Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Taxes [Abstract]

Earnings Before Income Taxes

Earnings before income taxes were as follows:

(In thousands)	2021		2020		2019
United States	$	71,764	$	72,593	$	38,356
Foreign		85,720		65,252		62,647
Total	$	157,484	$	137,845	$	101,003

Provision for Income Taxes

The provision for income taxes was as follows:

(In thousands)	2021			2020			2019
Current income tax expense:
Federal	$	16,807		$	9,660		$	12,994
State		5,128			3,000			2,622
Foreign		22,875			24,418			22,680
		44,810			37,078			38,296
Deferred expense (benefit):
Federal		(4,159	)		(6,918	)		(17,246	)
State		(1,189	)		(565	)		18
Foreign		(723	)		(1,222	)		(2,112	)
		(6,071	)		(8,705	)		(19,340	)
Income taxes	$	38,739		$	28,373		$	18,956

Effective Income Tax Rate Reconciliation

The reconciliation between the U.S. Federal tax rate and the actual effective tax rate was as follows:

	2021			2020			2019
Taxes at statutory rate		21.0	%		21.0	%		21.0	%
State income taxes, net of federal income tax benefit		2.9			2.2			2.2
Tax credits		(1.4	)		(1.5	)		(2.6	)
Taxes on foreign earnings		4.7			2.8			5.1
Global Intangible Low-Taxed Income		0.7			0.1			0.9
Foreign Derived Intangible Income		(0.9	)		(1.1	)		(1.0	)
Loss on balance sheet hedge		0.7			2.0			-
Resolution of prior years’ tax matters		(0.4	)		(0.1	)		(0.4	)
Valuation allowance adjustments		(1.9	)		(3.7	)		(8.8	)
Other, net		(0.8	)		(1.1	)		2.4
Effective tax rate		24.6	%		20.6	%		18.8	%

Tax Effects of Temporary Differences - Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities consisted of the following:

(In thousands)	2021			2020
Deferred tax assets:
Benefit plans	$	10,360		$	7,665
Liabilities and reserves		16,978			19,291
Operating loss and credit carryovers		68,646			77,756
Other		10,031			13,228
Gross deferred tax assets		106,015			117,940
Valuation allowance		(36,859	)		(47,813	)
Deferred tax assets		69,156			70,127
Deferred tax liabilities:
Property, plant, and equipment		(32,560	)		(31,709	)
Goodwill		(21,044	)		(22,012	)
Deferred tax liabilities		(53,604	)		(53,721	)
Net deferred tax assets	$	15,552		$	16,406

Reconciliation of Change in Liability for Unrecognized Tax Benefits

A reconciliation of the change in the liability for unrecognized tax benefits for 2021 and 2020 is as follows:

(In thousands)	2021			2020
Balance at beginning of year	$	7,445		$	6,032
Increases for tax positions taken in the current year		715			805
Increases for tax positions taken in prior years		-			1,267
Decreases related to settlements with tax authorities		(3,643	)		(386	)
Decreases as a result of lapse of the applicable statutes of limitations		(367	)		(625	)
Foreign currency exchange rate changes		(389	)		352
Balance at the end of year	$	3,761		$	7,445