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A common stock on every April 30 , July 31 , October 31  or January 31  (the “Purchase Date”). The price of the Class A com- mon stock purchased under the Purchase Plan will be equal to 85 % of the lower of the fair market value of the Class A common stock on the commencement date of each three-month offering period or Purchase Date. During 2004 , approxi- mately 22 , 000  shares were purchased at prices ranging from $ 13 . 64  to $ 20 . 83  per share. At December 31 , 2004 , approxi- mately 110 , 000  shares were available under the Purchase Plan for future issuance. 

## 12 . INCOME TAXES 

Consolidated income before provision for income taxes consists of the following for the years ended December 31 , 2002 , 2003  and 2004  (U.S. dollars in thousands): 

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The provision for current and deferred taxes for the years ended December 31 , 2002 , 2003  and 2004  consists of the following (U.S. dollars in thousands): 

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The Company’s foreign taxes paid are high relative to foreign operating income and the Company’s U.S. taxes paid are low relative to U.S. operating income due largely to the flow of funds among the Company’s Subsidiaries around the world. As payments for services, management fees, license arrangements and royalties are made from the Company’s foreign af- filiates to its U.S. corporate headquarters, these payments often incur withholding and other forms of tax that are gener- ally creditable for U.S. tax purposes. Therefore, these payments lead to increased foreign effective tax rates and lower U.S. effective tax rates. Variations (or shifts) occur in the Company’s foreign and U.S. effective tax rates from year to year depending on several factors including the impact of global transfer prices and the timing and level of remittances from foreign affiliates. 

