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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Reconciliation of Company's Effective Tax Rate to U.S. Federal Statutory Rate | A reconciliation of the Company’s effective tax rate to the U.S. federal statutory rate is as follows:
|  | Years Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
U.S. federal statutory tax rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
Federal tax credits |  |  | (1.5 | ) |  |  | (0.7 | ) |  |  | (1.5 | )
State income taxes, net of credits and net of federal benefit |  |  | (0.3 | ) |  |  | 1.5 |  |  |  | 1.1 |
Effect of foreign operations taxed at various rates |  |  | (6.8 | ) |  |  | (4.5 | ) |  |  | (5.0 | )
Executive compensation |  |  | 1.5 |  |  |  | 0.9 |  |  |  | 1.1 |
Foreign derived intangible income deduction |  |  | (4.8 | ) |  |  | (1.7 | ) |  |  | (1.5 | )
Global intangible low taxed income, net of foreign tax credits |  |  | 3.6 |  |  |  | 0.5 |  |  |  | 0.9 |
Stock-based compensation |  |  | 0.3 |  |  |  | (0.5 | ) |  |  | (0.7 | )
Deferred tax asset valuation allowance |  |  | (0.4 | ) |  |  | (0.8 | ) |  |  | 0.6 |
Change in income tax reserves (including interest) |  |  | 0.8 |  |  |  | (0.6 | ) |  |  | — |
Withholding taxes on foreign dividends, net of foreign tax credits |  |  | 10.7 |  |  |  | 1.5 |  |  |  | 0.7 |
Other |  |  | (1.0 | ) |  |  | 0.4 |  |  |  | 0.5 |
|  |  | 23.1 | % |  |  | 17.1 | % |  |  | 17.2 | %
Components of Income Before Income Taxes and Related Provision (benefit) for Income Taxes | The components of income before income taxes and the related provision (benefit) for income taxes consist of the following:
|  | Years Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Income before income taxes: |  |  |  |  |  |  |  |  |
United States |  | $ | (90 | ) |  | $ | 249 |  |  | $ | 132 |
Foreign |  |  | 523 |  |  |  | 416 |  |  |  | 291 |
|  | $ | 433 |  |  | $ | 665 |  |  | $ | 423 |
Current taxes: |  |  |  |  |  |  |  |  |
United States |  | $ | 40 |  |  | $ | 38 |  |  | $ | 29 |
State |  |  | 7 |  |  |  | 10 |  |  |  | 6 |
Foreign |  |  | 99 |  |  |  | 64 |  |  |  | 45 |
|  |  | 146 |  |  |  | 112 |  |  |  | 80 |
Deferred taxes: |  |  |  |  |  |  |  |  |
United States |  |  | (68 | ) |  |  | 5 |  |  |  | (8 | )
State and Foreign |  |  | 22 |  |  |  | (3 | ) |  |  | 1 |
|  |  | (46 | ) |  |  | 2 |  |  |  | (7 | )
Provision for income taxes |  | $ | 100 |  |  | $ | 114 |  |  | $ | 73 |
Significant Components of Deferred Tax Assets and Deferred Tax Liabilities | The significant components of the deferred tax assets and deferred tax liabilities are as follows:
|  | December 31, |
|  | 2022 |  |  | 2021 |
Deferred tax assets: |  |  |  |  |  |
Interest, loss, and credit carryforwards |  | $ | 224 |  |  | $ | 49 |
Inventory and warranty reserves |  |  | 50 |  |  |  | 37 |
Accrued expenses and other reserves |  |  | 22 |  |  |  | 16 |
Stock-based compensation |  |  | 3 |  |  |  | 4 |
Executive supplemental retirement benefits |  |  | 1 |  |  |  | 1 |
Capitalized research expenditures |  |  | 31 |  |  |  | — |
Loan costs |  |  | 9 |  |  |  | — |
Lease liability |  |  | 55 |  |  |  | 45 |
Other |  |  | 4 |  |  |  | 1 |
Total deferred tax assets |  | $ | 399 |  |  | $ | 153 |
Deferred tax liabilities: |  |  |  |  |  |
Acquired intangible assets and goodwill |  | $ | (781 | ) |  | $ | (137 | )
Depreciation and amortization |  |  | (62 | ) |  |  | (23 | )
Loan costs |  |  | — |  |  |  | (2 | )
Right-of-use asset |  |  | (55 | ) |  |  | (41 | )
Foreign withholding taxes |  |  | (56 | ) |  |  | (6 | )
Unrealized gain |  |  | (14 | ) |  |  | (2 | )
Total deferred tax liabilities |  |  | (968 | ) |  |  | (211 | )
Valuation allowance |  |  | (181 | ) |  |  | (26 | )
Net deferred tax liabilities |  | $ | (750 | ) |  | $ | (84 | )
Reconciliation of Beginning and Ending Amount of Gross Unrecognized Tax Benefits, Excluding Interest and Penalties | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, excluding interest and penalties, is as follows:
|  | Years Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Balance at beginning of year |  | $ | 43 |  |  | $ | 47 |  |  | $ | 44 |
Increases for tax positions taken during prior years |  |  | 35 |  |  |  | — |  |  |  | 1 |
Increases for tax positions taken during the current year |  |  | 9 |  |  |  | 2 |  |  |  | 6 |
Reductions related to expiration of statutes of limitations and audit settlements |  |  | (4 | ) |  |  | (6 | ) |  |  | (4 | )
Balance at end of year |  | $ | 83 |  |  | $ | 43 |  |  | $ | 47 |

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
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