Note 11 - Income Taxes (Tables)

12 Months Ended

Dec. 03, 2022

Notes Tables

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

Income before income taxes and income from equity method investments	2022		2021		2020
United States	$	63,718	$	14,989	$	20,328
Non-U.S.		188,210		201,862		138,028
Total	$	251,928	$	216,851	$	158,356

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

Components of the provision for income tax expense (benefit)	2022			2021			2020
Current:
U.S. federal	$	12,181		$	10,310		$	5,243
State		3,389			2,265			1,320
Non-U.S.		63,750			57,801			56,542
		79,320			70,376			63,105
Deferred:
U.S. federal		8,150			(6,891	)		(4,709	)
State		(1,767	)		(350	)		(4,111	)
Non-U.S.		(8,517	)		(102	)		(12,364	)
		(2,134	)		(7,343	)		(21,184	)
Total	$	77,186		$	63,033		$	41,921

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

Reconciliation of effective income tax	2022			2021			2020
Tax at statutory U.S. federal income tax rate	$	52,760		$	45,539		$	33,255
State income taxes, net of federal benefit		1,252			1,444			(2,104	)
Foreign dividend repatriation		2,596			1,104			900
Foreign operations		1,868			19,673			(563	)
Executive compensation over $1.0 million		2,847			2,507			1,420
Non-U.S. stock option expense		525			575			358
Change in valuation allowance		3,187			(9,572	)		5,925
Research and development tax credit		(927	)		(993	)		(906	)
Foreign-derived intangible income		(2,786	)		(2,617	)		(1,396	)
Global intangible low-taxed income		1,890			2,334			1,932
Provision to return		840			1,122			1,704
Cross currency swap		7,020			3,931			(6,748	)
Contingency reserve		5,909			(2,139	)		8,287
Other		205			125			(143	)
Total income tax expense	$	77,186		$	63,033		$	41,921

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Deferred income tax balances at each year-end related to:	2022			2021
Deferred tax assets:
Pension and other post-retirement benefit plans	$	6,752		$	12,118
Employee benefit costs		25,196			26,799
Foreign tax credit carryforward		7,884			7,309
Tax loss carryforwards		22,948			24,071
Leases		8,538			8,590
Hedging activity		13,299			2,623
Interest deduction limitation		17,736			12,428
Other		28,840			27,410
Gross deferred tax assets		131,193			121,348
Less: valuation allowance		(14,424	)		(11,341	)
Total net deferred tax assets		116,769			110,007
Deferred tax liability:
Depreciation and amortization		(215,219	)		(207,726	)
Pension and other post-retirement benefit plans		(37,362	)		(36,042	)
Leases		(8,329	)		(8,524	)
Total deferred tax liability		(260,910	)		(252,292	)
Net deferred tax liability	$	(144,141	)	$	(142,285	)

Summary of Income Tax Contingencies [Table Text Block]

	2022			2021
Balance at beginning of year	$	13,281		$	14,569
Tax positions related to the current year:
Additions		469			401
Tax positions related to prior years:
Additions		5,885			1,323
Reductions		(1,019	)		(950	)
Settlements		-			(161	)
Lapses in applicable statutes of limitation		(1,034	)		(1,901	)
Balance at end of year	$	17,582		$	13,281