Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014



(in thousands)	2014					2013					2012
Computed income tax expense at statutory federal income tax rate of 35%	$	14,450		35.0	%	$	9,670		35.0	%	$	8,096		35.0	%
State income taxes, net of federal provision	227			0.5	%	345			1.2	%	470			2.0	%
Foreign tax rate differentials	(1,262		)	(3.1	)%	77			0.3	%	(2,031		)	(8.8	)%
U.S. tax on foreign earnings (net of foreign tax credits)	(2,168		)	(5.3	)%	(1,831		)	(6.6	)%	(595		)	(2.6	)%
Change in valuation allowance	(11,650		)	(28.2	)%	(2,184		)	(7.9	)%	14,220			61.5	%
Proceeds from life insurance	(133		)	(0.3	)%	(196		)	(0.7	)%	(472		)	(2.0	)%
Return to provision and other adjustments	(1,401		)	(3.4	)%	1,664			6.0	%	(371		)	(1.6	)%
Other, net	2,046			5.0	%	765			2.8	%	261			1.1	%
Income tax expense	$	109		0.2	%	$	8,310		30.1	%	$	19,578		84.6	%



(in thousands)	Continuing Operations			Discontinued Operations		Total
Balance, December 31, 2011	$	—		$	636	$	636
Net additions and reductions	—			—		—
Balance at December 31, 2012	—			636		636
Additions for tax positions taken in prior years	736			—		736
Balance at December 31, 2013	736			636		1,372
Additions for tax positions taken in prior years	1,019			—		1,019
Reductions for lapse of applicable statutes	(472		)	—		(472		)
Balance at December 31, 2014	$	1,283		$	636	$	1,919

The components of deferred income tax assets and liabilities included in the consolidated balance sheets as of December 31 are as follows:



(in thousands)	2014			2013
Deferred tax assets:
Tax credit carryforwards	$	21,783		$	26,945
Pension, compensation and other employee benefits	23,501			23,835
Provisions for losses	12,127			13,674
Net operating loss carryforward	4,886			4,794
State income taxes	2,979			2,170
Other deferred income tax assets	3,927			5,552
Total deferred tax assets	69,203			76,970
Valuation allowance	(3,781		)	(12,393		)
Foreign deferred tax assets included above	(1,536		)	(1,713		)
Net deferred tax assets	63,886			62,864
Deferred tax liabilities:
Property and equipment	(5,856		)	(7,861		)
Deferred tax related to life insurance	(4,962		)	(4,842		)
Goodwill and other intangible assets	(2,705		)	(959		)
Unremitted foreign earnings	—			(398		)
Other deferred income tax liabilities	(1,452		)	(393		)
Total deferred tax liabilities	(14,975		)	(14,453		)
Foreign deferred tax liabilities included above	3,671			1,989
United States deferred tax assets	$	52,582		$	50,400

Significant components of the income tax provision from continuing operations are as follows:

Earnings before income taxes from continuing operations consist of the following for the years ended December 31:



(in thousands)	2014		2013		2012
Foreign	$	33,349	$	25,010	$	29,645
United States	7,938		2,620		(6,514		)
Income from continuing operations before income taxes	$	41,287	$	27,630	$	23,131