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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

INCOME TAXES [Abstract]

Income Before 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

Provision for Income Taxes

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

Difference between Income Taxes Computed at the Federal Statutory Income Tax Rate and the Provision for Income Taxes

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

Net Current and Noncurrent Components of Deferred Income Tax Balances

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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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
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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.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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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
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ 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)(1)(i))
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