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Income Taxes: | 12 Months Ended
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Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Income Tax Disclosure [Text Block] | Income Taxes Income from continuing operations before taxes for the years ended December 31, 2015, 2014 and 2013 is as follows:
|  | 2015 |  | 2014 |  | 2013
United States |  | $ | 74,288 |  |  | $ | 33,508 |  |  | $ | 48,964 |
Foreign |  | (4,589 | ) |  | 6,284 |  |  | 3,750 |
|  | $ | 69,699 |  |  | $ | 39,792 |  |  | $ | 52,714 |
The provision (benefit) for income taxes for the years ended December 31, 2015, 2014 and 2013 is as follows:
|  | 2015 |  | 2014 |  | 2013
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 18,601 |  |  | $ | 13,860 |  |  | $ | 14,575 |
State |  | 745 |  |  | (1,305 | ) |  | 2,145 |
Foreign |  | 1,426 |  |  | 2,100 |  |  | (70 | )
|  | 20,772 |  |  | 14,655 |  |  | 16,650 |
Deferred: |  |  |  |  |  |  |  |  |
Federal |  | $ | 4,524 |  |  | $ | (2,325 | ) |  | $ | 164 |
State |  | (960 | ) |  | 988 |  |  | (996 | )
Foreign |  | 378 |  |  | 139 |  |  | (3,522 | )
|  | 3,942 |  |  | (1,198 | ) |  | (4,354 | )
|  | $ | 24,714 |  |  | $ | 13,457 |  |  | $ | 12,296 |
Current income taxes payable were reduced from the amounts in the above table by $9.3 million, $5.7 million and $7.0 million in 2015, 2014 and 2013, respectively, equal to the direct tax benefit that we receive upon exercise of stock options by employees and directors. The benefit is allocated to stockholders’ equity. We have accrued for tax contingencies for potential tax assessments, and in 2015 we recognized a $1.8 million net decrease, most of which related to various federal and state tax reserves. Reconciliations of the provision for income taxes at the statutory rate to our effective tax rate for the years ended December 31, 2015, 2014 and 2013 are as follows:
|  | 2015 |  | 2014 |  | 2013
|  | Amount |  | Percent |  | Amount |  | Percent |  | Amount |  | Percent
Federal tax at the expected statutory rate |  | $ | 24,395 |  |  | 35.0 | % |  | $ | 13,927 |  |  | 35.0 | % |  | $ | 18,450 |  |  | 35.0 | %
State income tax, net of federal effect |  | 2,661 |  |  | 3.9 | % |  | 981 |  |  | 2.5 | % |  | 1,126 |  |  | 2.1 | %
Tax credits |  | (5,861 | ) |  | (8.4 | )% |  | (1,591 | ) |  | (4.0 | )% |  | (1,974 | ) |  | (3.7 | )%
Tax-exempt interest and dividends |  | — |  |  | — | % |  | (3 | ) |  | — | % |  | — |  |  | — | %
Domestic production activities/other |  | 107 |  |  | 0.1 | % |  | 104 |  |  | 0.2 | % |  | (403 | ) |  | (0.8 | )%
Foreign income tax |  | 3,412 |  |  | 4.9 | % |  | 39 |  |  | 0.1 | % |  | (4,903 | ) |  | (9.3 | )%
|  | $ | 24,714 |  |  | 35.5 | % |  | $ | 13,457 |  |  | 33.8 | % |  | $ | 12,296 |  |  | 23.3 | %
Tax credits in 2015, 2014 and 2013 consist principally of research and developmental tax credits. The indirect effect of non-statutory stock options exercised on research and development tax credits and other tax credits were recorded as reductions of the effective tax provision. The components of our deferred income tax provision for the years ended December 31, 2015, 2014 and 2013 are as follows:
|  | 2015 |  | 2014 |  | 2013
Allowance for doubtful accounts |  | $ | — |  |  | $ | 4 |  |  | $ | 4 |
Inventory reserves |  | 284 |  |  | (488 | ) |  | 341 |
Accruals |  | (2,977 | ) |  | (1,326 | ) |  | (470 | )
State income taxes |  | 502 |  |  | (4 | ) |  | 552 |
Acquired future tax deductions |  | 3,139 |  |  | 96 |  |  | 40 |
Depreciation and amortization |  | 1,080 |  |  | (780 | ) |  | (3,850 | )
Net operating loss |  | 195 |  |  | 62 |  |  | — |
Tax credits |  | (635 | ) |  | 1,238 |  |  | (971 | )
Valuation allowance |  | 2,354 |  |  | — |  |  | — |
|  | $ | 3,942 |  |  | $ | (1,198 | ) |  | $ | (4,354 | )
The components of our deferred income tax assets (liabilities) at December 31, 2015 and 2014 are as follows:
|  | 2015 |  | 2014
Deferred tax asset: |  |  |  |  |  |
State income taxes |  | $ | (1,647 | ) |  | $ | (1,862 | )
Foreign |  | 3,881 |  |  | $ | 1,905 |
Accruals/other |  | 1,432 |  |  | 2,604 |
