Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Income before income taxes and equity losses in Chinese joint venture

	2012		2011		2010
Domestic	$	14,754	$	30,629	$	17,664
Foreign		413		4,098		6,958
	$	15,167	$	34,727	$	24,622

Provision (benefit) for taxes on income

	2012			2011			2010
Current:
Federal	$	2,550		$	6,047		$	4,983
State		184			754			995
Foreign		(61	)		140			364
		2,673			6,941			6,342
Deferred:
Federal		2,142			3,518			2,210
State		360			2			(494	)
Foreign		175			2,633			1,284
Reversal of valuation allowance		(132	)		(178	)		(655	)
		2,545			5,975			2,345
	$	5,218		$	12,916		$	8,687

Difference between statutory U.S. federal income tax and the Corporation's effective income tax

	2012			2011			2010
Computed at statutory rate	$	5,309		$	12,154		$	8,618
Tax differential on non-U.S. earnings		(45	)		(358	)		(355	)
State income taxes		403			1,296			902
Manufacturers deduction (I.R.C. Section 199)		(257	)		(792	)		(449	)
Meals and entertainment		198			220			191
Tax credits		(64	)		(29	)		(165	)
Chinese joint venture		(558	)		(175	)		(168	)
Reversal of valuation allowance		(132	)		(178	)		(655	)
Subpart F income inclusion		0			0			615
Other – net		364			778			153
	$	5,218		$	12,916		$	8,687

Deferred income tax assets and liabilities

	2012			2011
Assets:
Employment – related liabilities	$	12,814		$	12,129
Pension liability – foreign		3,984			3,562
Pension liability – domestic		19,574			14,178
Liabilities related to discontinued operations		1,155			1,322
Capital loss carryforwards		391			418
Asbestos-related liability		23,702			26,882
Net operating loss – state		1,795			1,616
Other		5,820			6,827
Gross deferred income tax assets		69,235			66,934
Valuation allowance		(2,887	)		(3,042	)
		66,348			63,892
Liabilities:
Depreciation		(31,931	)		(30,124	)
Mark-to-market adjustment – derivatives		(153	)		(42	)
Other		(2,353	)		(1,824	)
Gross deferred income tax liabilities		(34,437	)		(31,990	)
Net deferred income tax assets	$	31,911		$	31,902

Summary of changes in unrecognized tax benefits

	2012			2011			2010
Balance at the beginning of the year	$	311		$	786		$	804
Gross increases for tax positions taken in the current year		233			81			55
Gross increases for tax positions taken in prior years		18			0			0
Gross decreases in tax positions due to lapse in statute of limitations		(120	)		(498	)		(29	)
Gross decreases for tax positions taken in prior years		0			(25	)		(44	)
Gross decreases for tax settlements with taxing authorities		0			(33	)		0
Balance at the end of the year	$	442		$	311		$	786