Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income (Loss) from Operations Before Income Taxes

ncome (loss) from operations before income taxes for the years ended December 31, 2022 and 2021 is summarized below. Income (loss) from operations before income taxes for certain foreign entities is classified differently for book reporting and income tax reporting purposes.

	2022		2021
Domestic	$	1,438	$	(9,223	)
Foreign		4,118		8,228
Income (loss) from operations before income taxes	$	5,556	$	(995	)

Summary of Income Tax Provision

The income tax provision for the years ended December 31, 2022 and 2021 consisted of the following:

	2022			2021
Current:
Federal	$	—		$	—
State		219			(16	)
Foreign		889			1,017
Current income tax provision		1,108			1,001
Deferred:
Federal		(3	)		(1,122	)
State		2,177			(937	)
Foreign		52			1,138
(Decrease) increase in valuation allowance		(1,758	)		2,225
Deferred income tax provision		468			1,304
Total income tax provision	$	1,576		$	2,305

Difference Between Statutory U.S. Federal Income Tax and the Corporation's Effective Income Tax

The difference between statutory U.S. federal income tax and the Corporation’s effective income tax for the years ended December 31, 2022 and 2021 was as follows:

	2022			2021
Computed at statutory rate	$	1,167		$	(209	)
State income taxes		(924	)		(949	)
Rate change		2,857			482
Tax differential on non-U.S. earnings		—			(49	)
GILTI inclusion		—			305
Stock-based compensation		183			152
Meals and entertainment		28			10
Adjustments to net operating losses		296			275
(Decrease) increase in valuation allowance		(1,758	)		2,225
Other – net		(273	)		63
Total income tax provision	$	1,576		$	2,305

Deferred Income Tax Assets and Liabilities

Deferred income tax assets and liabilities as of December 31, 2022 and 2021 are summarized in the following table.

	2022			2021
Assets:
Employment – related liabilities	$	4,931		$	7,378
Pension liability – domestic		5,873			7,984
Capital loss carryforwards		182			204
Asbestos-related liability		12,005			14,685
Net operating loss – domestic		12,224			13,156
Net operating loss – state		3,172			5,415
Net operating loss – foreign		8,504			9,666
Impairment charge associated with investment in MG		956			961
Operating lease right-of-use assets		855			980
Interest expense limitation		814			2,517
Sale-leaseback		9,784			—
Other		643			797
Gross deferred income tax assets		59,943			63,743
Valuation allowance		(31,981	)		(37,889	)
		27,962			25,854
Liabilities:
Depreciation		(24,085	)		(22,015	)
Inventory related		(1,576	)		(1,511	)
Pension asset – foreign		(808	)		(1,482	)
Intangible assets – finite life		(241	)		(565	)
Intangible assets – indefinite life		(453	)		(510	)
Operating lease liabilities		(855	)		(980	)
Other		(321	)		(664	)
Gross deferred income tax liabilities		(28,339	)		(27,727	)
Net deferred income tax liabilities	$	(377	)	$	(1,873	)