Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of components of income tax expense

The income tax provision (benefit) for operations for the years ended December 31, 2012, 2011 and 2010 include the following components:

(Dollars in thousands)	2012			2011		2010
Current income taxes (benefits):
Federal	$	3,813		$	346	$	(936	)
State		1,383			98		(266	)
Deferred income taxes (benefits):
Federal		390			3,132		5,428
State		(203	)		1,466		139
Total income tax provision	$	5,383		$	5,042	$	4,365

Schedule of deferred tax assets and deferred tax liabilities

Deferred tax liabilities and assets are comprised of the following at December 31:

(Dollars in thousands)	2012			2011
Tax liabilities:
Depreciation and fixed assets	$	31,307		$	30,142
Intangible assets		9,092			8,800
Other		15			201
Gross deferred tax liability	$	40,414		$	39,143

Tax assets:
Deferred compensation and post-retirement benefits	$	5,480		$	7,922
Receivables and inventories		242			311
Accrued liabilities		1,146			814
Derivatives		968			983
State net operating loss		1,754			1,759
Other		20			19
Gross deferred tax asset		9,610			11,808
Valuation allowance		(1,574	)		(1,733	)
Net deferred tax liability		32,378			29,068
Current deferred tax asset		1,887			1,559
Net non-current deferred tax liability	$	34,265		$	30,627

Schedule of effective income tax rate reconciliation

The reconciliation of the U.S. income tax rate to the effective income tax rate for continuing operations is as follows:

	For Year Ended December 31
	2012			2011			2010
Statutory tax rate		35.0	%		35.0	%		35.0	%
Effect of:
State income taxes net of federal tax benefit		6.4			6.1			6.1
Release of income tax reserve and prior
Year adjustments		(0.8	)		(2.6	)		(16.3	)
Medicare part D subsidy		(0.1	)		0.0			1.6
Uncertain tax positions		0.1			0.1			0.4
Other, net		(1.3	)		(1.1	)		(1.0	)
Effective tax rate		39.3	%		37.5	%		25.8	%

Schedule of unrecognized tax benefits

The following roll-forward of unrecognized tax benefits excludes interest accrued on unrecognized tax benefits and is presented gross of any expected federal tax benefits related to unrecognized state tax benefits.

(Dollars in thousands)	2012			2011
Unrecognized tax benefits opening balance (excluding interest)	$	281		$	697
Increases:
Tax positions taken in current period		18			8
Tax position taken in prior periods		32			-
Decreases:
Settlements		(3	)		(15	)
Lapse of statute limitations		(14	)		(409	)
Ending balance (excluding interest)	$	314		$	281