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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Components of income tax provision | Components of income tax expense/(benefit) are as follows (in thousands):
|  | Years Ended December 31,
|  | 2014 |  | 2013 |  | 2012
Current taxes: |  |  |  |  |  |
Federal |  | $ | 58,461 |  |  | $ | 43,675 |  |  | $ | (589 | )
State |  | 1,133 |  |  | 1,345 |  |  | 122 |
|  | 59,594 |  |  | 45,020 |  |  | (467 | )
Deferred taxes: |  |  |  |  |  |
Federal |  | (3,470 | ) |  | 10,232 |  |  | (62,581 | )
State |  | 10,052 |  |  | (2,044 | ) |  | (13,261 | )
|  | 6,582 |  |  | 8,188 |  |  | (75,842 | )
Total |  | $ | 66,176 |  |  | $ | 53,208 |  |  | $ | (76,309 | )
Schedule of income tax reconciliation | Income taxes differ for the years ended December 31, 2014, 2013 and 2012, from the amounts computed using the expected federal statutory income tax rate of 35% as a result of the following (in thousands):
|  | Years Ended December 31,
|  | 2014 |  | 2013 |  | 2012
Expected taxes at current federal statutory income tax rate |  | $ | 72,946 |  |  | $ | 62,185 |  |  | $ | 10,099 |
State income taxes, net of federal tax benefit |  | 7,271 |  |  | 7,967 |  |  | 1,878 |
Change in valuation allowance |  | — |  |  | (8,666 | ) |  | (85,460 | )
Change in state effective tax rate |  | — |  |  | — |  |  | (788 | )
Manufacturing deduction |  | (6,499 | ) |  | (4,910 | ) |  | — |
Federal tax credits |  | (7,835 | ) |  | (3,614 | ) |  | (2,064 | )
Net interest adjustments |  | — |  |  | — |  |  | (589 | )
Non-deductible costs and other |  | 293 |  |  | 246 |  |  | 615 |
Income tax expense/(benefit) |  | $ | 66,176 |  |  | $ | 53,208 |  |  | $ | (76,309 | )
Schedule of deferred tax assets and liabilities | Deferred tax assets and liabilities are comprised of timing differences at December 31 (in thousands) as follows:
|  | 2014 |  | 2013
Deferred tax assets: |  |  |  |
Real estate |  | $ | 15,002 |  |  | $ | 23,895 |
Goodwill |  | 13,728 |  |  | 8,077 |
Warranty reserve |  | 8,511 |  |  | 8,414 |
Wages payable |  | 12,329 |  |  | 9,956 |
Reserves and allowances |  | 1,022 |  |  | 1,102 |
Equity-based compensation |  | 6,005 |  |  | 4,995 |
Accrued expenses |  | 6,208 |  |  | 6,235 |
Net operating loss carry-forwards |  | 4,603 |  |  | 11,471 |
Other |  | 1,171 |  |  | 279 |
Total deferred tax assets |  | 68,579 |  |  | 74,424 |
Deferred tax liabilities: |  |  |  |
Deferred revenue |  | 2,935 |  |  | 3,670 |
Prepaids |  | 753 |  |  | 690 |
Fixed assets |  | 754 |  |  | (340 | )
Total deferred tax liabilities |  | 4,442 |  |  | 4,020 |
Deferred tax assets, net |  | 64,137 |  |  | 70,404 |
Other deferred tax liability - state franchise taxes |  | 3,559 |  |  | 2,750 |
Net deferred tax assets and liabilities |  | $ | 60,578 |  |  | $ | 67,654 |

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- 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
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- 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
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- 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
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