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INCOME TAXES | 12 Months Ended
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Dec. 31, 2015
INCOME TAXES [Abstract] |
INCOME TAXES | NOTE 10 - INCOME TAXES The components of income before income taxes are as follows (in thousands):
|  | Years Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Domestic |  | $ | (42,179 | ) |  | $ | (21,349 | ) |  | $ | 86,567 |
Foreign |  |  | 3,259 |  |  |  | (4,207 | ) |  |  | 8,150 |
Total income before taxes |  | $ | (38,920 | ) |  | $ | (25,556 | ) |  | $ | 94,717 |
The provision for income taxes consists of the following (in thousands):
|  | Years Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Current - |  |  |  |  |  |  |  |  |
Federal |  | $ | 5,182 |  |  | $ | 24,050 |  |  | $ | 21,481 |
State |  |  | 1,499 |  |  |  | 5,604 |  |  |  | 2,681 |
Foreign |  |  | 2,493 |  |  |  | 2,150 |  |  |  | 7,484 |
|  |  | 9,174 |  |  |  | 31,804 |  |  |  | 31,646 |
Deferred - |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (7,090 | ) |  |  | (10,544 | ) |  |  | 8,631 |
State |  |  | - |  |  |  | (1,769 | ) |  |  | 167 |
Foreign |  |  | (1,934 | ) |  |  | 191 |  |  |  | (5,964 | )
|  |  | (9,024 | ) |  |  | (12,122 | ) |  |  | 2,834 |
|  | $ | 150 |  |  | $ | 19,682 |  |  | $ | 34,480 |
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, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Income taxes computed at federal statutory rate |  | $ | (13,622 | ) |  | $ | (8,945 | ) |  | $ | 33,150 |
State income taxes, net of federal benefit |  |  | 974 |  |  |  | 2,492 |  |  |  | 1,852 |
Non-tax deductible impairment expense computed at federal statutory rate |  |  | 15,765 |  |  |  | 24,444 |  |  |  | - |
Foreign adjustment |  |  | 689 |  |  |  | 1,353 |  |  |  | - |
Meals and entertainment |  |  | 620 |  |  |  | 801 |  |  |  | 561 |
Domestic Production Activity Deduction |  |  | (1,143 | ) |  |  | (1,040 | ) |  |  | (566 | )
Research and development tax credit |  |  | (1,730 | ) |  |  | (587 | ) |  |  | - |
Foreign tax credit |  |  | (921 | ) |  |  | (343 | ) |  |  | - |
Other, primarily non-tax deductible, or non-taxable items |  |  | (482 | ) |  |  | 1,507 |  |  |  | (517 | )
|  | $ | 150 |  |  | $ | 19,682 |  |  | $ | 34,480 |
The net current and noncurrent components of deferred income tax balances are as follows (in thousands):
|  | December 31, |
|  | 2015 |  |  | 2014 |
Net current assets |  | $ | 8,996 |  |  | $ | 8,250 |
Net non-current liabilities |  |  | (6,312 | ) |  |  | (21,284 | )
Net assets (liabilities) |  | $ | 2,684 |  |  | $ | (13,034 | )
Deferred tax liabilities and assets were comprised of the following (in thousands):
|  | December 31, |
|  | 2015 |  |  | 2014 |
Deferred tax assets: |  |  |  |  |  |
Goodwill |  | $ | 23,334 |  |  | $ | 17,906 |
Allowance for doubtful accounts |  |  | 2,692 |  |  |  | 2,979 |
Inventories |  |  | 3,312 |  |  |  | 2,691 |
Accruals |  |  | 2,354 |  |  |  | 2,125 |
Other |  |  | 730 |  |  |  | 990 |
Total deferred tax assets |  |  | 32,422 |  |  |  | 26,691 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Intangibles |  |  | (27,512 | ) |  |  | (33,874 | )
Property and equipment |  |  | (10,824 | ) |  |  | (10,343 | )
Unremitted foreign earnings |  |  | (259 | ) |  |  | (52 | )
Cumulative translation adjustment |  |  | 8,605 |  |  |  | 4,014 |
Other |  |  | 252 |  |  |  | 530 |
Net deferred tax asset (liability) |  | $ | 2,684 |  |  | $ | (13,034 | )

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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 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: 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 3: 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 4: 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 5: 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 + Details
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