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Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Constituents of Provision for Income Taxes

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

		Year Ended December 31,
		2013				2012				2011
Current:
Federal		$	8,720			$	11,284			$	6,711
State			721				789				806
Foreign			3,167				5,790				10,519
			12,608				17,863				18,036
Deferred:
Federal			1,580				428				(812	)
State			119				36				34
Foreign			6				205				(10	)
			1,705				669				(788	)
		$	14,313			$	18,532			$	17,248

Reconciliation of United States Federal Statutory Corporate Tax Rate to Company's Effective Tax Rate

A reconciliation of the United States federal statutory corporate tax rate to the Company’s effective tax rate was as follows:

		Year Ended December 31,
		2013				2012				2011
Income tax provision at federal statutory rate			35	%			35	%			35	%
State income taxes, net of federal benefit			1				1				1
Foreign tax rate differential			(17	)			(14	)			(15	)
Tax credit			(1	)			-				(1	)
Discrete tax events			(3	)			-				-
Other			1				(1	)			-
Income tax provision			16	%			21	%			20	%

Changes in the Reserve for Income Taxes, Excluding Interest and Penalties

The changes in the reserve for income taxes, excluding interest and penalties, were as follows (in thousands):

Balance of reserve for income taxes as of December 31, 2011		$	4,148
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in prior periods			43
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in the current period			642
Gross amounts of decreases in unrecognized tax benefits relating to settlements with taxing authorities			(424	)
Gross amounts of decreases in unrecognized tax benefits as a result of the expiration of the applicable statutes of limitations			(385	)
Balance of reserve for income taxes as of December 31, 2012			4,024
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in prior periods			438
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in the current period			1,048
Gross amounts of decreases in unrecognized tax benefits relating to settlements with taxing authorities			-
Gross amounts of decreases in unrecognized tax benefits as a result of the expiration of the applicable statutes of limitations			(1,102	)
Balance of reserve for income taxes as of December 31, 2013		$	4,408

Constituents of Deferred Tax Assets

Deferred tax assets consisted of the following (in thousands):

		December 31,
		2013				2012
Current deferred tax assets:
Inventory and revenue related		$	5,614			$	4,303
Bonuses, commissions, and other compensation			1,377				1,280
Other			1,292				1,093
Gross current deferred tax assets			8,283				6,676
Valuation allowance			(672	)			(307	)
Net current deferred tax assets		$	7,611			$	6,369
Noncurrent deferred tax assets:
Stock-based compensation expense		$	7,488			$	7,242
Federal and state tax credit carryforwards			5,418				9,747
Depreciation			1,831				1,819
Acquired completed technologies and other intangible assets			835				1,119
Unrealized investment gains and losses			601				1,075
Correlative tax relief and deferred interest related to reserves			252				520
Capital loss carryforward			-				373
Acquired in-process technology			-				90
Other			1,178				1,960
Gross noncurrent deferred tax assets			17,603				23,945
Noncurrent deferred tax liabilities:
Nondeductible intangible assets			(3,662	)			(4,945	)
Other			(548	)			(2,171	)
Gross noncurrent deferred tax liabilities			(4,210	)			(7,116	)
Valuation allowance			(1,086	)			(1,182	)
Net noncurrent deferred tax assets		$	12,307			$	15,647

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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

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-Publisher FASB

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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.

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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

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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

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