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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

INCOME TAXES

Schedule of income before income tax, domestic and foreign

​

​	​	​	​	​	​	​	​	​	​
​		2021			2020			2019
United States	​	$	10,947	​	$	31,183	​	$	41,220
Foreign	​		10,819	​		6,914	​		9,165
Total	​	$	21,766	​	$	38,097	​	$	50,385

Schedule of provision for income taxes

​

​	​	​	​	​	​	​	​	​	​
​		2021			2020			2019
Current:		​			​			​
Federal	​	$	1,126	​	$	5,099	​	$	6,422
State	​		343	​		96	​		53
Foreign	​		3,016	​		2,344	​		3,083
​	​		4,485	​		7,539	​		9,558
Deferred:	​			​			​
Federal	​		981	​		734	​		1,599
State	​		13	​		9	​		17
Foreign	​		32	​		(15)	​		100
​	​		1,026	​		728	​		1,716
​	​	$	5,511	​	$	8,267	​	$	11,274

Schedule of effective income tax rate reconciliation

​

​	​	​	​	​	​	​	​
​		2021		2020		2019
Federal statutory tax rate		21.0	%	21.0	%	21.0	%
State taxes, net of federal tax benefit		1.3	%	0.2	%	0.1	%
Excess of foreign tax over US tax on foreign income		3.6	%	2.3	%	2.5	%
Domestic tax deductions and credits		(1.6)	%	(1.0)	%	(0.4)	%
Foreign Derived Intangible Income deduction		—	%	(0.8)	%	(1.1)	%
Other		1.0	%	—	%	0.3	%
Effective tax rate		25.3	%	21.7	%	22.4	%

Schedule of deferred income tax assets and liabilities

​

​	​	​	​	​	​	​
​		2021			2020
Deferred tax assets:		​			​
Allowance for credit losses	​	$	229	​	$	250
Accruals and reserves	​		1,917	​		1,768
Other	​		503	​		218
Total deferred tax assets	​		2,649	​		2,236
Deferred tax liabilities:	​			​	​
Property, plant, and equipment	​		7,811	​		6,375
Other	​		8	​		5
Total deferred tax liabilities	​		7,819	​		6,380
Valuation Allowance	​		—	​		—
Net deferred tax asset/(liability)	​	$	(5,170)	​	$	(4,144)

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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.

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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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