XML 53 R32.htm IDEA: XBRL DOCUMENT v2.4.0.8

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Income Before Income Taxes

Income before income taxes was derived from the following sources:

		2013				2012				2011
United States		$	16,388			$	21,754			$	18,842
Foreign			15,406				23,073				27,152
		$	31,794			$	44,827			$	45,994

Components of Income Taxes

The components of income taxes for the years ended December 31 are as follows:

		2013				2012				2011
Current
Federal		$	6,308			$	9,663			$	5,679
Foreign			5,018				7,885				8,896
State and local			986				920				1,123
			12,312				18,468				15,698
Deferred
Federal			(1,081	)			(1,443	)			726
Foreign			157				(1,310	)			(1,199	)
State and local			(181	)			(174	)			(215	)
			(1,105	)			(2,927	)			(688	)
Income taxes		$	11,207			$	15,541			$	15,010

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:

		2013				2012				2011
U. S. federal statutory tax rate			35	%			35	%			35	%
Federal tax at statutory rate		$	11,128			$	15,689			$	16,098
State and local taxes, net of federal benefit			583				485				590
U.S. federal permanent items			124				332				14
Domestic productions activity deduction			(372	)			(669	)			(401	)
Foreign earnings and related tax credits			658				1,498				261
Non-U.S. tax rate variances			(1,467	)			(1,175	)			(1,510	)
Unrecognized tax benefits			(770	)			310				21
Valuation allowance			1,091				(337	)			19
Tax credits			(453	)			(85	)			(265	)
Other, net			685				(507	)			183
		$	11,207			$	15,541			$	15,010

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:

		2013				2012
Deferred tax assets:
Accrued compensation and benefits		$	1,463			$	1,808
Inventory valuation reserves			2,581				2,771
Benefit plan reserves			7,773				9,468
Capital tax loss carryforwards			0				2,034
Net operating loss carryforwards			1,244				788
Other accrued expenses			2,926				2,480
Unrealized foreign exchange			743				58
Gross deferred tax assets			16,730				19,407
Valuation allowance			(1,420	)			(2,329	)
Net deferred tax assets			15,310				17,078
Deferred tax liabilities:
Depreciation and other basis differences			(5,533	)			(5,276	)
Intangibles			(2,828	)			(3,571	)
Other			(132	)			(90	)
Deferred tax liabilities			(8,493	)			(8,937	)
Net deferred tax assets		$	6,817			$	8,141
		2013				2012
Change in net deferred tax assets:
Deferred income tax benefit		$	1,105			$	2,927
Items of other comprehensive income (loss)			(2,692	)			(1,033	)
Currency translation			263				(254	)
Deferred tax balances from business acquisition			0				(1,036	)
Total change in net deferred tax assets		$	(1,324	)		$	604

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:

		2013				2012				2011
Balance at January 1		$	1,361			$	1,015			$	1,062
Additions for tax positions of prior years			0				511				0
Reductions for tax positions of prior years			(588	)			0				(32	)
Expiration of statutes of limitations			(165	)			(165	)			(15	)
Balance at December 31		$	608			$	1,361			$	1,015

X

- Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

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.

+ 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

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h)(1)(i))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 55

-Paragraph 217

-URI http://asc.fasb.org/extlink&oid=32707879&loc=d3e36027-109320



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15A

-URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration