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Income Taxes | 12 Months Ended
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Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The provision (benefit) for income taxes consists of the following:
| Years Ending December 31,
| 2015 |  | 2014 |  | 2013
| (in thousands)
Current | $ | 24,439 |  |  | $ | 26,199 |  |  | $ | 20,341 |
Deferred | 1,172 |  |  | (2,111 | ) |  | (1,594 | )
| $ | 25,611 |  |  | $ | 24,088 |  |  | $ | 18,747 |
The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate before the provision for income taxes. The reconciliation of the federal statutory income tax rate to the effective income tax rate is as follows:
| Years Ending December 31,
| 2015 |  | 2014 |  | 2013
Federal statutory rate | 35 | % |  | 35 | % |  | 35 | %
State income taxes, net of federal benefit | 5 | % |  | 5 | % |  | 4 | %
Domestic manufacturing deduction | (3 | )% |  | (4 | )% |  | (4 | )%
Other | (1 | )% |  | (1 | )% |  | (2 | )%
| 36 | % |  | 35 | % |  | 33 | %
Other primarily relates to certain domestic credits. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount used for income tax purposes. The significant components of the Company’s deferred tax assets and liabilities are as follows:
| December 31,
| 2015 |  | 2014
| (in thousands)
Deferred income tax assets (liabilities): |  |  |
Accounts receivable and inventory reserves | $ | 351 |  |  | $ | 355 |
Warranty accrual | 3,405 |  |  | 3,263 |
Other accruals | 1,248 |  |  | 1,238 |
Share-based compensation | 1,099 |  |  | 707 |
Donations | 691 |  |  | 1,309 |
Other, net | 986 |  |  | 888 |
Total deferred income tax assets | 7,780 |  |  | 7,760 |
Property & equipment | (16,486 | ) |  | (15,294 | )
Total deferred income tax liabilities | $ | (16,486 | ) |  | $ | (15,294 | )
Net deferred income tax liabilities | $ | (8,706 | ) |  | $ | (7,534 | )
In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Taxes, which requires presentation of deferred tax assets and liabilities as non-current in a classified balance sheet. The ASU becomes effective in the annual reporting period beginning after December 31, 2016, including interim reporting periods. Early adoption is allowed as of the beginning of any interim or annual reporting period. The standard permits the use of the retrospective or prospective transition method. We have early adopted the standard effective October 1, 2015, for the interim and annual reporting periods ending December 31, 2015 and have applied the retrospective transition method. The following table displays the prior period quantitative effects on the consolidated balance sheets:
December 31, 2014 |  | As Reported |  | As Restated
|  | (in thousands)
Deferred tax assets |  | $ | 6,143 |  |  | $ | — |
Total current assets |  | 131,083 |  |  | 124,940 |
Total assets |  | 233,117 |  |  | 226,974 |
Deferred tax liabilities |  | 13,677 |  |  | 7,534 |
Total liabilities and stockholders' equity |  | 233,117 |  |  | 226,974 |
There are no prior period quantitative effects on the consolidated statements of income, stockholders' equity or cash flows. We file income tax returns in the U.S., state and foreign income tax returns jurisdictions. We are subject to U.S. examinations for tax years 2012 to present, and to non-U.S. income tax examinations for the tax years of 2011 to present. In addition, we are subject to state and local income tax examinations for the tax years 2011 to present. The Company continues to evaluate its need to file returns in various state jurisdictions. Any interest or penalties would be recognized as a component of income tax expense. On January 2, 2013 the ATRA was signed into law. Some of the provisions were retroactive to January 1, 2012, including the extension of certain tax credits. Had the ATRA had been enacted prior to January 1, 2013, our overall tax expense for 2013 would have been approximately $0.5 million higher. This was recorded as a reduction in expense in the first quarter of 2013. The Company also had a change in estimate related to the recoverability of certain 2012 tax credits that was recorded in the first quarter of 2013 for approximately $0.6 million. This change in estimate was the result of additional and better information. Had the ATRA impact and the change in estimate been booked in 2012 instead of 2013, our overall effective tax rate would have been approximately 35.3% for the year ended December 31, 2013.

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- 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 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 2: 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 Reference 3: 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 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 + Details
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