INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income before taxes

The Company's pre-tax income (loss) from continuing operations for domestic and foreign sources is as follows (in thousands):

	Year Ended December 31,
	2017			2016			2015
Domestic	$	(454	)	$	(359	)	$	1,675
Foreign	9,137			3,426			2,763
Total	$	8,683		$	3,067		$	4,438

Components of income tax provision (benefits)

Significant components of income tax expense attributable to continuing operations are as follows (in thousands):

	Year Ended December 31,
	2017			2016			2015
Current:
Federal	$	1,160		$	—		$	—
State	$	22		$	(16	)	$	9
Foreign	1,318			1,678			1,851
Total current	2,500			1,662			1,860
Deferred:
Federal	(131		)	158			155
Foreign	468			23			(187		)
Total deferred	337			181			(32		)
Total income tax expense	$	2,837		$	1,843		$	1,828

Effective income tax reconciliation

The following is a reconciliation of income tax expense computed at the United States statutory rate to amounts shown in the Consolidated Statements of Operations:

	2017		2016		2015
Federal income taxes at statutory rate	35.0	%	35.0	%	35.0	%
Taxes on foreign income which differ from the U.S. statutory rate	(16.4	)	(22.1	)	(1.8	)
Effect of change in the enacted rate	2.4		(1.3	)	(2.6	)
Change in valuation allowance	(203.0	)	(3.9	)	(2.3	)
U.S. taxation of international operations	15.0		32.3		6.2
Change in estimated liabilities	(2.6	)	9.5		1.8
Non-deductible items	1.5		10.8		4.8
State and local income taxes	(0.5	)	(0.1	)	0.1
Tax Cut and Jobs Act of 2017	201.3		—		—
	32.7	%	60.2	%	41.2	%

Significant components of deferred tax assets (liabilities)

Significant components of the Company's deferred tax assets and liabilities are as follows (in thousands):

	December 31,
	2017			2016
Deferred tax assets:
Federal, state, and foreign net operating losses	$	18,998		$	20,372
Postretirement benefits	384			631
Deferred employee benefits	1,270			1,688
Accrued pension	9,256			16,410
Inventory valuation	1,576			2,766
Foreign tax credit carryforwards	—			7,693
Other	883			2,030
	$	32,367		$	51,590
Less valuation allowance	(28,035		)	(45,012		)
Total deferred tax assets	$	4,332		$	6,578
Deferred tax liabilities:
Tax over book depreciation	$	(3,215	)	$	(3,509	)
Inventory valuation	(2,003		)	(1,995		)
Intangible assets	(1,080		)	(1,600		)
Other	(118		)	(303		)
Total deferred tax liabilities	(6,416		)	(7,407		)
Net deferred tax liabilities	$	(2,084	)	$	(829	)

Reconciliation of beginning and ending unrecognized tax benefits (liabilities)

A reconciliation of the beginning and ending amount of uncertain tax positions is as follows (in thousands):

	December 31,
	2017			2016			2015
Balance at beginning of year	$	1,847		$	2,305		$	2,342
Additions for tax positions related to the current year	282			302			282
Additions for tax positions of prior years	253			72			263
Reductions for tax positions of prior years	(518		)	(832		)	—
Reductions due to lapse of applicable statutes of limitation	(719		)	—			(582		)
Balance at end of year	$	1,145		$	1,847		$	2,305