Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income before income taxes and equity earnings (losses)

Income (loss) before income taxes and equity earnings is attributable to the following jurisdictions (in thousands):

	Year Ended December 31,
	2015		2014		2013
United States	$	203,269	$	178,497	$	158,851
Foreign	4,881		2,888		(113		)
Total	$	208,150	$	181,385	$	158,738

Provision for income taxes

The provision for income taxes consisted of the following (in thousands):

	Year Ended December 31,
	2015			2014		2013
Current:
Federal	$	65,676		$	54,447	$	49,425
State and other	10,263			9,126		7,486
Total current provision for income taxes	75,939			63,573		56,911
Deferred:
Federal	4,568			6,942		4,905
State and other	(370		)	44		(226		)
Total deferred provision for income taxes	4,198			6,986		4,679
Provision for income taxes	$	80,137		$	70,559	$	61,590

Reconciliation of the U.S. federal statutory tax rate to effective tax rate on income before income taxes and equity earnings (losses)

A reconciliation of the U.S. federal statutory tax rate to our effective tax rate on Income before income taxes and equity earnings is as follows:

	Year Ended December 31,
	2015		2014		2013
Federal statutory rate	35.00	%	35.00	%	35.00	%
Change in valuation allowance	0.20		0.43		0.57
Other, primarily state income tax rate	3.30		3.47		3.23
Total effective tax rate	38.50	%	38.90	%	38.80	%

Components of deferred tax assets and liabilities

The table below presents the components of our deferred tax assets and liabilities (in thousands):

	December 31,
	2015			2014
Deferred tax assets:
Product inventories	$	7,101		$	6,583
Accrued expenses	3,303			3,168
Allowance for doubtful accounts	606			172
Total current	11,010			9,923
Less: Valuation allowance	—			(1,596		)
Component reclassified for net presentation	(5,480		)	(5,210		)
Total current, net	5,530			3,117
Leases	1,786			1,763
Share-based compensation	13,422			14,483
Uncertain tax positions	2,092			1,641
Net operating losses	5,485			5,494
Interest rate swaps	1,513			861
Equity losses in unconsolidated investments	—			5,653
Other	1,159			1,009
Total non-current	25,457			30,904
Less: Valuation allowance	(5,485		)	(9,551		)
Component reclassified for net presentation	(18,755		)	(20,462		)
Total non-current, net	1,217			891
Total deferred tax assets	6,747			4,008
Deferred tax liabilities:
Trade discounts on purchases	3,001			2,836
Prepaid expenses	2,479			2,374
Total current	5,480			5,210
Component reclassified for net presentation	(5,480		)	(5,210		)
Total current, net	—			—
Intangible assets, primarily goodwill	40,197			36,927
Depreciation	8,366			7,039
Total non-current	48,563			43,966
Component reclassified for net presentation	(18,755		)	(20,462		)
Total non-current, net	29,808			23,504
Total deferred tax liabilities	29,808			23,504
Net deferred tax liability	$	(23,061	)	$	(19,496	)

Summary of activity related to uncertain tax positions

The following table summarizes the activity related to uncertain tax positions for the past three years (in thousands):

	2015		2014		2013
Balance at beginning of year	$	4,690	$	3,837	$	3,504
Increases for tax positions taken during a prior period	410		—		—
Increases for tax positions taken during the current period	1,782		1,664		1,140
Decreases resulting from the expiration of the statute of limitations	904		811		807
Decreases relating to settlements	—		—		—
Balance at end of year	$	5,978	$	4,690	$	3,837