Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes [Abstract]

Income before income taxes

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

	Year Ended December 31
	2017			2016				2015
United States		$	55,980		$	87,326			$	57,846
Foreign			1,237			(231	)			(5,873	)
Income before income taxes		$	57,217		$	87,095			$	51,973

Provision for income tax

The provision for income taxes consists of the following:

	Year Ended December 31
	2017			2016			2015
Current provision:
Federal	$	16,178		$	30,623		$	19,758
State		2,866			4,098			2,553
Foreign		874			907			255
Total current provision		19,918			35,628			22,566
Deferred provision (benefit):
Federal		107			(2,653	)		(1,183	)
State		(455	)		(1,213	)		(275	)
Foreign		57			345			(1,101	)
Total deferred benefit		(291	)		(3,521	)		(2,559	)
Total provision (benefit):
Federal		16,285			27,970			18,575
State		2,411			2,885			2,278
Foreign		931			1,252			(846	)
Total income tax provision	$	19,627		$	32,107		$	20,007

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
	2017			2016			2015
Tax at the statutory federal income tax rate	$	20,026		$	30,483		$	18,191
Qualified production activity deduction		(1,661	)		(1,641	)		(1,174	)
State income tax, net of federal income tax		1,520			1,876			1,386
Other permanent differences		551			673			393
Research and development tax credits		(855	)		(785	)		(291	)
Valuation allowance impact		1,585			1,638			2,036
U.S. Tax Reform impact		(1,056	)		--			--
Other items		(483	)		(137	)		(534	)
Total income tax provision	$	19,627		$	32,107		$	20,007

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
	2017			2016
Deferred tax assets:
Inventory reserves	$	4,287		$	8,507
Warranty reserves		3,560			4,527
Bad debt reserves		299			456
State tax loss carryforwards		2,710			3,403
Accrued vacation		1,712			2,351
SERP		367			299
Deferred compensation		1,293			2,124
Restricted stock units		1,664			1,845
Pension and post-employment benefits		1,448			2,530
Foreign net operating losses		6,310			5,461
Other		2,478			2,516
Valuation allowances		(8,318	)		(8,280	)
Total deferred tax assets		17,810			25,739
Deferred tax liabilities:
Property and equipment		14,562			20,167
Intangibles		769			1,244
Goodwill		654			1,605
Pension		758			1,205
Outside basis differences		--			511
Total deferred tax liabilities		16,743			24,732
Total net deferred assets	$	1,067		$	1,007

Deferred tax assets valuation allowance

The following table represents a roll forward of the deferred tax asset valuation allowance for the years ended December 31, 2017, 2016 and 2015:

	Year Ended December 31
	2017			2016			2015
Allowance balance, beginning of year	$	8,280		$	8,065		$	6,029
Provision		1,585			1,639			2,036
Write-offs		(1,862	)		(289	)		--
Other		315			(1,135	)		--
Allowance balance, end of year	$	8,318		$	8,280		$	8,065

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
	2017		2016			2015
Balance, beginning of year	$	238	$	603		$	2,585
Additions for tax positions related to the current year		127		73			206
Additions for tax positions related to prior years		--		162			549
Reductions due to lapse of statutes of limitations		--		(16	)		(162	)
Decreases related to settlements with tax authorities		--		(584	)		(2,575	)
Balance, end of year	$	365	$	238		$	603