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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Before Income Taxes

Income before income taxes was derived from the following sources:

		2015				2014				2013
United States		$	4,421			$	11,810			$	16,388
Foreign			7,285				9,600				15,406
		$	11,706			$	21,410			$	31,794

Components of Income Taxes

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

		2015				2014				2013
Current
Federal		$	2,679			$	4,718			$	6,308
Foreign			2,951				5,081				5,018
State and local			345				447				986
			5,975				10,246				12,312
Deferred
Federal			(611	)			(425	)			(1,081	)
Foreign			(309	)			(1,110	)			157
State and local			(24	)			(162	)			(181	)
			(944	)			(1,697	)			(1,105	)
Income taxes		$	5,031			$	8,549			$	11,207

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 year ended December 31 are summarized as follows:

		2015				2014				2013
U. S. federal statutory tax rate			35	%			35	%			35	%
Federal tax at statutory rate		$	4,097			$	7,494			$	11,128
State and local taxes, net of federal benefit			89				290				583
U.S. federal permanent items			251				208				124
Domestic production activities deduction			(321	)			(536	)			(372	)
Foreign earnings and related tax credits			700				700				701
Non-U.S. tax rate variances			(685	)			(1,313	)			(1,467	)
Unrecognized tax benefits			(768	)			186				(770	)
Valuation allowance			1,754				1,925				1,091
Tax credits			(212	)			(184	)			(453	)
Other, net			126				(221	)			642
		$	5,031			$	8,549			$	11,207

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:

		2015				2014
Deferred tax assets:
Accrued compensation and benefits		$	1,199			$	1,358
Inventory valuation reserves			3,080				2,849
Allowance for doubtful accounts			335				316
Benefit plan reserves			10,878				11,331
Net operating loss carryforwards			3,851				2,751
Tax credit carryforwards			534				745
Other accrued expenses			2,350				2,226
Unrealized foreign exchange			3,179				1,805
Gross deferred tax assets			25,406				23,381
Valuation allowance			(5,209	)			(3,614	)
Net deferred tax assets			20,197				19,767
Deferred tax liabilities:
Depreciation and other basis differences			(5,841	)			(5,814	)
Intangibles			(2,959	)			(3,706	)
Undistributed foreign earnings			(1,094	)			(444	)
Other			(67	)			(65	)
Deferred tax liabilities			(9,961	)			(10,029	)
Net deferred tax assets		$	10,236			$	9,738

		2015				2014
Change in net deferred tax assets:
Deferred income tax benefit		$	944			$	1,697
Items of other comprehensive income (loss)			(464	)			3,109
Currency translation			18				140
Deferred tax balances from business acquisition			0				(2,025	)
Total change in net deferred tax assets		$	498			$	2,921

Changes in Unrecognized Tax Benefits Excluding Interest and Penalties

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits, excluding interest and penalties, for the year ended December 31:

		2015				2014				2013
Balance at January 1		$	794			$	608			$	1,361
Additions for tax positions of prior years			0				186				0
Reductions for tax positions of prior years			(616	)			0				(588	)
Expiration of statutes of limitations			0				0				(165	)
Balance at December 31		$	178			$	794			$	608

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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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