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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Taxes [Abstract] |
Provision for Income Taxes | The provision for income taxes for continuing operations was as follows:
(In thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Currently payable: |  |  |  |  |  |  |  |  |
Federal (1) |  | $ | 15,513 |  |  | $ | 12,145 |  |  | $ | 20,794 |
State |  |  | 642 |  |  |  | 2,631 |  |  |  | 2,936 |
Foreign |  |  | 25,254 |  |  |  | 19,168 |  |  |  | 23,873 |
|  |  | 41,409 |  |  |  | 33,944 |  |  |  | 47,603 |
Deferred (benefit) expense: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 18,458 |  |  |  | 7,630 |  |  |  | 5,779 |
State |  |  | 215 |  |  |  | 1,656 |  |  |  | (772 | )
Foreign |  |  | (1,259 | ) |  |  | 1,142 |  |  |  | (10,461 | )
|  |  | 17,414 |  |  |  | 10,428 |  |  |  | (5,454 | )
Income taxes |  | $ | 58,823 |  |  | $ | 44,372 |  |  | $ | 42,149 |
| (1) | This amount includes $7.4 million related to the one-time transition tax on earnings of foreign subsidiaries enacted by the 2017 Tax Legislation (See discussion below). Approximately $5.1 million of this amount is reported in Other liabilities on the Consolidated Balance Sheet at December 31, 2017.
Tax Effects of Temporary Differences - Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities consisted of the following:
(in thousands) |  | 2017 |  |  | 2016 |
Deferred tax assets: |  |  |  |  |  |
Benefit plans |  | $ | 8,440 |  |  | $ | 11,040 |
Liabilities and reserves |  |  | 11,141 |  |  |  | 15,733 |
Operating loss and credit carryovers |  |  | 40,164 |  |  |  | 49,778 |
Other |  |  | 1,007 |  |  |  | 3,181 |
Gross deferred tax assets |  |  | 60,752 |  |  |  | 79,732 |
Valuation allowance |  |  | (38,366 | ) |  |  | (35,426 | )
Deferred tax assets |  |  | 22,386 |  |  |  | 44,306 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Property, plant and equipment |  |  | (12,458 | ) |  |  | (1,186 | )
Other assets |  |  | - |  |  |  | (353 | )
Goodwill |  |  | (20,345 | ) |  |  | (27,863 | )
Other |  |  | (422 | ) |  |  | (12,434 | )
Deferred tax liabilities |  |  | (33,225 | ) |  |  | (41,836 | )
Net deferred tax (liabilities) assets |  | $ | (10,839 | ) |  | $ | 2,470 |
Effective Income Tax Rate Reconciliation | The effective tax rate for continuing operations differed from the statutory federal income tax rate of 35% as described below:
|  | 2017 |  |  | 2016 |  |  | 2015 |
Taxes at statutory rate |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | %
State income taxes, net of federal income tax benefit |  |  | 0.3 |  |  |  | 1.4 |  |  |  | 1.7 |
Tax credits |  |  | (1.1 | ) |  |  | (1.8 | ) |  |  | (0.7 | )
Taxes on foreign earnings |  |  | 0.2 |  |  |  | (4.4 | ) |  |  | (0.8 | )
Resolution of prior years’ tax matters |  |  | 0.1 |  |  |  | - |  |  |  | (0.3 | )
U.S. manufacturing deduction |  |  | (1.4 | ) |  |  | (2.0 | ) |  |  | (1.9 | )
Valuation allowance adjustments |  |  | - |  |  |  | (0.3 | ) |  |  | (5.0 | )
2017 Tax Legislation |  |  | 12.4 |  |  |  | - |  |  |  | - |
Loss on foreign branch remittances |  |  | (5.2 | ) |  |  | - |  |  |  | - |
Other, net |  |  | (0.7 | ) |  |  | (1.4 | ) |  |  | 0.2 |
Effective tax rate |  |  | 39.6 | % |  |  | 26.5 | % |  |  | 28.2 | %
Earnings Before Income Taxes | Earnings from continuing operations before income taxes were as follows:
(In thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
United States |  | $ | 88,479 |  |  | $ | 96,963 |  |  | $ | 87,749 |
Foreign |  |  | 59,944 |  |  |  | 70,322 |  |  |  | 61,647 |
Total |  | $ | 148,423 |  |  | $ | 167,285 |  |  | $ | 149,396 |
Reconciliation of Change in Liability for Unrecognized Tax Benefits | A reconciliation of the change in the liability for unrecognized tax benefits for 2017 and 2016 is as follows:
(in thousands) |  | 2017 |  |  | 2016 |
Balance at beginning of year |  | $ | 4,947 |  |  | $ | 4,963 |
Increases for tax positions taken in the current year |  |  | 871 |  |  |  | 570 |
Increases for tax positions taken in prior years |  |  | 553 |  |  |  | 1,204 |
Decreases related to settlements with tax authorities |  |  | (76 | ) |  |  | (1,172 | )
Decreases as a result of lapse of the applicable statutes of limitations |  |  | (607 | ) |  |  | (426 | )
Foreign currency exchange rate changes |  |  | 588 |  |  |  | (192 | )
Balance at the end of year |  | $ | 6,276 |  |  | $ | 4,947 |

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