Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Earnings Before Income Taxes

Earnings before income taxes consist of the following:

	Years Ended December 31,
	2018		2017		2016
U.S.	$	30,815	$	9,315	$	25,746
Non-U.S.	27,288		30,938		31,499
Total	$	58,103	$	40,253	$	57,245

Significant Components of Income Tax Provision/(Benefit)

Significant components of income tax provision/(benefit) are as follows:

	Years Ended December 31,
	2018			2017			2016
Current:
U.S.	$	(397	)	$	1,635		$	(1,312	)
Non-U.S.	12,538			7,150			13,729
Total Current	12,141			8,785			12,417
Deferred:
U.S.	(330		)	17,597			13,245
Non-U.S.	(240		)	(577		)	(2,797		)
Total Deferred	(570		)	17,020			10,448
Total provision for income taxes	$	11,571		$	25,805		$	22,865

Significant Components of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities are as follows:

	As of December 31,
	2018			2017
Post-retirement benefits	$	1,061		$	1,160
Inventory reserves	1,236			1,128
Loss carry-forwards	4,647			5,401
Credit carry-forwards	16,909			10,793
Nondeductible accruals	5,685			7,062
Research expenditures	16,847			20,002
Stock compensation	2,142			1,803
Foreign exchange loss	2,245			1,373
Other	207			220
Gross deferred tax assets	50,979			48,942
Depreciation and amortization	11,500			9,819
Pensions	11,736			12,387
Subsidiaries' unremitted earnings	1,258			1,662
Gross deferred tax liabilities	24,494			23,868
Net deferred tax assets	26,485			25,074
Deferred tax asset valuation allowance	(8,274		)	(8,182		)
Total net deferred tax assets	$	18,211		$	16,892

Schedule of current and long-term deferred tax assets and current and long-term deferred tax liabilities

The long-term deferred tax assets and long-term deferred tax liabilities are as follows below:

	As of December 31,
	2018			2017
Non-current deferred tax assets	$	22,201		$	20,694
Non-current deferred tax liabilities	$	(3,990	)	$	(3,802	)
Total net deferred tax assets	$	18,211		$	16,892

Reconciliation of Effective Income Taxes Rate

The following table reconciles taxes at the U.S. federal statutory rate to the effective income tax rate:

	Years Ended December 31,
	2018		2017		2016
Taxes at the U.S. statutory rate	21.0	%	35.0	%	35.0	%
State income taxes, net of federal income tax benefit	1.2	%	1.1	%	1.4	%
Non-U.S. income taxed at rates different than the U.S. statutory rate	0.8	%	(9.0	)%	(7.5	)%
Foreign source income, net of associated foreign tax credits	4.1	%	0.1	%	5.3	%
Benefit of tax credits	(0.9	)%	(1.4	)%	(1.0	)%
Non-deductible expenses	1.3	%	1.5	%	0.7	%
Stock compensation - excess tax benefits	(0.9	)%	(1.5	)%	(0.8	)%
Adjustment to valuation allowances	(0.6	)%	(4.4	)%	3.8	%
Other changes in tax laws and rates	(6.1	)%	—	%	—	%
Change in unrecognized tax benefits	(1.7	)%	2.0	%	3.3	%
Impacts of unremitted foreign earnings	1.1	%	0.9	%	0.6	%
Impacts related to the 2017 Tax Cuts and Jobs Act	(0.6	)%	44.7	%	—	%
Other	1.2	%	(4.9	)%	(0.9	)%
Effective income tax rate	19.9	%	64.1	%	39.9	%

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending unrecognized tax benefits is provided below:

	2018			2017
Balance at January 1	$	7,306		$	12,347
Increase related to current year tax positions	55			—
(Decrease) increase related to prior year tax positions	(36		)	1,290
Decrease related to lapse in statute of limitation	(1,076		)	—
Decrease related to settlements with taxing authorities	(46		)	(6,331		)
Balance at December 31	$	6,203		$	7,306