Income Taxes (Tables)

12 Months Ended

Mar. 31, 2016

Components of income tax expense (benefit) are as follows:



	Years ended March 31,					Quarter ended (transition period) March 31,			Year ended December 31,
	2016			2015		2014			2013
Current:
Federal	$	11,971		$	35,459	$	(572	)	$	51,058
State	2,443			6,861		(4		)	6,252
Foreign	12,039			7,069		5,255			6,650
Total	26,453			49,389		4,679			63,960
Deferred:
Federal	7,887			8,234		1,669			(2,580		)
State	1,113			624		(1		)	(209		)
Foreign	(833		)	1,112		(4,404		)	(1,303		)
Total	8,167			9,970		(2,736		)	(4,092		)
Income tax expense	$	34,620		$	59,359	$	1,943		$	59,868

Actual income taxes differed from that obtained by applying the statutory federal income tax rate to income before income taxes

Income tax expense differed from that obtained by applying the statutory federal income tax rate to income before income taxes as follows:



	Years ended March 31,						Quarter ended (transition period) March 31,			Year ended December 31,
	2016			2015			2014			2013
Computed expected income taxes	$	54,910		$	77,399		$	(260	)	$	71,945
State income taxes, net of federal income tax benefit	1,298			3,564			90			4,435
Foreign rate differential	(28,233		)	(25,535		)	1,904			(16,399		)
Unrecognized tax benefits	3,670			3,566			—			—
Foreign tax expense on diminution of operations	1,352			—			—			—
Other	1,623			365			209			(113		)
Income tax expense	$	34,620		$	59,359		$	1,943		$	59,868

Tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities

As a result, deferred taxes are presented as noncurrent at March 31, 2016 and the tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are presented as follows:



	3/31/2016			3/31/2015
Deferred tax assets (liabilities), current
Uniform capitalization adjustment to inventory	$	—		$	4,040
Bad debt and other reserves	—			8,984
State taxes	—			482
Prepaid expenses	—			(3,546		)
Accrued bonus	—			4,120
Foreign currency hedge	—			434
Other	—			(448		)
Total deferred tax assets, current	—			14,066
Deferred tax assets (liabilities), noncurrent:
Amortization and impairment of intangible assets	(5,128		)	1,004
Depreciation of property and equipment	(8,804		)	(6,148		)
Share-based compensation	10,118			12,044
Foreign currency translation	151			720
Deferred rent	5,383			4,885
Acquisition costs	745			764
Uniform capitalization adjustment to inventory	5,280			—
Bad debt and other reserves	14,163			—
State taxes	863			—
Prepaid expenses	(3,622		)	—
Accrued bonus	536			—
Foreign currency hedge	(94		)	—
Other	1,045			1,327
Net operating loss carryforwards	—			421
Total deferred tax assets, noncurrent	20,636			15,017
Net deferred tax assets, noncurrent	$	20,636		$	29,083

Reconciliation of the beginning and ending amounts of total unrecognized tax benefits

A reconciliation of the beginning and ending amounts of total unrecognized tax benefits is as follows:



Balance, April 1, 2014	$	—
Gross increase related to current year tax positions	1,293
Gross increase related to prior year tax positions	3,374
Balance, March 31, 2015	4,667
Gross increase related to current year tax positions	2,332
Gross increase related to prior year tax positions	2,059
Settlements	(363		)
Balance, March 31, 2016	$	8,695