INCOME TAXES: (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of domestic and foreign components of pretax income


	2014		2013		2012
Domestic	$	81,255	$	73,362	$	64,173
Foreign		10,039		11,121		9,991
	$	91,294	$	84,483	$	74,164

Schedule of components of provision of income taxes


	2014		2013		2012
Current:
Federal	$	25,173	$	16,192	$	24,312
Foreign		549		219		231
State		1,538		891		1,914
		27,260		17,302		26,457
Deferred:
Federal		(172)		4,286		(6,857)
Foreign		2,032		1,823		1,710
State		(686)		223		850
		1,174		6,332		(4,297)
	$	28,434	$	23,634	$	22,160

Schedule of Significant components of net deferred tax liability


	December 31,
	2014		2013
Deferred tax assets:
Accrued customer promotions	$	3,219	$	3,156
Deferred compensation		28,099		25,103
Postretirement benefits		4,895		3,847
Other accrued expenses		7,660		6,158
Foreign subsidiary tax loss carry forward		12,972		12,512
Tax credit carry forward		1,530		1,243
Realized capital losses		—		581
Unrealized capital loss		—		—
		58,375		52,600
Valuation allowance		(2,478)		(957)
Total deferred tax assets	$	55,897	$	51,643
Deferred tax liabilities:
Depreciation	$	31,520	$	33,129
Deductible goodwill and trademarks		43,960		42,073
Accrued export company commissions		5,555		5,391
Employee benefit plans		3,907		5,100
Inventory reserves		3,422		1,646
Prepaid insurance		867		785
Unrealized capital gain		2,364		709
Deferred gain on sale of real estate		8,168		8,234
Total deferred tax liabilities	$	99,763	$	97,067
Net deferred tax liability	$	43,866	$	45,424

Schedule of reconciliation of statutory and effective income tax rate


	2014		2013		2012
U.S. statutory rate	35.0	%	35.0	%	35.0	%
State income taxes, net	1.0		1.0		1.1
Exempt municipal bond interest	(0.5)		(0.4)		(0.5)
Foreign tax rates	(1.5)		(2.0)		(1.6)
Qualified domestic production activities deduction	(2.8)		(2.2)		(3.1)
Tax credits receivable	(0.6)		(0.9)		(0.9)
Adjustment of deferred tax balances	1.9		(1.1)		(0.5)
Reserve for uncertain tax benefits	—		(0.7)		(0.3)
Other, net	(1.4)		(0.7)		0.7
Effective income tax rate	31.1	%	28.0	%	29.9	%

Schedule of reconciliation of beginning and ending balances of total amounts of unrecognized tax benefits


	2014		2013		2012
Unrecognized tax benefits at January 1	$	6,010	$	6,677	$	6,804
Increases in tax positions for the current year		1,827		1,163		727
Increases in tax positions for new uncertain tax position		609		—		—
Reductions in tax positions for lapse of statute of limitations		(1,050)		(867)		(854)
Reductions in tax positions relating to settlements with taxing authorities		(403)		(140)		—
Reductions in tax positions for effective settlements		—		(823)		—
Unrecognized tax benefits at December 31	$	6,993	$	6,010	$	6,677

- 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.

+ References+ Details