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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision (Benefit)

The income tax provision (benefit) consists of the following (in thousands):

			Year Ended December 31,
			2024						2023						2022
Current:
Domestic			$	19,761					$	15,422					$	16,182
Foreign			11,254						9,224						8,669
Total current			31,015						24,646						24,851
Deferred:
Domestic			(9,536)						(5,769)						1,102
Foreign			(2,094)						(509)						(747)
Total deferred			(11,630)						(6,278)						355
Total income tax provision			$	19,385					$	18,368					$	25,206

Schedule of 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,
			2024						2023						2022
U.S. Federal income tax rate of 21%			$	15,538					$	17,160					$	20,650
Increase (decrease) in tax rate resulting from:
State and local income taxes, net of federal income tax benefit			1,922						2,086						3,118
Change in valuation allowance			770						674						1,068
Income tax (benefit) attributable to foreign income			4,370						377						(53)
Other non-deductible items, net			(3,215)						(1,929)						423
Provision for income taxes			$	19,385					$	18,368					$	25,206

Schedule of 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,
			2024						2023
Deferred tax assets:
Inventories			$	9,087					$	10,493
Allowance for customer returns			17,854						13,083
Accrued asbestos liabilities			24,032						20,758
Accrued salaries and benefits			13,564						11,816
Tax credit and net operating loss carryforwards			5,690						5,968
Allowance for expected credit losses			3,586						3,567
Other			10						17
			73,823						65,702
Valuation allowance			(4,849)						(3,830)
Total deferred tax assets			68,974						61,872
Deferred tax liabilities:
Intangible assets acquired, net of amortization			43,755						12,668
Depreciation			6,669						7,597
Interest rate swap agreement			1,345						990
Other			4,006						84
Total deferred tax liabilities			55,775						21,339
Net deferred tax assets			$	13,199					$	40,533

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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/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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- 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/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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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/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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-Topic 740
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-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

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-Section 50
-Paragraph 12
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