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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

Components of the provision for income taxes are as follows (in thousands):

			2024						2023						2022
Current:
Federal			$	1,829					$	26					$	(18)
Foreign			1,805						2,835						5,896
State and local			75						88						(27)
			3,709						2,949						5,851
Deferred:
Federal			812						2,844						(3,533)
Foreign			(406)						(451)						80
State and local			67						80						(16)
			473						2,473						(3,469)
Provision for income taxes			$	4,182					$	5,422					$	2,382

Reconciliation of Income Tax Provision

A reconciliation of the income tax provision based on the federal statutory income tax rate to the Company's income tax provision for the years ended December 31 is as follows (in thousands):

			2024						2023						2022
Provision at United States federal statutory rate			$	3,671					$	5,407					$	3,063
U.S. federal valuation allowance			—						—						(2,363)
State and Local tax expense			126						(6)						(42)
Effect of foreign taxes			534						143						1,519
Foreign Direct Investment			(451)						(153)						—
Permanent Compensation Differences			429						(94)						228
Other			(127)						125						(23)
Provision for income taxes			$	4,182					$	5,422					$	2,382

Schedule of Deferred Tax Assets

Deferred tax assets consist of the following at December 31:

			2024						2023
U.S. federal net operating loss carryforwards			$	—					$	442
U.S. local operating loss carryforwards			1,273						1,553
Interest limitation carryforwards			—						1,162
Accrued liabilities			586						595
Accounts receivable			53						32
Inventory			220						211
Property, plant, and equipment			(5,303)						(6,065)
Post retirement benefits			1,034						1,024
Goodwill and finite-lived assets, net			2,112						2,151
Other, net			1,708						795
Total deferred tax asset			1,683						1,900
Valuation allowance for deferred tax assets			(1,265)						(1,530)
Total deferred tax asset, net			$	418					$	370

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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

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
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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.

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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.

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