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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2013
Income Tax Disclosure [Abstract] |
Schedule of components of income tax provision (benefit) | of the income tax expense (benefit) are as follows (in thousands):
| Year ended December 31,
| 2013 |  | 2012 |  | 2011
Current: |  |  |  |  |
Federal | $ | 15,225 |  |  | $ | 12,072 |  |  | $ | 4,550 |
State | 3,322 |  |  | 1,450 |  |  | 1,211 |
Foreign | 1,432 |  |  | 891 |  |  | 883 |
Total current | 19,979 |  |  | 14,413 |  |  | 6,644 |
Deferred: |  |  |  |  |
Federal | 1,336 |  |  | (18,836 | ) |  | 1,107 |
State | (543 | ) |  | 90 |  |  | 111 |
Total deferred | 793 |  |  | (18,746 | ) |  | 1,218 |
Income tax expense (benefit) | $ | 20,772 |  |  | $ | (4,333 | ) |  | $ | 7,862 |
Schedule of effective income tax rate reconciliation | A reconciliation of the U.S. federal statutory tax rate to the effective income tax rate is as follows:
| Year ended December 31,
| 2013 |  | 2012 |  | 2011
Federal statutory tax rate | 35.0 | % |  | 35.0 | % |  | 35.0 | %
State income taxes, net of federal benefit | 2.8 |  |  | 2.3 |  |  | 2.3 |
Change in valuation allowance | — |  |  | (41.0 | ) |  | (8.5 | )
Warrant liability fair value adjustment | — |  |  | (2.0 | ) |  | (8.5 | )
Domestic production activities deduction | (2.6 | ) |  | (3.0 | ) |  | (1.2 | )
Other | 1.3 |  |  | (0.8 | ) |  | 0.9 |
Effective income tax rate | 36.5 | % |  | (9.5 | )% |  | 20.0 | %
Schedule of deferred tax assets and liabilities | The components of deferred tax assets and liabilities are as follows (in thousands):
| December 31,
| 2013 |  | 2012
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 11,665 |  |  | $ | 12,285 |
Allowance for doubtful accounts | 383 |  |  | 262 |
Inventory valuation reserves | 1,503 |  |  | 1,109 |
Equity compensation | 3,693 |  |  | 4,216 |
Intangible assets and goodwill | — |  |  | 13,061 |
Accrued compensation | 598 |  |  | — |
Other | 1 |  |  | 2 |
Total gross deferred tax assets | 17,843 |  |  | 30,935 |
Valuation allowance | (856 | ) |  | (835 | )
Total deferred tax assets, net | 16,987 |  |  | 30,100 |
Deferred tax liabilities: |  |  |
Property and equipment | (12,374 | ) |  | (8,227 | )
Intangible assets and goodwill | (9,587 | ) |  | — |
Convertible debt | (5,020 | ) |  | (4,785 | )
Prepaid insurance and other | (47 | ) |  | (520 | )
Total gross deferred tax liabilities | (27,028 | ) |  | (13,532 | )
Net deferred tax (liabilities) assets | $ | (10,041 | ) |  | $ | 16,568 |
Deferred taxes are presented in the balance sheets as follows (in thousands):
| December 31,
| 2013 |  | 2012
Current deferred tax assets | $ | 2,522 |  |  | $ | 1,274 |
Non-current deferred tax assets | 15,012 |  |  | 16,045 |
Non-current deferred tax liabilities | (27,575 | ) |  | (751 | )
Net deferred tax (liabilities) assets | $ | (10,041 | ) |  | $ | 16,568 |

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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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- 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=6907707&loc=d3e32537-109319 + Details
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- 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=6907707&loc=d3e32687-109319 + Details
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