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Component: (Network and Table)
Network
136 - Disclosure - Income Taxes (Tables)
(http://www.aepinc.com/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlockTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0000785787 (http://www.sec.gov/CIK)
Income Tax Disclosure [Abstract]Period [Axis]
2015-11-01 - 2016-10-31
Income Tax Disclosure [Abstract]
 
U.S. and Foreign Components of Income (Loss) from Continuing Operations

he U.S. and foreign components of income (loss) before (provision) benefit for income taxes are as follows:

 

     For the Years Ended
October 31,		  
     2016      2015      2014  
     (in thousands)  

U.S.

    $ 44,243       $ 43,171       $ (12,403 ) 

Foreign

      2,279         1,074         2,963   
  

 

 

     

 

 

     

 

 

  

Total

    $ 46,522       $ 44,245       $ (9,440 ) 
  

 

 

     

 

 

     

 

 

  

  
(Provision) benefit for Income Taxes

The (provision) benefit for income taxes is summarized as follows:

 

     For the Years Ended
October 31,		  
     2016      2015      2014  
     (in thousands)  

Current:

         

Federal

    $ (12,799 )     $ (6,646 )     $ (108 ) 

State

      (2,339 )       (2,816 )       206   

Foreign

      (723 )       (376 )       (952 ) 
  

 

 

     

 

 

     

 

 

  
     (15,861 )       (9,838 )       (854 ) 
  

 

 

     

 

 

     

 

 

  

Deferred:

         

Federal

      (2,101 )       (6,102 )       4,412   

State

      301         589         475   

Foreign

      (59 )       (57 )       (99 ) 
  

 

 

     

 

 

     

 

 

  
     (1,859 )       (5,570 )       4,788   
  

 

 

     

 

 

     

 

 

  

Total (provision) benefit for income taxes

    $ (17,720 )     $ (15,408 )     $ 3,934   
  

 

 

     

 

 

     

 

 

  

  
Deferred Tax Asset Liabilities

The tax effects of significant temporary differences that comprise the deferred tax assets (liabilities) at October 31, 2016 and 2015 are as follows:

 

     October 31,  
     2016      2015  
     (in thousands)  

Deferred income tax assets:

      

Allowance for doubtful accounts

    $ 2,709       $ 1,937   

Inventories

      909         924   

Alternative minimum tax credits carryforwards

      —         3,264   

State net operating loss carryforwards

      62         716   

Stock based compensation

      5,324         4,810   

Capital loss carryforwards

      23         30   

Foreign tax credits carryforwards

      7,112         7,422   

Other

      2,696         1,973   
  

 

 

     

 

 

  

Total gross deferred tax assets

      18,835         21,076   

Valuation allowance

      (23 )       (30 ) 
  

 

 

     

 

 

  

Total net deferred tax asset

    $ 18,812       $ 21,046   

Deferred tax liabilities:

      

Depreciation

    $ (23,319 )     $ (23,856 ) 

Deferred tax liability on undistributed earnings of foreign subsidiary

      (7,901 )       (7,250 ) 

Deferred gain on redemption of senior notes

      (761 )       (1,187 ) 

Basis differences related to acquisitions

      (5,275 )       (5,275 ) 

Other

      (1,269 )       (1,622 ) 
  

 

 

     

 

 

  

Total gross deferred tax liabilities

    $ (38,525 )     $ (39,190 ) 
  

 

 

     

 

 

  

Total net deferred tax liabilities

    $ (19,713 )     $ (18,144 ) 
  

 

 

     

 

 

  

  
Net Loss Carryforwards and Foreign Tax Credits Before Valuation Allowances

Net operating loss carryforwards, capital loss carryforwards and foreign tax credits, before valuation allowances, at October 31, 2016 expire as follows:

 

     Related Tax
Amount		      Deferred Tax
Asset		      Expiration Date
     (in thousands)       

Loss carryforwards:

         

State net operating loss

    $ 96       $ 62       Fiscal 2027

Capital loss carryforwards:

         

Canada

    $ 179       $ 23       Indefinite

Tax credit carryforwards:

         

Foreign tax credits

    $ 7,112       $ 7,112       Fiscal 2025 - 2026

 

  
Reconciliation of (Provision) Benefit for Income Taxes on Income (Loss) from Continuing Operations

A reconciliation of the (provision) benefit for income taxes on income (loss) before (provision) benefit for income taxes to that which would be computed at the statutory rate of 35% for each of the fiscal years 2016, 2015 and 2014, is as follows:

 

     For the Years Ended October 31,  
     2016      2015      2014  
     (in thousands)  

Provision at statutory rate

    $ (16,283 )     $ (15,486 )     $ 3,304   

State tax provision, net of federal tax benefit

      (1,324 )       (1,448 )       443   

Differential in the U.S. and Canadian statutory rate

      211         100         275   

Foreign taxes paid and accrued

      (147 )       (153 )       (260 ) 

Net permanent adjustments

      253         1,678         —   

Other, net

      (430 )       (99 )       172   
  

 

 

     

 

 

     

 

 

  

(Provision) benefit for income taxes

    $ (17,720 )     $ (15,408 )     $ 3,934