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Income taxes (Tables)

12 Months Ended

Dec. 31, 2014

Components of Provision for Income Taxes from Continuing Operations

The following table summarizes the components of the provision for income taxes from continuing operations:



	2014			2013			2012
	(Dollars in thousands)
Current:
Federal	$	12,348		$	(2,996	)	$	21,046
State	1,912			1,736			3,623
Foreign	30,748			36,422			30,389
Deferred:
Federal	(6,593		)	(9,565		)	(34,629		)
State	3,435			(1,825		)	(720		)
Foreign	(13,200		)	(225		)	(3,296		)
	$	28,650		$	23,547		$	16,413

Summaries of U.S. and Non-U.S. Components of Income from Continuing Operations Before Taxes

The following table summarizes the United States and non-United States components of income from continuing operations before taxes:



	2014			2013			2012
	(Dollars in thousands)
United States	$	(23,875	)	$	(3,323	)	$	(315,707	)
Other	243,985			179,053			150,338
	$	220,110		$	175,730		$	(165,369	)

Reconciliations Between Statutory Federal Income Tax Rate and Effective Income Tax Rate

Reconciliations between the statutory federal income tax rate and the effective income tax rate are as follows:



	2014		2013		2012
Federal statutory rate	35.00	%	35.00	%	35.00	%
Goodwill impairment	—		—		(60.84	)
Tax effect of International items	(22.54	)	(14.83	)	11.28
State taxes, net of federal benefit	2.10		(0.32	)	(0.90	)
Uncertain tax contingencies	(0.83	)	(4.06	)	4.85
Contingent consideration reversals	(1.18	)	(2.04	)	—
Other, net	0.47		(0.35	)	0.68
	13.02	%	13.40	%	(9.93	)%

Deferred Tax Assets and Liabilities

The following table summarizes significant components of the Company’s deferred tax assets and liabilities at December 31, 2014 and 2013:



	2014			2013
	(Dollars in thousands)
Deferred tax assets:
Tax loss and credit carryforwards	$	112,796		$	104,043
Pension	63,669			39,310
Reserves and accruals	42,296			38,684
Other	28,416			27,886
Less: valuation allowances	(99,141		)	(86,510		)
Total deferred tax assets	148,036			123,413
Deferred tax liabilities:
Property, plant and equipment	31,143			26,550
Intangibles — stock acquisitions	384,734			400,297
Unremitted foreign earnings	116,595			147,326
Other	10,756			12,030
Total deferred tax liabilities	543,228			586,203
Net deferred tax liability	$	(395,192	)	$	(462,790	)

Uncertain Tax Positions for Liabilities Associated with Unrecognized Tax Benefits

Uncertain Tax Positions: The following table is a reconciliation of the beginning and ending balances for liabilities associated with unrecognized tax benefits for the twelve month periods ending December 31, 2014, 2013 and 2012:



	2014			2013			2012
	(Dollars in thousands)
Balance at January 1	$	55,771		$	62,108		$	75,026
Increase in unrecognized tax benefits related to prior years	—			—			1,110
Decrease in unrecognized tax benefits related to prior years	—			—			(6,134		)
Unrecognized tax benefits related to the current year	910			1,838			4,256
Reductions in unrecognized tax benefits due to settlements	(132		)	—			(8,816		)
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations	(3,235		)	(8,433		)	(3,503		)
Increase (decrease) in unrecognized tax benefits due to foreign currency translation	(2,230		)	258			169
Balance at December 31	$	51,084		$	55,771		$	62,108

Examinations by Major Tax Jurisdictions

The taxable years that remain subject to examination by major tax jurisdictions are as follows:



	Beginning	Ending
United States	2010	2014
Canada	2005	2014
China	2009	2014
Czech Republic	2011	2014
France	2012	2014
Germany	2007	2014
India	2008	2014
Ireland	2010	2014
Italy	2010	2014
Malaysia	2010	2014
Singapore	2010	2014

- 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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