Income Taxes

3 Months Ended

Mar. 30, 2012

Income Taxes [Abstract]

Income Taxes

Note H — Income Taxes

The tax expense of $3.1 million in the first quarter 2012 was calculated by applying a rate of 33.4% against income before income taxes while the tax expense of $5.7 million in the first quarter 2011 was calculated by applying a rate of 32.4% against the income before income taxes in that period. The differences between the statutory and effective rates in both quarters was due to the impact of percentage depletion, the production deduction, executive compensation and state and local taxes and other factors.

In addition, discrete events, primarily a reduction in tax assets due to a change in the statutory rate in Japan, increased tax expense by approximately $0.1 million in the first quarter 2012. There were no material discrete events that affected the tax rate in the first quarter 2011.