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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Income Before Income Taxes | Income before income taxes was derived from the following sources:
|  | 2019 |  |  | 2018 |  |  | 2017 |
United States |  | $ | 11,353 |  |  | $ | 10,268 |  |  | $ | 4,774 |
Foreign |  |  | 20,105 |  |  |  | 22,320 |  |  |  | 21,032 |
|  | $ | 31,458 |  |  | $ | 32,588 |  |  | $ | 25,806 |
Components of Income Taxes | The components of income taxes for the years ended December 31 are as follows:
|  | 2019 |  |  | 2018 |  |  | 2017 |
Current |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 2,835 |  |  | $ | (904 | ) |  | $ | 4,592 |
Foreign |  |  | 6,170 |  |  |  | 6,247 |  |  |  | 5,998 |
State and local |  |  | 391 |  |  |  | 350 |  |  |  | 126 |
|  |  | 9,396 |  |  |  | 5,693 |  |  |  | 10,716 |
Deferred |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (10 | ) |  |  | 801 |  |  |  | 2,316 |
Foreign |  |  | (1,347 | ) |  |  | (608 | ) |  |  | 12 |
State and local |  |  | 83 |  |  |  | 121 |  |  |  | 108 |
|  |  | (1,274 | ) |  |  | 314 |  |  |  | 2,436 |
Income taxes |  | $ | 8,122 |  |  | $ | 6,007 |  |  | $ | 13,152 |
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:
|  | 2019 |  |  | 2018 |  |  | 2017 |
U. S. federal statutory tax rate |  | 21% |  |  | 21% |  |  | 35% |
Federal tax at statutory rate |  | $ | 6,606 |  |  | $ | 6,843 |  |  | $ | 9,033 |
State and local taxes, net of federal benefit |  |  | 308 |  |  |  | 273 |  |  |  | 82 |
U.S. federal permanent items |  |  | 621 |  |  |  | 240 |  |  |  | (60 | )
Global intangible low-taxed income |  |  | 1,738 |  |  |  | 1,721 |  |  |  | (116 | )
Foreign tax credits |  |  | (1,422 | ) |  |  | (1,707 | ) |  |  | 0 |
Transition tax |  |  | 0 |  |  |  | (1,780 | ) |  |  | 2,592 |
Non-U.S. tax rate variances |  |  | 929 |  |  |  | 1,011 |  |  |  | (1,491 | )
Valuation allowance |  |  | (346 | ) |  |  | (57 | ) |  |  | 88 |
Tax credits |  |  | (464 | ) |  |  | (295 | ) |  |  | (255 | )
Tax act impact, deferred rate |  |  | 0 |  |  |  | (680 | ) |  |  | 3,161 |
Other, net |  |  | 152 |  |  |  | 438 |  |  |  | 118 |
|  | $ | 8,122 |  |  | $ | 6,007 |  |  | $ | 13,152 |
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:
|  | 2019 |  |  | 2018 |
Deferred tax assets: |  |  |  |  |  |  |  |
Accrued compensation and benefits |  | $ | 1,180 |  |  | $ | 1,387 |
Inventory valuation reserves |  |  | 2,384 |  |  |  | 2,256 |
Allowance for doubtful accounts |  |  | 473 |  |  |  | 346 |
Benefit plan reserves |  |  | 7,586 |  |  |  | 7,153 |
Net operating loss carryforwards |  |  | 3,003 |  |  |  | 2,651 |
Other accrued expenses |  |  | 3,012 |  |  |  | 2,830 |
Unrealized foreign exchange |  |  | 718 |  |  |  | 1,217 |
Gross deferred tax assets |  |  | 18,356 |  |  |  | 17,840 |
Valuation allowance |  |  | (3,137 | ) |  |  | (3,495 | )
Net deferred tax assets |  |  | 15,219 |  |  |  | 14,345 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Depreciation and other basis differences |  |  | (6,867 | ) |  |  | (6,855 | )
Intangibles |  |  | (3,742 | ) |  |  | (2,057 | )
Undistributed foreign earnings |  |  | 0 |  |  |  | (172 | )
Other |  |  | (162 | ) |  |  | (72 | )
Deferred tax liabilities |  |  | (10,771 | ) |  |  | (9,156 | )
Net deferred tax assets |  | $ | 4,448 |  |  | $ | 5,189 |
|  | 2019 |  |  | 2018 |
Change in net deferred tax assets: |  |  |  |  |  |  |  |
Deferred income tax expense |  |  |  |  |  |  |  |
Ordinary movement |  | $ | 1,275 |  |  | $ | (993 | )
Deferred tax balances from business acquisition |  |  | (1,883 | ) |  |  | 0 |
Tax impact deferred rate |  |  | 0 |  |  |  | 680 |
Items of other comprehensive income (loss) |  |  | (62 | ) |  |  | (62 | )
Currency translation |  |  | (71 | ) |  |  | (120 | )
Total change in net deferred tax assets |  | $ | (741 | ) |  | $ | (495 | )
Changes in Unrecognized Tax Benefits Excluding Interest and Penalties | The following is a tabular reconciliation of the total amounts of unrecognized tax benefits related to uncertain tax positions, excluding interest and penalties, for the year ended December 31:
|  | 2019 |  |  | 2018 |  |  | 2017 |
Balance at January 1 |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |
Additions for tax positions of current year |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Additions for tax positions of prior years |  |  | 118 |  |  |  | 0 |  |  |  | 0 |
Reductions for tax positions of prior years |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Expiration of statutes of limitations |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Balance at December 31 |  | $ | 118 |  |  | $ | 0 |  |  | $ | 0 |

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