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Note 9 - Income Taxes | 12 Months Ended
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Dec. 31, 2012
Notes |
Note 9 - Income Taxes | Note 9 – Income Taxes Deferred tax assets (liabilities) consist of the following temporary differences:
|  |  | December 31,
|  |  | 2012 |  |  | 2011
|  |  | Current |  |  | Long-term |  |  | Current |  |  | Long-term
Inventory write-downs and differences due to UNICAP |  | $ | 75 |  | $ | - |  | $ | 76 |  | $ | -
Allowance for doubtful accounts |  |  | 22 |  |  | - |  |  | 22 |  |  | -
Accrued liabilities and reserves |  |  | 122 |  |  | - |  |  | 127 |  |  | -
Other - foreign |  |  | 119 |  |  | (86) |  |  | 108 |  |  | (75)
Depreciation and amortization |  |  | - |  |  | (8,687) |  |  | - |  |  | (9,285)
Unrealized investment loss |  |  | 113 |  |  | - |  |  | - |  |  | 123
Deferred income taxes, net |  | $ | 451 |  | $ | (8,773) |  | $ | 333 |  | $ | (9,237)
The components of income tax expense are as follows:
|  | Years ended December 31,
|  | 2012 |  |  | 2011 |  |  | 2010
Current | $ | 4,960 |  | $ | 4,287 |  | $ | 3,022
Deferred |  | (592) |  |  | (621) |  |  | 4
Total | $ | 4,368 |  | $ | 3,666 |  | $ | 3,026
Income tax expense differed from amounts computed by applying the statutory federal rate to pretax income as follows:
|  | Years ended December 31,
|  | 2012 |  |  | 2011 |  |  | 2010
Federal income tax expense at the statutory rate | $ | 2,741 |  | $ | 2,650 |  | $ | 2,914
State income taxes |  | 266 |  |  | 257 |  |  | 283
Foreign income taxes (blended rate) |  | 1,603 |  |  | 877 |  |  | 74
ETI, manufacturing deduction and tax credits |  | (266) |  |  | (270) |  |  | (275)
Other |  | 24 |  |  | 152 |  |  | 30
Total | $ | 4,368 |  | $ | 3,666 |  | $ | 3,026
The domestic and foreign components of income before income tax expense were as follows:
|  | Years ended December 31,
|  | 2012 |  |  | 2011 |  |  | 2010
Domestic | $ | 7,989 |  | $ | 7,795 |  | $ | 8,571
Foreign |  | 6,548 |  |  | 3,285 |  |  | 469
Total | $ | 14,537 |  | $ | 11,080 |  | $ | 9,041

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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 Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. 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=6881521&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 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: 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 7: 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 8: 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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