Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Reconciliation of the Federal Statutory Income Tax Rate to the Company's Effective Tax Rate

A reconciliation of the federal statutory income tax rate to the Company’s effective tax rate is as follows:

	Percent of Income before Income Taxes
	2023			2022			2021
Statutory federal income tax rate		21.0	%		21.0	%		21.0	%
State income taxes - net of federal tax benefit		2.8			2.0			3.1
Foreign tax rate differential		1.5			0.6			1.3
Non-deductible expenses		0.4			0.4			0.4
Tax carryforward expiration		—			2.5			—
Changes in unrecognized tax benefits		—			(1.0	)		—
Valuation allowances		—			(2.3	)		—
Other		0.3			(0.3	)		(0.2	)
Effective tax rate for the year		26.0	%		22.9	%		25.6	%

Income (Loss) from Continuing Operations Before Income Taxes

Income before income taxes was attributable to the following sources:

	2023		2022		2021
United States	$	55,553	$	66,646	$	36,203
Foreign		10,503		11,564		8,890
Totals	$	66,056	$	78,210	$	45,093

Income Tax Expense (Benefit) from Continuing Operations

Income tax expense consisted of the following:

	Year ended December 31,
	2023		2022		2021
Current:
Federal	$	11,296	$	11,583	$	4,901
State and local		2,237		1,739		1,439
Foreign		2,617		2,549		2,389
Total current provision		16,150		15,871		8,729
Deferred:
Federal		617		1,675		2,534
State and local		62		230		345
Foreign		360		167		(53	)
Total deferred provision		1,039		2,072		2,826
Provision for income taxes	$	17,189	$	17,943	$	11,555

Significant Components of the Company's Deferred Taxes

Significant components of the Company’s deferred taxes as of December 31, 2023 and 2022 are as follows:

	2023			2022
Deferred income tax assets
Compensation accruals	$	2,487		$	2,449
Inventory valuation		2,515			1,553
Allowance for uncollectible accounts		672			510
Non-deductible accruals		4,040			4,137
Operating lease liability		6,025			5,932
Finance lease liability		1,934			1,981
Other deductible non-goodwill intangibles		5,473			5,369
State deferred taxes		—			32
Capital loss carryforwards		127			127
Net operating loss carryforwards		73			21
		23,346			22,111
Valuation allowance		(127	)		(127	)
		23,219			21,984
Deferred income tax liabilities
Property, plant and equipment		12,208			10,508
Goodwill and indefinite-lived intangibles		10,254			9,438
Right of use asset - operating leases		5,878			5,832
Finance lease assets		1,820			1,906
State deferred taxes		18			—
Other		1,492			1,679
		31,670			29,363
Net deferred income tax liability	$	(8,451	)	$	(7,379	)

Activity Related to the Company's Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits:

	2023		2022			2021
Balance at January 1	$	—	$	774		$	774
Increases related to previous year tax positions		—		—			—
Reductions due to lapse of applicable statute of limitations		—		(774	)		—
Balance at December 31	$	—	$	—		$	774