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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2012
Income Taxes [Abstract] |
Income before income taxes | Income before income taxes was derived from the following sources:
|  | 2012 |  |  | 2011 |  |  | 2010 |
United States |  | $ | 21,754 |  |  | $ | 18,842 |  |  | $ | 9,007 |
Foreign |  |  | 23,073 |  |  |  | 27,152 |  |  |  | 21,176 |
|  | $ | 44,827 |  |  | $ | 45,994 |  |  | $ | 30,183 |
Components of income taxes | The components of income taxes for the years ended December 31 are as follows:
|  | 2012 |  |  | 2011 |  |  | 2010 |
Current |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 9,663 |  |  | $ | 5,679 |  |  | $ | 1,768 |
Foreign |  |  | 7,885 |  |  |  | 8,896 |  |  |  | 5,498 |
State and local |  |  | 920 |  |  |  | 1,123 |  |  |  | 809 |
|  |  | 18,468 |  |  |  | 15,698 |  |  |  | 8,075 |
Deferred |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (1,443 | ) |  |  | 726 |  |  |  | 342 |
Foreign |  |  | (1,310 | ) |  |  | (1,199 | ) |  |  | (1,098 | )
State and local |  |  | (174 | ) |  |  | (215 | ) |  |  | (144 | )
|  |  | (2,927 | ) |  |  | (688 | ) |  |  | (900 | )
Income taxes |  | $ | 15,541 |  |  | $ | 15,010 |  |  | $ | 7,175 |
Differences between the provision for income taxes at the U.S. federal statutory rate and the tax | The differences between the provision for income taxes at the U.S. federal statutory rate and the tax shown in the Statements of Consolidated Income for the years ended December 31 are summarized as follows:
|  | 2012 |  |  | 2011 |  |  | 2010 |
U. S. federal statutory tax rate |  |  | 35 | % |  |  | 35 | % |  |  | 35 | %
Federal tax at statutory rate |  | $ | 15,689 |  |  | $ | 16,098 |  |  | $ | 10,564 |
State and local taxes, net of federal benefit |  |  | 485 |  |  |  | 590 |  |  |  | 432 |
U.S. federal permanent items |  |  | 332 |  |  |  | 14 |  |  |  | 324 |
Domestic productions activity deduction |  |  | (669 | ) |  |  | (401 | ) |  |  | (312 | )
Foreign earnings and related tax credits |  |  | 1,498 |  |  |  | 261 |  |  |  | 641 |
Non-U.S. tax rate variances |  |  | (1,175 | ) |  |  | (1,510 | ) |  |  | (3,121 | )
Unrecognized tax benefits |  |  | 310 |  |  |  | 21 |  |  |  | (368 | )
Valuation allowance |  |  | (337 | ) |  |  | 19 |  |  |  | (403 | )
Tax credits |  |  | (85 | ) |  |  | (265 | ) |  |  | (329 | )
Other, net |  |  | (507 | ) |  |  | 183 |  |  |  | (253 | )
|  | $ | 15,541 |  |  | $ | 15,010 |  |  | $ | 7,175 |
Tax effects of temporary differences that give rise to the Company's deferred tax assets and liabilities | The tax effects of temporary differences that give rise to the Company’s deferred tax assets and liabilities at December 31 are as follows:
|  | 2012 |  |  | 2011 |
Deferred tax assets: |  |  |  |  |  |  |  |
Accrued compensation and benefits |  | $ | 1,808 |  |  | $ | 1,520 |
Inventory valuation reserves |  |  | 2,771 |  |  |  | 1,938 |
Benefit plan reserves |  |  | 9,468 |  |  |  | 9,126 |
Capital tax loss carryforwards |  |  | 2,034 |  |  |  | 2,054 |
Net operating loss carryforwards |  |  | 788 |  |  |  | 1,061 |
Other accrued expenses |  |  | 2,480 |  |  |  | 2,222 |
Unrealized foreign exchange |  |  | 58 |  |  |  | 346 |
Gross deferred tax assets |  |  | 19,407 |  |  |  | 18,267 |
Valuation allowance |  |  | (2,329 | ) |  |  | (3,115 | )
Net deferred tax assets |  |  | 17,078 |  |  |  | 15,152 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Depreciation and other basis differences |  |  | (5,276 | ) |  |  | (4,602 | )
Intangibles |  |  | (3,571 | ) |  |  | (2,706 | )
Other |  |  | (90 | ) |  |  | (307 | )
Deferred tax liabilities |  |  | (8,937 | ) |  |  | (7,615 | )
Net deferred tax assets |  | $ | 8,141 |  |  | $ | 7,537 |
|  | 2012 |  |  | 2011 |
Change in net deferred tax assets: |  |  |  |  |  |  |  |
Deferred income tax benefit |  | $ | 2,927 |  |  | $ | 688 |
Items of other comprehensive income (loss) |  |  | (1,033 | ) |  |  | 2,175 |
Currency translation |  |  | (254 | ) |  |  | (49 | )
Deferred tax balances from business acquisition |  |  | (1,036 | ) |  |  | 0 |
Total change in net deferred tax assets |  | $ | 604 |  |  | $ | 2,814 |
Changes in unrecognized tax benefits | The following is a tabular reconciliation of the total amounts of unrecognized tax benefits for the period ended December 31:
|  | 2012 |  |  | 2011 |  |  | 2010 |
Balance at January 1 |  | $ | 1,015 |  |  | $ | 1,062 |  |  | $ | 1,304 |
Additions for tax positions of current year |  |  | 0 |  |  |  | 0 |  |  |  | 53 |
Additions for tax positions of prior years |  |  | 511 |  |  |  | 0 |  |  |  | 62 |
Reductions for tax positions of prior years |  |  | 0 |  |  |  | (32 | ) |  |  | (281 | )
Expiration of statutes of limitations |  |  | (165 | ) |  |  | (15 | ) |  |  | (76 | )
Balance at December 31 |  | $ | 1,361 |  |  | $ | 1,015 |  |  | $ | 1,062 |

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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