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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Income from continuing operations before income taxes

Income from continuing operations before income taxes was generated in the following jurisdictions:

		For the years ended December 31,
		2012				2011				2010
Domestic		$	1,492			$	6,220			$	806
Foreign			20,205				19,588				12,606
Total		$	21,697			$	25,808			$	13,412

Provision for income taxes

The provision for income taxes consists of the following:

		For the years ended December 31,
		2012				2011				2010
Current:
Federal		$	—			$	244			$	32
State			1				443				0
Foreign			4,402				4,933				2,461
Total current			4,403				5,620				2,493
Deferred:
Federal			866				(4,543	)			0
State			93				(285	)			0
Foreign			106				765				113
Total deferred			1,065				(4,063	)			113
Total		$	5,468			$	1,557			$	2,606

Differences between the income tax provisions and the provisions for income taxes

The differences between the income tax provisions computed using the statutory federal income tax rate of 34% and the provisions for income taxes reported in the consolidated statements of operations are as follows:

		For the years ended December 31,
		2012				2011				2010
Expected tax at statutory rate		$	7,377			$	8,775			$	4,560
Foreign taxes at other rates			(2,513	)			(1,758	)			(1,642	)
Change in valuation allowance due to:
NOL valuation reserve adjustments			—				(1,639	)			(335	)
Utilization of NOL carryforwards			(43	)			(4,873	)			(725	)
Generation of NOL carryforwards			—				134				157
Prior year tax adjustments			(19	)			171				67
Other, net			666				747				524
Total		$	5,468			$	1,557			$	2,606

Deferred income tax balances

The deferred income tax balances are comprised of the following:

		As of December 31,
		2012				2011
Deferred tax assets:
U.S. net operating loss carryforwards		$	299			$	508
Stock and long-term compensation plans			2,410				2,815
Foreign NOL and other carryforwards			2,675				2,502
US state income taxes			285				286
US alternative minimum tax			456				416
Deferred revenue			255				269
Accrued expenses and other			183				548
Total gross deferred tax assets			6,563				7,344
Less: Valuation allowance			(2,284	)			(2,088	)
Net deferred income tax assets		$	4,279			$	5,256
Deferred tax liabilities:
Swiss tax allowances		$	543			$	269
Intangible assets			141				324
Deferred tax liabilities		$	684			$	593

Summary of Income Tax Examinations

Our primary tax jurisdictions and the earliest year for which tax returns are subject to audit are presented in the following table. VASCO Data Security is abbreviated as “VDS”.

Australia		VDS Pty. Ltd.			2005
Austria		VDS Austria			2004
Belgium		VDS NV			2008
Belgium		VDS Europe NV			2008
Belgium		Lintel			2008
Belgium		Able NV			2006
Netherlands		VDS BV			2007
Singapore		VDS Asia Pacific			2007
Switzerland		VDS International GmbH			2006
United States		VDS International, Inc.			2005

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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 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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