v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income Before Income Taxes
Income before income taxes was derived from the following sources:
 202520242023
United States$22,395 $19,476 $57,736 
Foreign23,225 31,294 24,608 
Total income before income taxes$45,620 $50,770 $82,344 
Schedule of Components of Income Taxes
The components of income taxes for the years ended December 31 are as follows:
 202520242023
Current      
Federal$4,633 $2,646 $12,263 
Foreign6,140 9,613 6,654 
State and local716 316 2,322 
 11,489 12,575 21,239 
Deferred      
Federal(506)2,139 (1,866)
Foreign(431)(1,507)11 
State and local(239)452 (377)
 (1,176)1,084 (2,232)
Income taxes$10,313 $13,659 $19,007 
Schedule of Differences Between the Provision for Income Taxes at the U.S. Federal Statutory Rate and the Tax
A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to income before income taxes after the adoption of ASU 2023-09 is as follows:
Amount Percent
US Federal Statutory Tax Rate$9,59421.0%
State and Local Tax, net of Federal Benefit (a)
3260.6
Foreign Tax Effects1,5833.5
Effect of Changes in Tax Laws or Rates Enacted in the Current Period——
Tax Credits:
Foreign Tax Credits(682)(1.5)
Other(56)(0.1)
Effect of Cross Border Tax Laws:
Global intangible low taxed income4371.0
Other(99)(0.2)
Valuation Allowances1490.3
Non-Taxable or Nondeductible items:
Non-deductible Officers' Compensation1,7153.8
Excess Tax Benefit from RSUs(1,186)(2.6)
Other9—
Changes in Unrecognized Tax Benefits340.1
Other Adjustments:
Pension Termination(1,414)(3.1)
Other(97)(0.2)
Effective Tax Rate$10,31322.6%
(a) State taxes in Arkansas and Texas make up the majority (greater than 50 percent) of the tax effect in this category.
A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to income before income taxes prior to the adoption of ASU 2023-09 is as follows:
 20242023
Federal tax at statutory rate21.0%21.0%
Non-deductible officers' compensation4.01.5
Non-U.S. tax rate variances3.22.0
Global intangible low-taxed income2.33.6
Other, net1.8(0.4)
Valuation allowance0.50.7
State and local taxes, net of federal benefit0.52.2
Uncertain tax positions0.1—
Other U.S. federal permanent items(0.1)(0.2)
U.S. tax credits(0.8)(1.3)
Other stock compensation(2.4)(1.5)
Foreign tax credits(3.2)(4.5)
Effective income tax rate26.9%23.1%
Schedule of Income Taxes Paid
202520242023
Federal$1,909 $4,500 $11,412 
State and Local(353)1,085 1,887 
Foreign9,869 7,518 8,572 
Total Income Taxes Paid$11,425 $13,103 $21,871 
Income taxes paid (net of refunds) exceeded five percent of total income taxes paid (net of refunds) in the following jurisdictions:
2025
Foreign
Australia$1,492 
Brazil1,670 
Mexico705 
United Kingdom994 
China609 
Canada1,300 
Indonesia819 
Spain671 
New Zealand575 
South Africa1,091 
Schedule of Significant Components of Deferred Tax Assets and Liabilities Significant components of our deferred tax assets and liabilities were as follows:
 20252024
Deferred tax assets:    
Benefit plan reserves$6,962 $5,947 
Inventory valuation reserves4,885 3,077 
Research and development capitalization3,169 6,483 
Net operating loss carryforwards2,209 1,967 
Other accrued expenses1,982 2,128 
Foreign tax credit1,337 1,337 
Accrued compensation and benefits1,279 1,147 
Allowance for credit losses711 1,298 
Other424 56 
Gross deferred tax assets22,958 23,440 
Valuation allowance(2,009)(2,725)
Net deferred tax assets20,949 20,715 
     
Deferred tax liabilities:    
Depreciation and other basis differences(15,896)(15,179)
Intangibles(2,166)(2,003)
Other(1,113)(753)
Deferred tax liabilities(19,175)(17,935)
Net deferred tax assets$1,774 $2,780 
 20252024
Change in net deferred tax assets:
Ordinary movement$1,176 $(1,084)
Pension Termination(2,018)— 
Items of other comprehensive loss— 267 
Deferred tax balances from business acquisitions(359)— 
Currency translation192 24 
Other3 — 
Total change in net deferred tax assets$(1,006)$(793)
Schedule of Changes in Unrecognized Tax Benefits Excluding Interest and Penalties
The following is a tabular reconciliation of the total amounts of unrecognized tax benefits related to uncertain tax positions, excluding interest and penalties, for the year ended December 31:
 202520242023
Balance at January 1$410 $410 $482 
Additions for tax positions of prior years— — — 
Settlements with tax authorities— — (72)
Expiration of statutes of limitations— — — 
Balance at December 31$410 $410 $410