XML 63 R40.htm IDEA: XBRL DOCUMENT v3.8.0.1

Income taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income taxes [Abstract]

Components of the provision for income taxes attributable to operations

Significant components of the provisions for income taxes attributable to operations consist of the following:

		Year Ended December 31,
(in thousands)		2017				2016				2015
Current
Federal		$	29,441			$	29,244			$	38,957
State			2,983				2,331				2,221
International			356				1,002				2,029
Total current			32,780				32,577				43,207
Deferred
Federal			(6,045	)			9,979				(119	)
State			(592	)			(272	)			(111	)
International			9,896				(5,587	)			1,323
Total deferred			3,259				4,120				1,093
Total provision for income taxes		$	36,039			$	36,697			$	44,300

Net deferred tax asset

The Company's net deferred tax asset (liability) consists of the following:

		December 31,
(in thousands)		2017				2016
Federal losses carryforward		$	1,603			$	4,130
State losses carryforward			17,234				13,682
Research and development carryforward			3,534				3,647
Scientific research and experimental development credit carryforward			16,493				16,594
Stock compensation			5,344				8,389
Foreign deferrals			34,072				58,647
Inventory reserves			1,607				2,273
Other			3,889				5,569
Deferred tax asset			83,776				112,931
Fixed assets			(23,121	)			(30,728	)
Intangible assets			(2,229	)			(5,882	)
Other			(10,451	)			(16,047	)
Deferred tax liability			(35,801	)			(52,657	)
Valuation allowance			(45,141	)			(54,178	)
Net deferred tax asset		$	2,834			$	6,096

Reconciliation of taxes determined by applying U.S. federal statutory rate to loss before provision for income taxes

The provision for income taxes differs from the amount of taxes determined by applying the U.S. federal statutory rate to income before the provision for income taxes as a result of the following:

		Year ended December 31,
(in thousands)		2017				2016				2015
US		$	80,690			$	63,330			$	117,385
International			37,943				35,891				18,331
Earnings before taxes on income			118,633				99,221				135,716
Federal tax at statutory rates		$	41,522			$	34,738			$	47,475
State taxes, net of federal benefit			1,274				529				852
Impact of foreign operations			(2,168	)			(9,937	)			(1,640	)
Change in valuation allowance			314				10,458				(950	)
Tax credits			(1,918	)			(1,572	)			(2,088	)
Transition tax			13,585				-				-
Change in U.S. tax rate			(13,403	)			-				-
Stock compensation			(3,978	)			-				-
Other differences			(118	)			1,103				733
Permanent differences			929				1,378				(82	)
Provision for income taxes		$	36,039			$	36,697			$	44,300

Gross unrecognized tax benefits activity

The table below presents the gross unrecognized tax benefits activity for 2017, 2016 and 2015:

(in thousands)
Gross unrecognized tax benefits at December 31, 2014		$	1,248
Increases for tax positions for prior years			150
Decreases for tax positions for prior years			-
Increases for tax positions for current year			59
Settlements			-
Lapse of statute of limitations			-
Gross unrecognized tax benefits at December 31, 2015			1,457
Increases for tax positions for prior years			5
Decreases for tax positions for prior years			-
Increases for tax positions for current year			299
Settlements			-
Lapse of statute of limitations			-
Gross unrecognized tax benefits at December 31, 2016			1,761
Increases for tax positions for prior years			-
Decreases for tax positions for prior years			-
Increases for tax positions for current year			531
Settlements			(318	)
Lapse of statute of limitations			-
Gross unrecognized tax benefits at December 31, 2017		$	1,974

X

- References

No definition available.

+ 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=84230637&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=84230637&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=84230637&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 the change in unrecognized tax benefits.

+ 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=96868398&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 15A
-URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319

+ Details

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