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Note 8 - Income Taxes Concept (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

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

		2023				2022				2021
United States		$	34,763			$	6,270			$	30,973
Foreign countries			9,198				7,602				6,275
Total		$	43,961			$	13,872			$	37,248

		2023				2022				2021
Current expense:
Federal		$	6,735			$	1,581			$	5,174
Foreign			1,591				1,264				1,087
State and local			1,098				918				1,086
		$	9,424			$	3,763			$	7,347
Deferred expense (benefit):
Federal		$	(206	)		$	(565	)		$	60
Foreign			196				147				48
State and local			(404	)			(668	)			(58	)
			(414	)			(1,086	)			50
Income tax expense		$	9,010			$	2,677			$	7,397

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

		2023				2022				2021
Income taxes at statutory rate		$	9,232			$	2,913			$	7,822
State and local income taxes, net of federal tax benefit			620				282				898
Tax credits			(1,208	)			(627	)			(1,052	)
Uncertain tax positions			(34	)			(99	)			(26	)
Valuation allowance			(72	)			(85	)			(86	)
GILTI/FDII			368				608				238
Foreign rate differential			(145	)			(186	)			(183	)
Other			249				(129	)			(214	)
Income tax expense		$	9,010			$	2,677			$	7,397

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

		2023				2022
Deferred tax assets:
Inventories		$	520			$	524
Accrued liabilities			3,011				3,208
Postretirement health benefits obligation			5,600				5,584
Pension			2,386				1,868
Lease liabilities			4,916				520
Capitalized R&D			2,041				1,103
Interest			8,703				3,168
Other			1,155				1,399
Total deferred tax assets			28,332				17,374
Valuation allowance			(390	)			(462	)
Net deferred tax assets			27,942				16,912
Deferred tax liabilities
Depreciation and amortization			(22,923	)			(16,987	)
Leases - right of use assets			(4,922	)			(536	)
Total deferred tax liabilities			(27,845	)			(17,523	)
Net deferred tax assets (liabilities)		$	97			$	(611	)

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

		2023				2022				2021
Balance at beginning of year		$	754			$	808			$	878
Additions based on tax positions related to the current year			180				117				153
Reductions due to lapse of applicable statute of limitations			(230	)			(171	)			(96	)
Settlements			-				-				(127	)
Balance at end of year		$	704			$	754			$	808

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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