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 Taxes  
Schedule of deferred tax attributes resulting from differences between financial and accounting amounts and tax basis of assets and liabilities

Deferred tax attributes resulting from differences between financial and accounting amounts and tax basis of assets and liabilities at December 31, 2013 and 2012 are as follows: 

 

 

 

2013

 

2012

 

Current assets

 

 

 

 

 

Accruals and reserves

 

$

218

 

$

280

 

Net current deferred tax assets

 

$

218

 

$

280

 

 

 

 

2013

 

2012

 

Non-current assets

 

 

 

 

 

Accruals and reserves

 

$

204

 

$

224

 

Depreciation and amortization

 

12

 

12

 

Net non-current deferred tax assets

 

$

216

 

$

236

 

Total deferred tax assets

 

$

434

 

$

516

 

Schedule of provision for income taxes

 

 

 

 

Year ended December 31,

 

 

 

2013

 

2012

 

2011

 

Current:

 

 

 

 

 

 

 

Federal

 

$

2,873

 

$

2,799

 

$

2,452

 

State

 

15

 

536

 

460

 

Foreign

 

49

 

201

 

264

 

 

 

2,937

 

3,536

 

3,176

 

Deferred:

 

 

 

 

 

 

 

Federal

 

13

 

54

 

172

 

State

 

69

 

10

 

100

 

 

 

82

 

64

 

272

 

 

 

$

3,019

 

$

3,600

 

$

3,448

 

Effective Tax Rate

 

32.1

%

39.6

%

38.4

%

Schedule of difference between total tax expense and the amount computed by applying the U.S. statutory federal income tax rate to income before income taxes

 

 

 

 

Year ended December 31,

 

 

 

2013

 

2012

 

2011

 

 

 

 

 

 

 

 

 

Statutory rate applied to pretax income

 

$

3,200

 

$

3,090

 

$

3,056

 

State income taxes, net of federal income tax benefit

 

91

 

334

 

325

 

Foreign income taxes under U.S. statutory rate

 

(20

)

(21

)

(4

)

Other items, including the impact of the change in NJ state tax rate

 

(252

)

197

 

71

 

Income tax expense

 

$

3,019

 

$

3,600

 

$

3,448

 

Schedule of components of income before income taxes

 

 

 

 

Year ended December 31

 

 

 

2013

 

2012

 

2011

 

United States

 

$

8,746

 

$

8,451

 

$

8,229

 

Canada

 

666

 

638

 

758

 

 

 

$

9,412

 

$

9,089

 

$

8,987