Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes

Schedule of components of provision for income tax expense (benefit)

	Year ended December 31
	2014		2013		2012
Current:
Federal	$	17,347	$	712	$	(3,994)
State		1,774		(190)		289
		19,121		522		(3,705)
Deferred:
Federal		2,025		5,582		7,375
State		890		1,274		474
		2,915		6,856		7,849
	$	22,036	$	7,378	$	4,144

Schedule of reconciliation of income tax expense computed at the federal statutory rate to the provision for income taxes

	2014		2013		2012
Federal income tax expense at statutory rate	$	21,699	$	6,656	$	3,555
State taxes, net of federal benefit		1,694		236		218
Valuation allowance changes		-		-		451
Change in uncertain tax positions, net		8		8		8
Research and development credit		(249)		(305)		(26)
Rate change		366		758		67
Manufacturing tax benefits		(1,612)		(44)		-
Other		130		69		(129)
	$	22,036	$	7,378	$	4,144

Schedule of significant components of deferred tax liabilities and assets

	December 31,
	2014		2013
Deferred tax assets:
Allowance for doubtful accounts	$	619	$	401
Inventory reserves		775		638
Warranty liability		2,289		1,455
Deferred compensation		676		570
Earnout liabilities		1,347		1,531
Pension and retiree health benefit obligations		4,657		(869)
Accrued vacation		620		587
Medical claims reserve		155		263
State net operating losses		2,417		3,294
Other accrued liabilities		4,027		865
Valuation allowance for state net operating losses		(1,600)		(1,395)
Total deferred tax assets		15,982		7,340
Deferred tax liabilities:
Tax deductible goodwill and other intangibles		(52,409)		(45,872)
Accelerated depreciation		(5,978)		(2,040)
Other		(444)		(251)
Total deferred tax liabilities		(58,831)		(48,163)
Net deferred tax liabilities	$	(42,849)	$	(40,823)

Schedule of reconciliation of the beginning and ending liability for uncertain tax positions

	2014		2013
Balance at beginning of year	$	336	$	328
Increases for tax positions taken in the current year		248		-
Increases for tax position taken in prior years		8		8
Balance at the end of year	$	592	$	336