XML 44 R32.htm IDEA: XBRL DOCUMENT v2.4.0.8

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Taxes

Schedule of U.S. and foreign income before income taxes

U.S. and foreign income before income taxes consist of the following (in thousands):

		2013			2012			2011
United States		$	31,823		$	49,021		$	56,836
Foreign			214,842			190,574			181,367
		$	246,665		$	239,595		$	238,203

Schedule of components of income tax provision (benefit)

The income tax provision (benefit) related to income before income taxes consists of the following components (in thousands):

		2013			2012			2011
Current:
U.S. federal statutory tax		$	8,167		$	6,858		$	7,685
State			1,822			938			2,767
Foreign			36,254			24,649			27,514
			46,243			32,445			37,966
Deferred:
U.S. federal statutory tax			2,171			7,642			6,218
State			566			1,380			2,194
Foreign			(10,980)			643			(6,771)
			(8,243)			9,665			1,641
Non-current tax expense (income)			1,505			(3,866)			(606)
		$	39,505		$	38,244		$	39,001

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

		2013		2012		2011
U.S. federal statutory tax rate		35.0%		35.0%		35.0%
Foreign earnings, net of foreign taxes		(18.7)		(16.7)		(18.7)
State income taxes, net of U.S. federal income tax benefit		0.6		0.6		1.3
Other permanent differences		(0.9)		(2.9)		(1.2)
Effective income tax rate		16.0%		16.0%		16.4%

Schedule of net deferred tax liabilities

The temporary differences which comprise our net deferred tax liabilities are as follows (in thousands):

		As of December 31,
		2013			2012
Gross Deferred Tax Assets:
Bad debt reserve		$	6,426		$	4,573
Net operating loss			774			675
Accrued and other shared-based compensation			21,393			14,909
Accrued expenses			10,032			2,069
Unrealized derivative losses			558			316
Customer deposits			5,149			7,545
Unrealized foreign exchange			6,082			914
Total gross deferred tax assets			50,414			31,001
Less: Valuation allowance			—			—
Gross deferred tax assets, net of valuation allowance			50,414			31,001
Deferred Tax Liabilities:
Depreciation			(19,199)			(11,999)
Goodwill and intangible assets			(28,099)			(23,108)
Prepaid expenses, deductible for tax purposes			(3,452)			(1,719)
Other			(740)			(1,330)
Gross deferred tax liabilities			(51,490)			(38,156)
Net deferred tax liabilities		$	(1,076)		$	(7,155)
Reported on the consolidated balance sheets as:
Other current assets for deferred tax assets, current		$	32,118		$	15,282
Identifiable intangible and other non-current assets for deferred tax assets, non-current		$	16,342		$	5,406
Accrued expenses and other current liabilities for deferred tax liabilities, current		$	3,229		$	6,084
Non-current income tax liabilities, net for deferred tax liabilities, non-current		$	46,307		$	21,759

Schedule of expiration of NOL carryforward

The NOLs as of December 31, 2013 originated in various foreign countries including India, Brazil, and The Netherlands. We have recorded a deferred tax asset of $0.8 million reflecting the benefit of the NOL carryforward as of December 31, 2013. This deferred tax asset expires as follows (in thousands):

Expiration Date		Deferred Tax Asset
December 31, 2014		$	74
December 31, 2021			76
December 31, 2022			455
Indefinite			169
Total		$	774

Schedule of reconciliation of the total amounts of unrecognized income tax benefits

		2013			2012			2011
Unrecognized tax benefit – opening balance		$	22,394		$	25,574		$	26,293
Gross increases – tax positions in prior period			2,559			—			—
Gross decreases – tax positions in prior period			(39)			(7,659)			—
Gross increases – tax positions in current period			4,999			5,730			5,890
Gross decreases – tax positions in current period			—			—			(64)
Settlements			—			—			(62)
Lapse of statute of limitations			(3,426)			(1,251)			(6,483)
Unrecognized tax benefit – ending balance		$	26,487		$	22,394		$	25,574

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		2011		2010, 2012-2013
Singapore		None		2010-2013
United Kingdom		None		2004-2013
Brazil		2009		2010-2013
Chile		None		2008-2013
Denmark		None		2004-2013

X

- Definition

Tabular disclosure of the expiration of NOL carryforward deferred tax asset.

+ References

No definition available.

+ Details

Name:	int_ScheduleOfExpirationOfNOLCarryforwardTableTextBlock
Namespace Prefix:	int_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

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

X

- Definition

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

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: 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

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ 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

+ Details

Name:	us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 55

-Paragraph 217

-URI http://asc.fasb.org/extlink&oid=32707879&loc=d3e36027-109320



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15

-Subparagraph (c),(d)(2)-(3)

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

+ Details

Name:	us-gaap_SummaryOfIncomeTaxExaminationsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration