Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

v2.4.0.8
INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Significant Components of the Provision for Income Tax Expense (Benefit)
Significant components of the provision for income tax expense (benefit) are as follows:
 
 
Year Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Current—federal
 
$
1,238

 
$
2,235

 
$
(23,340
)
Current—foreign
 
41,664

 
34,541

 
38,328

Current—state
 
3,864

 
3,917

 
4,391

Total current
 
46,766

 
40,693

 
19,379

Deferred—federal
 
(852
)
 
(386
)
 
(29,153
)
Deferred—foreign
 
(14,606
)
 
(14,591
)
 
(13,463
)
Deferred—state
 
(430
)
 
4,020

 
(2,987
)
Total deferred
 
(15,888
)
 
(10,957
)
 
(45,603
)
Income tax expense (benefit)
 
$
30,878

 
$
29,736

 
$
(26,224
)
 
 
 
 
 
 
 
Significant Components of Deferred Tax Liabilities and Assets
Significant components of the Company’s deferred tax liabilities and assets are as follows:
 
 
December 31,
 
 
2013
 
2012
 
 
(in thousands)
Deferred tax liabilities:
 
 
 
 
          Intangible assets
 
$
234,454

 
$
281,071

          Prepaid expenses
 
7,089

 
4,575

          Long-term debt
 
51,166

 
41,949

Total deferred tax liabilities
 
292,709

 
327,595

 
 
 
 
 
Deferred tax assets:
 
 
 
 
          Intangible and fixed assets
 
8,991

 
27,723

          Accrued expenses
 
59,944

 
53,125

          Net operating loss carryforwards
 
393,628

 
379,111

          Foreign tax credit carryforwards
 
42,323

 
38,710

          Equity compensation
 
24,930

 
47,542

          Investments in nonconsolidated
 
 
 
 
              affiliates
 

 
5,267

          Other
 
14,597

 
14,114

Total gross deferred tax assets
 
544,413

 
565,592

 
 
 
 
 
          Valuation allowance
 
435,578

 
425,404

          Total deferred tax assets
 
108,835

 
140,188

          Net deferred tax liabilities
 
$
(183,874
)
 
$
(187,407
)
 
 
 
 
 
Reconciliation of Income Taxes From Continuing Operations
The reconciliation of income tax computed at the United States federal statutory tax rates to income tax expense (benefit) is:
 
 
Year Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Income tax benefit at United States statutory rates
 
$
(1,798
)
 
$
(46,256
)
 
$
(33,820
)
State income taxes, net of federal tax benefits
 
3,864

 
3,917

 
4,391

Differences between foreign and United States statutory rates
 
(21,182
)
 
(25,637
)
 
(25,158
)
Non-United States income inclusions and exclusions
 
18,525

 
9,901

 
11,288

Nondeductible items
 
7,570

 
9,005

 
9,252

Tax contingencies
 
697

 
4,316

 
2,632

Change in valuation allowance
 
15,912

 
79,214

 
7,412

Other, net
 
7,290

 
(4,724
)
 
(2,221
)
 
 
$
30,878

 
$
29,736

 
$
(26,224
)
 
 
 
 
 
 
 
Summary of Activity Related to Unrecognized Tax Benefits
The following table summarizes the activity related to the Company’s unrecognized tax benefits for the years ended December 31, 2013, 2012 and 2011:
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Balance at January 1
 
$
15,974

 
$
13,357

 
$
10,917

Additions:
 
 
 
 
 
 
          Increase in tax for current year positions
 
396

 
2,978

 
1,991

          Increase in tax for prior year positions
 
800

 
652

 

          Decrease in tax for prior year positions
 
(75
)
 

 
(86
)
          Interest and penalties for prior years
 
148

 
686

 
727

Reductions:
 
 
 
 
 
 
          Expiration of applicable statue of limitations
 
(572
)
 

 

          Settlements for prior year positions
 
(3,212
)
 
(1,716
)
 

Foreign exchange
 
(599
)
 
247

 
(192
)
Reclassification to other liabilities
 

 
(230
)
 

Balance at December 31
 
$
12,860

 
$
15,974

 
$
13,357