XML 29 R28.htm IDEA: XBRL DOCUMENT v2.4.0.8

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Taxes [Abstract]

Provision for income taxes

The Company’s provision for income taxes consists of the following:

		Year ended December 31,
		2013				2012				2011
Current:
Federal		$	48,287			$	34,170			$	14,312
State			5,648				3,854				1,885
Foreign			2,214				81				–
			56,149				38,105				16,197
Deferred:
Federal			42,003				21,972				15,632
State			5,523				3,048				1,887
Foreign			167				25				–
			47,693				25,045				17,519
Change in valuation allowance			335				(21	)			(271,393	)
Provision for income taxes		$	104,177			$	63,129			$	(237,677	)

Significant components of deferred tax assets and liabilities

Significant components of deferred tax assets and liabilities are as follows:

		December 31,
		2013				2012
Deferred tax assets:
Goodwill and intangible assets		$	74,992			$	125,457
Accrued expenses			24,263				26,606
Deferred revenue			4,413				3,503
Inventories			4,483				2,544
Pension obligations			4,043				9,064
Stock-based compensation			6,609				6,408
Operating loss and credit carryforwards			976				24,915
Interest rate swaps			-				1,119
Other			2,089				36
Valuation allowance			(1,021	)			(806	)
Total deferred tax assets			120,847				198,846
Deferred tax liabilities:
Depreciation			15,163				12,274
Debt refinancing costs			7,494				-
Prepaid expenses			1,183				1,131
Total deferred tax liabilities			23,840				13,405
Net deferred tax asset		$	97,007			$	185,441

Net current and noncurrent components of deferred taxes

The net current and noncurrent components of deferred taxes included in the consolidated balance sheets are as follows:

		December 31,
		2013				2012
Net current deferred tax assets		$	26,869			$	48,687
Net long-term deferred tax assets			86,125				137,560
Net long-term deferred tax liabilities			(14,966	)			-
Valuation allowance			(1,021	)			(806	)
Net deferred tax assets		$	97,007			$	185,441

Reconciliation of statutory tax rates and effective tax rates

A reconciliation of the statutory tax rates and the effective tax rates for the years ended December 31, 2013, 2012 and 2011 are as follows:

		Year ended December 31,
		2013				2012				2011
U.S. statutory rate			35.0	%			35.0	%			35.0	%
State taxes			3.7				4.1				4.0
Valuation allowance			0.2				-				(312.3	)
Other			-1.5				1.3				-
Effective tax rate			37.4	%			40.4	%			(273.3	)%

X

- Definition

Tabular disclosure of net current and noncurrent components of deferred taxes included in the consolidated balance sheets.

+ References

No definition available.

+ Details

Name:	gnrc_NetCurrentAndNoncurrentComponentsOfDeferredTaxesTableTextBlock
Namespace Prefix:	gnrc_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

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

X

- 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

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration