INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

INCOME TAXES

Schedule of domestic and foreign components of pretax income

	2019		2018		2017
Domestic	$	74,978	$	66,253	$	76,042
Foreign		10,426		6,953		8,519
	$	85,404	$	73,206	$	84,561

Schedule of components of provision of income taxes

	2019		2018		2017
Current:
Federal	$	15,133	$	12,414	$	6,019
State		2,942		1,421		369
		18,075		13,835		6,388
Deferred:
Federal		(543)		(577)		(7,191)
Foreign		2,422		2,685		3,425
State		611		458		1,285
		2,490		2,566		(2,481)
	$	20,565	$	16,401	$	3,907

Schedule of significant components of net deferred tax liability

	December 31,
	2019		2018
Deferred tax assets:
Accrued customer promotions	$	198	$	913
Deferred compensation		19,432		15,872
Postretirement benefits		3,439		3,119
Other accrued expenses		3,979		4,520
Foreign subsidiary tax loss carry forward		4,584		5,731
Outside basis difference in foreign subsidiary		365		273
Unrealized capital losses		—		472
Deductible state tax depreciation		512		390
Tax credit carry forward		3,059		2,989
		35,568		34,279
Valuation allowance		(4,985)		(3,892)
Total deferred tax assets	$	30,583	$	30,387
Deferred tax liabilities:
Depreciation	$	23,375	$	21,637
Deductible goodwill and trademarks		36,591		35,037
Accrued export company commissions		4,367		4,211
Employee benefit plans		2,700		3,539
Inventory reserves		2,526		2,784
Prepaid insurance		710		735
Unrealized capital gains		1,362		—
Deferred foreign exchange gain		260		577
Deferred gain on sale of real estate		5,298		5,286
Total deferred tax liabilities	$	77,189	$	73,806
Net deferred tax liability	$	46,606	$	43,419

Schedule of reconciliation of statutory and effective income tax rate

	2019		2018		2017
U.S. statutory rate	21.0	%	21.0	%	35.0	%
State income taxes, net	0.5		0.5		1.6
Exempt municipal bond interest	(0.1)		(0.1)		(0.1)
Foreign tax rates	1.4		2.1		0.5
Qualified domestic production activities deduction	—		—		(0.8)
Tax credits receivable	0.5		—		(1.4)
Adjustment of deferred tax balances	0.2		0.1		(24.2)
Reserve for uncertain tax benefits	0.4		(1.0)		(0.3)
Worthless stock deduction	—		—		(3.8)
Other, net	0.2		(0.2)		(1.9)
Effective income tax rate	24.1	%	22.4	%	4.6	%

Schedule of reconciliation of beginning and ending balances of total amounts of unrecognized tax benefits

	2019		2018		2017
Unrecognized tax benefits at January 1	$	3,339	$	4,342	$	4,746
Increases in tax positions for the current year		1,164		448		394
Reductions in tax positions for lapse of statute of limitations		(576)		(751)		(793)
Reductions in tax positions for settlements and payments		(249)		—		—
Increases (decreases) in prior period unrecognized tax benefits due to change in judgment		—		(700)		(5)
Unrecognized tax benefits at December 31	$	3,678	$	3,339	$	4,342