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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2012
Income Tax Disclosure [Abstract] |
Components of provision for income taxes | Components of the provision for income taxes are as follows:
| 2012 |  | 2011
Current: |  |  |
Federal - US | $ | 3,633,000 |  |  | $ | 4,793,000 |
Federal - Foreign | 227,000 |  |  | 242,000 |
State and local | 96,000 |  |  | 117,000 |
| 3,956,000 |  |  | 5,152,000 |
Deferred: |  |  |
Federal | 10,000 |  |  | 566,000 |
State and local | — |  |  | 4,000 |
| 10,000 |  |  | 570,000 |
Provision for income taxes | $ | 3,966,000 |  |  | $ | 5,722,000 |
Reconciliation of income tax provision | A reconciliation of the income tax provision based on the federal statutory income tax rate of 34% to the Company's income tax provision for the years ended December 31 is as follows:
| 2012 |  | 2011
Provision at federal statutory rate - US | $ | 4,133,000 |  |  | $ | 5,525,000 |
Effect of Mexican income tax penalties, interest and surcharges | — |  |  | 89,000 |
Effect of foreign taxes | (169,000 | ) |  | 84,000 |
Other | 2,000 |  |  | 24,000 |
Provision for income taxes | $ | 3,966,000 |  |  | $ | 5,722,000 |
Components of deferred tax assets | Deferred tax assets consist of the following at December 31:
| 2012 |  | 2011
Current asset (liability): |  |  |
Accrued liabilities | $ | 661,000 |  |  | $ | 687,000 |
Accounts receivable | 446,000 |  |  | 545,000 |
Inventory | 678,000 |  |  | 704,000 |
Other, net | (87,000 | ) |  | (93,000 | )
Total current asset | 1,698,000 |  |  | 1,843,000 |
Non-current asset (liability): |  |  |
Property, plant, and equipment | (2,080,000 | ) |  | (2,197,000 | )
Post retirement benefits | 3,662,000 |  |  | 3,459,000 |
Interest rate swap | 72,000 |  |  | 112,000 |
Other, net | (188,000 | ) |  | (329,000 | )
Total non-current asset | 1,466,000 |  |  | 1,045,000 |
Total deferred tax asset - net | $ | 3,164,000 |  |  | $ | 2,888,000 |

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- 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
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- 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
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- 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
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