INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

INCOME TAXES

Schedule of domestic and foreign components of pretax income

	2018		2017		2016
Domestic	$	66,253	$	76,042	$	87,016
Foreign		6,953		8,519		10,896
	$	73,206	$	84,561	$	97,912

Schedule of components of provision of income taxes

	2018		2017		2016
Current:
Federal	$	12,414	$	6,019	$	28,484
Foreign		—		—		86
State		1,421		369		1,954
		13,835		6,388		30,524
Deferred:
Federal		(577)		(7,191)		(2,547)
Foreign		2,685		3,425		3,323
State		458		1,285		(707)
		2,566		(2,481)		69
	$	16,401	$	3,907	$	30,593

Schedule of significant components of net deferred tax liability

	December 31,
	2018		2017
Deferred tax assets:
Accrued customer promotions	$	913	$	1,583
Deferred compensation		15,872		15,403
Postretirement benefits		3,119		3,352
Other accrued expenses		4,520		4,200
Foreign subsidiary tax loss carry forward		5,731		7,270
Outside basis difference in foreign subsidiary		273		—
Unrealized capital losses		472		—
Deductible state tax depreciation		390		—
Tax credit carry forward		2,989		3,435
		34,279		35,243
Valuation allowance		(3,892)		(3,269)
Total deferred tax assets	$	30,387	$	31,974
Deferred tax liabilities:
Depreciation	$	21,637	$	18,791
Deductible goodwill and trademarks		35,037		34,593
Accrued export company commissions		4,211		4,189
Employee benefit plans		3,539		4,662
Inventory reserves		2,784		2,147
Prepaid insurance		735		769
Other prepaid expenses		—		1,196
Deferred foreign exchange gain		577		405
Unrealized capital gain		—		977
Deferred gain on sale of real estate		5,286		5,278
Total deferred tax liabilities	$	73,806	$	73,007
Net deferred tax liability	$	43,419	$	41,033

Schedule of reconciliation of statutory and effective income tax rate

	2018		2017		2016
U.S. statutory rate	21.0	%	35.0	%	35.0	%
State income taxes, net	0.5		1.6		1.0
Exempt municipal bond interest	(0.1)		(0.1)		(0.1)
Foreign tax rates	2.1		0.5		(0.4)
Qualified domestic production activities deduction	—		(0.8)		(2.7)
Tax credits receivable	—		(1.4)		(0.5)
Adjustment of deferred tax balances	0.1		(24.2)		(0.5)
Reserve for uncertain tax benefits	(1.0)		(0.3)		—
Worthless stock deduction	—		(3.8)		—
Other, net	(0.2)		(1.9)		(0.6)
Effective income tax rate	22.4	%	4.6	%	31.2	%

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

	2018		2017		2016
Unrecognized tax benefits at January 1	$	4,342	$	4,746	$	4,680
Increases in tax positions for the current year		448		394		803
Reductions in tax positions for lapse of statute of limitations		(751)		(793)		(718)
Reductions in tax positions relating to settlements with taxing authorities		—		—		(27)
Increases (decreases) in prior period unrecognized tax benefits due to change in judgment		(700)		(5)		8
Unrecognized tax benefits at December 31	$	3,339	$	4,342	$	4,746