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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes

Schedule of U.S. and foreign income (loss) before income taxes

		2011		2010		2009
United States		$56,836		$(2,886)		$3,916
Foreign		181,367		180,416		145,993
		$238,203		$177,530		$149,909

Schedule of components of income tax provision (benefit)

		2011		2010		2009
Current:
U.S. federal statutory tax		$7,685		$12,245		$—
State		2,767		1,358		(242)
Foreign		27,514		22,367		20,897
		37,966		35,970		20,655
Deferred:
U.S. federal statutory tax		6,218		(3,776)		5,126
State		2,194		(1,926)		625
Foreign		(6,771)		(1,677)		2,168
		1,641		(7,379)		7,919
Non-current tax (income) expense		(606)		2,436		3,772
		$39,001		$31,027		$32,346

Reconciliation of the U.S. federal statutory income tax rate to effective income tax rate

		2011		2010		2009
U.S. federal statutory tax rate		35.0%		35.0%		35.0%
Foreign earnings, net of foreign taxes		(18.7)		(18.6)		(16.9)
State income taxes, net of U.S. federal income tax benefit		1.3		0.1		—
Other permanent differences		(1.2)		1.0		3.5
Effective income tax rate		16.4%		17.5%		21.6%

Schedule of net deferred income tax assets

		As of December 31,
		2011		2010
Excess of provision for bad debts over charge-offs		$4,744		$4,400
Net operating loss		66		113
Excess of tax over financial reporting for depreciation of fixed assets		(4,650)		(2,101)
Excess of tax over financial reporting amortization of identifiable intangible assets and goodwill		(15,772)		(12,729)
Accrued compensation expenses recognized for financial reporting purposes, not currently deductible for tax purposes		20,099		17,181
Accrued expenses		1,680		6,800
Prepaid expenses deductible for tax purposes		(1,204)		(1,341)
Unrealized derivative gains		(5,572)		(743)
Customer deposits		6,154		2,489
Unrealized foreign exchange		906		(974)
Other		(834)		(1,372)
		5,617		11,723
Valuation allowance		—		—
Total deferred income tax assets, net		$5,617		$11,723
Deferred income tax assets, current		$13,238		$13,492
Deferred income tax assets, non-current		$2,661		$5,135
Deferred income tax liabilities, current		$1,009		$1,068
Deferred income tax liabilities, non-current		$9,273		$5,836

Schedule of reconciliation of the total amounts of unrecognized tax benefits

		2011		2010		2009
Unrecognized tax benefit – opening balance		$26,293		$27,158		$21,624
Gross decreases – tax positions in prior period		—		—		(275)
Gross increases – tax positions in current period		5,890		4,095		6,596
Gross decreases – tax positions in current period		(64)		(1,629)		—
Settlements		(62)		—		—
Lapse of statute of limitations		(6,483)		(3,331)		(787)
Unrecognized tax benefit – ending balance		$25,574		$26,293		$27,158

Schedule of open tax years by jurisdiction with major uncertain tax positions

Open Tax Year
Jurisdiction		Examination in progress		Examination not yet initiated
United States		2008		2009-2011
Singapore		None		2008-2011
United Kingdom		None		2005-2011
Brazil		None		2007-2011
South Korea		None		2006-2011
Netherlands		None		2007-2011
Chile		None		2005-2011
Denmark		None		2005-2011

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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.

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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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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded.

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