Income Taxes (Tables)
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12 Months Ended |
Dec. 31, 2017 |
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| Income Taxes |
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| Schedule of components of provision for income tax expense (benefit) |
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Year ended December 31
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2017
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2016
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2015
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Current:
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Federal
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$
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11,897
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$
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16,664
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$
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15,298
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State
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988
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1,866
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2,057
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12,885
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18,530
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17,355
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Deferred:
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Federal
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(17,264)
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4,930
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6,103
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State
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1,970
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1,227
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(1,371)
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(15,294)
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6,157
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4,732
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$
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(2,409)
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$
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24,687
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$
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22,087
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| Schedule of reconciliation of income tax expense computed at the federal statutory rate to the provision for income taxes |
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2017
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2016
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2015
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Federal income tax expense at statutory rate
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$
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18,520
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$
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22,294
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$
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23,192
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State taxes, net of federal benefit
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1,539
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2,547
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1,077
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Valuation allowance changes
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-
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(7)
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(1,028)
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Change in uncertain tax positions, net
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1,043
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50
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43
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Research and development credit
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(160)
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(274)
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(241)
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State rate change
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240
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64
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(30)
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Manufacturing tax benefits
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(933)
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(1,248)
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(1,302)
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Prior period adjustments
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-
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1,096
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-
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Federal deferred rate change
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(22,452)
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-
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-
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Other
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(206)
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165
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376
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$
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(2,409)
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$
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24,687
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$
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22,087
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| Schedule of significant components of deferred tax liabilities and assets |
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December 31,
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2017
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2016
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Deferred tax assets:
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Allowance for doubtful accounts
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$
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259
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$
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393
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Inventory reserves
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967
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1,111
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Warranty liability
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1,421
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2,244
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Deferred compensation
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781
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548
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Earnout liabilities
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694
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242
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Pension and retiree health benefit obligations
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3,242
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5,432
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Accrued vacation
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656
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866
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Medical claims reserve
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189
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72
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State net operating losses
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3,386
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2,853
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Other accrued liabilities
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2,092
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2,967
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Valuation allowance for state net operating losses
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(777)
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(640)
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Total deferred tax assets
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12,910
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16,088
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Deferred tax liabilities:
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Tax deductible goodwill and other intangibles
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(47,163)
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(63,324)
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Accelerated depreciation
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(5,084)
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(7,176)
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Other
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68
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(151)
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Total deferred tax liabilities
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(52,179)
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(70,651)
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Net deferred tax liabilities
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$
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(39,269)
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$
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(54,563)
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| Schedule of reconciliation of the beginning and ending liability for uncertain tax positions |
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2017
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2016
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2015
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Balance at beginning of year
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$
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2,361
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$
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490
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$
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464
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Increases for tax positions taken in the current year
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97
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73
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26
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Increases for tax positions taken in the prior years
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1,602
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1,809
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-
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Decreases due to settlements with taxing authorities
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(8)
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(11)
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-
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Decreases due to lapses in the statute of limitations
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(521)
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-
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-
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Balance at the end of year
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$
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3,531
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$
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2,361
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$
|
490
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