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INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2021
INCOME TAXES  
Schedule of domestic and foreign components of pretax income

    

2021

    

2020

    

2019

    

Domestic

$

77,434

$

69,211

$

74,978

Foreign

 

8,295

 

7,051

 

10,426

$

85,729

$

76,262

$

85,404

Schedule of components of provision of income taxes

    

2021

    

2020

    

2019

    

Current:

Federal

$

16,886

$

14,831

$

15,133

Foreign

 

1,983

 

1,029

 

State

 

2,822

 

1,763

 

2,942

 

21,691

 

17,623

 

18,075

Deferred:

Federal

 

(2,069)

 

(1,006)

 

(543)

Foreign

 

39

 

1,316

 

2,422

State

 

760

 

(645)

 

611

 

(1,270)

 

(335)

 

2,490

$

20,421

$

17,288

$

20,565

Schedule of significant components of net deferred tax liability

December 31,

    

2021

    

2020

    

Deferred tax assets:

Accrued customer promotions

$

2,107

$

1,506

Deferred compensation

 

22,311

 

18,501

Postretirement benefits

 

3,324

 

3,355

Other accrued expenses

 

5,158

 

3,078

Foreign subsidiary tax loss carry forward

 

4,497

 

4,508

Outside basis difference in foreign subsidiary

365

365

Deductible state tax depreciation

736

471

Tax credit carry forward

 

2,517

 

3,288

 

41,015

 

35,072

Valuation allowances

 

(5,555)

 

(5,593)

Total deferred tax assets

$

35,460

$

29,479

Deferred tax liabilities:

Depreciation

$

23,342

$

22,192

Deductible goodwill and trademarks

 

38,255

 

37,348

Accrued export company commissions

 

4,615

 

4,508

Employee benefit plans

 

525

 

1,767

Inventory reserves

 

2,532

 

1,994

Prepaid insurance

 

965

 

569

Unrealized capital gains

3,874

2,515

Deferred foreign exchange gain

132

179

Deferred gain on sale of real estate

 

5,309

 

5,269

Total deferred tax liabilities

$

79,549

$

76,341

Net deferred tax liability

$

44,089

$

46,862

Schedule of reconciliation of statutory and effective income tax rate

    

2021

    

2020

    

2019

    

U.S. statutory rate

 

21.0

%  

21.0

%  

21.0

%  

State income taxes, net

 

2.4

2.1

2.2

Exempt municipal bond interest

 

(0.1)

Foreign income tax rates

 

0.2

1.0

(0.1)

Income tax credits and adjustments

 

(0.6)

(1.4)

0.5

Adjustment of deferred tax balances

 

0.6

(0.2)

Reserve for uncertain tax benefits

 

(0.8)

0.4

Other, net

 

0.2

1.0

0.2

Effective income tax rate

 

23.8

%  

22.7

%  

24.1

%  

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

    

2021

    

2020

    

2019

    

Unrecognized tax benefits at January 1

$

3,011

$

3,678

$

3,339

Increases in tax positions for the current year

 

700

 

377

 

1,164

Reductions in tax positions for lapse of statute of limitations

 

(578)

 

(501)

 

(576)

Reductions in tax positions for settlements and payments

(308)

(249)

Increases (decreases) in prior period unrecognized tax benefits due to change in judgment

(235)

Unrecognized tax benefits at December 31

$

3,133

$

3,011

$

3,678