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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Consolidated Income (loss) Before Income Taxes | The consolidated income before income taxes for 2014, 2013 and 2012 consists of the following (in thousands):
|  | 2014 |  | 2013 |  | 2012 |
Domestic |  | $ | 98,246 |  | $ | 77,465 |  | $ | 48,533 |
Foreign |  |  | 216 |  |  | 158 |  |  | 130 |
Total income before income taxes |  | $ | 98,462 |  | $ | 77,623 |  | $ | 48,663 |
Consolidated Income Tax Expense (benefit) | The consolidated income tax expense for 2014, 2013 and 2012 consists of the following components (in thousands):
|  | 2014 |  | 2013 |  | 2012 |
Current |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 19,036 |  | $ | 197 |  | $ | - |
State |  |  | 1,805 |  |  | 717 |  |  | 174 |
Foreign |  |  | 118 |  |  | 130 |  |  | 141 |
|  | $ | 20,959 |  | $ | 1,044 |  | $ | 315 |
Deferred |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 12,913 |  | $ | 26,753 |  | $ | (46,378) |
State |  |  | 3,778 |  |  | 3,412 |  |  | (10,871) |
Foreign |  |  | (118) |  |  | (115) |  |  | (34) |
|  | $ | 16,573 |  | $ | 30,050 |  | $ | (57,283) |
Total consolidated expense (benefit) |  | $ | 37,532 |  | $ | 31,094 |  | $ | (56,968) |
Reconciliation of Differences From The U.S. Federal Statutory Rate | The Company’s following table provides a reconciliation of differences from the U.S. Federal statutory rate of 35% as follows (in thousands):
|  | 2014 |  | 2013 |  | 2012 |
Pretax book income |  | $ | 98,462 |  | $ | 77,623 |  | $ | 48,663 |
Federal tax expense at 35% statutory rate |  |  | 34,462 |  |  | 27,168 |  |  | 17,032 |
State and local income taxes |  |  | 4,808 |  |  | 3,870 |  |  | 2,619 |
Foreign tax rate differential |  |  | (206) |  |  | (41) |  |  | (14) |
Benefit of domestic production deduction |  |  | (2,010) |  |  | - |  |  | - |
Reversal of income tax valuation allowance against net deferred tax assets |  |  | - |  |  | - |  |  | (59,887) |
Utilization of valuation allowance for net operating losses and credit carrryforwards - U.S. and states |  |  | (132) |  |  | - |  |  | (19,528) |
Other |  |  | 610 |  |  | 97 |  |  | 2,810 |
Total income tax expense (benefit) |  | $ | 37,532 |  | $ | 31,094 |  | $ | (56,968) |
Components of Deferred Tax Assets and Deferred Tax Liabilities | The components of deferred tax assets and deferred tax liabilities as of December 31, 2014 and 2013 were as follows (in thousands):
|  | 2014 |  | 2013 |
Deferred tax assets |  |  |  |  |  |  |
Tax credits and loss carryforwards |  | $ | 2,550 |  | $ | 7,452 |
Accrued liabilities |  |  | 6,882 |  |  | 6,964 |
Incentive compensation |  |  | 17,171 |  |  | 16,621 |
Other |  |  | 5,551 |  |  | 4,736 |
|  | $ | 32,154 |  | $ | 35,773 |
Deferred tax liabilities |  |  |  |  |  |  |
Property, plant and equipment |  |  | (2,858) |  |  | (295) |
Intangibles |  |  | (5,565) |  |  | (4,993) |
Prepaid assets |  |  | (638) |  |  | (690) |
Convertible note discount |  |  | (5,117) |  |  | (6,585) |
Other |  |  | (2,025) |  |  | (29) |
|  | $ | (16,203) |  | $ | (12,592) |
Net deferred tax asset before valuation allowances and reserves |  | $ | 15,951 |  | $ | 23,181 |
Valuation allowances |  |  | (1,307) |  |  | (1,438) |
Net deferred tax asset |  | $ | 14,644 |  | $ | 21,743 |
Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands) and all balances as of December 31, 2014 are included in either Other Noncurrent Liabilities or Current Deferred Income Taxes in the Company’s Consolidated Balance Sheet:
Balance at January 1, 2013 |  | $ | 10,980 |
Decrease in prior year tax positions |  |  | (9) |
Balance at December 31, 2013 |  | $ | 10,971 |
Decrease in prior year tax positions |  |  | (323) |
Balance at December 31, 2014 |  | $ | 10,648 |

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- 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
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