Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes

Schedule of provision for income taxes from continuing operations

(in thousands)

	Years Ended December 31,
	2011			2010		2009
Current
Federal	$	21,040		$	20,310	$	15,521
State	4,427			3,896		3,111
Foreign	4,582			3,417		(18		)
Deferred
Federal	(574		)	3,673		14
State	(358		)	1,726		49
Foreign	(1,231		)	217		(1,321		)
	$	27,886		$	33,239	$	17,356

Schedule of income and loss from continuing operations before income taxes

(in thousands)

	Years Ended December 31,
	2011		2010			2009
Domestic	$	68,961	$	78,183		$	49,934
Foreign	9,825		(146		)	(18,457		)
	$	78,786	$	78,037		$	31,477

Schedule of effective income tax rates reconciliations

(in thousands)

	Years Ended December 31,
	2011		2010		2009
Federal tax rate	35.0	%	35.0	%	35.0	%
State taxes, net of federal benefit	3.4	%	4.9	%	7.0	%
Tax benefit of domestic manufacturing deduction	(2.5	)%	(2.3	)%	(2.9	)%
Change in valuation allowance	(0.3	)%	3.3	%	7.6	%
Difference between United States statutory and foreign local tax rates	0.3	%	2.0	%	7.6	%
Change in uncertain tax position	(0.0	)%	(0.7	)%	(1.7	)%
Other	(0.5	)%	0.4	%	2.5	%
Effective income tax rate	35.4	%	42.6	%	55.1	%

Schedule of deferred tax assets and liabilities

(in thousands)

	December 31,
	2011			2010			2009
Current deferred tax assets
State tax	$	1,586		$	1,197		$	1,061
Workers’ compensation	2,123			1,816			1,719
Health claims	549			519			391
Vacation liability	865			786			843
Allowance for doubtful accounts	291			351			1,614
Inventories	4,796			5,141			7,150
Sales incentive and advertising allowances	408			399			781
State tax credit carry forward	—			125			126
Accrued rent reserves	—			—			5
Intangible rights write-off	194			—			—
Acquisition expenses	477			—			—
Unrealized foreign exchange gain or loss	57			86			96
Other, net	428			271			549
	11,774			10,691			14,335
Less valuation allowances	—			(502		)	(365		)
	$	11,774		$	10,189		$	13,970
Long-term deferred tax assets (liabilities)
Depreciation	$	(3,067	)	$	(1,614	)	$	259
Goodwill and other intangibles amortization	(314		)	(1,447		)	(3,704		)
Deferred compensation related to stock options	5,485			4,841			6,562
Uncertain tax positions’ unrecognized tax benefits	1,115			1,438			1,250
Keymark investments basis difference	—			663			447
Non-United States tax loss carry forward	5,912			5,548			5,011
Tax effect on cumulative translation adjustment	(812		)	(826		)	(799		)
Other	811			641			1,095
	9,130			9,244			10,121
Less valuation allowances	(6,279		)	(6,665		)	(4,523		)
	$	2,851		$	2,579		$	5,598

Schedule of reconciliation of unrecognized tax benefits

(in thousands)

	2011			2010			2009
Balance at January 1	$	5,862		$	6,422		$	6,705
Additions based on tax positions related to prior years	18			1,236			640
Reductions based on tax positions related to prior years	(681		)	(537		)	(632		)
Additions for tax positions of the current year	570			951			902
Settlements	(362		)	(59		)	—
Lapse of statute of limitations	(724		)	(2,151		)	(1,193		)
Balance at December 31	$	4,683		$	5,862		$	6,422

* Foreign currency translation amounts are included within each line as applicable.