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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2013
Income Taxes [Abstract]  
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

 

 

 

Deferred tax liabilities:

 

 

 

 

Goodwill and other intangibles

$

(11,360)

$

(12,057)

Depreciation

 

(3,369)

 

(2,745)

Inventories

 

(3,611)

 

(3,433)

Investment in joint venture

 

(587)

 

(582)

Other

 

(437)

 

(478)

Total deferred tax liabilities

 

(19,364)

 

(19,295)

Deferred tax assets:

 

 

 

 

Pension and post-retirement liability

 

1,033 

 

2,787 

Warranty reserve

 

2,689 

 

5,752 

Deferred compensation

 

1,525 

 

1,161 

Accounts receivable

 

388 

 

358 

Contingent liabilities

 

662 

 

657 

Long-term insurance reserves

 

569 

 

592 

Net operating loss / tax credit carryforwards

 

139 

 

188 

Other

 

843 

 

245 

Total deferred tax assets

 

7,848 

 

11,740 

Net deferred tax liability

$

(11,516)

$

(7,555)

 

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

 

2011

 

 

 

Current:

 

 

 

 

 

 

Federal

$

8,776 

$

9,742 

$

4,123 

State

 

837 

 

1,977 

 

485 

Foreign

 

1,982 

 

1,910 

 

2,493 

Total current

 

11,595 

 

13,629 

 

7,101 

Deferred:

 

 

 

 

 

 

Federal

 

3,200 

 

(3,966)

 

3,446 

State

 

273 

 

(155)

 

553 

Foreign

 

(229)

 

(442)

 

(515)

Total deferred

 

3,244 

 

(4,563)

 

3,484 

Total income tax expense from continuing operations

$

14,839 

$

9,066 

$

10,585 

 

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

Domestic

$

37,283 

$

16,600 

$

23,433 

Foreign

 

6,832 

 

7,230 

 

9,219 

Income from continuing operations, before income taxes

$

44,115 

$

23,830 

$

32,652 

 

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

 

2011

 

 

 

 

 

 

 

 

Statutory rate

35.0 

%

35.0 

%

35.0 

%

Foreign tax rate differential

(1.7)

 

(3.0)

 

(2.3)

 

State income taxes, net of federal benefit

2.6 

 

4.5 

 

2.2 

 

Non-deductible expenses

0.6 

 

1.4 

 

0.7 

 

Tax credits

(0.8)

 

(2.2)

 

(2.0)

 

Change in liability for unrecognized tax benefits

(1.9)

 

0.9 

 

(0.6)

 

Other

(0.2)

 

1.4 

 

(0.5)

 

 

33.6 

%

38.0 

%

32.5 

%

 

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

 

 

 

 

 

 

 

 

Unrecognized tax benefits at beginning of period:

$

2,045 

$

1,849 

Increases based on tax positions for prior periods

 

149 

 

220 

Decreases based on tax positions for prior periods

 

(89)

 

 -

Decreases related to settlements with taxing authorities

 

(596)

 

 -

Decreases as a result of a lapse of the applicable statute of limitations

 

 -

 

(24)

Balance at end of period

$

1,509 

$

2,045