)
Domestic manufacturing deduction		(105)		(212)		(70)
Research and experimental credit		0		(508)		(713)
Foreign rate differential		(13,710)		(13,899)		(8,134)
Other		1,884		(8)		1,181
Provision for income taxes	$	42,277	$	49,376	$	44,993

Components of Deferred Tax Assets and Liabilities

Tax effects of temporary differences that give rise to deferred tax assets and liabilities are as follows (in thousands):

	As of December 31,
	2012			2011
Deferred tax assets:
Deferred rent	$	508		$	623
Accrued vacation		2,480			1,926
Accrued bonus		2,747			4,342
Deferred compensation		1,497			1,451
Inventory items		6,967			7,072
Allowance for doubtful accounts and other receivables		211			355
Other accruals		6,531			7,355
Equity based compensation expense		16,620			16,124
Unrealized gain on securities		438			288
Unrealized loss on other investments		419			0
Net operating loss carry-forwards		2,462			4,511
Valuation allowance		(267	)		(267)
Total deferred tax assets		40,613			43,780
Deferred tax liabilities:
Unrealized loss on other investments		0			(931)
Depreciation and amortization		(24,527	)		(17,052)
Total deferred tax liabilities		(24,527	)		(17,983)
Net deferred tax assets	$	16,086		$	25,797

Summary of Deferred Tax Asset Valuation Allowances

Deferred tax asset valuation allowances included in the temporary differences above are as follows (in thousands):

	Year Ended December 31,
Valuation allowance	2012		2011		2010
Balance at the beginning of the year	$	267	$	267	$	0
Additions		0		0		267
Subtractions		0		0		0
Balance at the end of the period	$	267	$	267	$	267