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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Tax Disclosure [Abstract] |
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, 2017, 2016 and 2015 as determined in accordance with ASC 740, Income Taxes (“ASC 740”), are as follows:
|  | Year Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 19,007 |  |  | $ | 14,515 |  |  | $ | 1,598 |
State and local |  |  | 2,708 |  |  |  | 1,425 |  |  |  | 2,431 |
Foreign |  |  | 440 |  |  |  | 567 |  |  |  | 210 |
|  | $ | 22,155 |  |  | $ | 16,507 |  |  | $ | 4,239 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 7,947 |  |  | $ | 10,629 |  |  | $ | 46,784 |
State and local |  |  | 1,105 |  |  |  | 2,296 |  |  |  | 6,233 |
|  | Year Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Foreign |  |  | (214 | ) |  |  | (25 | ) |  |  | (123 | )
|  | $ | 8,838 |  |  | $ | 12,900 |  |  | $ | 52,894 |
Income tax expense from operations |  | $ | 30,993 |  |  | $ | 29,407 |  |  | $ | 57,133 |
Reconciliation of Statutory Federal Income Tax Rate and Company's Effective Rate | A reconciliation of the statutory federal income tax rate and the Company’s effective rate is as follows:
|  | December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Federal statutory rate |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | %
Change in valuation allowance—International |  |  | 9.2 | % |  |  | 8.2 | % |  |  | 0.9 | %
Blended state income tax rate, net of federal benefit |  |  | 3.8 | % |  |  | 4.2 | % |  |  | 4.1 | %
Non-deductible transaction costs |  |  | 2.7 | % |  |  | — |  |  |  | — |
Stock-based compensation tax shortfalls |  |  | 1.8 | % |  |  | — |  |  |  | — |
Re-measurement of net deferred tax assets – Rate change |  |  | 0.8 | % |  |  | — |  |  |  | — |
Acquisition expense |  |  | — |  |  |  | 4.1 | % |  |  | 0.6 | %
Goodwill impairment |  |  | — |  |  |  | 1.2 | % |  |  | — |
Other differences, net |  |  | — |  |  |  | 0.2 | % |  |  | 1.0 | %
Effective rate |  |  | 53.3 | % |  |  | 52.9 | % |  |  | 41.6 | %
Summary of Deferred Tax Asset Recorded | A summary of the components of the Company’s deferred tax assets at December 31, 2017 and 2016 are as follows:
|  | December 31, |
|  | 2017 |  |  | 2016 |
Deferred tax assets: |  |  |  |  |
NOLs – Foreign |  | $ | 3,841 |  |  | $ | 4,551 |
Stock-based compensation |  |  | 1,474 |  |  |  | 5,382 |
Deferred rent liability |  |  | 1,257 |  |  |  | 2,024 |
NOLs – U.S. |  |  | 909 |  |  |  | 1,611 |
Accrued expenses |  |  | 526 |  |  |  | 4,552 |
Unrealized losses |  |  | 72 |  |  |  | 101 |
Other |  |  | 416 |  |  |  | 227 |
Deferred tax assets |  |  | 8,495 |  |  |  | 18,448 |
Deferred tax liabilities: |  |  |  |  |
Unrealized gains |  |  | 1,718 |  |  |  | — |
Fixed assets |  |  | 1,498 |  |  |  | 2,405 |
Goodwill and intangible assets |  |  | 388 |  |  |  | 301 |
Incentive compensation |  |  | — |  |  |  | 1,365 |
Deferred tax liabilities |  |  | 3,604 |  |  |  | 4,071 |
Total deferred tax assets less deferred tax liabilities |  |  | 4,891 |  |  |  | 14,377 |
Less: valuation allowance |  |  | (3,841 | ) |  |  | (4,551 | )
Deferred tax assets, net |  | $ | 1,050 |  |  | $ | 9,826 |

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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=84230637&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=84230637&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=84230637&loc=d3e32687-109319 + Details
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