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Note 8 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

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

		2020				2019				2018
United States		$	28,493			$	41,234			$	45,271
Foreign countries			2,753				3,932				5,045
Total		$	31,246			$	45,166			$	50,316

		2020				2019				2018
Current expense:
Federal		$	4,058			$	8,204			$	7,779
Foreign			353				1,140				1,179
State and local			1,103				1,205				1,042
		$	5,514			$	10,549			$	10,000
Deferred expense (benefit):
Federal		$	728			$	(720	)		$	405
Foreign			(349	)			(379	)			(125	)
State and local			165				(99	)			57
			544				(1,198	)			337
Income tax expense		$	6,058			$	9,351			$	10,337

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

		2020				2019				2018
Income taxes at statutory rate		$	6,562			$	9,485			$	10,566
State and local income taxes, net of federal tax benefit			711				803				832
Tax credits			(808	)			(898	)			(506	)
Uncertain tax positions			42				164				172
Valuation allowance			-				71				37
Federal tax reform – deferred rate change			-				-				(581	)
Deemed mandatory repatriation			-				-				(48	)
Other			(449	)			(274	)			(135	)
Income tax expense		$	6,058			$	9,351			$	10,337

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

		2020				2019
Deferred tax assets:
Inventories		$	646			$	1,391
Accrued liabilities			1,484				2,095
Postretirement health benefits obligation			6,815				5,884
Pension			1,688				240
Lease liabilities			390				361
Other			1,434				1,360
Total deferred tax assets			12,457				11,331
Valuation allowance			(567	)			(567	)
Net deferred tax assets			11,890				10,764
Deferred tax liabilities:
Depreciation and amortization			(9,536	)			(9,446	)
Leases – right of use assets			(388	)			(361	)
Foreign withholding tax			(100	)			(100	)
Total deferred tax liabilities			(10,024	)			(9,907	)
Net deferred tax assets		$	1,866			$	857

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

		2020				2019				2018
Balance at beginning of year		$	1,130			$	951			$	797
Additions based on tax positions related to the current year			177				372				268
Reductions due to lapse of applicable statute of limitations			(139	)			(193	)			(114	)
Settlements			(290	)			-				-
Balance at end of year		$	878			$	1,130			$	951

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