Depreciation and amortization |  | (11,735 | ) |  | (5,594 | )
Acquired future tax deductions |  | 5,778 |  |  | 639 |
Stock-based compensation |  | 8,864 |  |  | 6,778 |
Foreign currency translation adjustments |  | 5,360 |  |  | 2,680 |
Tax credits state |  | 5,887 |  |  | 5,102 |
Inventory reserves |  | 1,633 |  |  | 1,538 |
Allowance for doubtful accounts |  | — |  |  | 151 |
Valuation allowance |  | (2,354 | ) |  | — |
|  | $ | 17,099 |  |  | 13,941 |
Deferred tax liability: |  |  |  |  |  |
Foreign |  | $ | 1,372 |  |  | $ | 1,376 |
|  | $ | 1,372 |  |  | $ | 1,376 |
Acquired future tax deductions are the tax benefits included in our consolidated income tax returns originating in Bio-Plexus, Inc., an entity purchased in 2002, prior to when we acquired the entity, and those originating from EXC Holding Corp. ("EXC") acquired in 2015. They consist of: (a) the net tax benefit of items expensed for financial statement purposes but capitalized and amortized for tax purposes, (b) the tax benefited portion of Bio-Plexus’s federal net operating loss ("NOL") carry-forward which will be realized in approximately equal amounts over the next 8 years, and (c) the tax benefited portion of EXC's NOL carryforward of $4.9 million is expected to be realized in approximately 6 years, and will expire in 18 years. Under Section 382 of the Internal Revenue Code, certain ownership changes limit the utilization of the NOL carry-forwards, and the amount of federal NOL carry-forwards recorded is the net federal benefit available. A net change in the valuation allowance of $2.4 million was recorded against the deferred tax assets of our Slovakia subsidiary due to a change in realization as a result of the decision to close the manufacturing facility. Foreign currency translation adjustments, and related tax effects, are an element of “other comprehensive income” and are not included in net income. Our estimate of undistributed earnings of our foreign subsidiaries for which no federal or state liability has been recorded cumulatively was $17.8 million at December 31, 2015 and $14.5 million at December 31, 2014. These undistributed earnings are considered to be indefinitely reinvested. However, if unanticipated distribution of those earnings were to occur in the form of dividends or otherwise, some portion of the distribution would be subject to both foreign withholding taxes and U.S. income taxes. In the event that our position in this regard changes, determining the potential amount of unrecognized deferred federal and state income tax liability and foreign withholding taxes is not practicable because of the complexities associated with its hypothetical calculation. However, unrecognized foreign tax credits would be available to reduce some portion of the federal liability. We are subject to taxation in the United States and various states and foreign jurisdictions. Our United States federal income tax returns for tax years 2012 and forward are subject to examination by the Internal Revenue Service. Our principal state income tax returns for tax years 2013 and forward are subject to examination by the state tax authorities. The total gross amount of unrecognized tax benefits as of December 31, 2015 was $1.8 million that, if recognized, would impact the effective tax rate. The following table summarizes our cumulative gross unrecognized tax benefits for 2015, 2014 and 2013:
|  | 2015 |  | 2014 |  | 2013
Beginning balance |  | $ | 4,115 |  |  | $ | 5,544 |  |  | $ | 4,236 |
Increases to prior year tax positions |  | 25 |  |  | 217 |  |  | 391 |
Increases to current year tax positions |  | 345 |  |  | 661 |  |  | 1,353 |
Decreases to prior year tax positions |  | (2,399 | ) |  | — |  |  | — |
Decrease related to settlements |  | (314 | ) |  | (2,113 | ) |  | — |
Decrease related to lapse of statute of limitations |  | — |  |  | (194 | ) |  | (436 | )
Ending balance |  | $ | 1,772 |  |  | $ | 4,115 |  |  | $ | 5,544 |

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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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