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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Provision for Taxes on Income and Other Related Income Before Taxes | The provisions for taxes on income and the related income before taxes for the years ended December 31, 2019, 2018 and 2017, were as follows:
(In thousands) |  | 2019 |  |  | 2018 As Adjusted |  |  | 2017 As Adjusted |
Taxes on Income |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 9,998 |  |  | $ | (296 | ) |  | $ | 32,299 |
Deferred (1) |  |  | (2,879 | ) |  |  | 8,876 |  |  |  | (3,690 | )
State |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 2,248 |  |  |  | 2,095 |  |  |  | 1,764 |
Deferred (1) |  |  | (1,783 | ) |  |  | 1,821 |  |  |  | 587 |
Foreign |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 15,568 |  |  |  | 14,510 |  |  |  | 13,077 |
Deferred |  |  | (354 | ) |  |  | (342 | ) |  |  | 2,102 |
Total (1) |  | $ | 22,798 |  |  | $ | 26,664 |  |  | $ | 46,139 |
Income before Taxes |  |  |  |  |  |  |  |  |  |  |  |
Domestic (1) |  | $ | 63,399 |  |  | $ | 86,368 |  |  | $ | 80,307 |
Foreign |  |  | 62,500 |  |  |  | 51,401 |  |  |  | 66,575 |
Total (1) |  | $ | 125,899 |  |  | $ | 137,769 |  |  | $ | 146,882 |
| (1) | The 2018 and 2017 amounts for the noted line items have been retrospectively changed from the amounts originally reported as a result of the Company’s first quarter 2019 change in method of accounting for U.S. inventory valuation from LIFO to FIFO. |
Summary of Variations Between the Effective and Statutory U.S. Federal Income Tax Rates | The variations between the effective and statutory U.S. federal income tax rates are summarized as follows:
(In thousands) |  | 2019 Amount |  |  | % |  |  | 2018 Amount As Adjusted |  |  | % |  |  | 2017 Amount As Adjusted |  |  | % |
Federal income tax provision at statutory tax rate (1) |  | $ | 26,439 |  |  |  | 21.0 |  |  | $ | 28,931 |  |  |  | 21.0 |  |  | $ | 51,409 |  |  |  | 35.0 |
State income tax provision, less applicable federal tax benefit (1)(2) |  |  | 367 |  |  |  | 0.3 |  |  |  | 3,094 |  |  |  | 2.2 |  |  |  | 1,528 |  |  |  | 1.0 |
Foreign income taxed at different rates |  |  | 623 |  |  |  | 0.5 |  |  |  | 864 |  |  |  | 0.6 |  |  |  | (8,075 | ) |  |  | (5.5 | )
U.S. taxation of foreign earnings (3) |  |  | 2,349 |  |  |  | 1.9 |  |  |  | 2,348 |  |  |  | 1.7 |  |  |  | (1,054 | ) |  |  | (0.7 | )
Unrecognized tax benefits |  |  | 2,954 |  |  |  | 2.3 |  |  |  | (460 | ) |  |  | (0.3 | ) |  |  | (47 | ) |  |  | — |
Domestic production activities deduction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,339 | ) |  |  | (0.9 | )
Nontaxable foreign interest income |  |  | — |  |  |  | — |  |  |  | (1,179 | ) |  |  | (0.9 | ) |  |  | (2,073 | ) |  |  | (1.4 | )
U.S. tax reform, net impact (4) |  |  | — |  |  |  | — |  |  |  | (375 | ) |  |  | (0.3 | ) |  |  | 10,323 |  |  |  | 7.0 |
Change in accounting methods (5) |  |  | — |  |  |  | — |  |  |  | (3,383 | ) |  |  | (2.5 | ) |  |  | (893 | ) |  |  | (0.6 | )
Prior years return to provision true-up (6) |  |  | (1,740 | ) |  |  | (1.4 | ) |  |  | (508 | ) |  |  | (0.4 | ) |  |  | (266 | ) |  |  | (0.2 | )
Stock based compensation, excess tax benefits |  |  | (1,633 | ) |  |  | (1.3 | ) |  |  | (1,648 | ) |  |  | (1.2 | ) |  |  | (2,254 | ) |  |  | (1.5 | )
U.S. tax credits (7) |  |  | (6,412 | ) |  |  | (5.1 | ) |  |  | (1,324 | ) |  |  | (1.0 | ) |  |  | (1,204 | ) |  |  | (0.8 | )
Non-deductible expenses and other items, net |  |  | (149 | ) |  |  | (0.1 | ) |  |  | 304 |  |  |  | 0.5 |  |  |  | 84 |  |  |  | 0.0 |
Total income tax provision (1) |  | $ | 22,798 |  |  |  | 18.1 |  |  | $ | 26,664 |  |  |  | 19.4 |  |  | $ | 46,139 |  |  |  | 31.4 |
(1) | The 2018 and 2017 amounts for the noted line items have been retrospectively changed from the amounts originally reported as a result of the Company’s first quarter 2019 change in method of accounting for U.S. inventory valuation from LIFO to FIFO.
