Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes

Schedule of components of income tax expense (benefit)

        Income tax expense (benefit) consisted of the following components (dollars in thousands):

	2015			2014			2013
Current:
Federal	$	5,731		$	4,802		$	2,628
State		(1,645	)		4,823			1,634
Foreign		12,647			9,449			4,657
		16,733			19,074			8,919
Deferred:
Federal		13,665			(4,701	)		1,606
State		2,570			1,026			992
Foreign		(3,312	)		(1,304	)		453
		12,923			(4,979	)		3,051
Total	$	29,656		$	14,095		$	11,970

Summary of income before income taxes

        Income before income taxes consisted of the following (dollars in thousands):

	2015		2014		2013
U.S.	$	51,797	$	15,779	$	15,687
Foreign		69,429		49,208		27,368
Total	$	121,226	$	64,987	$	43,055

Significant components of deferred income tax assets and liabilities

The tax effects of temporary differences that gave rise to the net deferred tax assets (liabilities) at December 31 were as follows (dollars in thousands):

	2015			2014
Deferred tax assets:
Compensation and benefits	$	13,742		$	17,252
Net operating loss and capital loss carryover		16,094			16,949
Share-based compensation		6,488			7,719
Allowance for doubtful accounts		396			452
Tax benefits on uncertain tax positions		2,862			3,507
Goodwill and other intangibles		9,483			16,256
Other		7,736			8,568
Total deferred tax assets		56,801			70,703
Less: valuation allowance		19,444			20,400
Total deferred tax assets, net of valuation allowance		37,357			50,303
Deferred tax liabilities:
Depreciation		(1,281	)		(1,575	)
Capitalized software		(12,072	)		(11,870	)
Other		(414	)		(352	)
Total deferred tax liabilities		(13,767	)		(13,797	)
Net deferred tax assets	$	23,590		$	36,506

Summary of net operating loss carry forwards and respective expiration period

        Net operating loss carry forwards expire as follows (dollars in thousands):

	Amount		Years remaining
Hong Kong and Australia	$	72,644	Indefinite
United States		3,754	15 years
Ireland		165	Indefinite
	$	76,563

Reconciliation of the U.S. federal statutory income tax rate and actual effective tax rate on earnings

	2015			2014			2013
U.S. federal statutory income tax rate		35.0	%		35.0	%		35.0	%
State and local income taxes, net of U.S. federal income tax effect		0.4			5.5			3.9
Foreign tax impact, net		(7.2	)		(12.8	)		(6.4	)
Deemed dividend on capital structure amendment(1)		5.4			—			—
Impact of deductible basis on the sale of energy research business		(14.8	)		—			—
Non-deductible costs(2)		6.1			0.9			1.0
Other, net		(0.4	)		(6.9	)		(5.7	)
Effective income tax rate		24.5	%		21.7	%		27.8	%

(1)	Reflects the impact of the tax on a deemed dividend from amending the capital structure of the Company's operations outside of North America.
(2)	Includes the impact of the non-deductible fine and related revenue disgorgement paid in August 2015 to the Securities and Exchange Commission (the "SEC") (see Note 21,Commitments and Contingencies).

Reconciliation of the beginning and ending balances of unrecognized tax benefits

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

Uncertain Tax Benefits	2015			2014			2013
Balance, January 1	$	14,395		$	13,074		$	13,726
Additions based on tax positions related to the current year		2,807			309			404
Additions based on tax positions of prior years		349			3,681			434
Reductions for tax positions of prior years		(36	)		(84	)		(148	)
Reductions due to settlements with taxing authorities		(1,773	)		(1,108	)		(124	)
Reductions due to expiration of statute of limitations		(189	)		(1,477	)		(1,218	)
Balance, December 31	$	15,553		$	14,395		$	13,074