XML 51 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Income Taxes
3 Months Ended
Mar. 31, 2014
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The effective income tax rate of 29.7% for the three months ended March 31, 2014 differed from the U.S. federal statutory rate of 35% primarily due to the effect of income earned by certain of the Company’s foreign entities being taxed at lower rates than the U.S. federal statutory rate. The effective income tax rate of 29.0% for the three months ended March 31, 2013 differed from the U.S. federal statutory rate of 35% primarily due to the effect of income earned by certain of the Company's foreign entities being taxed at lower rates than the federal statutory rate and the positive effect of the domestic production activities deduction.
As of March 31, 2014, the Company has recorded a $941 liability for gross unrecognized tax benefits. This amount includes $514 of unrecognized tax benefits which, if ultimately recognized, will reduce the Company’s annual effective income tax rate. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. As of March 31, 2014, the Company had accrued approximately $99 for the payment of interest and penalties.