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Income Taxes | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES Components of the provision for income taxes and the income to which it relates for the years ended December 31, 2016, 2015 and 2014 consist of the following:
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
Income from continuing operations before income taxes (1): |  |  |  |  |
Domestic | $ | 30,804 |  |  | $ | 27,599 |  |  | $ | 50,984 |
Foreign | 62,643 |  |  | 60,082 |  |  | 65,996 |
Income from continuing operations before income taxes | $ | 93,447 |  |  | $ | 87,681 |  |  | $ | 116,980 |
Current income taxes: |  |  |  |  |
Federal | $ | 1,419 |  |  | $ | 7,933 |  |  | $ | 11,494 |
Foreign | 18,787 |  |  | 18,763 |  |  | 17,823 |
State and local | 1,139 |  |  | 705 |  |  | 1,097 |
Current provision for income taxes | 21,345 |  |  | 27,401 |  |  | 30,414 |
Deferred provision (benefit) for income taxes: |  |  |  |  |
Federal | 11,826 |  |  | 931 |  |  | 2,232 |
Foreign | (528 | ) |  | (1,414 | ) |  | (1,232 | )
State and local | 677 |  |  | 53 |  |  | 128 |
Total deferred provision (benefit) for income taxes | 11,975 |  |  | (430 | ) |  | 1,128 |
Provision for income taxes | $ | 33,320 |  |  | $ | 26,971 |  |  | $ | 31,542 |
(1) | Includes the allocation of certain administrative expenses and the payment of royalties between domestic and foreign subsidiaries.
The provision for income taxes related to discontinued operations for the year ended December 31, 2014 was a $147 benefit. The Company does not include foreign subsidiaries in its consolidated U.S. federal income tax return and it is the Company’s intent to indefinitely reinvest the earnings of these subsidiaries outside the U.S. Accordingly, under U.S. income tax law, as of December 31, 2016, the undistributed earnings of the foreign subsidiaries are not subject to current U.S. federal income taxes. The cumulative amount of indefinitely reinvested earnings of foreign subsidiaries is $100,996 at December 31, 2016. These earnings would be subject to additional U.S. taxes of $2,299 if the earnings were repatriated into the U.S. for 2016. The principal deferred tax assets and liabilities consist of the following at December 31, 2016 and 2015:
| December 31,
| 2016 |  | 2015
Deferred tax assets: |  |  |
Property and equipment in foreign jurisdictions | $ | 5,604 |  |  | $ | 5,652 |
Accrued fees on forfeited pawn loans | 8,221 |  |  | 3,784 |
Deferred cost of goods sold deduction | 1,674 |  |  | 2,101 |
Cash America nonqualified savings plan (see Note 16) | 4,685 |  |  | — |
Accrued compensation and employee benefits | 3,626 |  |  | 859 |
Accrued Merger severance and retention | 2,718 |  |  | — |
Other | 8,024 |  |  | 2,382 |
Total deferred tax assets | 34,552 |  |  | 14,778 |
Deferred tax liabilities: |  |  |
Intangible assets | 75,998 |  |  | 22,761 |
Property and equipment in domestic jurisdictions | 7,716 |  |  | 3,093 |
Other | 2,406 |  |  | 1,067 |
Total deferred tax liabilities | 86,120 |  |  | 26,921 |
Net deferred tax liabilities | $ | (51,568 | ) |  | $ | (12,143 | )
Reported as: |  |  |
Deferred tax assets | $ | 9,707 |  |  | $ | 9,321 |
Deferred tax liabilities | (61,275 | ) |  | (21,464 | )
Net deferred tax liabilities | $ | (51,568 | ) |  | $ | (12,143 | )
The Company has evaluated the nature and timing of its deferred tax assets and concluded that no valuation allowance is necessary. The effective rate on income from continuing operations differs from the U.S. federal statutory rate of 35%. The following is a reconciliation of such differences:
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
Tax at the U.S. federal statutory rate | $ | 32,706 |  |  | $ | 30,688 |  |  | $ | 40,943 |
State income taxes, net of federal tax benefit of $636, $265 and $429, respectively | 1,181 |  |  | 493 |  |  | 796 |
Rate benefit from foreign earnings | (3,642 | ) |  | (3,531 | ) |  | (4,576 | )
Other net non-recurring foreign benefit | — |  |  | — |  |  | (5,841 | )
Nondeductible transaction related costs | 2,659 |  |  | — |  |  | — |
Other taxes and adjustments, net | 416 |  |  | (679 | ) |  | 220 |
Provision for income taxes | $ | 33,320 |  |  | $ | 26,971 |  |  | $ | 31,542 |
Effective tax rate | 35.7 | % |  | 30.8 | % |  | 27.0 | %
The Company’s foreign operating subsidiaries are owned by a subsidiary located in the Netherlands. The foreign operating subsidiaries are subject to their respective foreign statutory rates, which differ from the U.S. federal statutory rate of 35%. The statutory tax rates in Mexico, Guatemala and El Salvador are 30%, 25% and 30%, respectively. The statutory tax rate in the Netherlands is 0% on eligible dividends received from its foreign subsidiaries. The Company reviews the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. Interest and penalties related to income tax liabilities that could arise would be classified as interest expense in the Company’s consolidated statements of income. As of December 31, 2016 and 2015, the Company had no unrecognized tax benefits and, therefore, the Company did not have a liability for accrued interest and penalties and no such interest or penalties were incurred for the fiscal years ended December 31, 2016, 2015 and 2014. The Company does not believe its unrecognized tax benefits will significantly change over the next twelve months. The Company files federal income tax returns in the United States, Mexico, Guatemala, El Salvador and the Netherlands, as well as multiple state and local income tax returns in the U.S. The Company’s U.S. federal returns are not subject to examination for tax years prior to 2013. The Company’s U.S. state income tax returns are not subject to examination for the tax years prior to 2013 with the exception of six states, which are not subject to examination for tax years prior to 2012. With respect to federal tax returns in Mexico, Guatemala, El Salvador and the Netherlands, the tax years prior to 2011 are closed to examination. There are no state income taxes in Mexico, Guatemala, El Salvador or the Netherlands.

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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=65882285&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=65882285&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=65882285&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=65882285&loc=d3e32537-109319 + Details
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