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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of income before income taxes

		Year ended December 31,
		2020				2019				2018
U.S. operations		$	9,577			$	23,384			$	15,162
Foreign operations			59,772				81,762				80,697
		$	69,349			$	105,146			$	95,859

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

		Year ended December 31,
		2020				2019				2018
Current:
Federal		$	1,685			$	3,280			$	1,629
State and local			90				713				497
Foreign			17,024				27,412				24,175
			18,799				31,405				26,301
Deferred:
Federal			(215	)			(3	)			113
State and local			44				(22	)			—
Foreign			753				(2,304	)			(270	)
			582				(2,329	)			(157	)
Total income tax expense		$	19,381			$	29,076			$	26,144

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

		December 31,
		2020				2019
Net deferred tax assets:
Foreign net operating loss carry-forwards		$	360			$	362
Inventory and accounts receivable			1,928				1,231
Profit sharing			2,936				4,812
Stock option compensation			718				588
Effect of inventory profit elimination			4,443				4,630
Other			910				214
Total gross deferred tax assets, net			11,295				11,837
Valuation allowance			(360	)			(361	)
Net deferred tax assets			10,935				11,476
Deferred tax liabilities (long-term):
Trademarks and licenses			(2,894	)			(3,472	)
Net deferred tax assets		$	8,041			$	8,004

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

		Year ended December 31,
		2020				2019				2018
Statutory rates			21.0	%			21.0	%			21.0	%
State and local taxes, net of Federal benefit			0.2				0.6				0.4
Benefit of Foreign Derived Intangible Income			(0.4	)			(0.9	)			(0.6	)
Effect of foreign taxes greater than
U.S. statutory rates			7.5				7.5				7.3
Other			(0.4	)			(0.6	)			(0.8	)
Effective rates			27.9	%			27.6	%			27.3	%

X

- 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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&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://fasb.org/us-gaap/role/ref/legacyRef
-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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- 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://fasb.org/us-gaap/role/ref/legacyRef
-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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- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

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