Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

Income before income taxes from domestic and international jurisdictions is comprised of the following:



Year Ended December 31,	2016		2015		2014
(Dollars in thousands)
Income before income taxes:
Domestic	$	18,499	$	25,069	$	8,328
Foreign	36,222		10,214		7,374
	$	54,721	$	35,283	$	15,702

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes is comprised of the following:



Year Ended December 31,	2016			2015			2014
(Dollars in thousands)
Current taxes
Federal	$	(5,017	)	$	(10,900	)	$	(2,976	)
State	450			481			(453		)
Foreign	(10,639		)	(2,099		)	(8,660		)
Total current taxes	(15,206		)	(12,518		)	(12,089		)
Deferred taxes
Federal	(1,199		)	(961		)	657
State	(332		)	(576		)	(109		)
Foreign	3,397			2,716			4,642
Total deferred taxes	1,866			1,179			5,190

Income tax provision	$	(13,340	)	$	(11,339	)	$	(6,899	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

reconciliation of the U.S. federal tax rate to our effective income tax rate:



Year Ended December 31,	2016		2015		2014
Statutory rate	(35.0	)%	(35.0	)%	(35.0	)%
State tax provisions, net of federal income tax benefit	(6.3	)	3.8		(0.5	)
Permanent differences	(0.8	)	(1.5	)	(5.3	)
Tax credits	0.6		0.9		2.8
Foreign income taxes at rates other than the statutory rate	11.7		2.3		(0.5	)
Valuation allowance and other	5.1		(5.6	)	(8.4	)
Changes in tax liabilities, net	0.5		6.4		4.2
Share based compensation	(1.2	)	(4.4	)	—
Other	1.0		1.0		(1.2	)
Effective income tax rate	(24.4	)%	(32.1	)%	(43.9	)%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and deferred liabilities are as follows:



December 31,	2016			2015
(Dollars in thousands)
Deferred income tax assets:
Accrued liabilities	$	6,120		$	3,981
Hedging and foreign currency losses	9,475			8,469
Deferred compensation	11,723			11,833
Inventory reserves	3,563			3,079
Net loss carryforwards and credits	3,123			5,891
Competent authority deferred tax assets and other foreign timing differences	5,135			4,836
Other	462			(683		)
Total before valuation allowance	39,601			37,406
Valuation allowance	(3,123		)	(5,891		)
Net deferred income tax assets	36,478			31,515
Deferred income tax liabilities:
Property, plant and equipment	(11,268		)	(14,011		)
Deferred income tax liabilities	(11,268		)	(14,011		)
Net deferred income tax assets	$	25,210		$	17,504

The classification of our net deferred tax asset is shown below:



December 31,	2016			2015
(Dollars in thousands)

Long-term deferred income tax assets	$	28,838		$	25,598
Long-term deferred income tax liabilities	(3,628		)	(8,094		)
Net deferred tax asset	$	25,210		$	17,504

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

We account for our uncertain tax positions in accordance with U.S. GAAP. A reconciliation of the beginning and ending amounts of these tax benefits is as follows:



Year Ended December 31,	2016			2015			2014
(Dollars in thousands)
Beginning balance	$	7,318		$	7,193		$	9,462
Increases (decreases) due to foreign currency translations	—			—			(244		)
Increases (decreases) as a result of positions taken during:
Prior periods	(3,872		)	1,238			(2,553		)
Current period	—			1,798			956
Settlements with taxing authorities	—			—			—
Expiration of applicable statutes of limitation	—			(2,911		)	(428		)
Ending balance ⁽¹⁾	$	3,446		$	7,318		$	7,193