Income Taxes (Tables)

3 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Reconciliation of effective tax rate to the U.S. federal statutory tax rate

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

	Three months ended March 31,
	2015		2014
Federal statutory tax rate	35.0	%	35.0	%
State income taxes, net of federal benefit	5.4		2.3
Non-US income taxed at different rates	(23.6	)	—
Non-deductible expenses	5.4		0.1
Domestic production activities deduction	(1.1	)	(2.7	)
Effective income tax rate	21.1	%	34.7	%

Schedule of deferred tax assets and liabilities

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

	March 31, 2015			December 31, 2014
Current deferred tax assets	$	1,799		$	2,696
Non-current deferred tax assets	13,486			12,907
Non-current deferred tax liabilities	(23,297		)	(25,982		)
Net deferred tax assets (liabilities)	$	(8,012	)	$	(10,379	)