INCOME TAXES (Tables)
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12 Months Ended |
Dec. 31, 2017 |
Income Tax Disclosure [Abstract] |
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Schedule Of Income (Loss) Before Income Taxes |
Income (Loss) before income taxes consisted of the following: | | | | | | | | | | | | | | Years Ended December 31, | | 2017 | | 2016 | | 2015 | | (In thousands) | United States operations | $ | (32,640 | ) | | $ | 51,351 |
| | $ | 37,450 |
| Foreign operations | 44,025 |
| | 39,055 |
| | 23,221 |
| Total | $ | 11,385 |
| | $ | 90,406 |
| | $ | 60,671 |
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Schedule Of Effective Income Tax Rate Reconciliation |
A reconciliation of the U.S. Federal statutory rate to the Company’s effective tax rate is as follows: | | | | | | | | | | | Years Ended December 31, | | 2017 | | 2016 | | 2015 | Federal statutory rate | 35.0 | % | | 35.0 | % | | 35.0 | % | Increase (decrease) in income taxes resulting from: | | | | | | State income taxes, net of federal tax benefit | (17.0 | )% | | (0.2 | )% | | 1.3 | % | Foreign operations | (112.7 | )% | | (10.0 | )% | | (12.5 | )% | Spine valuation allowance | — | % | | — | % | | 61.1 | % | Excess tax benefits from stock compensation | (57.9 | )% | | (3.9 | )% | | — | % | Charitable contributions | (10.6 | )% | | (0.4 | )% | | (1.0 | )% | Nondeductible meals and entertainment | 8.8 | % | | 0.8 | % | | 0.9 | % | Domestic production activities deduction | — | % | | (2.6 | )% | | (2.4 | )% | Intercompany profit in inventory | 11.6 | % | | 1.0 | % | | 3.1 | % | Nondeductible facilitative costs | 22.5 | % | | 0.2 | % | | 3.1 | % | Changes in valuation allowances | 8.0 | % | | 0.4 | % | | 0.3 | % | Uncertain tax positions | (4.6 | )% | | (0.3 | )% | | 0.2 | % | Research and development credit | (13.2 | )% | | (1.2 | )% | | (1.9 | )% | Return to provision | (4.3 | )% | | (1.5 | )% | | 1.7 | % | Reduction of book gain on sale of assets | (4.6 | )% | | — | % | | — | % | Tax reform — Toll Tax | 48.1 | % | | — | % | | — | % | Tax reform — remeasurement of deferred tax assets and liabilities | (378.6 | )% | | — | % | | — | % | Other | 0.8 | % | | 0.2 | % | | (0.2 | )% | Effective tax rate | (468.7 | )% | | 17.5 | % | | 88.7 | % |
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Schedule Of Provision For Income Taxes |
The provision for income taxes consisted of the following: | | | | | | | | | | | | | | Years Ended December 31, | | 2017 | | 2016 | | 2015 | | (In thousands) | Current: | | | | | | Federal | $ | 6,644 |
| | $ | 13,700 |
| | $ | 46,665 |
| State | 1,233 |
| | 2,503 |
| | 2,301 |
| Foreign | 6,069 |
| | 6,113 |
| | 5,205 |
| Total current | $ | 13,946 |
| | $ | 22,316 |
| | $ | 54,171 |
| Deferred: | | | | | | Federal | (66,466 | ) | | (3,400 | ) | | 1,282 |
| State | (758 | ) | | (1,751 | ) | | (394 | ) | Foreign | (80 | ) | | (1,323 | ) | | (1,239 | ) | Total deferred | $ | (67,304 | ) | | $ | (6,474 | ) | | $ | (351 | ) | Provision for income taxes | $ | (53,358 | ) | | $ | 15,842 |
| | $ | 53,820 |
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Schedule Of Deferred Tax Assets And Liabilities |
The income tax effects of significant temporary differences that give rise to deferred tax assets and liabilities, shown before jurisdictional netting, are presented below: | | | | | | | | | | December 31, | | 2017 | | 2016 | | (In thousands) | Assets: | | | | Doubtful accounts | $ | 1,811 |
| | $ | 2,344 |
| Inventory related items | 29,266 |
| | 30,074 |
| Tax credits | 6,015 |
| | 1,040 |
| Accrued vacation | 2,556 |
| | 3,264 |
| Accrued bonus | 997 |
| | 7,842 |
| Stock compensation | 10,426 |
| | 16,031 |
| Deferred revenue | 2,395 |
| | 2,345 |
| Net operating loss carryforwards | 37,492 |
| | 15,058 |
| Unrealized foreign exchange loss | 1,177 |
| | 96 |
| Charitable contributions carryforward | 1,287 |
| | 5 |
| Others | 3,077 |
| | 128 |
| Total deferred tax assets | 96,499 |
| | 78,227 |
| Less valuation allowance | (7,961 | ) | | (3,604 | ) | Deferred tax assets after valuation allowance | $ | 88,538 |
| | $ | 74,623 |
| Liabilities: | | | | Intangible and fixed assets | (146,327 | ) | | (215,438 | ) | Others | (1,091 | ) | | (1,191 | ) | Total deferred tax liabilities | $ | (147,418 | ) | | $ | (216,629 | ) | Total net deferred tax liabilities | $ | (58,880 | ) | | $ | (142,006 | ) |
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Schedule Of Uncertain Tax Benefits Reconciliation |
A reconciliation of the beginning and ending amount of uncertain tax benefits is as follows: | | | | | | | | | | | | | | Years Ended December 31, | | 2017 | | 2016 | | 2015 | | (In thousands) | Balance, beginning of year | $ | 754 |
| | $ | 1,085 |
| | $ | 959 |
| Gross increases: | | | | | | Current year tax positions | 402 |
| | — |
| | — |
| Prior years' tax positions | — |
| | 380 |
| | 541 |
| Gross decreases: | | | | | | Prior years' tax positions | (777 | ) | | (546 | ) | | — |
| Settlements | — |
| | — |
| | — |
| Statute of limitations lapses | (17 | ) | | (131 | ) | | (404 | ) | Other | 62 |
| | (34 | ) | | (11 | ) | Balance, end of year | $ | 424 |
| | $ | 754 |
| | $ | 1,085 |
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