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Taxes On Income (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Expense (Benefit), Continuing Operations [Abstract]

Schedule Of Income Before Taxes On Income

	Year ended December 31,
	2013				2012				2011
Income before taxes on income:
Domestic	$	156,328			$	159,330			$	95,226
Foreign	46,691				17,712				8,778
	$	203,019			$	177,042			$	104,004

Schedule Of Taxes On Income

	Year ended December 31,
	2013				2012				2011
Current taxes:
Domestic	$	30,775			$	12,957			$	13,896
Foreign	16,137				6,454				1,328
	46,912				19,411				15,224
Adjustment for previous years:
Domestic	(1,823		)		(4,898		)		2,009
Foreign	(123		)		(633		)		(2,308		)
	(1,946		)		(5,531		)		(299		)
Deferred income taxes:
Domestic	(14,664		)		6,686				(2,861		)
Foreign	(4,989		)		(3,467		)		1,560
	(19,653		)		3,219				(1,301		)
Total taxes on income from continuing operations	$	25,313			$	17,099			$	13,624
Total:
Domestic	$	14,288			$	14,745			$	13,044
Foreign	11,025				2,354				580
Total taxes on income from continuing operations	$	25,313			$	17,099			$	13,624

Schedule Of Uncertain Tax Positions

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2013				2012
Balance at the beginning of the year	$	52,598			$	53,183
Additions related to interest and currency translation	6,303				3,695
Additions based on tax positions taken during a prior period	18,729				5,925
Reductions related to tax positions taken during a prior period	(12,070		)		(8,660		)
Reductions related to settlement of tax matters	(14,691		)		(117		)
Additions based on tax positions taken during the current period	12,878				5,998
Reductions related to a lapse of applicable statute of limitation	(895		)		(7,426		)
Balance at the end of the year	$	62,852			$	52,598

Schedule Of Deferred Income Taxes

Significant components of net deferred tax assets and liabilities are based on separate tax jurisdictions as follows:

					Deferred (1)  Tax Asset (Liability)
	Total				Current				Non-current
As of December 31, 2013
Deferred tax assets:
Reserves and allowances	$	36,191			$	14,384			$	21,807
Inventory allowances	5,751				5,751				—
Property, plant and equipment	5,329				102				5,227
Other assets	31,039				12,601				18,438
Net operating loss carry-forwards	22,816				3,311				19,505
	101,126				36,149				64,977
Valuation allowance	(9,358		)		(414		)		(8,944		)
Net deferred tax assets	91,768				35,735				56,033
Deferred tax liabilities:
Intangible assets	(26,958		)		—				(26,958		)
Property, plant and equipment	(21,353		)		(78		)		(21,275		)
Reserves and allowances	(1,265		)		(200		)		(1,065		)
	(49,576		)		(278		)		(49,298		)
Net deferred tax assets	$	42,192			$	35,457			$	6,735
As of December 31, 2012
Deferred tax assets:
Reserves and allowances	$	38,743			$	10,451			$	28,292
Inventory allowances	6,345				6,345				—
Property, plant and equipment	7,414				1,317				6,097
Other	17,819				6,899				10,920
Net operating loss carry-forwards	22,282				7,399				14,883
	92,603				32,411				60,192
Valuation allowance	(4,372		)		(610		)		(3,762		)
Net deferred tax assets	88,231				31,801				56,430
Deferred tax liabilities:
Intangible assets	(33,064		)		—				(33,064		)
Property, plant and equipment	(18,882		)		(18		)		(18,864		)
Reserves and allowances	(4,134		)		(461		)		(3,673		)
	(56,080		)		(479		)		(55,601		)
Net deferred tax assets	$	32,151			$	31,322			$	829

Schedule Of Deferred Taxes As Reflected In The Balance Sheet

The deferred taxes, net are reflected in the balance sheet as follows:

	December 31,
	2013				2012
Current deferred income tax assets (Note 4)	$	35,735			$	31,801
Current deferred income tax liabilities (Note 13)	$	278			$	479
Non-current deferred income tax assets	$	35,695			$	31,465
Non-current deferred income tax liabilities	$	28,969			$	30,639

Schedule Of Effective Income Tax Rate Reconciliation

Reconciliation of the actual tax expense as reported in the statements of operations to the amount computed by applying the Israeli statutory tax rate is as follows:

	Year ended December 31,
	2013				2012				2011
Income before taxes as reported in the consolidated statements of income	$	203,019			$	177,042			$	104,004
Statutory tax rate	25		%		25		%		24		%
Theoretical tax expense	$	50,755			$	44,261			$	24,961
Tax benefit arising from reduced rate as an “Approved and Privileged Enterprise” and other tax benefits (*)	(27,151		)		(26,098		)		(11,451		)
Tax adjustment in respect of different tax rates for foreign subsidiaries	1,716				5,469				2,721
Changes in carry-forward losses and valuation allowances	4,986				1,643				(125		)
Increase in taxes resulting from non-deductible expenses	112				1,426				1,105
Difference in basis of measurement for financial reporting and tax return purposes	(431		)		(3,240		)		(2,375		)
Taxes in respect of prior years	(1,946		)		(5,531		)		(299		)
Other differences, net (**)	(2,728		)		(831		)		(913		)
Actual tax expenses	$	25,313			$	17,099			$	13,624
Effective tax rate	12.47		%		9.66		%		13.10		%
(*) Net earnings per share – amounts of the benefit resulting from the Approved and Privileged Enterprises
Basic	$	0.64			$	0.62			$	0.27
Diluted	$	0.64			$	0.62			$	0.27

(**) "Other differences, net" in 2013 includes a benefit of $2,300 resulting from tax rate changes in Israel and other jurisdictions.

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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.

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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 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.

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