Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Components Of Income Before Income Taxes

(THOUSANDS OF DOLLARS)		2011		2010		2009
U.S.	$	5,610	$	2,156	$	(3,356	)
Non-U.S.		5,539		5,694		3,271
	$	11,149	$	7,850	$	(85	)

Components Of Provision For Income Taxes

(THOUSANDS OF DOLLARS)			2011			2010			2009
Currently Payable (Receivable):
Federal		$	(1,185	)	$	1,233		$	(879	)
State			179			214			(182	)
Foreign			921			1,094			1,015
			(85	)		2,541			(46	)
Deferred:
Federal			2,939			(797	)		(1,562	)
State			(10	)		-			29
Foreign			(5	)		(102	)		(65	)
			2,924			(899	)		(1,598	)
	Total	$	2,839		$	1,642		$	(1,644	)

Reconciliation Of Income Taxes Computed At Statutory Federal Income Tax Rate To Provision For Income Taxes From Operations

(THOUSANDS OF DOLLARS)		2011			2010			2009
Statutory Federal income tax provision	$	3,902		$	2,747		$	(29	)
State income tax expense, less Federal tax benefit		234			134			(118	)
Foreign tax rate differential		(1,023	)		(1,001	)		(298	)
Adjustment related to uncertain tax benefits		(16	)		(223	)		(367	)
Settlement of items subject to audit		-			-			(818	)
Miscellaneous		(258	)		(15	)		(14	)
Income Tax Provision (Benefit)	$	2,839		$	1,642		$	(1,644	)

Schedule Of Deferred Tax Assets And Deferred Tax Liabilities

(THOUSANDS OF DOLLARS)		2011			2010
Current Deferred Tax Assets:
Additional costs inventoried for tax purposes and
inventory adjustments not deductible for tax purposes	$	1,077		$	2,592
Excess benefit plan		1,005			889
Accrued pension costs		689			668
Net operating loss carryforward		1,315			-
Other		1,548			1,466
		5,634			5,615
Less Valuation Allowance		(1,428	)		(1,159	)
Current Deferred Tax Assets	$	4,206		$	4,456

(THOUSANDS OF DOLLARS)		2011			2010
Long-Term Deferred Tax Assets and Liabilities:
Assets:
Intangible assets	$	212		$	682
Accrued warranty costs		733			773
Foreign tax credit carryforward		1,185			1,682
Net operating loss carryforward		3,047			2,665
Accrued pension costs		7,662			6,427
Deferred gain on sale of real estate		1,105			1,329
Other		1,507			1,584
		15,451			15,142
Less Valuation Allowance		(3,487	)		(3,624	)
Long-Term Deferred Tax Assets	$	11,964		$	11,518
Liabilities:
Property, plant and equipment, principally due to
differences in depreciation		(849	)		(200	)
Long-Term Deferred Tax Liabilities		(849	)		(200	)
Net Long-Term Deferred Tax Asset	$	11,115		$	11,318
Net Deferred Tax Asset	$	15,321		$	15,774

Tabular Reconciliation Of Beginning And Ending Balances Of Unrecognized Tax Benefits

(THOUSANDS OF DOLLARS)		2011			2010			2009
Beginning of Year	$	376		$	586		$	1,848
Gross decreases - tax positions in prior period		-			-			(722	)
Gross increases - current period tax positions		16			92			98
Lapse of statute limitations		(31	)		(302	)		(638	)
End of Year	$	361		$	376		$	586