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Income Taxes | 12 Months Ended
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Dec. 31, 2013
Notes to Financial Statements [Abstract] |
Income Taxes | NOTE F — INCOME TAXES The income tax provision (benefit) attributable to continuing operations for the years ended December 31, 2013, 2012, and 2011, consists of the following:
|  | Year Ended December 31,
|  | 2013 |  | 2012 |  | 2011
|  | (In Thousands)
Current |  |  |  |  |  |  |  |  |
Federal |  | $ | 530 |  |  | $ | 1,362 |  |  | $ | (1,661 | )
State |  | (225 | ) |  | 683 |  |  | 1,294 |
Foreign |  | 6,065 |  |  | 9,396 |  |  | 6,875 |
|  | 6,370 |  |  | 11,441 |  |  | 6,508 |
Deferred |  |  |  |  |  |  |  |  |
Federal |  | (6,685 | ) |  | (361 | ) |  | (7,053 | )
State |  | (1,121 | ) |  | (495 | ) |  | (2,258 | )
Foreign |  | (2,018 | ) |  | (1,156 | ) |  | 3,554 |
|  | (9,824 | ) |  | (2,012 | ) |  | (5,757 | )
Total tax provision (benefit) |  | $ | (3,454 | ) |  | $ | 9,429 |  |  | $ | 751 |
A reconciliation of the provision (benefit) for income taxes attributable to continuing operations, computed by applying the federal statutory rate for the years ended December 31, 2013, 2012, and 2011, to income before income taxes and the reported income taxes, is as follows:
|  | Year Ended December 31,
|  | 2013 |  | 2012 |  | 2011
|  | (In Thousands)
Income tax provision (benefit) computed at statutory federal income tax rates |  | $ | (45 | ) |  | $ | 9,864 |  |  | $ | 2,182 |
State income taxes (net of federal benefit) |  | (875 | ) |  | 122 |  |  | (627 | )
Nondeductible meals and entertainment |  | 1,382 |  |  | 1,460 |  |  | 1,046 |
Impact of international operations |  | (3,538 | ) |  | (2,377 | ) |  | (1,229 | )
Other |  | (378 | ) |  | 360 |  |  | (621 | )
Total tax provision (benefit) |  | $ | (3,454 | ) |  | $ | 9,429 |  |  | $ | 751 |
The provision (benefit) for income taxes includes amounts related to the anticipated repatriation of certain earnings of our non-U.S. subsidiaries. Undistributed earnings above the amounts upon which taxes have been provided, which was $48.9 million at December 31, 2013, are intended to be permanently invested. It is not practicable to determine the amount of applicable taxes that would be incurred if any such earnings were repatriated. Income (loss) before taxes and discontinued operations includes the following components:
|  | Year Ended December 31,
|  | 2013 |  | 2012 |  | 2011
|  | (In Thousands)
Domestic |  | $ | (14,322 | ) |  | $ | 2,206 |  |  | $ | (9,167 | )
International |  | 14,194 |  |  | 25,977 |  |  | 15,400 |
Total |  | $ | (128 | ) |  | $ | 28,183 |  |  | $ | 6,233 |
A reconciliation of the beginning and ending amount of our gross unrecognized tax benefit liability is as follows:
|  | Year Ended December 31,
|  | 2013 |  | 2012 |  | 2011
|  | (In Thousands)
Gross unrecognized tax benefits at beginning of period |  | $ | 2,327 |  |  | $ | 1,552 |  |  | $ | 1,849 |
Additions related to acquisitions |  | — |  |  | 742 |  |  | — |
Increases in tax positions for prior years |  | — |  |  | — |  |  | — |
Decreases in tax positions for prior years |  | (118 | ) |  | — |  |  | — |
Increases in tax positions for current year |  | 202 |  |  | 313 |  |  | — |
Settlements |  | — |  |  | — |  |  | — |
Lapse in statute of limitations |  | (393 | ) |  | (280 | ) |  | (297 | )
Gross unrecognized tax benefits at end of period |  | $ | 2,018 |  |  | $ | 2,327 |  |  | $ | 1,552 |
We recognize interest and penalties related to uncertain tax positions in income tax expense. During the years ended December 31, 2013, 2012, and 2011, we recognized $(0.2) million, $0.3 million, and $0.3 million, respectively, of interest and penalties to the provision for income tax. As of December 31, 2013 and 2012, we had $2.1 million and $2.3 million, respectively, of accrued potential interest and penalties associated with these uncertain tax positions. The total amount of unrecognized tax benefits that would affect our effective tax rate if recognized is $2.1 million and $2.6 million as of December 31, 2013 and 2012, respectively. We do not expect a significant change to the unrecognized tax benefits during the next twelve months. We file tax returns in the U.S. and in various state, local, and non-U.S. jurisdictions. The following table summarizes the earliest tax years that remain subject to examination by taxing authorities in any major jurisdiction in which we operate:
Jurisdiction | Earliest Open Tax Period
United States – Federal | 2010
United States – State and Local | 2002
Non-U.S. jurisdictions | 2007
We use the liability method for reporting income taxes, under which current and deferred tax assets and liabilities are recorded in accordance with enacted tax laws and rates. Under this method, at the end of each period, the amounts of deferred tax assets and liabilities are determined using the tax rate expected to be in effect when the taxes are actually paid or recovered. We will establish a valuation allowance to reduce the deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized. While we have considered future taxable income and ongoing tax planning strategies in assessing the need for the valuation allowance, there can be no guarantee that we will be able to realize all of our deferred tax assets. Significant components of our deferred tax assets and liabilities as of December 31, 2013 and 2012, are as follows:
|  | December 31,
|  | 2013 |  | 2012
|  | (In Thousands)
Net operating losses |  | $ | 51,130 |  |  | $ | 20,888 |
Foreign tax credits and alternative minimum tax credits |  | 10,233 |  |  | 6,976 |
Accruals |  | 30,057 |  |  | 46,259 |
All other |  | 2,856 |  |  | 2,130 |
Total deferred tax assets |  | 94,276 |  |  | 76,253 |
Valuation allowance |  | (3,747 | ) |  | (4,048 | )
Net deferred tax assets |  | $ | 90,529 |  |  | $ | 72,205 |
|  | December 31,
|  | 2013 |  | 2012
|  | (In Thousands)
Excess book over tax basis in property, plant, and equipment |  | $ | 85,035 |  |  | $ | 78,614 |
All other |  | 8,414 |  |  | 7,506 |
Total deferred tax liability |  | 93,449 |  |  | 86,120 |
Net deferred tax liability |  | $ | 2,920 |  |  | $ | 13,915 |
The change in the valuation allowance during 2013 primarily relates to the utilization and expiration of certain state net operating losses that were previously fully valued. The increase (decrease) in the valuation allowance during the years ended December 31, 2013, 2012, and 2011 were ($0.3) million, ($0.7) million, and ($2.4) million, respectively. We believe the ability to generate sufficient taxable income may not allow us to realize all the tax benefits of the deferred tax assets within the allowable carryforward period. Therefore, an appropriate valuation allowance has been provided. At December 31, 2013, we had approximately $242.3 million of federal, foreign and state net operating loss carryforwards. In those countries and states in which net operating losses are subject to an expiration period, our loss carryforwards, if not utilized, will expire at various dates from 2014 through 2033. At December 31, 2013, we had $9.4 million of foreign tax credits available to offset future payment of federal income taxes. The foreign tax credits expire in varying amounts from 2020 through 2023.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: 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 Reference 5: 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 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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