XML 53 R41.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Consolidated income (loss) from continuing operations before income taxes by location | Consolidated income before income taxes consisted of:
(Dollars in thousands) | 2017 |  | 2016 |  | 2015
Domestic | $ | 39,751 |  |  | $ | 10,888 |  |  | $ | 14,832 |
International | 93,174 |  |  | 71,392 |  |  | 51,341 |
Total | $ | 132,925 |  |  | $ | 82,280 |  |  | $ | 66,173 |
Income tax expense (benefit) by location | The income tax expense in the consolidated statements of operations consisted of:
(Dollars in thousands) | Current |  | Deferred |  | Total
2017 |  |  |  |  |
Domestic | $ | 7,535 |  |  | $ | 21,936 |  |  | $ | 29,471 |
International | 27,418 |  |  | (4,423 | ) |  | 22,995 |
Total | $ | 34,953 |  |  | $ | 17,513 |  |  | $ | 52,466 |
2016 |  |  |  |  |
Domestic | $ | 2,078 |  |  | $ | 3,376 |  |  | $ | 5,454 |
International | 24,537 |  |  | 4,006 |  |  | 28,543 |
Total | $ | 26,615 |  |  | $ | 7,382 |  |  | $ | 33,997 |
2015 |  |  |  |  |
Domestic | $ | 993 |  |  | $ | 4,272 |  |  | $ | 5,265 |
International | 15,192 |  |  | (604 | ) |  | 14,588 |
Total | $ | 16,185 |  |  | $ | 3,668 |  |  | $ | 19,853 |
Deferred tax assets and liabilities | Deferred tax assets and liabilities as of December 31, 2017 and 2016, were comprised of the following:
(Dollars in thousands) | 2017 |  | 2016
Deferred tax assets |  |  |
Accrued employee benefits and compensation | 8,410 |  |  | 9,899 |
Postretirement benefit obligations | — |  |  | 3,335 |
Tax loss and credit carryforwards | 7,905 |  |  | 7,146 |
Reserves and accruals | 4,699 |  |  | 6,361 |
Other | 2,977 |  |  | 2,792 |
Total deferred tax assets | 23,991 |  |  | 29,533 |
Less deferred tax asset valuation allowance | (8,754 | ) |  | (6,388 | )
Total deferred tax assets, net of valuation allowance | 15,237 |  |  | 23,145 |
Deferred tax liabilities |  |  |
Depreciation and amortization | 14,300 |  |  | 14,965 |
Postretirement benefit obligations | 2,311 |  |  | — |
Unremitted earnings | 3,100 |  |  | 7,239 |
Other | 224 |  |  | 190 |
Total deferred tax liabilities | 19,935 |  |  | 22,394 |
Net deferred tax asset | $ | (4,698 | ) |  | $ | 751 |
Effective income tax rate reconciliation | Income tax expense differs from the amount computed by applying the United States federal statutory income tax rate to income before income taxes. The reasons for this difference were as follows:
(Dollars in thousands) | 2017 |  | 2016 |  | 2015
Tax expense at Federal statutory income tax rate | $ | 46,529 |  |  | $ | 28,798 |  |  | $ | 23,161 |
International tax rate differential | (9,603 | ) |  | (2,260 | ) |  | (4,792 | )
Foreign source income, net of tax credits (excluding U.S. Tax Reform) | 1,087 |  |  | 1,215 |  |  | 2,449 |
State tax, net of federal | 279 |  |  | (200 | ) |  | (416 | )
Unrecognized tax benefits | 2,874 |  |  | (5,555 | ) |  | 148 |
U.S. Tax Reform | 13,683 |  |  | — |  |  | — |
Equity compensation excess tax deductions | (3,867 | ) |  | — |  |  | — |
General business credits | (1,080 | ) |  | (1,125 | ) |  | (908 | )
Acquisition related expenses | — |  |  | — |  |  | 453 |
Distribution related foreign taxes | 2,173 |  |  | 12,433 |  |  | — |
Valuation allowance change (excluding U.S. Tax Reform) | 1,393 |  |  | 171 |  |  | (1,489 | )
Other | (1,002 | ) |  | 520 |  |  | 1,247 |
Income tax expense (benefit) | $ | 52,466 |  |  | $ | 33,997 |  |  | $ | 19,853 |
Reconciliation of unrecognized tax benefits | Unrecognized tax benefits, excluding potential interest and penalties, for the years ended December 31, 2017 and December 31, 2016, were as follows:
(Dollars in thousands) | 2017 |  | 2016
Beginning balance | $ | 5,883 |  |  | $ | 10,571 |
Gross increases - current period tax positions | 7,056 |  |  | 520 |
Gross increases - tax positions in prior periods | 3,243 |  |  | — |
Gross decreases - tax positions in prior periods | (375 | ) |  | (498 | )
Foreign currency exchange | 467 |  |  | (137 | )
Lapse of statute of limitations | (1,709 | ) |  | (4,573 | )
Ending balance | $ | 14,565 |  |  | $ | 5,883 |

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://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=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://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=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://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=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://www.xbrl.org/2003/role/presentationRef -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 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=96868398&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=84230637&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration