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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Taxes |
Earnings Before Income Taxes |
($ in thousands) |  | 2014 |  | 2013 |  | 2012 |
Domestic |  | $ | 19,205 |  | $ | (5,396 | ) | $ | (6,184 | )
Non-U.S. |  |  | 20,143 |  |  | 23,459 |  |  | 20,628 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | 39,348 |  | $ | 18,063 |  | $ | 14,444 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Significant Components of Income Tax Provision/(Benefit) |
($ in thousands) |  | 2014 |  | 2013 |  | 2012 |
Current: |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 508 |  | $ | 661 |  | $ | 39 |
State |  |  | 437 |  |  | 671 |  |  | 534 |
Non-U.S. |  |  | 6,981 |  |  | 4,804 |  |  | 5,839 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Current |  |  | 7,926 |  |  | 6,136 |  |  | 6,412 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred: |  |  |  |  |  |  |  |  |  |
Federal |  |  | 3,436 |  |  | 7,091 |  |  | (1,423 | )
State |  |  | 154 |  |  | 877 |  |  | (350 | )
Non-U.S. |  |  | 1,310 |  |  | 1,962 |  |  | (3,687 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Deferred |  |  | 4,900 |  |  | 9,930 |  |  | (5,460 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total provision for Income Taxes |  | $ | 12,826 |  | $ | 16,066 |  | $ | 952 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Significant Components of Deferred Tax Assets and Liabilities |
($ in thousands) |  | 2014 |  | 2013 |
Postretirement benefits |  | $ | 1,953 |  | $ | 1,877 |
Inventory reserves |  |  | 1,567 |  |  | 1,934 |
Loss carry-forwards |  |  | 23,095 |  |  | 36,373 |
Credit carry-forwards |  |  | 16,903 |  |  | 15,028 |
Nondeductible accruals |  |  | 6,336 |  |  | 6,126 |
Research expenditures |  |  | 30,088 |  |  | 28,606 |
Prepaid charges |  |  | 45 |  |  | 727 |
Foreign exchange loss |  |  | 1,009 |  |  | — |
Other |  |  | 4,102 |  |  | 5,476 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross deferred tax assets |  |  | 85,098 |  |  | 96,147 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation |  |  | 11,073 |  |  | 11,168 |
Pensions |  |  | 9,462 |  |  | 19,177 |
Unrealized foreign exchange gain |  |  | — |  |  | 350 |
Subsidiaries' unremitted earnings |  |  | — |  |  | 2,774 |
Other |  |  | — |  |  | 696 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross deferred tax liabilities |  |  | 20,535 |  |  | 34,165 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax assets |  |  | 64,563 |  |  | 61,982 |
Deferred tax asset valuation allowance |  |  | (12,938 | ) |  | (14,323 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total net deferred tax assets |  | $ | 51,625 |  | $ | 47,659 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of current and long-term deferred tax assets and current and long-term deferred tax liabilities |
($ in thousands) |  | 2014 |  | 2013 |
Current Deferred Tax Assets |  | $ | 8,708 |  | $ | 9,426 |
Current Deferred Tax Liabilities |  |  | (8 | ) |  | (138 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Current Deferred Tax Assets |  |  | 8,700 |  |  | 9,288 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-current Deferred Tax Assets |  |  | 43,120 |  |  | 38,620 |
Non-current Deferred Tax Liabilities |  |  | (195 | ) |  | (249 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Non-current Deferred Tax Assets |  |  | 42,925 |  |  | 38,371 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total net deferred tax assets |  | $ | 51,625 |  | $ | 47,659 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reconciliation of Effective Income Taxes Rate |
|  | 2014 |  | 2013 |  | 2012 |
Taxes at the U.S. statutory rate |  |  | 35.00 | % |  | 35.00 | % |  | 35.00 | %
State income taxes, net of federal income tax benefit |  |  | 0.72 | % |  | 0.95 | % |  | (0.02 | )%
Non-U.S. income taxed at rates different than the U.S. statutory rate |  |  | (7.57 | )% |  | (9.86 | )% |  | (8.99 | )%
Benefit of scheduled tax credits |  |  | (1.32 | )% |  | (3.88 | )% |  | — | %
Foreign source income |  |  | 3.47 | % |  | 60.94 | % |  | 5.64 | %
Non-deductible expenses |  |  | 2.79 | % |  | (2.42 | )% |  | (0.97 | )%
Non-U.S. adjustments to valuation allowances |  |  | (0.43 | )% |  | 8.18 | % |  | (5.72 | )%
Nontaxable foreign gain |  |  | — | % |  | — | % |  | (11.47 | )%
Change in unrecognized tax benefits |  |  | — | % |  | 0.69 | % |  | (8.97 | )%
Other |  |  | (0.08 | )% |  | (0.65 | )% |  | 2.09 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Effective income tax rate |  |  | 32.58 | % |  | 88.95 | % |  | 6.59 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reconciliation of Unrecognized Tax Benefits |
($ in thousands) |  | 2014 |  | 2013 |
Balance at January 1 |  | $ | 4,043 |  | $ | 4,130 |
Increase related to current year tax positions |  |  | 40 |  |  | 35 |
Increase related to prior year tax positions |  |  | 5 |  |  | 35 |
Decrease as a result of lapse of statute of limitations |  |  | (114 | ) |  | (36 | )
Decrease related to settlements with taxing authorities |  |  | (14 | ) |  | (121 | )
Other Decrease |  |  | (70 | ) |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at December 31 |  | $ | 3,890 |  | $ | 4,043 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​

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