Rendering

Component: (Network and Table)
Network
2310301 - Disclosure - Income Taxes (Tables)
(http://www.alamo-group.com/role/IncomeTaxesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
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
The jurisdictional components of income before taxes consist of the following:
 
 
December 31,
(in thousands)
 
2016
 
2015
 
2014
Income before income taxes:
 
 
 
 
 
 
Domestic
 
$
44,446

 
$
52,313

 
$
43,345

Foreign
 
17,743

 
14,554

 
17,260

 
 
$
62,189

 
$
66,867

 
$
60,605

 
 
Schedule of Components of Income Tax Expense (Benefit)
The components of income tax expense (benefit) consist of the following:
 
 
December 31,
(in thousands)
 
2016
 
2015
 
2014
Current:
 
 
 
 
 
 
Domestic
 
$
11,958

 
$
13,293

 
$
13,495

Foreign
 
5,491

 
4,614

 
3,382

State
 
2,075

 
2,947

 
2,685

 
 
19,524

 
20,854

 
19,562

Deferred:
 
  

 
  

 
  

Domestic
 
1,580

 
3,481

 
(600
)
Foreign
 
934

 
(718
)
 
540

State
 
106

 
41

 
(48
)
 
 
2,620

 
2,804

 
(108
)
Total income taxes
 
$
22,144

 
$
23,658

 
$
19,454

 
 
Schedule of Effective Income Tax Rate Reconciliation
The difference between income tax expense (benefit) for financial statement purposes and the amount of income tax expense computed by applying the domestic statutory income tax rate of 35% to income before income taxes consists of the following:
 
 
 
December 31,
(in thousands)
 
2016
 
2015
 
2014
Domestic statutory rate at 35%
 
$
21,766

 
$
23,403

 
$
21,212

Increase (reduction) from:
 
 

 
 

 
 

Jurisdictional rate differences
 
(1,936
)
 
(2,192
)
 
(2,119
)
Valuation allowance
 
1,731

 
797

 
353

Stock based compensation
 
275

 
257

 
199

U.S. state taxes
 
1,295

 
1,942

 
1,649

Domestic production deduction
 
(618
)
 
(518
)
 
(1,321
)
R&D credit
 
(329
)
 
(475
)
 
(614
)
Other, net
 
(40
)
 
444

 
95

Provision for income taxes
 
$
22,144

 
$
23,658

 
$
19,454

Effective tax rate
 
36
%
 
35
%
 
32
%
 
 
Schedule of Deferred Tax Assets and Liabilities
The components of the Company’s deferred income tax assets and liabilities consist of the following:
 
 
December 31,
(in thousands)
 
2016
 
2015
Deferred income tax assets:
 
 
 
 
  Inventory basis difference
 
$
1,568

 
$
2,241

  Accounts receivable reserve
 
231

 
529

  Depreciation
 

 
110

  Stock based compensation
 
937

 
968

  Pension liability
 
3,947

 
2,481

  Employee benefit accrual
 
1,481

 
2,038

  Product liability and warranty reserves
 
1,600

 
1,517

  Expenses not currently deductible for tax purposes
 
28

 
60

  Foreign net operating loss
 
3,513

 
2,726

  State net operating loss
 
102

 
49

  Other
 
94

 
194

 
 
 
 
 
             Total deferred income tax assets
 
$
13,501

 
$
12,913

              Less: Valuation allowance
 
(3,382
)
 
(1,651
)
 
 
 
 
 
                 Net deferred income tax assets
 
$
10,119

 
$
11,262

 
 
 

 
 

Deferred income tax liabilities:
 
 

 
 

  Inventory basis differences
 
$
(16
)
 
$
(310
)
  Depreciation
 
(5,289
)
 
(4,624
)
  Intangible assets
 
(10,046
)
 
(7,934
)
  Deferred revenue
 

 

  Expenses not currently deductible for tax purposes
 
(593
)
 
(642
)
 
 


 


            Total deferred income tax liabilities
 
$
(15,944
)
 
$
(13,510
)
 
 
 
 
 
                 Net deferred income taxes
 
$
(5,825
)
 
$
(2,248
)
 
 
Schedule of Unrecognized Tax Benefits Roll Forward
 
 
 
December 31,
 
 
2016
 
2015
Balance as of beginning of year
 
$
301,000

 
$
388,000

Additions for tax positions related to the current year
 
51,000

 
63,000

Additions for tax positions related to prior years
 

 

Reduction due to lapse of statute of limitations
 
(117,000
)
 
(150,000
)
Balance as of end of year
 
$
235,000

 
$
301,000