5.	Income Taxes

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities as of December 31 are as follows:


	2013		2012
Deferred tax assets:
Employee benefits	$	1,757	$	1,032
Inventories		5,923		7,161
Goodwill		1,358		1,842
Other		4,438		3,761

Total deferred tax assets		13,476		13,796

Deferred tax liabilities:
Depreciation		54,973		45,056
Foreign earnings		1,816		2,665

Total deferred tax liabilities		56,789		47,721

Net deferred tax liabilities	$	43,313	$	33,925

Foreign earnings in the table above are presented net of foreign tax credits of $5,019 and $4,432 as of December 31, 2013 and 2012, respectively, which are expected to be utilized upon repatriation of the foreign earnings.

Significant components of the provision for income taxes for the years ended December 31 are as follows:


	2013		2012		2011
Current:
Federal	$	27,188	$	37,596	$	57,429
State		2,164		2,268		4,288
Foreign		842		1,581		1,374

Total current		30,194		41,445		63,091
Deferred		10,121		11,212		4,223

	$	40,315	$	52,657	$	67,314

Provision has been made for deferred U.S. income taxes on all foreign earnings based on the Company’s intent to repatriate foreign earnings. The reconciliation of income taxes computed at the U.S. statutory tax rate to the Company’s income tax expense for the years ended December 31 is as follows:


	2013						2012						2011
	Amount			Percent			Amount			Percent			Amount			Percent
U.S. statutory rate	$	43,820			35.0	%	$	55,507			35.0	%	$	69,107			35.0	%
State income taxes, net of federal tax benefit		2,097			1.7			2,199			1.4			3,103			1.6
Mining depletion		(2,751	)		(2.2	)		(2,606	)		(1.6	)		(1,162	)		(0.6	)
Section 199 Manufacturing Benefit and other		(2,851	)		(2.3	)		(2,443	)		(1.6	)		(3,734	)		(1.9	)

	$	40,315			32.2	%	$	52,657			33.2	%	$	67,314			34.1	%

The Company had a recorded reserve of $153 associated with uncertain tax positions as of December 31, 2013 and there were no significant changes to the recorded reserve during 2013. If these uncertain tax positions are recognized, substantially all of this amount would impact the effective tax rate. Related accrued interest and penalties are recorded in income tax expense and are not material.

The Company files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates, the most significant of which are U.S. federal and certain state jurisdictions. The 2010 and subsequent tax years are still subject to examination. Various U.S. state jurisdiction tax years remain open to examination as well though the Company believes assessments, if any, would be immaterial to its consolidated financial statements.