Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The Company's income before income taxes and income tax expense for continuing operations, each by tax jurisdiction, consisted of the following:

	Year ended December 31,
	2014			2013			2012
	(dollars in thousands)
Income before income taxes:
Domestic	$	85,000		$	49,480		$	12,150
Foreign	14,600			47,610			30,340
Total income before income taxes	$	99,600		$	97,090		$	42,490
Current income tax expense:
Federal	$	31,150		$	15,850		$	8,340
State and local	3,450			1,440			1,860
Foreign	6,890			9,650			4,190
Total current income tax expense	41,490			26,940			14,390
Deferred income tax expense (benefit):
Federal	(9,170		)	(4,490		)	(6,200		)
State and local	350			(1,020		)	(750		)
Foreign	200			(3,290		)	(1,380		)
Total deferred income tax expense	(8,620		)	(8,800		)	(8,330		)
Income tax expense	$	32,870		$	18,140		$	6,060

Schedule of Deferred Tax Assets and Liabilities

The components of deferred taxes at December 31, 2014 and 2013 are as follows:

	2014			2013
	(dollars in thousands)
Deferred tax assets:
Accounts receivable	$	1,710		$	1,240
Inventories	9,680			7,840
Accrued liabilities and other long-term liabilities	45,750			40,410
Tax loss and credit carryforwards	17,530			10,010
Gross deferred tax asset	74,670			59,500
Valuation allowances	(9,820		)	(6,530		)
Net deferred tax asset	64,850			52,970
Deferred tax liabilities:
Property and equipment	(19,640		)	(20,420		)
Goodwill and other intangible assets	(64,400		)	(66,440		)
Other, principally deferred income	(5,230		)	(6,310		)
Gross deferred tax liability	(89,270		)	(93,170		)
Net deferred tax liability	$	(24,420	)	$	(40,200	)

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of income tax expense computed at the U.S. federal statutory rate to income tax expense allocated to income from continuing operations before income taxes:

	2014			2013			2012
	(dollars in thousands)
U.S. federal statutory rate	35		%	35		%	35		%
Tax at U.S. federal statutory rate	$	34,860		$	33,990		$	14,880
State and local taxes, net of federal tax benefit	2,750			250			730
Differences in statutory foreign tax rates	(3,910		)	(8,550		)	(4,920		)
Change in recognized tax benefits	(1,960		)	(1,630		)	(1,320		)
Tax holiday(a)	(420		)	(1,980		)	(1,160		)
Nontaxable gains	—			(5,460		)	—
Restructuring (benefits)/charges	—			2,230			(2,400		)
Noncontrolling interest	(280		)	(1,410		)	(790		)
Net change in valuation allowance	3,310			1,980			1,600
Other, net	(1,480		)	(1,280		)	(560		)
Income tax expense	$	32,870		$	18,140		$	6,060

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the change in the UTBs and related accrued interest and penalties for the years ended December 31, 2014 and 2013 is as follows:

	Unrecognized Tax Benefits
	(dollars in thousands)
Balance at December 31, 2012	$	21,730
Tax positions related to current year:
Additions	1,300
Tax positions related to prior years:
Additions	15,340
Reductions	(4,310		)
Settlements	—
Lapses in the statutes of limitations	(2,490		)
Balance at December 31, 2013	$	31,570
Tax positions related to current year:
Additions	280
Tax positions related to prior years:
Additions	270
Reductions	(2,050		)
Settlements	—
Lapses in the statutes of limitations	(2,870		)
Balance at December 31, 2014	$	27,200