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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes

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

		2014			2013			2012
United States		$	56,575		$	31,823		$	49,021
Foreign			212,976			214,842			190,574
		$	269,551		$	246,665		$	239,595

Schedule of components of income tax provision (benefit)

		2014			2013			2012
Current:
U.S. federal statutory tax		$	14,829		$	8,167		$	6,858
State			2,540			1,822			938
Foreign			22,016			36,254			24,649
			39,385			46,243			32,445
Deferred:
U.S. federal statutory tax			10,707			2,171			7,642
State			2,674			566			1,380
Foreign			(3,030)			(10,980)			643
			10,351			(8,243)			9,665
Non-current tax expense (income)			1,408			1,505			(3,866)
		$	51,144		$	39,505		$	38,244

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

		2014		2013		2012
U.S. federal statutory tax rate		35.0	%	35.0	%	35.0	%
Foreign earnings, net of foreign taxes		(18.2)		(18.7)		(16.7)
State income taxes, net of U.S. federal income tax benefit		1.3		0.6		0.6
Other permanent differences		0.9		(0.9)		(2.9)
Effective income tax rate		19.0	%	16.0	%	16.0	%

Schedule of net deferred tax liabilities

		As of December 31,
		2014			2013
Gross Deferred Tax Assets:
Bad debt reserve		$	5,465		$	6,426
Net operating loss			4,819			774
Accrued and other share-based compensation			21,654			21,393
Accrued expenses			8,606			10,032
Unrealized derivative losses			—			558
Customer deposits			6,095			5,149
Installment sale			6,592			—
Unrealized foreign exchange			7,577			6,082
Total gross deferred tax assets			60,808			50,414
Less: Valuation allowance			—			—
Gross deferred tax assets, net of valuation allowance			60,808			50,414
Deferred Tax Liabilities:
Depreciation			(13,133)			(19,199)
Goodwill and intangible assets			(45,294)			(28,099)
Prepaid expenses, deductible for tax purposes			(4,519)			(3,452)
Unrealized derivatives			(8,188)			—
Other			(1,248)			(740)
Total gross deferred tax liabilities			(72,382)			(51,490)
Net deferred tax liabilities		$	(11,574)		$	(1,076)
Reported on the consolidated balance sheets as:
Other current assets for deferred tax assets, current		$	22,825		$	32,118
Identifiable intangible and other non-current assets for deferred tax assets, non-current		$	15,555		$	16,342
Accrued expenses and other current liabilities for deferred tax liabilities, current		$	492		$	3,229
Non-current income tax liabilities, net for deferred tax liabilities, non-current		$	49,462		$	46,307

Schedule of expiration of NOL carryforward

		Deferred
Expiration Date		Tax Asset
December 31, 2016		$	73
December 31, 2021			124
December 31, 2023			189
December 31, 2024			472
Indefinite			3,961
Total		$	4,819

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

		2014			2013			2012
Unrecognized Tax Liabilities – opening balance		$	26,487		$	22,394		$	25,574
Gross increases – tax positions in prior period			65			2,559			—
Gross decreases – tax positions in prior period			(2,833)			(39)			(7,659)
Gross increases – tax positions in current period			6,636			4,999			5,730
Gross decreases – tax positions in current period			—			—			—
Settlements			(3,597)			—			—
Lapse of statute of limitations			(2,414)			(3,426)			(1,251)
Unrecognized Tax Liabilities – ending balance		$	24,344		$	26,487		$	22,394

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

		Open Tax Year
		Examination		Examination not
Jurisdiction		in progress		yet initiated
United States		2011		2012 - 2014
Singapore		None		2011 - 2014
United Kingdom		None		2004 - 2014
Brazil		2009		2010 - 2014
Chile		None		2009 - 2014
Denmark		2011		2012 - 2014

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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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