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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of components of income before income taxes

The components of income before income taxes consist of the following:

		Year ended December 31,
		2018				2017				2016
U.S. operations		$	15,162			$	10,761			$	12,441
Foreign operations			80,697				67,304				54,633
		$	95,859			$	78,065			$	67,074

Schedule of provision for current and deferred income tax expense (benefit)

The provision for current and deferred income tax expense (benefit) consists of the following:

		Year ended December 31,
		2018				2017				2016
Current:
Federal		$	1,629			$	4,050			$	3,792
State and local			497				302				309
Foreign			24,175				19,051				21,099
			26,301				23,403				25,200
Deferred:
Federal			113				(554	)			113
State and local			—				(55	)			9
Foreign			(270	)			18				(1,496	)
			(157	)			(591	)			(1,374	)
Total income tax expense		$	26,144			$	22,812			$	23,826

Schedule of significant portions of the deferred tax assets and deferred tax liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:

		December 31,
		2018				2017
Net deferred tax assets:
Foreign net operating loss carry-forwards		$	468			$	520
Inventory and accounts receivable			658				1,557
Profit sharing			4,561				4,212
Stock option compensation			626				502
Effect of inventory profit elimination			3,267				3,166
Other			(23	)			222
Total gross deferred tax assets, net			9,557				10,179
Valuation allowance			(258	)			(520	)
Net deferred tax assets			9,299				9,659
Deferred tax liabilities (long-term):
Trademarks and licenses			(3,538	)			(3,821	)
Net deferred tax assets		$	5,761			$	5,838

Schedule of differences between the united states federal statutory income tax rate and the effective income tax rate

Differences between the United States Federal statutory income tax rate and the effective income tax rate were as follows:

		2018				2017				2016
Statutory rates			21.0	%			34.0	%			34.0	%
State and local taxes, net of Federal benefit			0.4				0.2				0.3
Benefit of Foreign Derived Intangible Income			(0.6	)			—				—
Deferred tax effect of statutory tax rate changes			—				1.4				—
Foreign income tax recovery			—				(4.6	)			—
Effect of foreign taxes greater than (less than) U.S. statutory rates			7.3				(1.0	)			1.5
Other			(0.8	)			(0.8	)			(0.3	)
Effective rates			27.3	%			29.2	%			35.5	%

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
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