Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of components of income tax provision (benefit)

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

	Year ended December 31,
	2014			2013			2012
Current:
Federal	$	21,468		$	15,225		$	12,072
State	684			3,322			1,450
Foreign	1,627			1,432			891
Total current	23,779			19,979			14,413
Deferred:
Federal	2,573			1,336			(18,836		)
State	(1,071		)	(543		)	90
Total deferred	1,502			793			(18,746		)
Income tax expense (benefit)	$	25,281		$	20,772		$	(4,333	)

Schedule of effective income tax rate reconciliation

A reconciliation of the U.S. federal statutory tax rate to the effective income tax rate is as follows:

	Year ended December 31,
	2014		2013		2012
Federal statutory tax rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal benefit	2.3		2.8		2.3
Return to accrual adjustments	(0.9	)	0.2		(1.3	)
Change in valuation allowance	—		—		(41.0	)
Warrant liability fair value adjustment	—		—		(2.0	)
Domestic production activities deduction	(2.5	)	(2.6	)	(3.0	)
Other	(1.9	)	1.1		0.5
Effective income tax rate	32.0	%	36.5	%	(9.5	)%

Schedule of deferred tax assets and liabilities

The components of deferred tax assets and liabilities are as follows (in thousands):

	December 31,
	2014			2013
Deferred tax assets:
Net operating loss carryforwards	$	10,183		$	11,665
Allowance for doubtful accounts	369			383
Inventory valuation reserves	1,896			1,503
Equity compensation	4,146			3,693
Accrued compensation	75			598
Other	1			1
Total gross deferred tax assets	16,670			17,843
Valuation allowance	(809		)	(856		)
Total deferred tax assets, net	15,861			16,987
Deferred tax liabilities:
Property and equipment	(12,066		)	(12,374		)
Intangible assets and goodwill	(9,823		)	(9,587		)
Convertible debt	(4,126		)	(5,020		)
Prepaid insurance and other	(225		)	(47		)
Total gross deferred tax liabilities	(26,240		)	(27,028		)
Net deferred tax (liabilities) assets	$	(10,379	)	$	(10,041	)

Deferred taxes are presented in the balance sheets as follows (in thousands):

	December 31,
	2014			2013
Current deferred tax assets	$	2,696		$	2,522
Non-current deferred tax assets	12,907			15,012
Non-current deferred tax liabilities	(25,982		)	(27,575		)
Net deferred tax (liabilities) assets	$	(10,379	)	$	(10,041	)