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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income from continuing operations before income tax expense consisted of the following (in thousands):

			Year Ended December 31,
			2025						2024						2023
Domestic			73,505						35,253						16,039
Foreign			109,297						96,236						119,309
			182,802						131,489						135,348

Constituents of Provision for Income Taxes

Income tax expense consisted of the following (in thousands):

			Year Ended December 31,
			2025						2024						2023
Current:
Federal			$	4,576					$	28,009					$	29,084
State			4,440						4,524						3,544
Foreign			19,647						12,795						9,207
			28,663						45,328						41,835
Deferred:
Federal			30,481						(22,273)						(24,731)
State			668						(1,324)						(5,877)
Foreign			8,548						3,587						10,887
			39,697						(20,010)						(19,721)
			$	68,360					$	25,318					$	22,114

Reconciliation of the United States Federal Statutory Corporate Tax Rate to the Company's Effective Tax Rate or Income Tax Provision

A reconciliation of the U.S. federal statutory corporate tax rate to the Company’s income tax expense, or effective tax rate, presented in accordance with the prospectively adopted ASU 2023-09, was as follows for the year ended December 31, 2025:

			Year Ended December 31, 2025
			$						%
U.S. federal statutory income tax rate			$38,397						21.0		%
State and local tax effects (1)			3,629						2.0		%
Foreign tax effects
Ireland
Foreign rate differential			(4,355)						(2.4)		%
Transfer pricing adjustment			2,185						1.2		%
Other			594						0.3		%
Japan			1,325						0.7		%
Germany			1,232						0.7		%
China			2,421						1.3		%
Other jurisdictions			688						0.4		%
Tax on Unremitted Foreign Earnings			(414)						(0.2)		%
Changes in tax rate due to new enacted law			33,237						18.2		%
Cross-border tax laws
Net CFC Tested Income			4,112						2.2		%
Foreign tax credits			(16,257)						(8.9)		%
Other			302						0.2		%
Tax credits
R&D tax credits			(3,186)						(1.7)		%
Valuation allowance changes			272						0.1		%
Non-taxable items
Share based compensation			4,370						2.4		%
Other			576						0.3		%
Unrecognized tax benefits			(1,055)						(0.6)		%
All other adjustments not categorized			287						0.2		%
Total worldwide effective tax expense and rate			68,360						37.4		%
(1) State Taxes in California, Illinois, Massachusetts, Michigan, Minnesota, Pennsylvania, and Tennessee made up the majority (greater than 50%) of tax effect in this category.

A reconciliation of the U.S. federal statutory corporate tax rate to the Company’s income tax expense, or effective tax rate, was as follows for the years ended December 31, 2024 and December 31, 2023:

									Year Ended December 31,
									2024						2023
Income tax expense at U.S. federal statutory corporate tax rate									21		%				21		%
State income taxes, net of federal benefit									2						1
Foreign tax rate differential									(4)						(6)
Tax credits									(3)						(3)
Taxation on multinational operations									(5)						(3)
Tax reserves									1						3
Limitation on deduction for executive compensation									1						2
Discrete tax expense related to employee stock-based compensation									2						1
Discrete tax benefit for audit settlements									1						—
Discrete tax expense for foreign earnings not indefinitely reinvested									1						—
Discrete tax expense related to tax return filings									—						2
Discrete tax expense related to rate revaluation on state tax assets									—						2
Discrete tax benefit related to GILTI adjustments									—						(2)
Discrete tax benefit for release of valuation allowance									—						(4)
Other									2						2
Income tax expense									19		%				16		%

Schedule of Unrecognized Tax Benefits Roll Forward

The changes in gross amounts of unrecognized tax benefits, excluding interest and penalties, were as follows (in thousands):

Balance of reserve for income taxes as of December 31, 2022			$	13,647
Reductions as a result of tax positions taken in prior periods			(242)
Additions as a result of tax positions taken in prior periods			12,556
Additions as a result of tax positions taken in the current period			1,877
Reductions relating to settlements with taxing authorities			(1,230)
Reductions as a result of the expiration of the applicable statutes of limitations			(894)
Balance of reserve for income taxes as of December 31, 2023			25,714
Reductions as a result of tax positions taken in prior periods			(39)
Additions as a result of tax positions taken in prior periods			208
Additions as a result of tax positions taken in the current period			1,935
Reductions relating to settlements with taxing authorities			(2,751)
Reductions as a result of the expiration of the applicable statutes of limitations			(1,331)
Balance of reserve for income taxes as of December 31, 2024			23,736
Reductions as a result of tax positions taken in prior periods			(1,597)
Additions as a result of tax positions taken in prior periods			825
Additions as a result of tax positions taken in the current period			1,853
Reductions relating to settlements with taxing authorities			—
Reductions as a result of the expiration of the applicable statutes of limitations			(3,547)
Balance of reserve for income taxes as of December 31, 2025			$	21,270

Schedule of Cash Flow, Supplemental Disclosures

Cash paid for income taxes for the year ended December 31, 2025 was as follows:

						2025
U.S. federal						$	23,586
State and local						2,417
Japan						6,669
China						2,106
Other						7,553
Total income taxes paid						$	42,331

Constituents of Deferred Tax Assets

The tax effects of temporary differences and attributes that give rise to deferred income tax assets and liabilities as of December 31, 2025 and December 31, 2024 were as follows (in thousands):

			December 31,
			2025						2024
Deferred tax assets:
Intangible asset in connection with change in tax structure			$	361,385					$	369,474
Capitalization of R&D expenses			26,620						35,948
Stock-based compensation expense			21,617						22,428
Tax credit carryforwards			10,849						10,186
Inventory and revenue related			8,583						8,355
Bonuses, commissions, and other compensation			8,894						6,949
Depreciation			—						2,877
Foreign net operating losses			645						1,306
Other			1,607						4,624
Total deferred tax assets			440,200						462,147
Valuation allowance			(2,737)						(2,515)
			$	437,463					$	459,632
Deferred tax liabilities:
NCTI (formerly GILTI) tax basis differences in connection with change in tax structure			$	(274,026)					$	(254,213)
Amortization			(27,958)						(29,008)
Depreciation			(1,744)						—
Reserve for unremitted foreign earnings			(986)						(1,400)
			$	(304,714)					$	(284,621)
Net deferred taxes			$	132,749					$	175,011

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