Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Details of Earnings Before Income Taxes

Details of earnings before income taxes are as follows:

	2023		2022		2021
	(In thousands)
Domestic	$	120,384	$	83,680	$	74,509
Foreign		1,582		4,037		4,114
Total	$	121,966	$	87,717	$	78,623

Schedule of Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes is as follows:

	2023			2022			2021
	(In thousands)
Current:
Federal	$	29,629		$	20,089		$	15,299
State		8,147			4,720			3,556
Foreign		1,242			2,031			1,939
Deferred:
Federal		(7,376	)		(4,289	)		(1,774	)
State		(1,332	)		(955	)		(600	)
Foreign		(942	)		(375	)		(681	)
Total	$	29,368		$	21,221		$	17,739

Reconciliation of Provision for Income Taxes

The provision for income tax differs from the amount that would be provided by applying the statutory U.S. corporate income tax rate in each year due to the following items:

	2023			2022			2021
	(In thousands)
Provision at statutory rate	$	25,613		$	18,421		$	16,511
State income taxes, net of federal tax benefit		5,236			2,938			2,288
Valuation allowance		(78	)		571			168
Foreign - tax rate differential and other		340			388			606
Federal tax credits		(1,548	)		(1,016	)		(770	)
Compensation subject to section 162(m)		930			693			685
Stock based compensation		(967	)		(523	)		(1,510	)
Other		(158	)		(251	)		(239	)
Actual provision	$	29,368		$	21,221		$	17,739

Components of Deferred Income Taxes

The components of deferred income taxes as of December 31 are as follows:

	2023			2022
	(In thousands)
Deferred tax assets:
Reserve for receivables and inventory	$	2,959		$	2,972
Accrued compensation		4,069			2,209
Reserves and payables		2,509			2,340
Accrued post-retirement medical benefits		971			1,054
Net operating loss and credit carryforwards		4,948			2,827
Deferred compensation		1,269			1,139
Accrued qualified plan benefits		988			1,193
Accrued stock-based compensation		1,166			1,120
Deferred revenue		8,128			4,793
Operating lease liabilities		1,071			1,262
Research and development costs		5,744			2,625
Other		1,359			987
Total gross deferred tax assets		35,181			24,521
Less: valuation allowance		(2,683	)		(2,690	)
Total net deferred tax assets		32,498			21,831
Deferred tax liabilities:
Property, plant and equipment		4,323			4,454
Intangible assets		8,361			7,247
Prepaids		394			238
Operating lease assets		1,020			1,258
Other		746			525
Total deferred tax liabilities		14,844			13,722
Net deferred tax assets	$	17,654		$	8,109

Schedule of Changes in Gross Liability for Unrecognized Tax Benefits

Changes in the Company's gross liability for unrecognized tax benefits, excluding interest and penalties, were as follows:

	2023			2022
	(In thousands)
Balance at beginning of year	$	1,039		$	1,172
Increases (reductions) in unrecognized tax benefits as a result of positions taken    during the prior year		84			(89	)
Increases in unrecognized tax benefits as a result of positions taken during the    current year		485			231
Reductions to unrecognized tax benefits as a result of a lapse of the applicable    statute of limitations		(213	)		(275	)
Balance at end of year	$	1,395		$	1,039