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Income taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of the Company's income before income taxes for the years ended December 31, 2016, 2015 and 2014 are as follows (in thousands):

	2016				2015				2014
U.S.	$	(155,058	)		$	(114,862	)		$	127,270
Non-U.S.	17,059				(19,461		)		115,252
Income (loss) before income taxes	$	(137,999	)		$	(134,323	)		$	242,522

Schedule of Components of Income Tax Expense (Benefit)

The Company’s provision (benefit) for income taxes from continuing operations for the years ended December 31, 2016, 2015 and 2014 are as follows (in thousands):

	2016				2015				2014
Current
U.S. Federal and state	$	(38,589	)		$	43			$	47,100
Non-U.S.	6,956				8,264				24,315
Total current	(31,633		)		8,307				71,415
Deferred
U.S. Federal and state	(18,290		)		(19,071		)		(2,080		)
Non-U.S.	(6,128		)		(4,175		)		(1,190		)
Total deferred	(24,418		)		(23,246		)		(3,270		)
Provision for income tax expense (benefit)	$	(56,051	)		$	(14,939	)		$	68,145

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the actual provision for income taxes from continuing operations and that computed by applying the U.S. statutory rate to income before income taxes and noncontrolling interests are outlined below (in thousands):

	2016						2015						2014
Income tax expense (benefit) at the statutory rate	$	(48,300	)	35.0	%		$	(47,013	)	35.0	%		$	84,882		35.0	%
State taxes, net of federal tax benefit	(1,425		)	1.0	%		(1,157		)	0.9	%		4,132			1.7	%
Non-U.S. operations	(5,791		)	4.2	%		6,300			(4.7	)%		(15,060		)	(6.2	)%
Domestic incentives	(170		)	0.1	%		(250		)	0.2	%		(4,412		)	(1.8	)%
Prior year federal, non-U.S. and state tax	(777		)	0.6	%		(518		)	0.4	%		(1,692		)	(0.7	)%
Nondeductible expenses	345			(0.2	)%		279			(0.2	)%		663			0.3	%
Goodwill impairment	—			—	%		27,210			(20.3	)%		—			—	%
Other	67			(0.1	)%		210			(0.2	)%		(368		)	(0.2	)%
Provision for income tax expense (benefit)	$	(56,051	)	40.6	%		$	(14,939	)	11.1	%		$	68,145		28.1	%

Schedule of Deferred Tax Assets and Liabilities

The primary components of deferred taxes include (in thousands):

	2016				2015
Deferred tax assets
Reserves and accruals	$	6,603			$	7,174
Inventory	24,677				29,154
Stock awards	10,984				9,350
Other	982				544
Net operating loss and other tax credit carryforwards	30,317				1,673
Total deferred tax assets	73,563				47,895
Deferred tax liabilities
Property and equipment	(13,593		)		(16,925		)
Goodwill and intangible assets	(73,074		)		(68,635		)
Investment in unconsolidated subsidiary	(10,000		)		(10,764		)
Unremitted non-U.S. earnings	(740		)		(740		)
Prepaid expenses and other	(1,490		)		(1,151		)
Total deferred tax liabilities	(98,897		)		(98,215		)
Net deferred tax liabilities	$	(25,334	)		$	(50,320	)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of uncertain tax positions is as follows (in thousands):

Balance at January 1, 2016		$	8,410
Additional based on tax positions related to prior years		1,785
Additional based on tax positions related to current year		6,103
Reduction based on tax positions related to prior years		—
Lapse of statute of limitations		(2,078		)
Balance at December 31, 2016		14,220
Deferred tax benefits on uncertain tax position related to U.S. and non-U.S. income tax		—
Net balance at December 31, 2016		$	14,220

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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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 the change in unrecognized tax benefits.

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