NOTE 10 - INCOME TAXES

The components of income before income taxes are as follows (in thousands):

	Years Ended December 31,

	2014	2013	2012

Domestic	$ (21,349)	$ 86,567	$ 84,349
Foreign	(4,207)	8,150	660
Total income before taxes	$ (25,556)	$ 94,717	$ 85,009

The provision for income taxes consists of the following (in thousands):

	Years Ended December 31,
	2014	2013	2012
Current -
Federal	$ 24,050	$ 21,481	$ 27,393
State	5,604	2,681	4,438
Foreign	2,150	7,484	963
	31,804	31,646	32,794
Deferred -
Federal	(10,544)	8,631	1,835
State	(1,769)	167	146
Foreign	191	(5,964)	(751)
	(12,122)	2,834	1,230
	$ 19,682	$ 34,480	$ 34,024

The difference between income taxes computed at the federal statutory income tax rate (35%) and the provision for income taxes is as follows (in thousands):

	Years Ended December 31,
	2014	2013	2012
Income taxes computed at federal statutory rate	$ (8,945)	$ 33,150	$ 29,753
State income taxes, net of federal benefit	2,492	1,852	2,917
Non-tax deductible impairment expense computed at federal statutory rate	24,444	-	-
Foreign adjustment	1,353	-	-
Meals and entertainment	801	561	448
Domestic Production Activity Deduction	(1,040)	(566)	-
Other, primarily non-tax deductible, or non-taxable items	577	(517)	906
	$ 19,682	$ 34,480	$ 34,024

The net current and noncurrent components of deferred income tax balances are as follows (in thousands):

	December 31,
	2014	2013
Net current assets	$ 8,250	$ 7,713
Net non-current liabilities	(21,284)	(21,938)
Net assets (liabilities)	$ (13,034)	$ (14,225)

Deferred tax liabilities and assets were comprised of the following (in thousands):

	December 31,
	2014	2013
Deferred tax assets:
Goodwill	$ 17,906	$ 1,159
Allowance for doubtful accounts	2,979	2,849
Inventories	2,691	2,514
Accruals	2,125	945
Other	990	1,401
Total deferred tax assets	26,691	8,868
Deferred tax liabilities
Intangibles	(33,874)	(10,707)
Property and equipment	(10,343)	(11,697)
Unremitted foreign earnings	(52)	(818)
Cumulative translation adjustment	4,014	1,275
Other	530	(1,146)
Net deferred tax asset (liability)	$ (13,034)	$ (14,225)