Note 17 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	2020			2019		2018
U.S. operations	$	46.6		$	50.1	$	23.9
Foreign operations		(5.5	)		3.9		11.9
Total	$	41.1		$	54.0	$	35.8

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2020			2019			2018
Current:
Federal	$	4.2		$	9.6		$	3.7
Foreign		3.8			5.6			7.0
State		1.8			2.1			1.0
	$	9.8		$	17.3		$	11.7
Deferred:
Federal	$	4.4		$	(2.4	)	$	(3.1	)
Foreign		(6.9	)		(6.7	)		(6.0	)
State		0.1			(0.1	)		(0.3	)
	$	(2.4	)	$	(9.2	)	$	(9.4	)
Total:
Federal	$	8.6		$	7.2		$	0.6
Foreign		(3.1	)		(1.1	)		1.0
State		1.9			2.0			0.7
Total Income Tax Expense	$	7.4		$	8.1		$	2.3

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2020			2019			2018
Tax at statutory rate		21.0	%		21.0	%		21.0	%
(Decreases) increases in the tax rate from:
State and local taxes, net of federal benefit		3.5			1.9			1.4
Effect of foreign operations		(3.7	)		3.5			(4.3	)
Transaction costs		—			0.1			(4.2	)
Effect of 2017 deferred rate change		—			—			(1.0	)
Transition Tax		—			—			(1.0	)
Effect of changes in valuation allowances		0.5			(9.7	)		6.6
Domestic production activities deduction		—			(0.3	)		0.4
Executive compensation over $1 million		2.1			2.5			1.0
Share-based payments		(0.9	)		(2.0	)		(5.7	)
Research & Development credit		(3.3	)		(1.9	)		(3.6	)
Other, net		(1.3	)		—			(4.2	)
Effective income tax rate		17.9	%		15.1	%		6.4	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2020			2019
Deferred Tax Assets:
Inventory costing and valuation methods	$	4.5		$	4.6
Employee wages and benefits, principally due to accruals for financial reporting purposes		14.0			13.7
Warranty reserves accrued for financial reporting purposes		2.3			2.5
Receivables, principally due to allowance for doubtful accounts and tax accounting method for equipment rentals		2.3			1.9
Operating lease liability		11.2			11.4
Tax loss carryforwards		9.6			6.6
Tax credit carryforwards		3.6			3.2
Other		2.5			3.2
Gross Deferred Tax Assets	$	50.0		$	47.1
Less: valuation allowance		(7.5	)		(6.2	)
Total Net Deferred Tax Assets	$	42.5		$	40.9
Deferred Tax Liabilities:
Lease right of use assets	$	11.2		$	11.4
Property, Plant and Equipment, principally due to differences in depreciation and related gains		14.0			10.2
Goodwill and Intangible Assets		41.5			43.4
Total Deferred Tax Liabilities	$	66.7		$	65.0
Net Deferred Tax Liabilities	$	(24.2	)	$	(24.1	)

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	2020			2019
Balance at January 1	$	7.5		$	5.6
Increases as a result of tax positions taken during a prior period		0.3			0.1
Increases as a result of tax positions taken during the current year		0.4			0.5
Increase related to prior period tax positions of acquired entities		—			2.5
Decreases relating to settlement with tax authorities		(0.8	)		(0.1	)
Reductions as a result of a lapse of the applicable statute of limitations		(1.4	)		(1.0	)
Increases as a result of foreign currency fluctuations		0.4			(0.1	)
Balance at December 31	$	6.4		$	7.5