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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2012
INCOME TAXES |
Schedule of provision for income taxes based on income before income taxes | The provision for income taxes is based on income before income taxes as follows (in thousands):
|  | For the year ended December 31, 2012 |  | For the year ended December 31, 2011 |
--- | --- | --- | --- | --- | ---
Domestic |  | $ | 3,725 |  | $ | 2,821 |
Foreign |  |  | 3,773 |  |  | 6,698 |
Income before income taxes |  | $ | 7,498 |  | $ | 9,519 |
Schedule of components of the total provision for income taxes | Components of the total provision for income taxes are as follows (in thousands):
|  | For the year ended December 31, 2012 |  | For the year ended December 31, 2011 |
--- | --- | --- | --- | --- | ---
Current provision: |  |  |  |  |  |  |
Domestic |  | $ | 115 |  | $ | 302 |
Foreign |  |  | 881 |  |  | 1,190 |
Total current provision |  |  | 996 |  |  | 1,492 |
Deferred provision: |  |  |  |  |  |  |
Domestic |  |  | 1,162 |  |  | 984 |
Foreign |  |  | (57 | ) |  | 76 |
Total deferred provision |  |  | 1,105 |  |  | 1,060 |
Provision for income taxes |  | $ | 2,101 |  | $ | 2,552 |
Schedule of differences in the provision for income taxes from the amount determined by applying the federal statutory rate | The provision for income taxes differs from the amount determined by applying the federal statutory rate as follows (in thousands):
|  | For the year ended December 31, 2012 |  | For the year ended December 31, 2011 |
--- | --- | --- | --- | --- | ---
Tax provision, computed at statutory rate |  |  | 34.0 | % |  | 34.0 | %
State tax, net of federal impact |  |  | 3.3 | % |  | 1.7 | %
Permanent item; adjustment to contingent consideration |  |  | — | % |  | (3.9 | )%
Effect of foreign tax rate differences |  |  | (4.4 | )% |  | (4.6 | )%
Foreign tax adjustments |  |  | (1.6 | )% |  | (2.1 | )%
Adjustments to prior year accruals(1) |  |  | (1.9 | )% |  | — | %
Other |  |  | (1.4 | )% |  | 1.7 | %
Provision for income taxes |  |  | 28.0 | % |  | 26.8 | %
(1) Adjustments relate to the resolution of certain prior year income tax related matters.
Schedule of tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities | The tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities are as follows (in thousands):
|  | December 31, 2012 |  | December 31, 2011 |
--- | --- | --- | --- | --- | ---
Current deferred tax assets: |  |  |  |  |  |  |
Allowances and other |  | $ | 591 |  | $ | 587 |
Tax credit carryforwards |  |  | — |  |  | — |
Net operating loss carryforwards |  |  | 98 |  |  | 749 |
Total current deferred tax assets |  |  | 689 |  |  | 1,336 |
Valuation allowance |  |  | (50 | ) |  | (82 | )
Net current deferred tax assets |  | $ | 639 |  | $ | 1,254 |
Noncurrent deferred tax assets: |  |  |  |  |  |  |
Employee benefit plans |  | $ | 1,375 |  | $ | 1,268 |
Net operating loss carryforwards |  |  | — |  |  | — |
Goodwill and Intangibles |  |  | 1,983 |  |  | 2,349 |
Property, plant & equipment |  |  | (188 | ) |  | 50 |
Other |  |  | 933 |  |  | 659 |
Total noncurrent deferred tax assets |  | $ | 4,103 |  | $ | 4,326 |
Deferred tax liabilities: |  |  |  |  |  |  |
Acquired property, plant and equipment and intangible assets |  | $ | 638 |  | $ | 756 |
Other |  |  | 297 |  |  | 217 |
Total deferred tax liabilities |  | $ | 935 |  | $ | 973 |

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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 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/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + 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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- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References No definition available. + Details
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