Note 11 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax

Income before income taxes consists of the following:

	December 31,
	2018		2017		2016
Domestic	$	66,495	$	117,273	$	91,597
International		43,310		24,552		35,942
Total	$	109,805	$	141,825	$	127,539

Schedule of Provision for Income Taxes

The provision for income taxes consist of the following provisions/(benefits):

	December 31,
	2018			2017			2016
Current:
Federal	$	10,486		$	25,201		$	21,167
State		(80	)		-			-
International		8,247			5,674			10,491
Total current		18,653			30,875			31,658
Deferred:
Federal	$	(1,420	)	$	7,615		$	8,350
State		(656	)		-			-
International		19			(429	)		206
Total deferred		(2,057	)		7,186			8,556
Total income tax expense	$	16,596		$	38,061		$	40,214

Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes differs from the statutory federal income tax rate of 21% for 2018, and 35% for 2017 and 2016, as follows:

	December 31,
	2018			2017			2016
Income tax provision at U.S federal statutory rate	$	23,059		$	49,639		$	44,638
State and local taxes, net of federal income tax benefit		(2,539	)		(207	)		(2,310	)
Effect of foreign income taxed at rates other than the U.S. federal statutory rate		44			(1,989	)		(1,154	)
Tax credits		(280	)		(100	)		(200	)
Net change in valuation allowance		476			(315	)		1,673
Domestic production deduction		-			(3,347	)		(2,327	)
Share-based payment compensation		(3,722	)		(5,236	)		-
Tax reform and changes in tax laws		(1,939	)		117			-
Permanent items and other		1,497			(501	)		(106	)
Total	$	16,596		$	38,061		$	40,214

Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities as of December 31, 2018 and 2017 relate to temporary differences and carryforwards as follows:

	December 31,
	2018			2017
Deferred tax assets:
Inventory	$	2,082		$	1,522
Environmental		3,656			3,635
Net operating loss carryforwards		12,347			11,447
Employee benefits		9,512			11,245
Property, plant and equipment		11,581			5,007
Other		4,332			3,712
Total gross deferred tax assets		43,510			36,568
Valuation allowance		(12,263	)		(11,824	)
Total deferred tax assets	$	31,247		$	24,744
Deferred tax liabilities:
Property, plant and equipment		(69,337	)		(15,275	)
Intangibles and other		(14,536	)		(8,537	)
Foreign tax allocation reserve		(2,527	)		(2,710	)
Other		(714	)		(2,830	)
Total deferred tax liabilities	$	(87,114	)	$	(29,352	)
Net deferred tax liability	$	(55,867	)	$	(4,608	)
Classified as follows in the consolidated balance    sheet:
Non-current deferred tax asset		1,409			3,198
Non-current deferred tax liability		(57,276	)		(7,806	)
Total	$	(55,867	)	$	(4,608	)

Summarizes Activity Related to the Entity's Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits as of December 31, 2018, 2017 and 2016:

	2018			2017			2016
Balance at January 1	$	1,654		$	1,778		$	1,492
Gross increases related to current period tax positions		210			215			687
Gross increases related to prior period tax positions		416			-			-
Gross decreases related to prior period tax positions		(37	)		(52	)		(84	)
Expirations of statute of limitations for the assessment of taxes		(233	)		(353	)		(257	)
Settlements		-			(134	)		-
Foreign currency translation		(67	)		200			(60	)
Balance at December 31	$	1,943		$	1,654		$	1,778