(2) | Includes incremental state research credits for the tax years 2015 - 2019 that were identified as part of a research and development tax credit study.
(3) | Includes cost of global intangible low-taxed income (GILTI) in 2019 and 2018 plus other taxes paid or withheld on cash repatriated from foreign countries in 2019 and 2018.
(4) | Does not include state tax impacts, which are included in state income tax provision, less applicable federal tax benefit.
(5) | For 2018, amount represents the federal tax rate change due to certain accounting methods that were adopted on the 2017 federal income tax return. For 2017, amount represents an accounting method change for depreciation.
(6) | Certain 2018 and 2017 amounts have been reclassified to conform to the 2019 presentation.
(7) | Includes incremental federal research credits for 2015 - 2019 that were identified as part of a research and development tax credit study. Also includes a federal tax rate change due to the classification of certain 2016 and 2017 depreciable fixed assets as deductible research costs.
Schedule Showing Tax Effects of Significant Temporary Differences Representing Deferred Tax Assets and Liabilities | At December 31, 2019 and 2018, the tax effects of significant temporary differences representing deferred tax assets and liabilities were as follows:
(In thousands) |  | 2019 |  |  | 2018 As Adjusted |
Deferred Tax Liabilities: |  |  |  |  |  |  |  |
Depreciation |  | $ | (59,574 | ) |  | $ | (57,665 | )
Unrealized foreign exchange loss |  |  | (1,479 | ) |  |  | (980 | )
Amortization of intangibles |  |  | (835 | ) |  |  | (1,016 | )
Inventories (1) |  |  | (5,855 | ) |  |  | (8,429 | )
Other |  |  | (307 | ) |  |  | (301 | )
|  | $ | (68,050 | ) |  | $ | (68,391 | )
Deferred Tax Assets: |  |  |  |  |  |  |  |
Pensions |  | $ | 5,855 |  |  | $ | 7,971 |
Deferred revenue |  |  | 161 |  |  |  | 208 |
Other accruals and reserves |  |  | 12,171 |  |  |  | 13,123 |
Legal and environmental accruals |  |  | 7,758 |  |  |  | 7,143 |
Deferred compensation |  |  | 15,816 |  |  |  | 14,214 |
Bad debt and rebate reserves |  |  | 2,604 |  |  |  | 2,916 |
Non-U.S. subsidiaries net operating loss carryforwards |  |  | 3,966 |  |  |  | 3,869 |
Tax credit carryforwards |  |  | 5,200 |  |  |  | 2,141 |
|  | $ | 53,531 |  |  | $ | 51,585 |
Valuation Allowance |  | $ | (2,994 | ) |  | $ | (3,701 | )
Net Deferred Tax Liabilities |  | $ | (17,513 | ) |  | $ | (20,507 | )
Reconciliation to Consolidated Balance Sheet: |  |  |  |  |  |  |  |
Non-current deferred tax assets (in other non-current assets) (1) |  |  | 5,878 |  |  |  | 4,454 |
Non-current deferred tax liabilities |  |  | (23,391 | ) |  |  | (24,961 | )
Net Deferred Tax (Liabilities) Assets |  | $ | (17,513 | ) |  | $ | (20,507 | )
| (1) | The 2018 amounts for the noted line items have been retrospectively changed from the amounts originally reported as a result of the Company’s first quarter 2019 change in method of accounting for U.S. inventory valuation from LIFO to FIFO. |
Schedule of Reconciliations of Unrecognized Tax Benefits | Below are reconciliations of the January 1 and December 31 balances of unrecognized tax benefits for 2019, 2018 and 2017:
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
Unrecognized tax benefits, opening balance |  | $ | 168 |  |  | $ | 1,927 |  |  | $ | 1,931 |
Gross increases – tax positions in prior period |  |  | 2,760 |  |  |  | 29 |  |  |  | — |
Gross increases – current period tax positions |  |  | 355 |  |  |  | 26 |  |  |  | 20 |
Foreign currency translation |  |  | 7 |  |  |  | 1 |  |  |  | 69 |
Settlement |  |  | — |  |  |  | (1,526 | ) |  |  | — |
Lapse of statute of limitations |  |  | (17 | ) |  |  | (289 | ) |  |  | (93 | )
Unrecognized tax benefits, ending balance |  | $ | 3,273 |  |  | $ | 168 |  |  | $ | 1,927 |

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