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Income taxes (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | Income before income taxes consisted of the following:
| Year ended December 31,
(in thousands) | 2015 |  | 2014 |  | 2013
Domestic | $ | 13,562 |  |  | $ | 114,937 |  |  | $ | 57,251 |
Foreign | 39,023 |  |  | 66,038 |  |  | 34,078
| $ | 52,585 |  |  | $ | 180,975 |  |  | $ | 91,329 |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense consisted of the following:
| Year ended December 31,
(in thousands) | 2015 |  | 2014 |  | 2013
Current: |  |  |  |  |
Federal | $ | 18,548 |  |  | $ | 55,846 |  |  | $ | 28,856 |
State | 3,007 |  |  | 6,075 |  |  | 1,634
Foreign | 6,539 |  |  | 8,219 |  |  | 8,058
Total current | 28,094 |  |  | 70,140 |  |  | 38,548
Deferred: |  |  |  |  |
Federal | (11,211 | ) |  | (13,551 | ) |  | (7,268)
State | (204 | ) |  | (3,369 | ) |  | (861)
Foreign | (225 | ) |  | (333 | ) |  | 332
Total deferred | (11,640 | ) |  | (17,253 | ) |  | (7,797)
Income tax expense | $ | 16,454 |  |  | $ | 52,887 |  |  | $ | 30,751 |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense reconciles to the amount computed by applying the federal statutory rate of 35% to income before income taxes as follows:
| Year ended December 31,
| 2015 |  | 2014 |  | 2013
(in thousands, except percentage) | $ |  | % |  | $ |  | % |  | $ |  | %
Reconciliation to statutory rate: |  |  |  |  |  |  |  |  |  |  |
Tax at federal statutory rate | $ | 18,405 |  |  | 35.0 | % |  | $ | 63,341 |  |  | 35.0 | % |  | $ | 31,965 |  |  | 35.0 | %
State taxes, net of federal benefit | 1,454 |  |  | 2.8 |  |  | 4,911 |  |  | 2.7 |  |  | 2,344 |  |  | 2.6 |
Impact of foreign operations | 6,434 |  |  | 12.2 |  |  | (13,305 | ) |  | (7.4 | ) |  | (113 | ) |  | (0.1 | )
Stock-based compensation | 2,390 |  |  | 4.5 |  |  | 8,050 |  |  | 4.4 |  |  | 2,982 |  |  | 3.3 |
Tax credits | (21,891 | ) |  | (41.6 | ) |  | (10,616 | ) |  | (5.9 | ) |  | (5,637 | ) |  | (6.2 | )
Change in valuation allowance | 8,555 |  |  | 16.3 |  |  | — |  |  | — |  |  | — |  |  | — |
Other | 1,107 |  |  | 2.1 |  |  | 506 |  |  | 0.4 |  |  | (790 | ) |  | (0.9 | )
| $ | 16,454 |  |  | 31.3 | % |  | $ | 52,887 |  |  | 29.2 | % |  | $ | 30,751 |  |  | 33.7 | %
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities were as follows:
| December 31,
(in thousands) | 2015 |  | 2014
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 339 |  |  | $ | — |
Tax credit carryforwards | 9,372 |  |  | 2,347 |
Stock-based compensation | 19,096 |  |  | 9,950 |
Allowance for returns | 8,812 |  |  | 9,466 |
Accruals and reserves | 20,398 |  |  | 14,484 |
Total deferred tax assets | 58,017 |  |  | 36,247 |
Valuation allowance | (8,555 | ) |  | — |
Total deferred tax assets, net of valuation allowance | 49,462 |  |  | 36,247 |
Deferred tax liabilities: |  |  |
Depreciation and amortization | (6,937 | ) |  | (3,418 | )
Intangible assets | (2,904 | ) |  | — |
Total deferred tax liabilities | (9,841 | ) |  | (3,418 | )
Net deferred tax assets | $ | 39,621 |  |  | $ | 32,829 |
Summary of Income Tax Contingencies | A reconciliation of the beginning and ending amount of the unrecognized income tax benefits during the tax periods ending December 31, 2015, 2014 and 2013 are as follows:
| December 31,
(in thousands) | 2015 |  | 2014 |  | 2013
Gross balance at January 1 | $ | 16,558 |  |  | $ | 9,898 |  |  | $ | 4,439 |
Gross increase related to current year tax positions | 19,948 |  | 6,401 |  | 5,280
Gross increase related to prior year tax positions | 108 |  | 259 |  | 179
Gross decrease related to prior year tax positions | (341) |  | — |  |  | 0
| $ | 36,273 |  |  | $ | 16,558 |  |  | $ | 9,898 |

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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 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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- Definition Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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