INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

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,		December 31,		December 31,
	2020		2019		2018
Domestic	$	8,478	$	17,188	$	10,894
Foreign		10,298		6,653		9,787
Income before income taxes	$	18,776	$	23,841	$	20,681

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,		December 31,		December 31,
	2020		2019		2018
Current provision
Domestic	$	2,167	$	4,313	$	1,663
Foreign		3,485		2,618		3,169
Total current provision		5,652		6,931		4,832
Deferred provision
Domestic		288		199		675
Foreign		(807)		(311)		(751)
Total deferred provision		(519)		(112)		(76)
Provision for income taxes	$	5,133	$	6,819	$	4,756

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,		December 31,		December 31,
	2020		2019		2018
Tax provision, computed at statutory rate	21.0	%	21.0	%	21.0	%
State tax, net of federal impact	4.2	%	4.5	%	3.0	%
Change in valuation allowance	0.0	%	0.3	%	2.8	%
Effect of foreign tax rate differences	4.3	%	1.5	%	3.4	%
Permanent items, other	(0.2)	%	1.4	%	0.8	%
Section 162(m) compensation	2.2	%	1.1	%	0.1	%
R&D Credit	(3.6)	%	(2.5)	%	(0.8)	%
Restricted stock awards	0.6	%	(0.1)	%	(2.3)	%
Effect of Tax Cuts and Jobs Act	(1.3)	%	(0.4)	%	(5.1)	%
Subpart F income	1.3	%	0.0	%	0.0	%
Tax examinations	0.0	%	1.8	%	0.0	%
Other	(1.2)	%	0.0	%	0.1	%
Provision for income taxes	27.3	%	28.6	%	23.0	%

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

The tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities are as follows (in thousands):

	December 31,		December 31,
	2020		2019
Noncurrent deferred tax assets:
Employee benefit plans	$	2,500	$	2,440
Net operating loss and tax credit carryforwards		2,217		1,675
Accrued expenses and reserves		969		795
Other		697		428
Total noncurrent deferred tax assets		6,383		5,338
Valuation allowance		(1,176)		(1,077)
Net noncurrent deferred tax assets:	$	5,207	$	4,261
Net noncurrent deferred tax liabilities:
Property and equipment	$	3,448	$	3,901
Goodwill and intangibles		5,629		2,885
Other		459		384
Total noncurrent deferred tax liabilities	$	9,536	$	7,170
Net deferred tax asset/(deferred tax liability)	$	(4,329)	$	(2,909)
Presented as follows:
Noncurrent deferred income tax assets	$	330	$	490
Noncurrent deferred income tax liabilities		(4,659)		(3,399)
Net deferred tax liability	$	(4,329)	$	(2,909)

Summary Of Operating Loss And Tax Credit Carryforwards [Table Text Block]

As of December 31, 2020, the Company has the following gross carryforwards available:

			Amount
Jurisdiction	Tax Attribute		(in thousands)	Begin to expire
U.S. State	Net Operating Losses (1)	$	4,139	2024
International	Net Operating Losses (1)	$	1,519	2025
International	Net Operating Losses - Unlimited Carryforward (1)	$	718	No expiration
U.S. Federal	Foreign Tax Credits	$	1,003	2027
International	R&D Tax Credits	$	574	2025