XML 46 R32.htm IDEA: XBRL DOCUMENT v3.2.0.727

Provision For Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Provision For Income Taxes Tables

Summary Of The Provision For Income Taxes

		For the Years Ended December 31,
		2014				2013				2012
Current:
Federal		$	2,142,526			$	2,551,505			$	2,757,332
State and local			819,478				554,174				882,640
Total current			2,962,004				3,105,679				3,639,972
Deferred			(719,778	)			(238,804	)			(434,896	)
Provision for income taxes		$	2,242,226			$	2,866,875			$	3,205,076

Reconciliation Of Provision For Income Taxes At Statutory Rate

		2014								2013								2012
		Amount				Percentage				Amount				Percentage					Amount			Percentage
Federal income tax expense computed at the statutory rate		$	1,427,534				34.0	%		$	2,666,223				34.0	%		$	3,000,457			34.0	%
State and local tax expense, net			214,970				5.1	%			744,974				9.5	%			838,363			9.5	%
U.S. domestic manufacturers’ deduction & other permanent differences			463,646				11.0	%			(455,442	)			(5.8	)%			(427,525	)		(4.9	)%
Additions for tax positions of prior years			215,102				5.1	%			0				0	%			0			0	%
Change in tax rates			(138,008	)			(3.2	)%			0				0	%			0			0	%
Change in tax estimate			58,982				1.4	%			(88,880	)			(1.1	)%			(206,219	)		(2.2	)%
Provision for income taxes		$	2,242,226				53.4	%		$	2,866,875				36.6	%		$	3,205,076			36.4	%

Reconciliation of amount of unrecognized tax benefits

		2014				2013				2012
Balance at January 1		$	—			$	—			$	—
Additions for tax positions of prior years			215,102				—				—
Balance at December 31		$	215,102			$	—			$	—

Schedule Of Deferred Tax Assets And Liabilities

		December 31,
		2014				2013				2012
Non-current deferred tax assets (liabilities) arising from:
Temporary differences -
Accumulated depreciation and amortization		$	(2,075,095	)		$	(2,896,058	)		$	(3,164,716	)
Capital loss carry-forwards			0				52,632				136,198
Total non-current net deferred tax liabilities			(2,075,095	)			(2,843,426	)			(3,028,518	)
Current deferred tax assets arising from:
Capital loss carry-forward			8,620				0				0
Unrealized losses (gain) on investments			127,234				(7,589	)			(41,260	)
Inventory			233,366				307,910				265,072
Allowance for doubtful accounts and discounts			39,120				21,750				10,875
Total current deferred tax assets			408,340				322,071				234,687
Net deferred tax liability		$	(1,666,755	)		$	(2,521,355	)		$	(2,793,831	)

X

- References

No definition available.

+ Details

Name:	lway_ProvisionForIncomeTaxesTablesAbstract
Namespace Prefix:	lway_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 740



-SubTopic 10



-Section 55



-Paragraph 217



-URI http://asc.fasb.org/extlink&oid=32707879&loc=d3e36027-109320



Reference 2: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 740



-SubTopic 10



-Section 50



-Paragraph 15A



-URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration