Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Components of Income (Loss) Before Income Taxes

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

	Year Ended December 31,
	2013		2012		2011
United States	$	47,636	$	60,388	$	78,593
Outside United States		116,191		103,786		101,126
Total	$	163,827	$	164,174	$	179,719

Components of Provision for Income Taxes

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

	Year Ended December 31,
	2013		2012		2011
Current:
Federal	$	9,556	$	17,744	$	7,250
State		808		1,324		1,191
Foreign		11,638		14,258		28,175
Total current		22,002		33,326		36,616
Deferred:
Federal		7,118		8,656		12,477
State		289		375		405
Foreign		193		(80)		(122)
Total deferred		7,600		8,951		12,760
Total	$	29,602	$	42,277	$	49,376

Reconciliation of Statutory and Effective Income Taxes

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

	Year Ended December 31,
	2013		2012		2011
Provision computed at statutory rate	$	57,339	$	57,461	$	62,905
State income tax, net of Federal tax benefit		1,191		1,353		1,432
Asset impairment charge		0		3,190		0
Tax-exempt interest income		(174)		(230)		(334)
Acquisition related items		0		322		0
Domestic manufacturing deduction		(490)		(105)		(212)
Research and experimental credit		(970)		0		(508)
Foreign rate differential		(26,798)		(21,598)		(13,899)
Other		(496)		1,884		(8)
Provision for income taxes	$	29,602	$	42,277	$	49,376

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,
	2013		2012
Deferred tax assets:
Deferred rent	$	409	$	508
Accrued vacation		2,153		2,480
Accrued bonus		2,916		2,747
Deferred compensation		1,816		1,497
Inventory items		6,061		6,967
Allowance for doubtful accounts and other receivables		118		211
Other accruals		11,149		6,531
Equity based compensation expense		12,337		16,620
Unrealized gain on securities		558		438
Unrealized loss on other investments		410		419
Net operating loss carry-forwards		597		2,462
Valuation allowance		(267)		(267)
Total deferred tax assets		38,257		40,613
Deferred tax liabilities:
Unrealized loss on other investments		(1,450)		0
Depreciation and amortization		(42,489)		(24,527)
Total deferred tax liabilities		(43,939)		(24,527)
Net deferred tax assets (liabilities)	$	(5,682)	$	16,086

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

Balance at January 1, 2013	$	4,680
Additions based on tax positions related to 2013		0
Reductions based on 2012 tax returns as filed in 2013		(680)
Balance at December 31, 2013	$	4,000

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	2013		2012		2011
Balance at the beginning of the year	$	267	$	267	$	267
Additions		0		0		0
Subtractions		0		0		0
Balance at the end of the period	$	267	$	267	$	267