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Table of Contents
8. INCOME TAXES
For the years ended December 31, the income (loss) before income taxes was as follows:
For the years ended December 31, the income tax expense consisted of the following:
The components of the net deferred tax liability at December 31 were as follows:
46
(In Thousands)
2006
2005
2004
United States
$
38,120
$
35,300
$
43,168
Foreign
2,549
(7
)
2,479
Total
$
40,669
$
35,293
$
45,647
(In Thousands) 2006
2005
2004
Current:
Federal
$
11,841
$
11,118
$
13,495
State
(2,156
)
849
861
Foreign
1,470
763
446
Total current
11,155
12,730
14,802
Deferred:
Federal
1,040
(229
)
884
State
(261
)
361
Foreign
(365
)
(569
)
(72
)
Total deferred
414
(437
)
860
Total income tax expense
$
11,569
$
12,293
$
15,662
(In Thousands) 2006
2005
Assets:
Accrued liabilities
$
5,785
$
6,808
Allowance for doubtful accounts
1,058
992
Inventory valuation
856
990
Uniform capitalization
350
441
Share
-
based compensation expense
784
—
Net operating loss carryforward
180
399
Other
722
—
9,735
9,630
Liabilities:
Prepaid advertising
(1,764
)
(984
)
Other prepaids
(772
)
(850
)
Basis difference on long
-
lived assets
(17,259
)
(16,990
)
Undistributed earnings of foreign subsidiaries
(693
)
(561
)
(20,488
)
(19,385
)
Net deferred tax liability
$
(10,753
)
$
(9,755
)