v3.6.0.2

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

Income tax expense is composed of the following:

		Year Ended December 31,
		2016				2015				2014
		(Thousands of dollars)
Current
Federal		$	—			$	—			$	—
State			409				284				307
Foreign			1,374				3,159				4,352
Deferred – principally Federal			(2,252	)			12,889				15,768
Total		$	(469	)		$	16,332			$	20,427

Schedule of Income Tax Expense as Percentage of Pre-Tax Earnings

Income tax expense as a percentage of pre-tax earnings varies from the effective Federal statutory rate of 35% as a result of the following:

		Year Ended								Year Ended								Year Ended
		December 31, 2016								December 31, 2015								December 31, 2014
		(Thousands of dollars, except percentage amounts)
		Amount				Tax Rate %				Amount				Tax Rate %				Amount				Tax Rate %
Income taxes at statutory rate		$	(9,502	)			35			$	15,140				35			$	18,590				35
Increase (decrease) in taxes resulting from:
Valuation allowance on foreign tax credits			8,991				(33	)			—				—				113				—
Valuation allowance on state net operating loss carryforwards			5,028				(19	)			—				—				—				—
Valuation allowance reversal–investment in foreign entity			—				—				(456	)			(1	)			—				—
Change in tax rate on deferred items			(4,772	)			18				1,078				3				—				—
State income taxes, net of federal benefit			(1,384	)			5				146				—				916				2
Other items – net			1,170				(4	)			424				1				808				1
Total		$	(469	)			2			$	16,332				38			$	20,427				38

Schedule of Tax Effects of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of significant items comprising our net deferred tax balance at December 31 are as follows:

		2016				2015
		(Thousands of dollars)
Deferred tax assets:
Deferred compensation		$	937			$	946
Foreign tax credits			21,492				20,118
Vacation and bonus accrual			1,674				1,952
Inventory valuation			7,655				6,808
Rental accrual			1,416				1,691
Hurricane relief credit			1,255				1,255
Stock-based compensation			2,202				3,598
Other			3,115				3,593
Net operating losses			89,256				61,611
Total deferred tax assets			129,002				101,572
Valuation allowance – state NOL carryforwards			(5,318	)			(290	)
Valuation allowance – tax credit carryforwards			(11,039	)			(2,047	)
Total deferred tax assets, net			112,645				99,235
Deferred tax liabilities:
Tax depreciation in excess of book depreciation			(253,560	)			(242,501	)
Total deferred tax liabilities			(253,560	)			(242,501	)
Net deferred tax liabilities		$	(140,915	)		$	(143,266	)
Current deferred tax assets		$	10,798			$	10,379
Deferred tax liability – long-term			(151,713	)			(153,645	)
Net deferred tax liabilities		$	(140,915	)		$	(143,266	)

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

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.

+ 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

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=65882285&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=65882285&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration