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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2017
INCOME TAXES [Abstract] |
Reconciliation of beginning and ending amount of liability for uncertain tax positions | A reconciliation of the beginning and ending amount of the liability for uncertain tax positions, including the portion included in income taxes payable, is as follows:
|  | 2017 |  |  | 2016 |  |  | 2015 |
Liability for uncertain tax positions - January 1 |  | $ | 27,828 |  |  | $ | 42,158 |  |  | $ | 39,970 |
Additions based on tax positions |  |  |  |  |  |  |  |  |  |  |  |
related to the current year |  |  | 2,168 |  |  |  | 2,483 |  |  |  | 3,241 |
Translation adjustment |  |  | 804 |  |  |  | (881 | ) |  |  | (844 | )
Settlement/expiration of statutes of limitations |  |  | (370 | ) |  |  | (15,932 | ) |  |  | (209 | )
Liability for uncertain tax positions - December 31 |  | $ | 30,430 |  |  | $ | 27,828 |  |  | $ | 42,158 |
Provision (benefit) for income taxes | The provision (benefit) for income taxes consists of the following:
|  | Years Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 16,055 |  |  | $ | (1,163 | ) |  | $ | 1,494 |
State |  |  | 115 |  |  |  | 18 |  |  |  | 70 |
Foreign |  |  | 5,685 |  |  |  | (10,172 | ) |  |  | 5,327 |
|  |  | 21,855 |  |  |  | (11,317 | ) |  |  | 6,891 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (1,312 | ) |  |  | (6,272 | ) |  |  | 1,019 |
State |  |  | (329 | ) |  |  | (464 | ) |  |  | (64 | )
Foreign |  |  | 1,326 |  |  |  | 335 |  |  |  | (1,311 | )
|  |  | (315 | ) |  |  | (6,401 | ) |  |  | (356 | )
|  | $ | 21,540 |  |  | $ | (17,718 | ) |  | $ | 6,535 |
Reconciliation of taxes on income computed at the federal statutory rate | A reconciliation of taxes on income computed at the U.S. federal statutory rate to amounts provided is as follows:
|  | Years Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
|  | $ |  |  |  | % |  |  | $ |  |  |  | % |  |  | $ |  |  |  | % |
Tax (benefit) provision computed at the |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
federal statutory rate |  | $ | 3,375 |  |  |  | 35 | % |  | $ | (28,893 | ) |  |  | 35 | % |  | $ | 9,006 |  |  |  | 35 | %
Increase (decrease) in taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Different tax rates applicable to foreign operations |  |  | (2,531 | ) |  |  | (26 | %) |  |  | (4,427 | ) |  |  | 5 | % |  |  | (5,353 | ) |  |  | (21 | %)
Impairment of goodwill & intangibles |  |  | - |  |  |  | 0 | % |  |  | 30,445 |  |  |  | (37 | %) |  |  | - |  |  |  | 0 | %
Increase in (reversal of) liability for uncertain |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
tax positions - net |  |  | 1,082 |  |  |  | 11 | % |  |  | (13,974 | ) |  |  | 17 | % |  |  | 3,032 |  |  |  | 12 | %
Impact of U.S. Tax Reform |  |  | 19,171 |  |  |  | 199 | % |  |  | - |  |  |  | 0 | % |  |  | - |  |  |  | 0 | %
Utilization of research and experimentation, solar and foreign |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
tax credits |  |  | (272 | ) |  |  | (3 | %) |  |  | (349 | ) |  |  | 0 | % |  |  | (349 | ) |  |  | (1 | %)
State taxes, net of federal benefit |  |  | (261 | ) |  |  | (3 | %) |  |  | (420 | ) |  |  | 1 | % |  |  | 56 |  |  |  | 0 | %
Foreign tax on gain, net of federal benefit |  |  | 1,223 |  |  |  | 13 | % |  |  | - |  |  |  | 0 | % |  |  | - |  |  |  | 0 | %
Current year (reversal) increase in U.S. valuation allowances |  |  | - |  |  |  | 0 | % |  |  | - |  |  |  | 0 | % |  |  | (343 | ) |  |  | (1 | %)
Federal tax on profit of foreign disregarded entities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
net of deferred tax |  |  | - |  |  |  | 0 | % |  |  | - |  |  |  | 0 | % |  |  | 872 |  |  |  | 3 | %
Other, including qualified production activity credits, SERP/COLI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
income, under/(over) accruals, unrealized foreign exchange gains |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
and amortization of purchase accounting intangibles |  |  | (247 | ) |  |  | (3 | %) |  |  | (100 | ) |  |  | 0 | % |  |  | (386 | ) |  |  | (2 | %)
Tax (benefit) provision computed at the Company's |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
effective tax rate |  | $ | 21,540 |  |  |  | 223 | % |  | $ | (17,718 | ) |  |  | 21 | % |  | $ | 6,535 |  |  |  | 25 | %
Components of deferred income tax assets | Components of deferred income tax assets are as follows:
|  | December 31, |
|  | 2017 |  |  | 2016 |
|  | Tax Effect |  |  | Tax Effect |
Deferred tax assets: |  |  |  |  |  |
State tax credits |  | $ | 1,033 |  |  | $ | 902 |
Unfunded pension liability |  |  | 1,139 |  |  |  | 1,398 |
Reserves and accruals |  |  | 2,828 |  |  |  | 4,335 |
Federal, state and foreign net operating loss |  |  |  |  |
and credit carryforwards |  |  | 10,524 |  |  |  | 12,891 |
Depreciation |  |  | 917 |  |  |  | 1,057 |
Amortization |  |  | - |  |  |  | - |
Other accruals |  |  | 4,915 |  |  |  | 8,278 |
Total deferred tax assets |  |  | 21,356 |  |  |  | 28,861 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Reserves and accruals |  |  | - |  |  |  | 64 |
Depreciation |  |  | 989 |  |  |  | 3,028 |
Amortization |  |  | 8,490 |  |  |  | 15,361 |
Other accruals |  |  | 946 |  |  |  | 973 |
Total deferred tax liabilities |  |  | 10,425 |  |  |  | 19,426 |
Valuation allowance |  |  | 8,343 |  |  |  | 7,485 |
Net deferred tax assets/(liabilities) |  | $ | 2,588 |  |  | $ | 1,950 |

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