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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

INCOME TAXES [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense (benefit) consists of the following:

(In thousands)		2016			2015			2014
Current
Federal		$	16,259		$	17,598		$	10,257
State			2,326			2,907			1,611
			18,585			20,505			11,868
Deferred
Federal			(690	)		(2,476	)		4,323
State			(430	)		(543	)		477
			(1,120	)		(3,019	)		4,800
		$	17,465		$	17,486		$	16,668

Schedule of Effective Income Tax Rate Reconciliation

The differences between income tax expense in the accompanying Consolidated Financial Statements and the amount computed by applying the statutory Federal income tax rate are as follows:

(In thousands)	2016			2015			2014
Statutory rates applied to income before income taxes	$	16,037		$	15,846		$	8,840
State income taxes, net of Federal tax benefit		1,494			1,487			788
Net permanent differences		99			(11	)		42
Release of debit balance in accumulated other comprehensive income related to settled pension obligations		—			—			6,866
Change in state credits		—			—			110
Other		(165	)		164			22
	$	17,465		$	17,486		$	16,668

Schedule of Deferred Tax Assets and Liabilities

The amounts in the following table are grouped based on broad categories of items that generate the deferred tax assets and liabilities.

(In thousands)		2016			2015
Deferred tax assets:
Accounts receivable		$	808		$	772
Property and equipment			10,276			9,250
Leases			5,913			5,880
Accrued liabilities			12,217			10,916
Retirement benefits			513			579
Other			69			31
Total deferred tax assets			29,796			27,428
Deferred tax liabilities:
Inventory			10,082			9,285
Other			1,338			898
Total deferred tax liabilities			11,420			10,183
Net deferred tax assets		$	18,376		$	17,245

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- References

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

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