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Note M - Income Taxes | 12 Months Ended
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Dec. 31, 2011
Income Tax Disclosure [Text Block] | Note M – Income Taxes The components of income before income taxes are as follows:
|  | 2011 |  |  | 2010 |  |  | 2009 |
Domestic |  | $ | 117,497 |  |  | $ | 88,308 |  |  | $ | 54,666 |
Foreign |  |  | 41,295 |  |  |  | 37,549 |  |  |  | 26,123 |
|  | $ | 158,792 |  |  | $ | 125,857 |  |  | $ | 80,789 |
The income tax provision (benefit) consists of the following:
|  | 2011 |  |  | 2010 |  |  | 2009 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 43,953 |  |  | $ | 36,482 |  |  | $ | 23,896 |
State and local |  |  | 8,560 |  |  |  | 8,253 |  |  |  | 4,403 |
Foreign |  |  | 6,814 |  |  |  | 6,195 |  |  |  | 4,310 |
|  |  | 59,327 |  |  |  | 50,930 |  |  |  | 32,609 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 1,588 |  |  |  | (651 | ) |  |  | (1,748 | )
State and local |  |  | 676 |  |  |  | (147 | ) |  |  | (179 | )
|  |  | 2,264 |  |  |  | (798 | ) |  |  | (1,927 | )
|  | $ | 61,591 |  |  | $ | 50,132 |  |  | $ | 30,682 |
A reconciliation between taxes computed at the federal statutory rate and the effective tax rate is as follows:
|  | December 31, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
Income taxes at federal statutory rate |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | %
State and local income taxes - net of federal income tax benefit |  |  | 3.9 |  |  |  | 3.9 |  |  |  | 2.9 |
Nondeductible items |  |  | 0.3 |  |  |  | 0.2 |  |  |  | 0.2 |
Valuation allowance (reversal) |  |  | (0.4 | ) |  |  | 0.5 |  |  |  | — |
Other |  |  | — |  |  |  | 0.2 |  |  |  | (0.1 | )
Effective rate |  |  | 38.8 | % |  |  | 39.8 | % |  |  | 38.0 | %
The Company applies the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Note M – Income Taxes (continued) In accordance with accounting guidance, the Company has opted to classify interest and penalties that would accrue according to the provisions of relevant tax law as income tax expense on the Consolidated Statements of Income. The Company determines the amount of interest expense to be recognized by applying the applicable statutory rate of interest to the difference between the tax position recognized and the amount previously taken or expected to be taken on a tax return. The Company’s tax years 2008 through 2011 remain open to examination for most taxing authorities. The Company has no unrecognized tax benefits recorded as of the year ended December 31, 2011. Although it is difficult to predict what would occur to change the Company’s unrecognized tax benefits over the next twelve months, the Company believes that there should be no change during the next twelve months. As of December 31, 2011, the Company has realized investment losses of $1,254 available to offset future investment gains and thus reduce future taxable income. A deferred tax asset has been established for recognized capital losses on securities which can only be offset to the extent of capital gains. These losses have a five year carryforward. Due to uncertainty in the marketplace and, with the exception of 2011, due to the Company’s recent history of recording little or no capital gains, the Company has recorded a valuation allowance for the entire balance of the investment losses reflecting management’s belief that it is more likely than not that the Company will not generate a sufficient amount of capital gains to offset previously recognized capital losses prior to the five year expiration period of these losses. The components of deferred tax assets and liabilities are as follows:
|  | December 31, |
|  | 2011 |  |  | 2010 |
Current deferred tax assets: |  |  |  |  |  |
Receivable allowances |  | $ | 7,246 |  |  | $ | 6,068 |
Inventory |  |  | 1,975 |  |  |  | 1,341 |
Unrealized (gain) loss |  |  | (6 | ) |  |  | (60 | )
Accrued expenses |  |  | 496 |  |  |  | 1,729 |
Other |  |  | 595 |  |  |  | 1,094 |
Gross current deferred tax asset |  |  | 10,306 |  |  |  | 10,172 |
Valuation allowance |  |  | (595 | ) |  |  | (1,094 | )
|  |  | 9,711 |  |  |  | 9,078 |
Non-current deferred tax assets (liabilities): |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | (1,889 | ) |  |  | 5,161 |
Deferred compensation |  |  | 4,902 |  |  |  | 2,583 |
Deferred rent |  |  | 2,388 |  |  |  | 2,174 |
Amortization of goodwill |  |  | (2,504 | ) |  |  | (2,142 | )
Other |  |  | (469 | ) |  |  | 68 |
|  |  | 2,428 |  |  |  | 7,844 |
Deferred tax assets |  | $ | 12,139 |  |  | $ | 16,922 |

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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 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 5: 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 6: 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 7: 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 8: 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=6881521&loc=d3e23780-122690 + Details
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