v2.4.1.9

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes Income before income taxes was taxed under the following jurisdictions:
(in millions) | Years Ended December 31,
| 2014 |  | 2013 |  | 2012
Domestic | $ | 366.6 |  |  | $ | 179.4 |  |  | $ | 170.3 |
Foreign | 21.1 |  |  | 16.1 |  |  | 15.8 |
Total | $ | 387.7 |  |  | $ | 195.5 |  |  | $ | 186.1 |
Components of income tax expense (benefit) consisted of the following:
(in millions) | Years Ended December 31,
| 2014 |  | 2013 |  | 2012
Current: |  |  |  |  |
Federal | $ | 206.8 |  |  | $ | 96.7 |  |  | $ | 110.3 |
State | 19.3 |  |  | 10.1 |  |  | 8.0 |
Foreign | 5.8 |  |  | 4.6 |  |  | 5.1 |
Total current | 231.9 |  |  | 111.4 |  |  | 123.4 |
Deferred: |  |  |  |  |
Domestic | (89.0 | ) |  | (48.6 | ) |  | (56.2 | )
Foreign | (0.1 | ) |  | (0.1 | ) |  | (0.1 | )
Total deferred | (89.1 | ) |  | (48.7 | ) |  | (56.3 | )
Income tax expense | $ | 142.8 |  |  | $ | 62.7 |  |  | $ | 67.1 |
The reconciliation between the statutory tax rate expressed as a percentage of income before income taxes and the effective tax rate is as follows:
(dollars in millions) | Years Ended December 31,
| 2014 |  | 2013 |  | 2012
Statutory federal income tax rate | $ | 135.7 |  |  | 35.0 | % |  | $ | 68.4 |  |  | 35.0 | % |  | $ | 65.1 |  |  | 35.0 | %
State taxes, net of federal effect | 6.5 |  |  | 1.6 |  |  | (5.0 | ) |  | (2.6 | ) |  | 0.4 |  |  | 0.2 |
Equity-based compensation | 1.1 |  |  | 0.3 |  |  | 1.5 |  |  | 0.7 |  |  | 5.7 |  |  | 3.1 |
Effect of rates different than statutory | (1.9 | ) |  | (0.5 | ) |  | (1.4 | ) |  | (0.7 | ) |  | (1.4 | ) |  | (0.8 | )
Other | 1.4 |  |  | 0.4 |  |  | (0.8 | ) |  | (0.3 | ) |  | (2.7 | ) |  | (1.5 | )
Effective tax rate | $ | 142.8 |  |  | 36.8 | % |  | $ | 62.7 |  |  | 32.1 | % |  | $ | 67.1 |  |  | 36.0 | %
The tax effect of temporary differences that give rise to the net deferred income tax liability is presented below:
(in millions) | December 31,
| 2014 |  | 2013
Deferred Tax Assets: |  |  |
Deferred interest | $ | 32.9 |  |  | $ | 43.5 |
State net operating loss and credit carryforwards, net | 18.8 |  |  | 21.1 |
Payroll and benefits | 27.0 |  |  | 16.2 |
Rent | 5.5 |  |  | 6.4 |
Accounts receivable | 6.3 |  |  | 5.4 |
Equity compensation plans | 6.5 |  |  | 1.6 |
Trade credits | 1.5 |  |  | 1.5 |
Other | 5.0 |  |  | 7.1 |
Total deferred tax assets | 103.5 |  |  | 102.8 |
Deferred Tax Liabilities: |  |  |
Software and intangibles | 425.3 |  |  | 486.2 |
Deferred income | 116.2 |  |  | 145.5 |
Property and equipment | 22.5 |  |  | 25.0 |
Other | 15.3 |  |  | 11.6 |
Total deferred tax liabilities | 579.3 |  |  | 668.3 |
Deferred tax asset valuation allowance | — |  |  | — |
Net deferred tax liability | $ | 475.8 |  |  | $ | 565.5 |
The Company has state income tax net operating loss carryforwards of $124.0 million, which will expire at various dates from 2015 through 2033 and state tax credit carryforwards of $19.6 million, which expire at various dates from 2016 through 2019. The Company has not provided for U.S. federal income taxes or tax benefits on the undistributed earnings of its international subsidiary because such earnings are reinvested and it is currently intended that they will continue to be reinvested indefinitely. At December 31, 2014, the Company has not provided for federal income taxes on earnings of approximately $66.6 million from its international subsidiary. The Company had no unrecognized tax benefits at December 31, 2014, 2013 and 2012. In the ordinary course of business, the Company is subject to review by domestic and foreign taxing authorities, including the Internal Revenue Service (“IRS”). In general, the Company is no longer subject to audit by the IRS for tax years through 2010 and state, local or foreign taxing authorities for tax years through 2009. Various other taxing authorities are in the process of auditing income tax returns of the Company and its subsidiaries. The Company does not anticipate that any adjustments from the audits would have a material impact on its consolidated financial position, results of operations or cash flows. The Company accrues net interest and penalties related to unrecognized tax benefits in income tax expense in its consolidated statements of operations. For the years ended December 31, 2014, 2013 and 2012, the Company had no liability recorded for the payment of interest and penalties on unrecognized tax benefits and did not recognize any such interest and penalty expense.

X
- Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + 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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: 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 Reference 5: 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 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration