XML 91 R24.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES The components of income (loss) before taxes from continuing operations consisted of the following for the years ended December 31 (in thousands):
| 2014 |  | 2013 |  | 2012
Domestic | $ | (87,179 | ) |  | $ | 19,787 |  |  | $ | 18,468 |
Foreign | 2,429 |  |  | (20,619 | ) |  | 3,699 |
(Loss) income before taxes from continuing operations | $ | (84,750 | ) |  | $ | (832 | ) |  | $ | 22,167 |
The provision for (benefit of) income taxes from continuing operations for the years ended December 31 consisted of the following (in thousands):
| 2014 |  | 2013 |  | 2012
Current: |  |  |  |  |
U.S. Federal | $ | 1,684 |  |  | $ | 3,635 |  |  | $ | 5,780 |
State | 1,265 |  |  | 1,507 |  |  | 1,483 |
Foreign | 733 |  |  | 892 |  |  | 1,260 |
Total current | 3,682 |  |  | 6,034 |  |  | 8,523 |
Deferred: |  |  |  |  |
U.S. Federal | (6,373 | ) |  | 2,655 |  |  | 844 |
State | (203 | ) |  | (2,847 | ) |  | 489 |
Foreign | (64 | ) |  | (1,045 | ) |  | (339 | )
Total deferred | (6,640 | ) |  | (1,237 | ) |  | 994 |
Provision for income taxes | $ | (2,958 | ) |  | $ | 4,797 |  |  | $ | 9,517 |
The (benefit of) provision for income taxes from discontinued operations for the years ended December 31 consisted of the following (in thousands):
| 2014 |  | 2013 |  | 2012
Current: |  |  |  |  |
U.S. Federal | $ | (18 | ) |  | $ | (3 | ) |  | $ | (98 | )
State | (1 | ) |  | — |  |  | (186 | )
Foreign | — |  |  | — |  |  | — |
(Benefit of) provision for income taxes | $ | (19 | ) |  | $ | (3 | ) |  | $ | (284 | )
The provision for income taxes from continuing operations differs from the federal statutory rate of 35% for the years December 31 due to the following (in thousands):
| 2014 |  | 2013 |  | 2012
Statutory rate | $ | (29,664 | ) |  | 35.0 | % |  | $ | (291 | ) |  | 35.0 | % |  | $ | 7,758 |  |  | 35.0 | %
Intangible asset impairment | 26,637 |  |  | (31.4 | )% |  | 7,241 |  |  | (870.3 | )% |  | 1,514 |  |  | 6.8 | %
State taxes, less federal effect | 606 |  |  | (0.7 | )% |  | 1,382 |  |  | (166.1 | )% |  | 1,282 |  |  | 5.8 | %
Change in valuation allowance | 94 |  |  | (0.1 | )% |  | (2,268 | ) |  | 272.6 | % |  | (39 | ) |  | (0.2 | )%
Federal tax credits | (255 | ) |  | 0.3 | % |  | (517 | ) |  | 62.1 | % |  | (270 | ) |  | (1.2 | )%
Uncertain tax positions | (169 | ) |  | 0.2 | % |  | (515 | ) |  | 61.9 | % |  | (872 | ) |  | (3.9 | )%
Foreign rate differential | (311 | ) |  | 0.4 | % |  | (163 | ) |  | 19.6 | % |  | (335 | ) |  | (1.5 | )%
Non-deductible expenses | 173 |  |  | (0.2 | )% |  | (66 | ) |  | 7.9 | % |  | 366 |  |  | 1.7 | %
Other | (69 | ) |  | — | % |  | (6 | ) |  | 0.7 | % |  | 113 |  |  | 0.5 | %
| $ | (2,958 | ) |  | 3.5 | % |  | $ | 4,797 |  |  | (576.6 | )% |  | $ | 9,517 |  |  | 43.0 | %
Deferred tax liabilities (assets) at December 31 consist of the following (in thousands):
| 2014 |  | 2013
Depreciation | $ | 18,896 |  |  | $ | 19,278 |
Goodwill | 29,175 |  |  | 33,982 |
Intangible assets | 18,637 |  |  | 20,951 |
Other | 1,464 |  |  | 1,466 |
Gross deferred tax liabilities | 68,172 |  |  | 75,677 |
Equity compensation | (11,826 | ) |  | (12,858 | )
Other | (16,988 | ) |  | (15,623 | )
Gross deferred tax assets | (28,814 | ) |  | (28,481 | )
Valuation allowances | 400 |  |  | 306 |
Deferred tax assets, net of valuation allowances | (28,414 | ) |  | (28,175 | )
Net deferred tax liabilities | $ | 39,758 |  |  | $ | 47,502 |
Net current deferred tax assets of $10,014,000 and $7,622,000 are included in other current assets in the consolidated balance sheet at December 31, 2014 and 2013, respectively. Deferred taxes include net deferred tax assets relating to certain state and foreign tax jurisdictions. A reduction of the carrying amount of deferred tax assets by a valuation allowance is required if it is more likely than not that such assets will not be realized. The following sets forth a reconciliation of the beginning and ending amount of the Company’s valuation allowance (in thousands):
| 2014 |  | 2013 |  | 2012
Balance as of January 1 | $ | 306 |  |  | $ | 2,574 |  |  | $ | 2,613 |
Cost charged to the tax provision | 144 |  |  | — |  |  | 266 |
Reductions | (50 | ) |  | (2,268 | ) |  | (305 | )
Balance as of December 31 | $ | 400 |  |  | $ | 306 |  |  | $ | 2,574 |
The Company made net payments for income taxes, for the following amounts for the years ended December 31 (in thousands):
| 2014 |  | 2013 |  | 2012
Payments made for income taxes, net | $ | (6,509 | ) |  | $ | (7,564 | ) |  | $ | (8,944 | )
Provision has not been made for U.S. taxes on $28,237,000 of undistributed earnings of foreign subsidiaries. Those earnings have been and will continue to be indefinitely reinvested. As of December 31, 2014, the Company’s foreign operations held $19,144,000 of cash that provides foreign operations with liquidity to reinvest in working capital and capital expenditures for their operations. Any excess earnings could be used to grow the Company’s foreign operations through launches of new capital projects or additional acquisitions. Determination of the amount of unrecognized deferred U.S. income tax liability is not practicable due to the complexities associated with its hypothetical calculation. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
| 2014 |  | 2013 |  | 2012
Balance as of January 1 | $ | 1,694 |  |  | $ | 2,485 |  |  | $ | 3,687 |
Additions for tax positions of the current year | 180 |  |  | 83 |  |  | 105 |
Additions for tax positions of prior years | 93 |  |  | — |  |  | 67 |
Reductions for tax positions of prior years for: |  |  |  |  |
Settlements and changes in judgment | (154 | ) |  | (26 | ) |  | (857 | )
Lapses of applicable statute of limitations | (399 | ) |  | (848 | ) |  | (517 | )
Balance as of December 31 | $ | 1,414 |  |  | $ | 1,694 |  |  | $ | 2,485 |
The Company and its U.S. subsidiaries file a U.S. federal consolidated income tax return. Foreign and U.S. state jurisdictions have statute of limitations generally ranging from four to ten years. Currently, the Company is under examination in Germany for 2009 through 2012 and the United States for 2012 through 2013. All unrecognized tax benefits would affect the effective tax rate, if recognized as of December 31, 2014 and 2013. The Company classifies accrued interest and penalties related to unrecognized tax benefits in income tax expense. Interest (net of federal tax benefit) and penalties recognized during the years ended December 31 were (in thousands):
| 2014 |  | 2013 |  | 2012
Interest and penalties recognized as income | $ | (28 | ) |  | $ | (92 | ) |  | $ | (48 | )
At December 31, 2014, the Company had net operating loss carry forwards for federal, state, and foreign income tax purposes totaling $31,700,000 which will expire between 2015 and 2033. The Company recognized $1,796,000 of deferred tax assets, net of the federal tax benefit, related to these net operating losses prior to any valuation allowances.

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

X
- 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 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: 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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 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 Reference 6: 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 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration