Rendering

Component: (Network and Table)
Network
100340 - Disclosure - Income Taxes (Tables)
(http://www.aeti.com/20161231/taxonomy/role/DisclosureIncomeTaxesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001043186 (http://www.sec.gov/CIK)
Income Tax Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Income Tax Disclosure [Abstract]
 
Components of income (loss) before income taxes and dividends on preferred stock

The components of income (loss) before income taxes and dividends on preferred stock for the years ended December 31, 2016 and 2015 were as follows:

 

 

2016

 

 

2015

 

 

(in thousands)

 

United States

$

(7,545)

 

 

$

(2,906)

 

Foreign

 

529

 

 

 

741

 

 

$

(7,016)

 

 

$

(2,165)

 

 

  
Components of provision (benefit) for income taxes by taxing authority

The components of the provision (benefit) for income taxes by taxing authority for the years ended December 31, 2016 and 2015 were as follows:

 

 

2016

 

 

2015

 

 

(in thousands)

 

Current provision:

 

 

 

 

 

 

 

Federal

$

-

 

 

$

443

 

Foreign

 

119

 

 

 

131

 

States

 

-

 

 

 

-

 

Total current provision

 

119

 

 

 

574

 

Deferred provision (benefit):

 

 

 

 

 

 

 

Federal

 

(24)

 

 

 

(114)

 

Foreign

 

-

 

 

 

-

 

States

 

(51)

 

 

 

(32)

 

Total deferred provision (benefit):

 

(75)

 

 

 

(146)

 

 

$

44

 

 

$

428

 

 

  
Components of deferred federal income taxes

Significant components of the Company’s deferred federal income taxes were as follows:

 

 

December 31,

 

 

December 31,

 

 

2016

 

 

2015

 

 

Non-Current

 

Deferred tax assets:

 

 

 

 

 

 

 

Accrued liabilities

$

15

 

 

$

22

 

Deferred compensation

 

1,113

 

 

 

936

 

Allowance for doubtful accounts

 

101

 

 

 

73

 

Inventory

 

83

 

 

 

73

 

Net operating loss

 

6,528

 

 

 

4,137

 

Property and equipment

 

143

 

 

 

123

 

Foreign tax credit carry forward

 

3,297

 

 

 

3,226

 

Deferred tax assets

 

11,280

 

 

 

8,590

 

Deferred tax liabilities:

 

 

 

 

 

 

 

Valuation allowance

 

(11,280

)

 

 

(8,590

)

Equity in foreign investments

 

(2,824

)

 

 

(2,755

)

Translation gain

 

-

 

 

 

(309

)

Deferred tax liabilities

 

(14,104

)

 

 

(11,654

)

Net deferred tax assets (liabilities)

 

(2,824

)

 

 

(3,064

)

 

  
Summary of difference between effective income tax rate determined by applying statutory income tax rate

The difference between the effective income tax rate reflected in the provision for income taxes and the amounts, which would be determined by applying the statutory income tax rate of 34%, is summarized as follows:

 

 

2016

 

 

2015

 

 

(in thousands)

 

(Provision for) benefit from U.S federal statutory rate

$

2,385

 

 

$

736

 

Effect of state income taxes

 

51

 

 

 

32

 

Non-deductible business meals and entertainment expenses

 

(11)

 

 

 

(16)

 

Foreign income taxes included in equity in earnings

 

140

 

 

 

269

 

Accrual to return adjustments and other

 

81

 

 

 

(653)

 

Change in valuation allowance

 

(2,690)

 

 

 

(796)

 

Total expense

$

(44)

 

 

$

(428)