Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Components of income (loss) from continuing operations before income taxes and noncontrolling shareholders’ interests were as follows:

The provision (benefit) for income tax for continuing operations consisted of the following:

A reconciliation of income tax expense (benefit) for continuing operations to the tax based on the U.S. statutory rate is as follows:



	2019			2018			2017
Income tax provision at 35 percent	$	—		$	—		$	85,375
Income tax provision at 21 percent	23,031			23,952			—
Difference in effective tax rates of international operations	(21,399		)	(1,124		)	(4,667		)
State and local income tax, net of federal income tax effect	(2,366		)	2,983			7,867
Net U.S. GILTI inclusion	8,419			1,455			—
Valuation allowance	6,306			(2,433		)	11,593
Income tax contingencies, net of federal income tax effect	4,246			1,263			(551		)
Domestic manufacturing deduction	—			—			(2,940		)
U.S. tax credits	(6,292		)	(4,401		)	(2,474		)
Goodwill impairment	—			8,432			—
Mexico inflationary deferred tax adjustments	(1,790		)	259			(1,383		)
U.S. tax reform - transition tax	1,661			5,026			35,378
U.S. tax reform - remeasurement of deferred taxes	—			(3,576		)	20,413
Other - net	(461		)	1,659			(1,431		)
Provision for income taxes	$	11,355		$	33,495		$	147,180

Significant components of the Company’s deferred tax assets and liabilities at December 31 were as follows:



	2019			2018
Deferred tax assets:
Postretirement and other employee benefits	$	94,581		$	97,269
Product liability	30,791			27,922
Net operating loss, capital loss, and tax credit carryforwards	14,291			11,064
All other items	37,296			29,375
Total deferred tax assets	176,959			165,630
Deferred tax liabilities:
Property, plant and equipment	(117,148		)	(108,668		)
All other items	(6,141		)	(6,196		)
Total deferred tax liabilities	(123,289		)	(114,864		)
	53,670			50,766
Valuation allowances	(27,270		)	(22,620		)
Net deferred tax asset	$	26,400		$	28,146



	Unrecognized Tax Benefits
Balance at December 31, 2016	$	3,197
Settlements for tax positions of prior years	(139		)
Additions for tax positions of current year	47
Additions for tax positions of prior years	438
Statute lapses	(1,260		)
Balance at December 31, 2017	2,283
Settlements for tax positions of prior years	(364		)
Additions for tax positions of the current year	2,555
Additions for tax positions of prior years	2,881
Statute lapses	(830		)
Balance at December 31, 2018	6,525
Settlements for tax positions of prior years	(1,567		)
Additions for tax positions of the prior year	5,644
Statute lapses	(668		)
Balance at December 31, 2019	$	9,934