Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Income before Income Tax, Domestic and Foreign

Income before income taxes consists of the following:



	For the Year Ended December 31,
	2013		2012		2011
United States	$	67,355	$	79,812	$	42,429
Foreign	51,303		23,294		20,545
Income before income taxes	$	118,658	$	103,106	$	62,974

Schedule of Components of Income Tax Expense (Benefit)

Significant components of the provision for income taxes are as follows:



	Year Ended December 31,
	2013			2012			2011
Current:
Federal	$	19,421		$	28,076		$	14,369
State and local	1,618			1,768			876
Foreign	11,864			5,456			5,976
Total current	32,903			35,300			21,221
Deferred:
Federal	21			(3,477		)	(962		)
State and local	(364		)	(684		)	(66		)
Foreign	(1,264		)	(357		)	(1,463		)
Total deferred	(1,607		)	(4,518		)	(2,491		)
Total provision	$	31,296		$	30,782		$	18,730

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of income taxes computed at the U.S. federal statutory tax rate to income tax expense is as follows:



	Year Ended December 31,
	2013			2012			2011
Income tax expense at U.S. federal statutory rate	$	41,530		$	36,087		$	22,041
State income taxes, net of federal tax benefit	757			711			810
Foreign income, net of credit on foreign taxes	501			48			137
Effective tax rate differential of earnings outside of U.S.	(8,257		)	(4,983		)	(1,901		)
Foreign investment tax credit	—			(406		)	(777		)
Research & experimentation credits	(2,105		)	—			(350		)
Non-deductible (taxable) items	865			2,885			424
Change in uncertain tax positions	(347		)	(394		)	(28		)
Domestic production activities deduction	(2,237		)	(2,490		)	(1,626		)
Other items	589			(676		)	—
Income tax expense	$	31,296		$	30,782		$	18,730

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:



	December 31,
	2013			2012
Deferred tax assets:
Accruals and reserves	$	25,478		$	27,625
Pensions	2,536			7,019
Inventory	4,350			2,775
Share-based compensation	6,107			5,220
Tax credit carryforwards	—			2,662
Foreign net operating loss carryforwards	594			1,440
State net operating loss carryforward	1,610			1,517
Other — net	844			1,331
Total deferred tax assets before valuation allowance	41,519			49,589
Valuation allowance	(1,250		)	(1,766		)
Total deferred tax assets, net of valuation allowance	$	40,269		$	47,823
Deferred tax liabilities:
Property, plant and equipment	$	17,248		$	15,705
Intangibles	53,314			59,396
Convertible notes	2,623			3,071
Total deferred tax liabilities	$	73,185		$	78,172
Net deferred tax liabilities	$	32,916		$	30,349
The net deferred tax liability is classified as follows:
Deferred income taxes	$	(14,675	)	$	(15,282	)
Other assets	(125		)	(654		)
Long-term deferred tax liabilities	47,716			46,285
Net deferred tax liabilities	$	32,916		$	30,349

Summary of Income Tax Contingencies [Table Text Block]

Unrecognized Income Tax Benefits

The reconciliation of beginning to ending unrecognized tax benefits is as follows:



	Year Ended December 31,
	2013			2012			2011
Unrecognized tax benefits at beginning of the year	$	3,339		$	2,440		$	2,468
Additions for tax positions of prior years	299			1,921			128
Reductions for tax positions of prior years	(1,921		)	—			(22		)
Reductions for settlements	—			(905		)	—
Lapse of statutes of limitation	(776		)	(117		)	(134		)
Unrecognized tax benefits at end of the year	$	941		$	3,339		$	2,440

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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