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Income Taxes
 12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Income Taxes

10.       Income Taxes

 

The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal and state income tax examinations by tax authorities for years before 2013.

 

The federal and state income tax provision consisted of the following:

 

Year ended December 31,  2016   2015   2014 
   Current   Deferred   Current   Deferred   Current   Deferred 
Federal  $31,393   $10,181   $31,382   $(2,774)  $25,797   $(10,429)
State   5,678    1,197    5,849    (483)   5,019    (1,775)
   $37,071   $11,378   $37,231   $(3,257)  $30,816   $(12,204)

 

The effective income tax rate varied from the statutory federal income tax rate as follows:

 

Year ended December 31,  2016   2015   2014 
Statutory federal income tax rate   35.0%   35.0%   35.0%
State income taxes, net of federal tax benefit   3.3    3.6    3.7 
Domestic production activities deduction   (2.3)   (3.2)   (4.6)
Other items   (0.4)   —    (1.6)
Effective income tax rate   35.6%   35.4%   32.5%

 

Significant components of the Company’s deferred tax assets and liabilities are as follows:

 

December 31,  2016   2015 
Deferred tax assets          
Product Liability  $655   $263 
Employee compensation and benefits   3,627    3,822 
Allowances for doubtful accounts and discounts   3,813    3,454 
Inventories   981    886 
Stock-based compensation   2,527    5,410 
Other   1,533    1,623 
Total deferred tax assets  13,136   15,458 
Deferred tax liabilities:          
Depreciation   12,457    12,946 
Other   345    343 
Total deferred tax liabilities   12,802    13,289 
Net deferred tax assets  $334   $2,169 

 

The Company made income tax payments of approximately $43.0 million, $27.5 million, and $34.0 million, during 2016, 2015, and 2014, respectively. The Company expects to realize its deferred tax assets through tax deductions against future taxable income or carry back against taxes previously paid.

 

The Company does not believe it has included any “uncertain tax positions” in its federal income tax return or any of the state income tax returns it is currently filing. The Company has made an evaluation of the potential impact of additional state taxes being assessed by jurisdictions in which the Company does not currently consider itself liable. The Company does not anticipate that such additional taxes, if any, would result in a material change to its financial position.