Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Deferred Tax Assets and Deferred Tax Liabilities

The deferred tax assets and deferred tax liabilities and related valuation allowance were comprised of the following:

	December 31,
	2015			2014
Deferred tax assets:
Derivative financial instruments	$	267		$	2,461
Net operating losses		5,525			7,075
Research and development credits		21,494			26,204
Depreciation		3,886			3,456
Valuation reserves and accrued liabilities		5,553			4,788
Foreign tax credit		1,654			823
Stock compensation		3,129			2,006
Inventory		1,622			1,443
Patents		156			138
Defined benefit obligation		2,011			1,479
Other credits		639			593
Other		10			144
		45,946			50,610
Valuation allowance		(13,418	)		(18,037	)
Deferred tax liabilities:
Intangible assets		(10,161	)		(14,593	)
Unrealized foreign currency exchange gains		(3,797	)		(2,855	)
Undistributed profits of subsidiary		(3,254	)		(293	)
Property and equipment		(696	)		(162	)
Other		(342	)		(384	)
		(18,250	)		(18,287	)
Net deferred tax asset (liability)	$	14,278		$	14,286

Reconciliations Between Statutory Federal Income Tax Rate and Effective Rate

Reconciliations between the statutory Federal income tax rate of 34% and the effective rate of income tax expense for each of the three years in the period ended December 31, 2015 are as follows:

	Year Ended December 31,
	2015			2014			2013
Statutory Federal income tax rate		34.0	%		34.0	%		34.0	%
Increase (Decrease) resulting from:
U.S. Taxes on foreign income, net of taxes paid credit		1.0	%		0.3	%		(1.7	%)
Change in valuation allowance		(1.9	%)		(0.8	%)		—
Foreign, state and local tax, net of Federal benefit		1.6	%		1.9	%		3.6	%
Nondeductible expenses		1.8	%		1.8	%		1.4	%
Stock option compensation		(0.1	%)		(0.1	%)		(0.5	%)
Research and development credits		(0.9	%)		(0.5	%)		(2.3	%)
Effect of different tax rates of foreign jurisdictions		(12.1	%)		(10.0	%)		(10.8	%)
Undistributed profits of subsidiaries		2.4	%		—			—
Other tax exempt income		(0.1	%)		(0.9	%)		—
Other		0.3	%		(0.1	%)		0.3	%
Effective rate		26.0	%		25.6	%		24.0	%

Net Operating Loss Carryforwards

The Company has Net Operating Loss (“NOL”) carryforwards as follows:

Jurisdiction	Amount as of December 31, 2015		Years of Expiration
U.S. Federal and state income tax	$	47,869		2018- 2034
Foreign	$	5,719		2018-2020
Foreign	$	5,000		Indefinite

Earnings Before for Income Taxes

The earnings before for income taxes and our tax provision are comprised of the following:

	Year Ended December 31,
	2015		2014		2013
Income before income taxes:
Domestic	$	25,508	$	11,170	$	6,891
Foreign		103,430		83,051		39,339
Total income before income taxes	$	128,938	$	94,221	$	46,230

Provision for Income Taxes

	Year Ended December 31,
	2015			2014			2013
Current income tax expense:
Federal	$	8,428		$	4,005		$	690
State and local		606			(15	)		495
Foreign		24,622			24,737			9,959
Total current income tax expense	$	33,656		$	28,727		$	11,144
Deferred income tax expense (benefit):
Federal	$	(3,051	)	$	(576	)	$	12
State and local		(183	)		9			(95	)
Foreign		3,123			(4,058	)		36
Total deferred income tax expense	$	(111	)	$	(4,625	)	$	(47	)
Total tax expense	$	33,545		$	24,102		$	11,097

Reconciliation of Unrecognized Tax Benefits

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

	Year Ended December 31,
	2015			2014			2013
Balance at beginning of year	$	4,651		$	2,241		$	2,191
Additions based on tax position related to current year		—			43			2
Additions based on tax positions related to prior year		262			2,991			580
Reductions from settlements and statute of limitation expiration		(19	)		(432	)		(599	)
Effect of foreign currency translation		(451	)		(192	)		67
Balance at end of year	$	4,443		$	4,651		$	2,241