Rendering
Component: (Network and Table) |
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Network | 2311301 - Disclosure - Income Taxes (Tables) (http://www.aaon.com/role/IncomeTaxesTables) |
Table | (Implied) |
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis] | 0000824142 (http://www.sec.gov/CIK) |
Income Tax Disclosure [Abstract] | Period [Axis] |
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2016-01-01 - 2016-12-31 |
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Income Tax Disclosure [Abstract] | |
Provision for Income Taxes | The provision (benefit) for income taxes consists of the following:
| | | | | | | | | | | | | | Years Ending December 31, | | 2016 | | 2015 | | 2014 | | (in thousands) | Current | $ | 25,790 |
| | $ | 24,439 |
| | $ | 26,199 |
| Deferred | 825 |
| | 1,172 |
| | (2,111 | ) | Total | $ | 26,615 |
| | $ | 25,611 |
| | $ | 24,088 |
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Federal Statutory Income Tax Rate Reconciliation | The reconciliation of the federal statutory income tax rate to the effective income tax rate is as follows: | | | | | | | | | | | Years Ending December 31, | | 2016 | | 2015 | | 2014 | | | | | | | Federal statutory rate | 35 | % | | 35 | % | | 35 | % | State income taxes, net of federal benefit | 5 | % | | 5 | % | | 5 | % | Domestic manufacturing deduction | (3 | )% | | (3 | )% | | (4 | )% | Excess tax benefits | (3 | )% | | — | % | | — | % | Other | (1 | )% | | (1 | )% | | (1 | )% | | 33 | % | | 36 | % | | 35 | % |
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Deferred Tax Assets and Liabilities | The significant components of the Company’s deferred tax assets and liabilities are as follows: | | | | | | | | | | December 31, | | 2016 | | 2015 | | (in thousands) | Deferred income tax assets (liabilities): | | |
| Accounts receivable and inventory reserves | $ | 587 |
| | $ | 351 |
| Warranty accrual | 3,165 |
| | 3,405 |
| Other accruals | 1,715 |
| | 1,248 |
| Share-based compensation | 1,784 |
| | 1,099 |
| Donations | 463 |
| | 691 |
| Other, net | 738 |
| | 986 |
| Total deferred income tax assets | 8,452 |
| | 7,780 |
| Property & equipment | (17,983 | ) | | (16,486 | ) | Total deferred income tax liabilities | $ | (17,983 | ) | | $ | (16,486 | ) | Net deferred income tax liabilities | $ | (9,531 | ) | | $ | (8,706 | ) |
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