INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

INCOME TAXES

Schedule of provision for income taxes based on income before income taxes

The provision for income taxes is based on income before income taxes as follows (in thousands):

	For the year ended December 31,
	2017		2016		2015
Domestic	$	8,076	$	4,288	$	7,676
Foreign	8,060		8,515		7,745
Income before income taxes	$	16,136	$	12,803	$	15,421

Schedule of components of the total provision for income taxes

Components of the total provision for income taxes are as follows (in thousands):

	For the year ended December 31,
	2017			2016			2015
Current provision (benefit)
Domestic	$	4,750		$	(70	)	$	1,936
Foreign	2,566			2,025			1,042
Total current provision	7,316			1,955			2,978
Deferred provision
Domestic	925			1,438			1,217
Foreign	(141		)	332			152
Total deferred provision	784			1,770			1,369
Provision for income taxes	$	8,100		$	3,725		$	4,347

Schedule of differences in the provision for income taxes from the amount determined by applying the federal statutory rate

	For the year ended December 31,
	2017		2016		2015
Tax provision, computed at statutory rate	35.0	%	34.0	%	34.0	%
State tax, net of federal impact	3.6	%	4.6	%	4.8	%
Change in valuation allowance	1.9	%	0.9	%	(3.3	)%
Effect of foreign tax rate differences	(4.2	)%	(6.5	)%	(6.1	)%
Permanent items, other	0.2	%	(0.4	)%	0.9	%
R&D Credit	(2.2	)%	(1.7	)%	(1.3	)%
Restricted Stock Awards	(2.6	)%	(2.7	)%	0.0	%
Effect of Tax Cuts and Jobs Act (1)	19.4	%	0.0	%	0.0	%
Other	(0.9	)%	0.9	%	(0.8	)%
Provision for income taxes	50.2	%	29.1	%	28.2	%

(1) A reconciliation of the 2017 effective tax rate excluding the adjustments related to the Tax Cuts and Jobs Act is as follows:

Effective tax rate excluding adjustments related to Tax Cuts and Jobs Act

	Provision  for income  taxes			Tax rate
As reported	$	8,100		50.2	%
Less: repatriation transition tax	(3,140		)	-19.5	%
Plus: remeasurement of deferred tax assets and liabilities	7			0.1	%
As adjusted	$	4,967		30.8	%

Schedule of tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities

	December 31,
	2017			2016
Noncurrent deferred tax assets:
Employee benefit plans	$	1,896		$	2,247
Allowances and other	640			969
Net operating loss and tax credit carryforwards	203			1,003
Other	370			852
Total noncurrent deferred tax assets	3,109			5,071
Valuation allowance	(50		)	(557		)
Net noncurrent deferred tax assets:	$	3,059		$	4,514
Net noncurrent deferred tax liabilities:
Property and Equipment	$	3,001		$	3,445
Goodwill and Intangibles	3,398			3,136
Other	255			276
Total deferred tax liabilities	$	6,654		$	6,857
Net deferred tax asset/(deferred tax liability)	$	(3,595	)	$	(2,343	)