Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income tax expenses benefit

Income before income taxes and income taxes (benefit) are comprised of the following:

(Thousands)	2014			2013			2012
Income before income taxes:
Domestic	$	39,789		$	16,528		$	23,379
Foreign	14,381			7,267			10,263
Total income before income taxes	$	54,170		$	23,795		$	33,642
Income taxes:
Current income taxes:
Domestic	$	14,487		$	4,325		$	7,825
Foreign	3,457			2,205			3,615
Total current	$	17,944		$	6,530		$	11,440
Deferred income taxes (benefit):
Domestic	$	(4,604	)	$	(2,958	)	$	(3,084	)
Foreign	(553		)	319			(44		)
Valuation allowance	(338		)	197			666
Total deferred	$	(5,495	)	$	(2,442	)	$	(2,462	)
Total income taxes	$	12,449		$	4,088		$	8,978

Effective income tax rate reconciliation

The reconciliation of the federal statutory and effective income tax rates follows:

	2014		2013		2012
Federal statutory rate	35.0	%	35.0	%	35.0	%
State and local income taxes, net of federal tax effect	0.8		(0.8	)	(0.3	)
Effect of excess of percentage depletion over cost depletion	(5.1	)	(11.8	)	(7.3	)
Manufacturing production deduction	(2.5	)	(2.4	)	(2.2	)
Officers’ compensation	0.2		0.4		1.1
Adjustment to unrecognized tax benefits	0.3		0.3		(0.6	)
Foreign rate differential	(3.2	)	(3.1	)	(3.1	)
Research and experimentation tax credit	(1.3	)	(7.4	)	—
Retiree medical expense	—		—		(2.0	)
Valuation allowance	(0.6	)	2.2		4.0
Other items	(0.6	)	4.8		2.1
Effective tax rate	23.0	%	17.2	%	26.7	%

Deferred tax assets and liabilities

Deferred tax assets and (liabilities) recorded in the Consolidated Balance Sheets consist of the following:

	December 31,
(Thousands)	2014			2013
Asset (liability)
Post-employment benefits other than pensions	$	5,543		$	10,989
Other reserves	17,764			13,744
Environmental reserves	1,808			1,789
Inventory	4,808			3,934
Pensions	24,158			9,867
Net operating loss and credit carryforwards	5,714			5,588
Miscellaneous	345			303
Subtotal	60,140			46,214
Valuation allowance	(4,444		)	(4,782		)
Total deferred tax assets	55,696			41,432
Depreciation	(16,226		)	(18,669		)
Amortization	(7,001		)	(7,371		)
Capitalized interest expense	(141		)	(184		)
Mine development	(571		)	(2,309		)
Derivative instruments and hedging activities	(1,250		)	(130		)
Total deferred tax liabilities	(25,189		)	(28,663		)
Net deferred tax asset	$	30,507		$	12,769

Reconciliation of unrecognized tax benefits

A reconciliation of the Company’s unrecognized tax benefits for the year-to-date periods ending December 31, 2014 and 2013 is as follows:

(Thousands)	2014			2013
Balance as of January 1	$	1,679		$	1,767
Additions to tax provisions related to the current year	12			—
Additions to tax positions related to prior years	483			484
Reduction to tax positions related to prior years	—			(17		)
Lapses on statutes of limitations	(384		)	(555		)
Balance as of December 31	$	1,790		$	1,679