Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012


(In Thousands)		2012			2011			2010
Income from continuing operations
before income taxes:
Domestic	$	35,488		$	29,491		$	30,430
Foreign		26,016			9,298			10,060
Total	$	61,504		$	38,789		$	40,490
Current income taxes:
Federal	$	10,905		$	2,958		$	14,329
State		796			639			1,409
Foreign		7,372			4,500			4,308
Total		19,073			8,097			20,046
Deferred income taxes:
Federal		1,212			3,243			(6,225	)
State		163			(211	)		(771	)
Foreign		(2,129	)		(885	)		599
Total		(754	)		2,147			(6,397	)
Total income taxes	$	18,319		$	10,244		$	13,649


	Percent of Income Before Income Taxes for Continuing Operations
	2012		2011		2010
Income tax expense at federal statutory rate	35.0		35.0		35.0
Valuation allowance for capital loss carry-forwards	1.9		.9		.5
State taxes, net of federal income tax benefit	1.1		1.7		.9
Unremitted earnings from foreign operations	.6		1.8		1.3
Non-deductible expenses	.3		.8		.3
Non-deductible acquisition expenses	-		3.5		-
Write-off of tax receivable from indemnification	-		-		1.8
Research and development tax credit	-		(1.0	)	(.8	)
Deduction for divestiture of subsidiary stock	-		(15.3	)	-
Valuation allowance for foreign operating loss carry-forwards	(.1	)	1.4		1.3
Reversal of income tax contingency accruals and tax settlements	(.5	)	.3		.6
Changes in estimates related to prior year tax provision	(.5	)	(.1	)	(4.1	)
Domestic Production Activities Deduction	(.6	)	-		(1.1	)
Foreign rate differences	(.6	)	(.7	)	(1.8	)
Tax incentive	(7.0	)	(1.8	)	-
Other	.2		(.1	)	(.2	)
Effective income tax rate	29.8		26.4		33.7


(In Thousands)		2012		2011
Deferred tax liabilities:
Amortization of goodwill	$	47,956	$	48,407
Depreciation		34,110		40,754
Foreign currency translation gain adjustment		8,795		8,638
Derivative financial instruments		568		-
Total deferred tax liabilities		91,429		97,799
Deferred tax assets:
Pensions		30,488		21,169
Employee benefits		10,532		9,841
Excess capital losses and book/tax basis differences
on investments		4,923		5,514
Asset write-offs, divestitures and environmental accruals		3,234		3,177
Inventory		2,086		2,439
Tax benefit on state and foreign NOL and credit
carryforwards		1,676		1,898
Allowance for doubtful accounts and sales returns		756		919
Timing adjustment for unrecognized tax benefits on
uncertain tax positions, including portion relating to
interest and penalties		236		360
Derivative financial instruments		-		249
Other		974		1,024
Deferred tax assets before valuation allowance		54,905		46,590
Less: Valuation allowance		18,635		12,427
Total deferred tax assets		36,270		34,163
Net deferred tax liability	$	55,159	$	63,636
Included in the balance sheet:
Noncurrent deferred tax liabilities in excess of assets	$	60,773	$	70,769
Current deferred tax assets in excess of liabilities		5,614		7,133
Net deferred tax liability	$	55,159	$	63,636


		Years Ended December 31,
(In Thousands)		2012			2011			2010
Balance at beginning of period	$	1,025		$	1,065		$	996
Increase (decrease) due to tax
positions taken in:
Current period		432			185			184
Prior period		(21	)		10			493
Increase (decrease) due to settlements
with taxing authorities		(398	)		-			(375	)
Reductions due to lapse of statute
of limitations		(128	)		(235	)		(233	)
Balance at end of period	$	910		$	1,025		$	1,065


	Years Ended December 31,
(In Thousands)		2012			2011			2010
Gross unrecognized tax benefits on uncertain tax
positions (reflected in current income tax and other
noncurrent liability accounts in the balance sheet)	$	910		$	1,025		$	1,065
Deferred income tax assets related to unrecognized
tax benefits on uncertain tax positions (reflected in
deferred income tax accounts in the balance sheet)		(212	)		(219	)		(234	)
Net unrecognized tax benefits on uncertain tax
positions, which would impact the effective tax rate if
recognized		698			806			831
Interest and penalties accrued on deductions taken
relating to uncertain tax positions (approximately $(300),
$200 and $(400) reflected in income tax expense in the
income statement in 2012, 2011 and 2010, respectively,
with the balance shown in current income tax and other
noncurrent liability accounts in the balance sheet)		60			373			125
Related deferred income tax assets recognized on
interest and penalties		(23	)		(141	)		(46	)
Interest and penalties accrued on uncertain tax
positions net of related deferred income tax benefits,
which would impact the effective tax rate if
recognized		37			232			79
Total net unrecognized tax benefits on uncertain tax
positions reflected in the balance sheet, which would
impact the effective tax rate if recognized	$	735		$	1,038		$	910