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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Schedule Of Income Before Income Taxes | Income (loss) before income taxes consisted of the following:
| Years Ended December 31,
| 2014 |  | 2013 |  | 2012
|  |  | (As adjusted)* |  |
| (In thousands)
United States operations | $ | 16,766 |  |  | $ | (33,162 | ) |  | $ | 25,293 |
Foreign operations | 26,213 |  |  | 1,860 |  |  | 26,736 |
Total | $ | 42,979 |  |  | $ | (31,302 | ) |  | $ | 52,029 |
*See Note 2 of these consolidated financial statements for discussion of the impact of the change in accounting for the medical device excise tax.
Schedule Of Effective Income Tax Rate Reconciliation | A reconciliation of the U.S. Federal statutory rate to the Company’s effective tax rate is as follows:
| Years Ended December 31,
| 2014 |  | 2013 |  | 2012
|  |  | (As adjusted)* |  |
Federal statutory rate | 35.0 | % |  | 35.0 | % |  | 35.0 | %
Increase (decrease) in income taxes resulting from: |  |  |  |  |
State income taxes, net of federal tax benefit | 5.6 | % |  | 0.3 | % |  | 2.6 | %
Foreign operations | (16.0 | )% |  | (17.2 | )% |  | (14.7 | )%
Goodwill impairment | — | % |  | 34.1 | % |  | — | %
Changes in valuation allowances | 3.0 | % |  | (1.1 | )% |  | (0.4 | )%
Uncertain tax positions | (3.8 | )% |  | (8.5 | )% |  | (2.5 | )%
Research and development credit | (2.2 | )% |  | (1.8 | )% |  | — | %
Return to provision | 1.5 | % |  | (6.6 | )% |  | (0.5 | )%
Other | (2.2 | )% |  | (1.5 | )% |  | 1.3 | %
Effective tax rate | 20.9 | % |  | 32.7 | % |  | 20.8 | %
*See Note 2 of these consolidated financial statements for discussion of the impact of the change in accounting for the medical device excise tax.
Schedule Of Provision For Income Taxes | The provision for income taxes consisted of the following:
| Years Ended December 31,
| 2014 |  | 2013 |  | 2012
|  |  | (As adjusted)* |  |
| (In thousands)
Current: |  |  |  |  |
Federal | $ | 4,224 |  |  | $ | 3,160 |  |  | $ | 3,614 |
State | 1,683 |  |  | (1,374 | ) |  | 1,373 |
Foreign | 4,032 |  |  | 1,124 |  |  | 4,301 |
Total current | $ | 9,939 |  |  | $ | 2,910 |  |  | $ | 9,288 |
Deferred: |  |  |  |  |
Federal | (200 | ) |  | (13,817 | ) |  | 4,053 |
State | 953 |  |  | (757 | ) |  | 497 |
Foreign | (1,717 | ) |  | 1,429 |  |  | (3,013 | )
Total deferred | $ | (964 | ) |  | $ | (13,145 | ) |  | $ | 1,537 |
Provision (benefit) for income taxes | $ | 8,975 |  |  | $ | (10,235 | ) |  | $ | 10,825 |
*See Note 2 of these consolidated financial statements for discussion of the impact of the change in accounting for the medical device excise tax.
Schedule Of Deferred Tax Assets And Liabilities | The income tax effects of significant temporary differences that give rise to deferred tax assets and liabilities, shown before jurisdictional netting, are presented below:
| December 31,
| 2014 |  | 2013
|  |  | (As adjusted)*
| (In thousands)
Current assets: |  |  |
Doubtful accounts | $ | 1,632 |  |  | $ | 1,791 |
Inventory related items | 35,660 |  |  | 34,968 |
Tax credits | 3,052 |  |  | 3,883 |
Accrued vacation | 2,667 |  |  | 2,492 |
Accrued bonus | 5,085 |  |  | 1,266 |
Net operating loss carryforwards | 2,454 |  |  | 4,550 |
Other | 1,302 |  |  | 1,960 |
Total current deferred tax assets | 51,852 |  |  | 50,910 |
Less valuation allowance | (681 | ) |  | (2,232 | )
Current deferred tax assets after valuation allowance | $ | 51,171 |  |  | $ | 48,678 |
Current liabilities: |  |  |
Other | (597 | ) |  | (646 | )
Total current deferred tax liabilities | $ | (597 | ) |  | $ | (646 | )
Net current deferred tax assets | $ | 50,574 |  |  | $ | 48,032 |
*See Note 2 of these consolidated financial statements for discussion of the impact of the change in accounting for the medical device excise tax.
| December 31,
| 2014 |  | 2013
|  |  | (As adjusted)*
| (In thousands)
Non-current assets: |  |  |
Stock compensation | 15,349 |  |  | 14,879 |
Deferred revenue | 3 |  |  | 186 |
Net operating loss carryforwards | 21,368 |  |  | 26,613 |
Federal & state tax credits | 14,531 |  |  | 19,045 |
Other | 581 |  |  | 897 |
Total non-current deferred tax assets | 51,832 |  |  | 61,620 |
Less valuation allowance | (6,579 | ) |  | (6,828 | )
Non-current deferred tax assets after valuation allowance | $ | 45,253 |  |  | $ | 54,792 |
Non-current liabilities: |  |  |
Intangible & fixed assets | (123,257 | ) |  | (41,563 | )
Other | (52 | ) |  | 105 |
Total non-current deferred tax liabilities | $ | (123,309 | ) |  | $ | (41,458 | )
Net non-current deferred tax assets (liabilities) | $ | (78,056 | ) |  | $ | 13,334 |
Total net deferred tax assets (liabilities) | $ | (27,482 | ) |  | $ | 61,366 |
*See Note 2 of these consolidated financial statements for discussion of the impact of the change in accounting for the medical device excise tax.
Schedule Of Uncertain Tax Benefits Reconciliation | A reconciliation of the beginning and ending amount of uncertain tax benefits is as follows:
| Years Ended December 31,
| 2014 |  | 2013 |  | 2012
|  |  | (As adjusted)* |  |
| (In thousands)
Balance, beginning of year | $ | 3,396 |  |  | $ | 6,136 |  |  | $ | 3,927 |
Gross increases: |  |  |  |  |
Current year tax positions | — |  |  | 346 |  |  | — |
Prior years' tax positions | 543 |  |  | 729 |  |  | 7,796 |
Gross decreases: |  |  |  |  |
Prior years' tax positions | (286 | ) |  | (477 | ) |  | — |
Settlements | (828 | ) |  | — |  |  | (3,523 | )
Statute of limitations lapses | (1,580 | ) |  | (3,338 | ) |  | (2,064 | )
Balance, end of year | $ | 1,245 |  |  | $ | 3,396 |  |  | $ | 6,136 |
*See Note 2 of these consolidated financial statements for discussion of the impact of the change in accounting for the medical device excise tax.

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