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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Taxes [Abstract] |
Earnings Before Income Taxes | Earnings before income taxes for the years ended December 31, 2014, 2013 and 2012 consisted of the following components (in thousands):
|  | 2014 |  |  | 2013 |  |  | 2012 |
United States |  | $ | 665,219 |  |  | $ | 517,432 |  |  | $ | 430,573 |
Other |  |  | 256,237 |  |  |  | 236,698 |  |  |  | 256,108 |
|  | $ | 921,456 |  |  | $ | 754,130 |  |  | $ | 686,681 |
Schedule of Components of Income Tax Expense (Benefit) | Components of income tax expense for the years ended December 31, 2014, 2013 and 2012 were as follows (in thousands):
|  | 2014 |  |  | 2013 |  |  | 2012 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 218,302 |  |  | $ | 166,430 |  |  | $ | 136,860 |
State |  |  | 37,155 |  |  |  | 12,577 |  |  |  | 9,972 |
Foreign |  |  | 56,107 |  |  |  | 40,451 |  |  |  | 48,403 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  |  | (30,664 | ) |  |  | (1,965 | ) |  |  | 15,789 |
Foreign |  |  | (5,477 | ) |  |  | (1,656 | ) |  |  | (7,703 | )
|  | $ | 275,423 |  |  | $ | 215,837 |  |  | $ | 203,321 |
Schedule of Effective Income Tax Rate Reconciliation | Reconciliations between the statutory federal income tax rate and the effective income tax rate for the years ended December 31, 2014, 2013 and 2012 were as follows:
|  | 2014 |  |  | 2013 |  |  | 2012 |
Federal statutory rate |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | %
Foreign rate differential |  |  | (3.9 | ) |  |  | (4.1 | ) |  |  | (3.9 | )
R&D tax credits |  |  | (0.4 | ) |  |  | (0.5 | ) |  |  | - |
State taxes, net of federal benefit |  |  | 2.0 |  |  |  | 1.9 |  |  |  | 1.7 |
Foreign tax credit |  |  | - |  |  |  | - |  |  |  | (2.4 | )
Section 199 deduction |  |  | (1.6 | ) |  |  | (1.8 | ) |  |  | (1.3 | )
Other, net |  |  | (1.2 | ) |  |  | (1.9 | ) |  |  | 0.5 |
|  |  | 29.9 | % |  |  | 28.6 | % |  |  | 29.6 | %
Schedule of Deferred Tax Assets and Liabilities | Components of the deferred tax assets and liabilities at December 31 were as follows (in thousands):
|  | 2014 |  |  | 2013 |
Deferred tax assets: |  |  |  |  |  |
Reserves and accrued expenses |  | $ | 130,508 |  |  | $ | 119,955 |
Inventories |  |  | 10,186 |  |  |  | 10,315 |
Net operating loss carryforwards |  |  | 41,480 |  |  |  | 35,286 |
R&D credits |  |  | 7,145 |  |  |  | 3,134 |
Foreign tax credits |  |  | - |  |  |  | 425 |
Valuation allowance |  |  | (16,169 | ) |  |  | (5,917 | )
Total deferred tax assets |  | $ | 173,150 |  |  | $ | 163,198 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Reserves and accrued expenses |  | $ | 27,981 |  |  | $ | 20,995 |
Amortizable intangible assets |  |  | 798,502 |  |  |  | 826,838 |
Plant and equipment |  |  | 4,741 |  |  |  | 12,423 |
Total deferred tax liabilities |  | $ | 831,224 |  |  | $ | 860,256 |
Schedule of Unrecognized Tax Benefits Roll Forward | The Company recognizes in the consolidated financial statements only those tax positions determined to be "more likely than not" of being sustained upon examination based on the technical merits of the positions. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
|  | 2014 |  |  | 2013 |  |  | 2012 |
Beginning balance |  | $ | 26,924 |  |  | $ | 24,865 |  |  | $ | 19,556 |
Additions for tax positions of prior periods |  |  | 6,532 |  |  |  | 3,055 |  |  |  | 1,371 |
Additions for tax positions of the current period |  |  | 5,571 |  |  |  | 1,639 |  |  |  | 1,541 |
Additions due to acquisitions |  |  | - |  |  |  | 5,026 |  |  |  | 9,116 |
Reductions for tax positions of prior periods |  |  | (1,008 | ) |  |  | (3,675 | ) |  |  | (197 | )
Reductions for tax positions of the current period |  |  |  |  |  |  |  |  |  |  |  |
Settlements with taxing authorities |  |  | (518 | ) |  |  | - |  |  |  | - |
Lapse of applicable statute of limitations |  |  | (8,934 | ) |  |  | (3,986 | ) |  |  | (6,522 | )
Ending balance |  | $ | 28,567 |  |  | $ | 26,924 |  |  | $ | 24,865 |

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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 components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + 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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