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Income taxes (Tables)

12 Months Ended

Dec. 31, 2013

Components of Pre-tax Income and Comprehensive Provision for Income Taxes

The provision for income taxes attributable to continuing operations, the difference between such provision for income taxes and the amount that would be expected using the U.S. federal statutory income tax rate of 35%, and the comprehensive provision for income taxes are presented below.  All of our pre-tax income attributable to continuing operations relates to operations in the United States.

		Years ended December 31,
		2011				2012				2013
		(In thousands)
Provision for income taxes:
Currently payable		$	2,677			$	1,633			$	2,310
Deferred income tax expense (benefit)			(133	)			(218	)			916
Total		$	2,544			$	1,415			$	3,226
Expected tax expense, at the U.S. federal statutory income tax rate of 35%		$	2,117			$	1,729			$	3,234
State income taxes and other, net			337				173				294
Tax credits			(251	)			(170	)			(200	)
Valuation allowance			341				(317	)			(102	)
Total		$	2,544			$	1,415			$	3,226
Comprehensive provision for income tax allocable to:
Income from continuing operations		$	2,544			$	1,415			$	3,226
Discontinued operations			4,876				5,397				-
Total		$	7,420			$	6,812			$	3,226

Components of Net Deferred Tax Assets (Liabilities)

The components of net deferred tax assets (liabilities) are summarized below.

		December 31,
		2012				2013
		(In thousands)
Tax effect of temporary differences related to:
Inventories		$	953			$	932
Property and equipment			(3,775	)			(4,348	)
Accrued liabilities and other deductible differences			304				63
Accrued employee benefits			1,484				1,513
Tax loss and credit carryforwards			130				28
Goodwill			(2,374	)			(2,559	)
Other taxable differences			(87	)			(12	)
Valuation allowance			(126	)			(24	)
Total		$	(3,491	)		$	(4,407	)
Net current deferred tax assets			2,691				2,493
Net noncurrent deferred tax liabilities			(6,182	)			(6,900	)
Total		$	(3,491	)		$	(4,407	)

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

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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

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