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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Components of Current and Deferred Income Tax Expense | The components of current and deferred income tax expense included in the Consolidated Statement of Operations for years ended December 31, 2016, 2015 and 2014 as determined in accordance with ASC 740, Income Taxes (“ASC 740”), are as follows:
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 14,515 |  |  | $ | 1,598 |  |  | $ | — |
State and local |  |  | 1,425 |  |  |  | 2,431 |  |  |  | 94 |
Foreign |  |  | 567 |  |  |  | 210 |  |  |  | — |
|  |  | 16,507 |  |  |  | 4,239 |  |  |  | 94 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 10,629 |  |  |  | 46,784 |  |  |  | 10,739 |
State and local |  |  | 2,296 |  |  |  | 6,233 |  |  |  | 1,664 |
Foreign |  |  | (25 | ) |  |  | (123 | ) |  |  | — |
|  |  | 12,900 |  |  |  | 52,894 |  |  |  | 12,403 |
Income tax expense from operations |  | $ | 29,407 |  |  | $ | 57,133 |  |  | $ | 12,497 |
Reconciliation of Statutory Federal Income Tax Rate and Company's Effective Rate | A reconciliation of the statutory federal income tax rate of 35% and the Company’s effective rate is as follows:
|  | December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Federal statutory rate |  |  | 35.00 | % |  |  | 35.00 | % |  |  | 35.00 | %
Change in valuation allowance |  |  | 8.16 | % |  |  | 0.90 | % |  |  | (27.74 | %)
State income tax rate, net of federal benefit |  |  | 4.17 | % |  |  | 4.11 | % |  |  | 1.55 | %
Acquisition expense |  |  | 4.06 | % |  |  | 0.61 | % |  |  | — |
Goodwill impairment |  |  | 1.16 | % |  |  | — |  |  |  | — |
Foreign tax differential |  |  | 0.68 | % |  |  | 0.82 | % |  |  | 0.82 | %
Change in effective state rate |  |  | 0.22 | % |  |  | (0.06 | %) |  |  | 6.86 | %
Other differences, net |  |  | (0.52 | %) |  |  | 0.27 | % |  |  | 0.50 | %
Effective rate |  |  | 52.93 | % |  |  | 41.65 | % |  |  | 16.99 | %
Summary of Deferred Tax Asset Recorded | A summary of the components of the Company’s deferred tax assets at December 31, 2016 and 2015 are as follows:
|  | December 31, |
|  | 2016 |  |  | 2015 |
Deferred tax assets: |  |  |  |  |  |  |  |
Stock-based compensation |  | $ | 5,382 |  |  | $ | 4,868 |
Accrued expenses |  |  | 4,552 |  |  |  | 10,197 |
NOLs – Foreign |  |  | 4,551 |  |  |  | 2,051 |
Deferred rent liability |  |  | 2,024 |  |  |  | 2,116 |
NOLs – U.S. |  |  | 1,611 |  |  |  | 1,828 |
Unrealized losses |  |  | 101 |  |  |  | 5 |
Other |  |  | 227 |  |  |  | 82 |
Deferred tax assets |  |  | 18,448 |  |  |  | 21,147 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Fixed assets |  |  | 2,405 |  |  |  | 2,272 |
Incentive compensation |  |  | 1,365 |  |  |  | 2,753 |
Goodwill and intangible assets |  |  | 301 |  |  |  | — |
Deferred tax liabilities |  |  | 4,071 |  |  |  | 5,025 |
Total deferred tax assets less deferred tax liabilities |  |  | 14,377 |  |  |  | 16,122 |
Less: valuation allowance |  |  | (4,551 | ) |  |  | (2,051 | )
Deferred tax assets, net |  | $ | 9,826 |  |  | $ | 14,071 |
European and Canadian Subsidiaries [Member] |
Schedule of Net Operating Losses for Tax Purposes | The Company’s European and Canadian subsidiaries generated NOLs outside the U.S. The following table summarizes the activity for these NOLs for the years ended December 31, 2016, 2015 and 2014, respectively.
|  | December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Balance – Beginning of year (pre-tax) |  | $ | 10,746 |  |  | $ | 4,061 |  |  | $ | — |
Foreign subsidiaries tax losses |  |  | 12,960 |  |  |  | 6,685 |  |  |  | 4,061 |
Balance – End of year (pre-tax) |  | $ | 23,706 |  |  | $ | 10,746 |  |  | $ | 4,061 |
Tax Rate – Blended |  |  | 19.2 | % |  |  | 19.1 | % |  |  | 20.1 | %
Balance – End of year (tax effected) |  | $ | 4,551 |  |  | $ | 2,051 |  |  | $ | 816 |

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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=65882285&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=65882285&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=65882285&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. + References Reference 1: 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 + Details
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