Travelzoo 2015 Annual Report Download - page 110

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67
Note 6: Income Taxes
The components of income (loss) before income tax expense are as follows (in thousands):
Year Ended December 31,
2015 2014 2013
U.S. $ 5,334 $ 14,363 $ (6,964)
Foreign 570 3,538 8,100
$ 5,904 $ 17,901 $ 1,136
Income tax expense consists of current and deferred components categorized by federal, state and foreign jurisdictions, as
shown below. The current provision is generally that portion of income tax expense that is currently payable to the taxing
authorities. The Company makes estimated payments of these amounts during the year. The deferred tax provision results from
changes in the Company’s deferred tax assets (future deductible amounts) and tax liabilities (future taxable amounts), which are
presented in the table below:
Current Deferred Total
(In thousands)
Year Ended December 31, 2015
Federal $(5,851) $ (238) $ (6,089)
State 337 51 388
Foreign 759 (18) 741
$(4,755) $ (205) $ (4,960)
Year Ended December 31, 2014
Federal $ 2,124 $ 294 $ 2,418
State 670 21 691
Foreign 1,725 5 1,730
$ 4,519 $ 320 $ 4,839
Year Ended December 31, 2013
Federal $ 5,504 $ 21 $ 5,525
State 1,023 (30) 993
Foreign 517 683 1,200
$ 7,044 $ 674 $ 7,718