Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes

Schedule of provision for income taxes from continuing operations

(in thousands)

	Years Ended December 31,
	2012			2011			2010
Current
Federal	$	13,163		$	21,040		$	20,310
State	2,732			4,427			3,896
Foreign	3,920			4,582			3,417
Deferred
Federal	(544		)	(574		)	3,673
State	(98		)	(358		)	1,726
Foreign	830			(1,231		)	217
	$	20,003		$	27,886		$	33,239

Schedule of income and loss from continuing operations before income taxes

(in thousands)

	Years Ended December 31,
	2012			2011		2010
Domestic	$	65,705		$	68,961	$	78,183
Foreign	(3,784		)	9,825		(146		)
	$	61,921		$	78,786	$	78,037

Schedule of effective income tax rates reconciliations

(in thousands) 

	Years Ended December 31,
	2012		2011		2010
Federal tax rate	35.0	%	35.0	%	35.0	%
State taxes, net of federal benefit	2.9	%	3.4	%	4.9	%
Tax benefit of domestic manufacturing deduction	(2.1	)%	(2.5	)%	(2.3	)%
Change in valuation allowance	6.0	%	(0.3	)%	3.3	%
Difference between United States statutory and foreign local tax rates	2.6	%	0.3	%	2.0	%
Change in uncertain tax position	(0.3	)%	(0.0	)%	(0.7	)%
Worthless stock deduction on Irish subsidiary	(15.4	)%	0.0	%	0.0	%
Non-deductible goodwill write-off	1.1	%	0.0	%	0.0	%
Non-deductible professional fee	1.3	%	0.0	%	0.0	%
Other	1.2	%	(0.5	)%	0.4	%
Effective income tax rate	32.3	%	35.4	%	42.6	%

Schedule of deferred tax assets and liabilities

(in thousands)

	December 31,
	2012			2011			2010
Current deferred tax assets
State tax	$	1,133		$	1,586		$	1,197
Workers’ compensation	1,814			2,123			1,816
Health claims	516			549			519
Vacation liability	1,037			865			786
Allowance for doubtful accounts	332			291			351
Inventories	5,713			4,796			5,141
Sales incentive and advertising allowances	580			408			399
State tax credit carry forward	—			—			125
Intangible rights write-off	—			194			—
Acquisition expenses	—			477			—
Unrealized foreign exchange gain or loss	39			57			86
Other, net	309			428			271
	11,473			11,774			10,691
Less valuation allowances	—			—			(502		)
	$	11,473		$	11,774		$	10,189
Long-term deferred tax assets (liabilities)
Depreciation	$	(2,434	)	$	(3,067	)	$	(1,614	)
Goodwill and other intangibles amortization	(4,086		)	(314		)	(1,447		)
Deferred compensation related to stock options	7,296			5,485			4,841
Uncertain tax positions’ unrecognized tax benefits	1,140			1,115			1,438
Keymark investments basis difference	—			—			663
Non-United States tax loss carry forward	8,064			5,912			5,548
Tax effect on cumulative translation adjustment	(763		)	(812		)	(826		)
Other	526			811			641
	9,743			9,130			9,244
Less valuation allowances	(9,719		)	(6,279		)	(6,665		)
	$	24		$	2,851		$	2,579

Schedule of reconciliation of unrecognized tax benefits, including foreign translation amount

(in thousands)

	2012			2011			2010
Balance at January 1	$	4,683		$	5,862		$	6,422
Additions based on tax positions related to prior years	527			18			1,236
Reductions based on tax positions related to prior years	(1,163		)	(681		)	(537		)
Additions for tax positions of the current year	933			570			951
Settlements	(486		)	(362		)	(59		)
Lapse of statute of limitations	(651		)	(724		)	(2,151		)
Balance at December 31	$	3,843		$	4,683		$	5,862