XML 65 R49.htm IDEA: XBRL DOCUMENT v3.10.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income from continuing operations

Income from continuing operations for the three years ended December 31 was as follows:

	2018				2017				2016
U.S. operations	$	23,913			$	7,465			$	54,018
Foreign operations	11,929				(8,757		)		12,473
Total	$	35,842			$	(1,292	)		$	66,491

Income tax expense (benefit)

Income tax expense (benefit) for the three years ended December 31 was as follows:

	2018				2017				2016
Current:
Federal	$	3,731			$	2,590			$	15,962
Foreign	7,030				8,701				3,035
State	1,033				812				1,859
	$	11,794			$	12,103			$	20,856
Deferred:
Federal	$	(3,135	)		$	1,640			$	(472	)
Foreign	(6,012		)		(8,699		)		(434		)
State	(343		)		(131		)		(73		)
	$	(9,490	)		$	(7,190	)		$	(979	)
Total:
Federal	$	596			$	4,230			$	15,490
Foreign	1,018				2				2,601
State	690				681				1,786
Total Income Tax Expense	$	2,304			$	4,913			$	19,877

Effective tax rate reconciliation

Our effective income tax rate varied from the U.S. federal statutory tax rate for the three years ended December 31 as follows:

	2018			2017			2016
Tax at statutory rate	21.0	%		35.0	%		35.0	%
(Decreases) increases in the tax rate from:
State and local taxes, net of federal benefit	1.4			(21.1	)		1.7
Effect of foreign operations	(4.3	)		(70.8	)		(5.5	)
Transaction costs	(4.2	)		(226.3	)		—
Effect of 2017 deferred rate change	(1.0	)		(154.3	)		—
Transition Tax	(1.0	)		(28.0	)		—
Effect of changes in valuation allowances	6.6			(126.5	)		1.9
Domestic production activities deduction	0.4			28.3			(2.2	)
Share-based payments	(5.7	)		90.4			—
Research & Development credit	(3.6	)		82.9			(1.3	)
Other, net	(3.2	)		10.2			0.3
Effective income tax rate	6.4	%		(380.2	)%		29.9	%

Deferred tax assets and liabilities

Deferred tax assets and liabilities were comprised of the following as of December 31:

	2018				2017
Deferred Tax Assets:
Inventories, principally due to changes in inventory reserves	$	3,335			$	4,757
Employee wages and benefits, principally due to accruals for financial reporting purposes	11,642				11,031
Warranty reserves accrued for financial reporting purposes	2,610				2,578
Receivables, principally due to allowance for doubtful accounts and tax accounting method for equipment rentals	1,728				2,138
Tax loss carryforwards	7,765				11,383
Tax credit carryforwards	4,708				1,575
Other	4,712				3,630
Gross Deferred Tax Assets	$	36,500			$	37,092
Less: valuation allowance	(11,519		)		(9,691		)
Total Net Deferred Tax Assets	$	24,981			$	27,401
Deferred Tax Liabilities:
Property, Plant and Equipment, principally due to differences in depreciation and related gains	9,882				9,042
Goodwill and Intangible Assets	45,628				60,450
Total Deferred Tax Liabilities	$	55,510			$	69,492
Net Deferred Tax Liabilities	$	(30,529	)		$	(42,091	)

Reconciliation of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2018				2017
Balance at January 1	$	2,232			$	2,477
Increases as a result of tax positions taken during a prior period	74				—
Increases as a result of tax positions taken during the current year	370				329
Increase related to prior period tax positions of acquired entities	3,833				236
Decreases relating to settlement with tax authorities	—				(68		)
Reductions as a result of a lapse of the applicable statute of limitations	(1,274		)		(770		)
Increases as a result of foreign currency fluctuations	418				28
Balance at December 31	$	5,653			$	2,232

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-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

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=26873400&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319

+ Details

Name:	us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration