Income Tax Disclosure [Abstract] | Period [Axis] |
---|
2016-01-01 - 2016-12-31 |
---|
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] |
| |
2016 | |
2015 | |
2014 |
Income (loss) before taxes | |
| | | |
| | | |
| | |
U.S | |
$ | 55,189 | | |
$ | 103,115 | | |
$ | 132,852 | |
Non-U.S | |
| (1,414 | ) | |
| (2,878 | ) | |
| (805 | ) |
| |
$ | 53,775 | | |
$ | 100,237 | | |
$ | 132,047 | |
|
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Income tax expense (benefit) consists of:
| |
Years Ended December 31, |
| |
2016 | |
2015 | |
2014 |
Current Provision: | |
| | | |
| | | |
| | |
Federal | |
$ | 6,875 | | |
$ | 23,023 | | |
$ | 26,502 | |
State | |
| 1,290 | | |
| 4,241 | | |
| 4,875 | |
Non-U.S | |
| (71 | ) | |
| (716 | ) | |
| (146 | ) |
| |
$ | 8,094 | | |
$ | 26,548 | | |
$ | 31,231 | |
Deferred Provision: | |
| | | |
| | | |
| | |
Federal | |
$ | 10,908 | | |
$ | 8,372 | | |
$ | 14,333 | |
State | |
| 638 | | |
| 1,527 | | |
| 2,614 | |
Non-U.S | |
| (12 | ) | |
| 14 | | |
| 11 | |
| |
| 11,534 | | |
| 9,913 | | |
| 16,958 | |
| |
$ | 19,628 | | |
$ | 36,461 | | |
$ | 48,189 | |
|
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The U.S. federal statutory income tax rate is reconciled to the effective income tax rate as follows:
| |
Years Ended December 31, |
| |
2016 | |
2015 | |
2014 |
| |
| |
| |
|
U.S. federal statutory income tax rate | |
| 35.0 | % | |
| 35.0 | % | |
| 35.0 | % |
U.S. state income taxes | |
| 2.3 | % | |
| 3.7 | % | |
| 3.7 | % |
Manufacturing incentives | |
| (1.8 | )% | |
| (2.6 | )% | |
| (2.3 | )% |
Tax rate differential on non-U.S. earnings | |
| 0.8 | % | |
| 0.3 | % | |
| 0.1 | % |
Other, net | |
| 0.2 | % | |
| – | | |
| – | |
| |
| 36.5 | % | |
| 36.4 | % | |
| 36.5 | % |
|
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The tax effects of temporary differences which give rise to future income tax benefits and expenses are as follows:
| |
December 31, |
| |
2016 | |
2015 |
Deferred tax assets: | |
| | | |
| | |
Net Operating Loss | |
$ | 12,560 | | |
$ | – | |
Accruals and Reserves | |
| 6,772 | | |
| 5,673 | |
Inventory | |
| 215 | | |
| 4,520 | |
Pension Obligation | |
| 13,086 | | |
| – | |
Other | |
| 141 | | |
| 184 | |
Total gross deferred tax assets | |
| 32,774 | | |
| 10,377 | |
Less: Valuation Allowance | |
| – | | |
| – | |
Total deferred tax assets | |
$ | 32,774 | | |
$ | 10,377 | |
| |
| | | |
| | |
Deferred tax liabilities: | |
| | | |
| | |
Property, plant & equipment | |
$ | (145,712 | ) | |
$ | (123,574 | ) |
Intangibles | |
| (1,262 | ) | |
| (1,713 | ) |
Total deferred tax liabilities | |
| (146,974 | ) | |
| (125,287 | ) |
| |
| | | |
| | |
Net deferred taxes | |
$ | (114,200 | ) | |
$ | (114,910 | ) |
|