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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes | The provision (benefit) for income taxes consists of the following:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| (Amounts in thousands)
Current: |  |  |  |  |
U.S. federal | $ | 45,130 |  |  | $ | 66,486 |  |  | $ | 40,234 |
Foreign | 40,876 |  |  | 29,987 |  |  | 42,487 |
State and local | 6,177 |  |  | 1,478 |  |  | 5,894 |
Total current provision (benefit) | 92,183 |  |  | 97,951 |  |  | 88,615 |
Deferred: |  |  |  |  |
U.S. federal | (88,498) |  |  | (92,021) |  |  | (50,038) |
Foreign | (42,756) |  |  | (4,339) |  |  | 26,742 |
State and local | (4,568) |  |  | (4,185) |  |  | (3,902) |
Total deferred provision (benefit) | (135,822) |  |  | (100,545) |  |  | (27,198) |
Total provision (benefit) | $ | (43,639) |  |  | $ | (2,594) |  |  | $ | 61,417 |
Schedule of Reconciliation Statutory Corporate Rate to Provision for Income Taxes | The provision for income taxes differs from the statutory corporate rate due to the following:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| (Amounts in millions)
Statutory federal income tax at 21% | $ | 32.4 |  |  | $ | 28.1 |  |  | $ | 39.2 |
Base Erosion and Anti-abuse Tax | (7.6) |  |  | 7.6 |  |  | — |
Foreign impact, net | (22.3) |  |  | (158.0) |  |  | 0.1 |
Change in valuation allowances | (50.5) |  |  | 146.6 |  |  | 26.9 |
State and local income taxes, net | 1.6 |  |  | (2.7) |  |  | 2.0 |
Reversal of deferred tax liabilities following legal entity reorganizations | — |  |  | (22.6) |  |  | — |
Research and development credit | (1.0) |  |  | (3.6) |  |  | (5.2) |
Non-deductible items | 2.3 |  |  | 4.4 |  |  | 1.8 |
U.S. federal tax return to accrual adjustments, not separately disclosed in other categories | 1.8 |  |  | (0.8) |  |  | (1.6) |
Recognition of compensation costs related to restricted shares | 2.4 |  |  | (1.3) |  |  | 1.0 |
Intercompany profit in inventory | (2.0) |  |  | (0.3) |  |  | 0.3 |
Other, net | (0.7) |  |  | — |  |  | (3.1) |
Total | (43.6) |  |  | (2.6) |  |  | 61.4 |
Effective tax rate | (28.3) | % |  | (1.9) | % |  | 30.4 | %
Schedule of Deferred Tax Assets and Liabilities | Significant components of the consolidated deferred tax assets and liabilities were:
| December 31,
| 2022 |  | 2021
| (Amounts in thousands)
Deferred tax assets related to: |  |  |
Net operating loss carryforwards | $ | 183,541 |  |  | $ | 200,196 |
Credit and capital loss carryforwards | 197,774 |  |  | 185,832 |
Warranty and accrued liabilities | 49,302 |  |  | 26,116 |
Section 59(e) capitalized expenses | 54,486 |  |  | 43,434 |
Other | 168,933 |  |  | 161,418 |
Total deferred tax assets | 654,036 |  |  | 616,996 |
Valuation allowances | (356,557) |  |  | (415,962) |
Net deferred tax assets | $ | 297,479 |  |  | $ | 201,034 |
Deferred tax liabilities related to: |  |  |
Goodwill and intangibles | $ | (123,088) |  |  | $ | (123,133) |
Foreign undistributed earnings | (11,154) |  |  | (15,529) |
Operating lease right-of-use-assets | (20,453) |  |  | (25,556) |
Other | (1,395) |  |  | (1,936) |
Total deferred tax liabilities | (156,090) |  |  | (166,154) |
Deferred tax asset (liabilities), net | $ | 141,389 |  |  | $ | 34,880 |
Schedule of Deferred Tax Asset Valuation Allowance | The following schedule presents the changes in deferred tax asset valuation allowance as follows:
(Amounts in thousands) |  | Balance at beginning of year |  | Additions charged to cost and expenses |  | Additions charged to other accounts - currency effects and other, net |  | Deductions from reserve |  | Balance at end of year
Year Ended December 31, 2022 |  |  |  |  |  |  |  |  |  |
Deferred tax asset valuation allowance(1): |  | $ | 415,962 |  |  | $ | 36,822 |  |  | $ | (11,775) |  |  | $ | (84,452) |  |  | $ | 356,557 |
Year Ended December 31, 2021 |  |  |  |  |  |  |  |  |  |
Deferred tax asset valuation allowance(1): |  | 287,410 |  |  | 178,203 |  |  | (15,572) |  |  | (34,079) |  |  | 415,962 |
Year Ended December 31, 2020 |  |  |  |  |  |  |  |  |  |
Deferred tax asset valuation allowance(1): |  | 266,414 |  |  | 49,950 |  |  | (529) |  |  | (28,425) |  |  | 287,410 |
______________________________ (1)Deductions from reserve result from the release of valuation allowances on deferred tax assets, expiration or utilization of net operating losses and foreign tax credits previously reserved. Additions to reserve result from the establishment of valuation allowances on deferred tax assets, generation of net operating losses and foreign tax credits.
Schedule of Earnings Before Income Tax | Earnings before income taxes comprised:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| (Amounts in thousands)
U.S. | $ | 63,508 |  |  | $ | (52,915) |  |  | $ | 73,109 |
Foreign | 90,868 |  |  | 186,504 |  |  | 129,183 |
Total | $ | 154,376 |  |  | $ | 133,589 |  |  | $ | 202,292 |
Reconciliation of Unrecognized Tax Benefits | A tabular reconciliation of the total gross amount of unrecognized tax benefits, excluding interest and penalties, is as follows (in millions):
| 2022 |  | 2021 |  | 2020
Balance — January 1 | $ | 49.9 |  |  | $ | 54.8 |  |  | $ | 40.6 |
Gross amount of increase (decrease) in unrecognized tax benefits resulting from tax positions taken: |  |  |  |  |
During a prior year | 5.4 |  |  | 8.0 |  |  | 3.8 |
During the current period | 5.8 |  |  | 4.5 |  |  | 11.1 |
Decreases in unrecognized tax benefits relating to: |  |  |  |  |
Settlements with taxing authorities | (5.5) |  |  | (10.2) |  |  | (0.2) |
Lapse of the applicable statute of limitations | (4.1) |  |  | (5.1) |  |  | (2.5) |
Increase (decrease) in unrecognized tax benefits relating to foreign currency translation adjustments | (1.3) |  |  | (2.1) |  |  | 2.0 |
Balance — December 31 | $ | 50.2 |  |  | $ | 49.9 |  |  | $ | 54.8 |

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