Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes [Abstract]

Income before income taxes

For financial reporting purposes, income before income taxes includes the following components:

	Year Ended December 31
	2015				2014				2013
United States		$	57,846			$	57,651			$	53,315
Foreign			(5,873	)			(4,045	)			4,927
Income before income taxes		$	51,973			$	53,606			$	58,242

Provision for income tax

The provision for income taxes consists of the following:

	Year Ended December 31
	2015			2014			2013
Current provision (benefit):
Federal	$	19,758		$	18,713		$	16,239
State		2,553			2,992			2,785
Foreign		255			243			2,664
Total current provision		22,566			21,948			21,688
Deferred benefit:
Federal		(1,183	)		(1,627	)		(885	)
State		(275	)		(222	)		(923	)
Foreign		(1,101	)		(699	)		(852	)
Total deferred benefit		(2,559	)		(2,548	)		(2,660	)
Total provision (benefit):
Federal		18,575			17,086			15,354
State		2,278			2,770			1,862
Foreign		(846	)		(456	)		1,812
Total tax provision	$	20,007		$	19,400		$	19,028

Reconciliation of provision for income taxes at the statutory federal income tax rate

A reconciliation of the provision for income taxes at the statutory federal income tax rate to the amount provided is as follows:

	Year Ended December 31
	2015			2014			2013
Tax at the statutory federal income tax rate	$	18,191		$	18,762		$	20,385
Qualified production activity deduction		(1,174	)		(1,360	)		(1,395	)
State income tax, net of federal income tax		1,386			1,727			1,105
Other permanent differences		393			840			464
Research and development tax credits		(291	)		(1,323	)		(2,054	)
Change in valuation allowance		2,036			1,675			810
Other items		(534	)		(921	)		(287	)
Total tax provision	$	20,007		$	19,400		$	19,028

Significant components of company's deferred tax assets and liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:

	December 31
	2015			2014
Deferred tax assets:
Inventory reserves	$	6,696		$	6,539
Warranty reserves		2,774			2,988
Bad debt reserves		409			598
State tax loss carryforwards		3,006			2,377
Accrued vacation		2,055			2,060
SERP		275			1,231
Deferred compensation		1,328			1,255
Restricted stock units		1,893			2,256
Foreign exchange gains/losses		4,549			3,111
Pension and post-employment benefits		2,232			2,197
Foreign deferred tax assets		2,773			3,311
Foreign net operating losses		5,134			3,168
Other		3,460			3,267
Valuation allowances		(8,065	)		(6,029	)
Total deferred tax assets		28,519			28,329
Deferred tax liabilities:
Property and equipment		17,616			19,394
Amortization		1,019			1,087
Goodwill		1,917			2,014
Pension		1,305			1,313
Foreign tax rate differential		--			2,236
Foreign deferred tax liabilities		2,815			3,820
Total deferred tax liabilities		24,672			29,864
Total net deferred assets (liabilities)	$	3,847		$	(1,535	)

Reconciliation of unrecognized tax benefit

A reconciliation of the beginning and ending unrecognized tax benefits excluding interest and penalties is as follows:

	Year Ended December 31
	2015			2014		2013
Balance, beginning of year	$	2,585		$	1,933	$	2,095
Additions for tax positions related to the current year		206			127		102
Additions for tax positions related to prior years		549			525		128
Reductions due to lapse of statutes of limitations		(162	)		--		(149	)
Decreases related to settlements with tax authorities		(2,575	)		--		(243	)
Balance, end of year	$	603		$	2,585	$	1,933