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Note 8 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		2019				2018				2017
United States		$	41,234			$	45,271			$	33,277
Foreign countries			3,932				5,045				6,101
Total		$	45,166			$	50,316			$	39,378

		2019				2018				2017
Current expense:
Federal		$	8,204			$	7,779			$	16,489
Foreign			1,140				1,179				1,243
State and local			1,205				1,042				1,231
			10,549				10,000				18,963
Deferred expense (benefit):
Federal			(720	)			405				(5,968	)
Foreign			(379	)			(125	)			51
State and local			(99	)			57				(223	)
			(1,198	)			337				(6,140	)
Income tax expense		$	9,351			$	10,337			$	12,823

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		201 9				201 8				201 7
Income taxes at statutory rate		$	9,485			$	10,566			$	13,782
State and local income taxes, net of federal tax benefit			803				832				555
Tax credits			(898	)			(506	)			(295	)
Domestic production activities deduction			-				-				(1,191	)
Lower foreign taxes differential			(65	)			(5	)			(842	)
Uncertain tax positions			164				172				346
Valuation allowance			71				37				100
Federal tax reform – deferred rate change			-				(581	)			(1,624	)
Deemed mandatory repatriation			-				(48	)			1,370
Foreign withholding tax			-				-				600
Other			(209	)			(130	)			22
Income tax expense		$	9,351			$	10,337			$	12,823

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		2019				2018
Deferred tax assets:
Inventories		$	1,391			$	1,161
Accrued liabilities			2,095				2,306
Postretirement health benefits obligation			5,884				5,350
Pension			240				-
Lease liabilities			361				-
Other			1,360				840
Total deferred tax assets			11,331				9,657
Valuation allowance			(567	)			(496	)
Net deferred tax assets			10,764				9,161
Deferred tax liabilities:
Depreciation and amortization			(9,446	)			(9,351	)
Leases – right of use assets			(361	)			-
Pension			-				(1,113	)
Foreign withholding tax			(100	)			(600	)
Total deferred tax liabilities			(9,907	)			(11,064	)
Net deferred tax assets (liabilities)		$	857			$	(1,903	)

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

		201 9				201 8				201 7
Balance at beginning of year		$	951			$	797			$	492
Additions based on tax positions related to the current year			372				268				239
Additions based on tax positions related to prior years			-				-				165
Reductions due to lapse of applicable statute of limitations			(193	)			(114	)			(99	)
Balance at end of year		$	1,130			$	951			$	797

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.

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