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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2013
Income Taxes |
Schedule of income tax provision (benefit) | The Company’s income tax provision (benefit) for the years ended December 31, 2013, 2012 and 2011, consists of the following (in thousands):
|  | Years Ended December 31, |
|  | 2013 |  | 2012 |  | 2011 |
Current: |  |  |  |  |  |  |
Federal |  | $ | 4,353 |  | $ | 4,301 |  | $ | 3,752 |
State |  | 824 |  | 768 |  | 701 |
|  | 5,177 |  | 5,069 |  | 4,453 |
Deferred: |  |  |  |  |  |  |
Federal |  | 641 |  | 699 |  | 396 |
State |  | 99 |  | (89 | ) | 56 |
|  | 740 |  | 610 |  | 452 |
Total income tax provision |  | $ | 5,917 |  | $ | 5,679 |  | $ | 4,905 |
Schedule of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities | The approximate tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities are as follows (in thousands):
|  | 2013 |  | 2012 |
Current deferred tax assets: |  |  |  |  |
Reserves |  | $ | 495 |  | $ | 383 |
Inventory capitalization |  | 244 |  | 205 |
Compensation programs |  | 204 |  | 245 |
Retirement liability |  | 33 |  | 55 |
Equity-based compensation |  | 246 |  | 228 |
Total current deferred tax assets |  | $ | 1,222 |  | $ | 1,116 |
Long-term deferred tax assets / (liabilities): |  |  |  |  |
Excess of book over tax basis of fixed assets |  | $ | (2,413 | ) | $ | (1,688 | )
Goodwill |  | (827 | ) | (751 | )
Intangible assets |  | — |  | (69 | )
Total long-term deferred tax liabilities |  | (3,240 | ) | (2,508 | )
Net operating loss carryforwards |  | 342 |  | 443 |
Deferred rent |  | 46 |  | 67 |
Intangible assets |  | 5 |  | — |
Compensation programs |  | 411 |  | 408 |
Total long-term deferred tax assets |  | 804 |  | 918 |
Net long-term deferred tax liabilities |  | $ | (2,436 | ) | $ | (1,590 | )
Schedule of income tax rate reconciliation |
|  | Years Ended December 31, |
|  | 2013 |  | 2012 |  | 2011 |
Computed “expected” tax rate |  | 34.0 | % | 34.0 | % | 34.0 | %
Increase (decrease) in income taxes resulting from: |  |  |  |  |  |  |
State taxes, net of federal tax benefit |  | 3.6 |  | 2.7 |  | 3.4 |
Meals and entertainment |  | 0.1 |  | 0.1 |  | 0.1 |
R&D credits |  | (1.0 | ) | (0.1 | ) | (0.4 | )
Domestic production deduction |  | (2.4 | ) | (2.5 | ) | (2.8 | )
Non-deductible ISO stock option expense |  | 0.2 |  | 0.1 |  | 0.1 |
Unrecognized tax benefits |  | (0.1 | ) | (0.2 | ) | (2.4 | )
Income of non-controlling interests |  | — |  | — |  | (1.0 | )
Other |  | — |  | 0.2 |  | 0.3 |
Effective tax rate |  | 34.4 | % | 34.3 | % | 31.3 | %
Schedule of gross unrecognized tax benefits resulting from uncertain tax positions | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits (“UTB”) resulting from uncertain tax positions is as follows (in thousands):
|  | December 31, |
|  | 2013 |  | 2012 |
Gross UTB balance at beginning of fiscal year |  | $ | 290 |  | $ | 320 |
Increases for tax positions of prior years |  | 10 |  | — |
Reductions for tax positions of prior years |  | (25 | ) | (30 | )
Gross UTB balance at end of fiscal year |  | $ | 275 |  | $ | 290 |

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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=6907707&loc=d3e32639-109319 + Details
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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=6907707&loc=d3e32537-109319 + Details
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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=6907707&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=32707879&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319 + Details
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