Income taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income taxes

Note 8 – Income taxes:

The provision for income taxes and the difference between such provision for income taxes and the amount that would be expected using the U.S. federal statutory income tax rate of 21% are presented below. All of our pre-tax income relates to operations in the United States.

	Years ended December 31,
	2021		2022		2023
	(In thousands)
Income tax expense:
Currently payable	$	5,476	$	7,130	$	7,730
Deferred income tax benefit		(321)		(688)		(720)
Total	$	5,155	$	6,442	$	7,010
Expected tax expense, at the U.S. federal statutory   income tax rate of 21%	$	4,562	$	5,736	$	6,217
State income taxes		692		827		786
Other, net		(99)		(121)		7
Total income tax expense	$	5,155	$	6,442	$	7,010

Income taxes allocable to other comprehensive income (loss) related to marketable securities was nil in 2021 and insignificant in 2022 and 2023.

The components of the net deferred tax liability are summarized below.

	December 31,
	2022		2023
	(In thousands)
Tax effect of temporary differences related to:
Inventories	$	369	$	373
Property and equipment		(2,188)		(1,543)
Accrued liabilities and other deductible differences		51		43
Accrued employee benefits		1,262		1,343
Goodwill		(1,693)		(1,693)
Other taxable differences		(31)		(32)
Total deferred tax liability	$	(2,230)	$	(1,509)

We and Contran file income tax returns in U.S. federal and various state and local jurisdictions. Our income tax returns prior to 2020 are generally considered closed to examination by applicable tax authorities.