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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense from continuing operations for the years ended December 31, 2016, 2015, and 2014 are as follows:




		2016			2015			2014
Current
Federal		$	11,605		$	9,814		$	10,282
State			511			396			96
Total current			12,116			10,210			10,378

Deferred
Federal			(3,078)			(125)			176
State			253			39			206
Foreign			(4)			(20)			(96)
Total deferred			(2,829)			(106)			286

Total income tax expense from continuing operations		$	9,287		$	10,104		$	10,664



Schedule Of Components Of Total Income Tax Provision

The total tax provision for the years ended December 31, 2016, 2015, and 2014 was $9.0 million, $9.9 million, $4.9 million, respectively.  Those amounts have been allocated to the following financial statement items:




		2016			2015			2014

Income from continuing operations		$	9,287		$	10,104		$	10,664
Income/(loss) from discontinued operations			-			387			(5,302)
Stockholders' equity, unrealized gain loss on investment securities & foreign currency			(74)			(357)			(182)
Additional paid in capital, share-based compensation tax benefit			(230)			(247)			(275)

Total income tax expense		$	8,983		$	9,887		$	4,905



Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) consisted of the following at December 31,




		2016			2015			2014

Reserves on inventory and sales		$	446		$	199		$	291
Credit and loss carryforwards			527			735			699
Stock compensation			1,333			1,149			1,283
Accrued expenses and deferred costs			638			1,068			3,170
Inventory capitalization			252			49			142
Sales tax accrual			-			-			8
Unrealized gain on investments			160			85			-
Total deferred tax assets			3,356			3,285			5,593

Unrealized loss on investments			-			-			(294)
Prepaid expenses			(659)			(755)			(779)
Depreciation			(3,453)			(6,189)			(6,285)
Foreign currency			(23)			(23)			-
Total deferred tax liabilities			(4,135)			(6,967)			(7,358)

Net deferred tax liabilities		$	(779)		$	(3,682)		$	(1,765)



Schedule of Effective Income Tax Rate Reconciliation

The differences between the United States federal statutory tax rate and the Company's effective tax rate for the years ended December 31, 2016, 2015, and 2014 are as follows:




		2016					2015					2014
Statutory federal tax		$	9,493		35.0%		$	10,381		35.0%		$	11,093		35.0%
State income taxes, net of federal benefit			797		2.9%			414		1.4%			314		1.0%
Foreign Taxes			3		0.0%			15		0.1%			73		0.2%
Domestic manufacturer deduction			(920)		-3.4%			(824)		-2.8%			(811)		-2.6%
Other permanent differences			41		0.2%			4		0.0%			200		0.6%
Research and development and jobs credits			(163)		-0.6%			(247)		-0.8%			(203)		-0.6%
Other state income tax benefits			-		0.0%			114		0.4%			(113)		-0.4%
Other			36		0.1%			247		0.8%			111		0.4%
		$	9,287		34.2%		$	10,104		34.1%		$	10,664		33.6%



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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

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=65882285&loc=d3e32639-109319

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319

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