XML 76 R42.htm IDEA: XBRL DOCUMENT v3.8.0.1

Income Taxes (Tables)

12 Months Ended

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

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration