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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Income tax expenses benefit
Income before income taxes and income tax expense (benefit) are comprised of the following:
(Thousands)
 
2017
 
2016
 
2015
Income before income taxes:
 
 
 
 
 
 
Domestic
 
$
28,327


$
13,934

 
$
31,748

Foreign
 
8,069


11,381

 
11,070

Total income before income taxes
 
$
36,396

 
$
25,315

 
$
42,818

Income tax expense:
 
 
 
 
 
 
Current income tax expense:
 
 
 
 
 
 
Domestic
 
$
1,912


$
6,505

 
$
3,556

Foreign
 
2,777


2,080

 
2,736

Total current
 
$
4,689

 
$
8,585

 
$
6,292

Deferred income tax expense (benefit):
 
 
 
 
 
 
Domestic
 
$
19,935


$
(8,842
)
 
$
4,565

Foreign
 
321


(168
)
 
(197
)
Total deferred
 
$
20,256

 
$
(9,010
)
 
$
4,368

Total income tax expense (benefit)
 
$
24,945

 
$
(425
)
 
$
10,660


Effective income tax rate reconciliation
A reconciliation of the U.S. federal statutory income tax rate to the Company's effective income tax rate is as follows:
 
 
2017
 
2016
 
2015
U.S. federal statutory rate
 
35.0
 %

35.0
 %
 
35.0
 %
State and local income taxes, net of federal tax effect
 
2.3


(0.4
)
 
1.7

Effect of excess of percentage depletion over cost depletion
 
(10.0
)

(10.6
)
 
(7.1
)
Manufacturing production deduction
 
(0.8
)

(3.3
)
 
(0.9
)
Foreign rate differential
 
(3.4
)
 
(5.9
)
 
(4.2
)
Tax Cuts and Jobs Act impact
 
47.1

 

 

Research and development tax credit
 
(2.6
)
 
(6.6
)
 
(1.6
)
Foreign tax credit
 
(1.1
)
 
(28.1
)
 
(4.8
)
Foreign repatriation
 
1.3

 
13.7

 
5.9

Incremental fixed asset basis
 
(3.4
)
 

 

Adjustment to unrecognized tax benefits
 
2.8


3.2

 
(1.1
)
Stock compensation - excess tax benefits
 
(1.9
)


 

Valuation allowance
 
2.4

 
0.1

 
(0.9
)
Other items
 
0.8


1.2

 
2.9

Effective tax rate
 
68.5
 %
 
(1.7
)%
 
24.9
 %
Deferred tax assets and liabilities
Deferred tax assets and (liabilities) recorded in the Consolidated Balance Sheets consist of the following:
 
 
December 31,
(Thousands)
 
2017
 
2016
Asset (liability)
 
 
 
 
Post-employment benefits other than pensions
 
$
2,787

 
$
4,808

Other reserves
 
4,223

 
9,333

Deferred compensation
 
5,054

 
10,243

Environmental reserves
 
1,452

 
2,231

Inventory
 
4,636

 
5,876

Pensions
 
14,307

 
23,540

Alternative minimum tax credit
 

 
1,390

Net operating loss and credit carryforwards
 
6,374

 
5,607

Research and development tax credit carryforward
 
2,466

 
627

Foreign tax credit carryforward
 
9,481

 
4,545

Subtotal
 
50,780

 
68,200

Valuation allowance
 
(16,246
)
 
(3,990
)
Total deferred tax assets
 
34,534

 
64,210

Depreciation
 
(10,250
)
 
(13,064
)
Amortization
 
(2,900
)
 
(5,073
)
Capitalized interest expense
 
(112
)
 
(242
)
Mine development
 
(3,621
)
 
(6,683
)
Derivative instruments and hedging activities
 
(817
)
 
(13
)
Total deferred tax liabilities
 
(17,700
)
 
(25,075
)
Net deferred tax asset
 
$
16,834

 
$
39,135

Reconciliation of unrecognized tax benefits
A reconciliation of the Company’s unrecognized tax benefits for the year-to-date periods ending December 31, 2017 and 2016 is as follows:
(Thousands)
 
2017
 
2016
Balance at January 1
 
$
2,048

 
$
1,285

Additions to tax provisions related to the current year
 
163

 
35

Additions to tax positions related to prior years
 
1,210

 
878

Reduction to tax positions related to prior years
 
(121
)
 

Lapses on statutes of limitations
 
(356
)
 
(150
)
Balance at December 31
 
$
2,944

 
$
2,048