Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The jurisdictional components of income before taxes consist of the following:

	December 31,
(in thousands)	2012		2011		2010
Income before income taxes:
Domestic	$	29,390	$	28,109	$	15,639
Foreign	14,056		20,020		13,393
	$	43,446	$	48,129	$	29,032

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) consist of the following:

	December 31,
(in thousands)	2012			2011		2010
Current:
Domestic	$	9,273		$	7,771	$	8,995
Foreign	4,919			5,682		3,851
State	756			1,139		1,453
	14,948			14,592		14,299
Deferred:
Domestic	(192		)	397		(5,308		)
Foreign	(363		)	331		(284		)
State	150			122		(792		)
	(405		)	850		(6,384		)
Total income taxes	$	14,543		$	15,442	$	7,915

Schedule of Effective Income Tax Rate Reconciliation

The difference between income tax expense (benefit) for financial statement purposes and the amount of income tax expense computed by applying the domestic statutory income tax rate of 35% to income loss before income taxes consist of the following:

	December 31,
(in thousands)	2012			2011			2010
Domestic statutory rate at 35% (34% for 2011 and 2010)	$	15,206		$	16,364		$	9,871
Increase (reduction) from:
Jurisdictional rate differences	(1,477		)	(1,315		)	(986		)
Goodwill impairment	157			633			—
Valuation allowance	825			—			—
Stock based compensation	214			161			135
U.S. state taxes	589			740			436
Domestic Production Deduction	(948		)	(796		)	(744		)
R&E Credit	(130		)	(252		)	(1,068		)
Other, net	107			(93		)	271
Provision for income taxes	$	14,543		$	15,442		$	7,915
Effective tax rate	33		%	32		%	27		%

Schedule of Deferred Tax Assets and Liabilities

The components of the Company’s deferred income tax assets and liabilities consist of the following:

	December 31,
(in thousands)	2012			2011
Deferred income tax assets:
Inventory basis difference	$	1,475		$	1,464
Accounts receivable reserve	299			320
Stock based compensation	614			518
Pension liability	3,595			3,839
Employee benefit accrual	459			382
Environmental reserve	—			450
Product liability and warranty reserves	1,120			797
Expenses not deductible for tax purposes	487			—
Foreign net operating loss	1,608			374
State net operating loss	82			279
Other	3			—
Total deferred income tax assets	$	9,742		$	8,423
Less: Valuation allowance	(825		)	—
Net deferred income tax assets	$	8,917		$	8,423
Deferred income tax liabilities:
Inventory basis differences	$	(253	)	$	(246	)
Depreciation	(2,867		)	(3,924		)
Intangible assets	(1,011		)	(710		)
Deferred revenue	(135		)	(218		)
Expenses not deductible for tax purposes	(777		)	(397		)
Total deferred income tax liabilities	$	(5,043	)	$	(5,495	)
Net deferred income tax assets	$	3,874		$	2,928

Schedule of Unrecognized Tax Benefits Roll Forward

	December 31,
	2012		2011
Balance as of beginning of year	$	235,000	$	193,000
Additions for tax positions related to the current year	—		42,000
Additions for tax positions related to prior years	22,000		—
Balance as of end of year	$	257,000	$	235,000