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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Income Before Income Taxes

Income before income taxes was derived from the following sources:

		2016				2015				2014
United States		$	3,501			$	4,421			$	11,810
Foreign			17,452				7,285				9,600
		$	20,953			$	11,706			$	21,410

Components of Income Taxes

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

		2016				2015				2014
Current
Federal		$	(1,698	)		$	2,679			$	4,718
Foreign			5,115				2,951				5,081
State and local			32				345				447
			3,449				5,975				10,246
Deferred
Federal			2,986				(611	)			(425	)
Foreign			(914	)			(309	)			(1,110	)
State and local			177				(24	)			(162	)
			2,249				(944	)			(1,697	)
Income taxes		$	5,698			$	5,031			$	8,549

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:

		2016				2015				2014
U. S. federal statutory tax rate			35%				35%				35%
Federal tax at statutory rate		$	7,334			$	4,097			$	7,494
State and local taxes, net of federal benefit			20				89				290
U.S. federal permanent items			400				251				208
Domestic production activities deduction		0					(321	)			(536	)
Foreign earnings and related tax credits			716				700				700
Non-U.S. tax rate variances			(1,484	)			(685	)			(1,313	)
Unrecognized tax benefits			(195	)			(768	)			186
Valuation allowance			(414	)			1,754				1,925
Tax credits			(252	)			(212	)			(184	)
Other, net			(427	)			126				(221	)
		$	5,698			$	5,031			$	8,549

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:

		2016				2015
Deferred tax assets:
Accrued compensation and benefits		$	1,250			$	1,199
Inventory valuation reserves			3,422				3,080
Allowance for doubtful accounts			471				335
Benefit plan reserves			11,130				10,878
Net operating loss carryforwards			3,358				3,851
Tax credit carryforwards		0					534
Other accrued expenses			2,445				2,350
Unrealized foreign exchange			2,812				3,179
Gross deferred tax assets			24,888				25,406
Valuation allowance			(3,805	)			(5,209	)
Net deferred tax assets			21,083				20,197
Deferred tax liabilities:
Depreciation and other basis differences			(8,341	)			(5,841	)
Intangibles			(2,887	)			(2,959	)
Undistributed foreign earnings			(1,642	)			(1,094	)
Other			(83	)			(67	)
Deferred tax liabilities			(12,953	)			(9,961	)
Net deferred tax assets		$	8,130			$	10,236

		2016				2015
Change in net deferred tax assets:
Deferred income tax expense		$	(2,249	)		$	944
Items of other comprehensive income (loss)			(48	)			(464	)
Currency translation			191				18
Total change in net deferred tax assets		$	(2,106	)		$	498

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:

		2016				2015				2014
Balance at January 1		$	178			$	794			$	608
Additions for tax positions of prior years		0				0					186
Reductions for tax positions of prior years		0					(616	)			0
Expiration of statutes of limitations			(178	)		0					0
Balance at December 31		$	0			$	178			$	794

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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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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.

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