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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2015
INCOME TAXES |
Schedule of domestic and foreign components of the Company's income (loss) before provision for income taxes |
|  | Year Ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |
Domestic* |  | $ | 859,039 |  | $ | 711,917 |  | $ | 596,899 |
Foreign* |  | 32,509 |  | 33,871 |  | (33,005) |
Income before provision for income taxes |  | $ | 891,548 |  | $ | 745,788 |  | $ | 563,894 |
*After intercompany royalties, management fees and interest charges from the Company’s domestic to foreign entities of $29.2 million, $34.9 million and $25.9 million for the years ended December 31, 2015, 2014 and 2013, respectively.
Components of the provision for income taxes |
|  | Year Ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |
Current: |  |  |  |  |  |  |
Federal |  | $ | 548,018 |  | $ | 228,348 |  | $ | 191,596 |
State |  | 88,671 |  | 36,633 |  | 36,662 |
Foreign |  | 10,634 |  | 7,467 |  | 4,052 |
|  | 647,323 |  | 272,448 |  | 232,310 |
Deferred: |  |  |  |  |  |  |
Federal |  | (255,422) |  | (8,473) |  | (7,441) |
State |  | (40,446) |  | (442) |  | (1,443) |
Foreign |  | (5,420) |  | 3,476 |  | (9,694) |
|  | (301,288) |  | (5,439) |  | (18,578) |
Valuation allowance |  | (1,220) |  | (4,406) |  | 11,501 |
|  | $ | 344,815 |  | $ | 262,603 |  | $ | 225,233 |
Schedule of reconciliation of income taxes computed at statutory federal rate to total income taxes |
|  | Year Ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |
U.S. Federal tax expense at statutory rates |  | $ | 312,042 |  | $ | 261,025 |  | $ | 197,363 |
State income taxes, net of federal tax benefit |  | 31,046 |  | 23,859 |  | 22,640 |
Permanent differences |  | 8,488 |  | 4,816 |  | 936 |
Domestic production deduction |  | - |  | (20,607) |  | (16,039) |
Other |  | (127) |  | (1,267) |  | 266 |
Foreign rate differential |  | (5,414) |  | (817) |  | 8,566 |
Valuation allowance |  | (1,220) |  | (4,406) |  | 11,501 |
|  | $ | 344,815 |  | $ | 262,603 |  | $ | 225,233 |
Components of the Company's deferred tax assets (liabilities) |
|  | 2015 |  | 2014 |
Deferred Tax Assets: |  |  |  |  |
Reserve for sales returns |  | $ | 242 |  | $ | 289 |
Reserve for doubtful accounts |  | 18 |  | 36 |
Reserve for inventory obsolescence |  | 1,126 |  | 3,030 |
Reserve for marketing development fund |  | 10,118 |  | 9,118 |
Capitalization of inventory costs |  | 1,927 |  | 2,527 |
State franchise tax - current |  | 15,143 |  | 12,358 |
Accrued compensation |  | 1,584 |  | - |
Accrued other liabilities |  | 1,565 |  | 3,503 |
Deferred revenue |  | 152,777 |  | 47,319 |
Stock-based compensation |  | 24,488 |  | 25,268 |
Securities impairment |  | 289 |  | 288 |
Foreign net operating loss carryforward |  | 26,624 |  | 17,256 |
Prepaid supplies |  | 6,065 |  | 4,195 |
Distribution rights |  | 120,798 |  | - |
Termination payments |  | 81,896 |  | - |
Capital loss carryforward |  | 370 |  | - |
Gain on intercompany transfer |  | 7,809 |  | 8,347 |
Total gross deferred tax assets |  | $ | 452,839 |  | $ | 133,534 |
Deferred Tax Liabilities: |  |  |  |  |
Amortization of trademarks |  | $ | (12,078) |  | $ | (11,923) |
Intangibles |  | (134,021) |  | - |
State franchise tax - deferred |  | (18,359) |  | (4,198) |
Other deferred tax liabilities |  | (2,337) |  | (327) |
Depreciation |  | (7,543) |  | (5,022) |
Total gross deferred tax liabilities |  | (174,338) |  | (21,470) |
Valuation Allowance |  | (17,191) |  | (17,683) |
Net deferred tax assets |  | $ | 261,310 |  | $ | 94,381 |
Schedule of roll-forward of the Company's total gross unrecognized tax benefits, not including interest and penalties |
|  | Gross Unrealized Tax Benefits |
Balance at January 1, 2013 |  | $ | 926 |
Additions for tax positions related to the current year |  | - |
Additions for tax positions related to the prior year |  | 9 |
Decreases for tax positions related to prior years |  | - |
Balance at December 31, 2013 |  | $ | 935 |
Additions for tax positions related to the current year |  | - |
Additions for tax positions related to the prior year |  | - |
Decreases for tax positions related to prior years |  | - |
Balance at December 31, 2014 |  | $ | 935 |
Additions for tax positions related to the current year |  | - |
Additions for tax positions related to the prior year |  | - |
Decreases for tax positions related to prior years |  | (464 | )
Balance at December 31, 2015 |  | $ | 471 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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