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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2013
Income Taxes [Abstract] |
Income Tax Provision (Benefit) | The income tax provision (benefit) consists of the following (in thousands):
|  | Year Ended December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Current: |  |  |  |  |  |  |  |  |
Domestic |  | $ | 31,220 |  |  | $ | 17,791 |  |  | $ | 10,887 |
Foreign |  |  | 1,706 |  |  |  | 1,362 |  |  |  | 1,108 |
Total current |  |  | 32,926 |  |  |  | 19,153 |  |  |  | 11,995 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  |  | (1,178 | ) |  |  | 5,909 |  |  |  | (11,886 | )
Foreign |  |  | 171 |  |  |  | (84 | ) |  |  | 12 |
Total deferred |  |  | ( 1,007 | ) |  |  | 5,825 |  |  |  | (11,874 | )
Total income tax provision |  | $ | 31,919 |  |  | $ | 24,978 |  |  | $ | 121 |
Effective Income Tax Rate Reconciliation | Reconciliations between taxes at the U.S. Federal income tax rate and taxes at our effective income tax rate on earnings from continuing operations before income taxes are as follows (in thousands):
|  | Year Ended December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
U.S. Federal income tax rate of 35% |  | $ | 29,737 |  |  | $ | 23,781 |  |  | $ | 22,557 |
Increase (decrease) in tax rate resulting from: |  |  |  |  |  |  |  |  |  |  |  |
State and local income taxes, net of federal income tax benefit |  |  | 2,936 |  |  |  | 2,021 |  |  |  | 2,261 |
Income tax (tax benefits) attributable to foreign income |  |  | (428 | ) |  |  | (852 | ) |  |  | (163 | )
Change in unrecognized tax benefits |  |  | — |  |  |  | — |  |  |  | (454 | )
Other non-deductible items, net |  |  | (806 | ) |  |  | 697 |  |  |  | (2,455 | )
Change in valuation allowance |  |  | 480 |  |  |  | (669 | ) |  |  | (21,625 | )
Provision for income taxes |  | $ | 31,919 |  |  | $ | 24,978 |  |  | $ | 121 |
Components of Net Deferred Tax Assets and Liabilities | The following is a summary of the components of the net deferred tax assets and liabilities recognized in the accompanying consolidated balance sheets (in thousands):
|  | December 31, |
|  | 2013 |  |  | 2012 |
Deferred tax assets: |  |  |  |  |  |
Inventories |  | $ | 16,801 |  |  | $ | 16,115 |
Allowance for customer returns |  |  | 11,622 |  |  |  | 10,660 |
Postretirement benefits |  |  | 2,446 |  |  |  | 2,911 |
Allowance for doubtful accounts |  |  | 2,592 |  |  |  | 2,223 |
Accrued salaries and benefits |  |  | 9,110 |  |  |  | 7,924 |
Net operating loss |  |  | — |  |  |  | 84 |
Capital loss |  |  | 5,999 |  |  |  | 6,007 |
Tax credit carryforwards |  |  | 695 |  |  |  | 1,167 |
Deferred gain on building sale |  |  | 1,713 |  |  |  | 2,123 |
Accrued asbestos liabilities |  |  | 9,780 |  |  |  | 10,358 |
Other |  |  | — |  |  |  | 470 |
|  |  | 60,758 |  |  |  | 60,042 |
Valuation allowance (1) |  |  | (6,694 | ) |  |  | (7,174 | )
Total deferred tax assets |  |  | 54,064 |  |  |  | 52,868 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Depreciation |  |  | 7,583 |  |  |  | 8,328 |
Promotional costs |  |  | 187 |  |  |  | 197 |
Other |  |  | 383 |  |  |  | — |
Total deferred tax liabilities |  |  | 8,153 |  |  |  | 8,525 |
Net deferred tax assets |  | $ | 45,911 |  |  | $ | 44,343 |
| (1) | Current net deferred tax assets are $35.6 million and $33.2 million for 2013 and 2012, respectively. Non-current net deferred tax assets are $10.3 million and $11.1 million for 2013 and 2012, respectively. The tax valuation allowance was allocated to long term deferred tax assets in the amounts of $6.7 million and $7.2 million in 2013 and 2012, respectively. None of the valuation allowance was allocated to current deferred tax assets in 2013 and 2012.
Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
Balance at January 1, 2012 |  | $ | 349 |
Increase based on tax positions taken in the current year |  |  | — |
Decrease based on tax positions taken in the current year |  |  | — |
Balance at December 31, 2012 |  |  | 349 |
Increase based on tax positions taken in the current year |  |  | — |
Decrease based on tax positions taken in the current year |  |  | — |
Balance at December 31, 2013 |  | $ | 349 |

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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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- 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
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