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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Components of Income Tax Expense

The components of income tax expense are:

		2013				2012				2011
Current:
Federal		$	12,285			$	17,448			$	6,070
State			3,007				2,528				1,275
Foreign			1,101				1,027				535
Deferred:
Federal			2,213				(590	)			4,691
State			310				(387	)			584
		$	18,916			$	20,026			$	13,155

Total Income Tax Expense Applying U.S.Federal Income Tax Rate

Total income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 35.0% to income before income tax expense as a result of the following:

		2013				2012				2011
Computed tax expense at statutory federal rates		$	18,678			$	19,911			$	12,328
Increase (decrease) in taxes resulting from:
State taxes, net of federal income tax benefit			1,983				1,947				1,374
Domestic production deduction			(1,142	)			(1,661	)			(826	)
Income tax credits			(724	)			(395	)			(343	)
Other expenses			121				224				622
		$	18,916			$	20,026			$	13,155

Components of Income before Provision

The components of income before provision for income taxes are as follows:

		2013				2012				2011
Domestic		$	46,520			$	53,361			$	33,399
Foreign			7,314				3,491				1,824
		$	53,834			$	56,852			$	35,223

Deferred Tax Assets and Liability

Temporary differences between the financial statement carrying amounts and tax bases of assets and liabilities that give rise to significant portions of the net deferred tax liability at December 31, 2013 and 2012 relate to the following:

		2013				2012
Current:
Inventories		$	4,398			$	3,490
State income taxes			(331	)			(431	)
Vacation pay accrual			648				354
Accrued bonuses			1,791				2,289
Bad debt			169				192
Prepaid expenses			(1,929	)			(1,490	)
Other			1,775				473
Net deferred tax asset			6,521				4,877
Non-Current:
Plant and equipment, principally due to differences in depreciation and capitalized interest			(25,662	)			(21,993	)
Tax credit			14				73
Fair value adjustment			207				460
Other			2,111				2,297
Net deferred tax liability			(23,330	)			(19,163	)
Total net deferred tax liability		$	(16,809	)		$	(14,286	)

Gross Unrecognized Tax Liabilities

The following is a roll-forward of the Company’s total gross unrecognized tax liabilities, not including interest and penalties, for the fiscal year ended December 31, 2013:

		Gross Unrecognized Tax Liabilities
Balance at December 31, 2012		$	282
Additions for tax positions related to the current year			1,290
Additions for tax positions related to the prior year			161
Deletion for tax positions related to the prior year			(41	)
Balance at December 31, 2013		$	1,692

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.

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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 change in unrecognized tax benefits.

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