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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

INCOME TAXES

Schedule of geographic distribution of pretax income from continuing operations

The geographic distribution of pretax income from continuing operations was as follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2023			2022			2021
Domestic	​	$	(17,458)	​	$	5,969	​	$	24,541
Foreign	​		139,919	​		235,772	​		124,170
Income from continuing operations, before income taxes	​	$	122,461	​	$	241,741	​	$	148,711

Schedule of income tax provision (benefit) from continuing operations

The income tax provision (benefit) from continuing operations is summarized as follows:

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2023			2022			2021
Current:		​			​			​		​
Federal	​	$	13,402	​	$	23,370	​	$	(2,468)	​
State	​		589	​		1,949	​		929	​
Foreign	​		11,661	​		20,267	​		14,217	​
Total current provision	​	​	25,652	​	​	45,586	​	​	12,678	​
​	​	​	​	​	​	​	​	​	​	​
Deferred:	​			​			​			​
Federal	​	​	(5,455)	​	​	(6,742)	​	​	762	​
State	​		(955)	​		(1,030)	​		(200)	​
Foreign	​		(27,530)	​		2,036	​		764	​
Total deferred provision (benefit)	​		(33,940)	​		(5,736)	​		1,326	​
Total income tax provision (benefit)	​	$	(8,288)	​	$	39,850	​	$	14,004	​
Effective tax rate	​	​	(6.8)	%	​	16.5	%	​	9.4	%

Schedule of effective income tax rate reconciliation

​

​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2023			2022			2021
Income taxes per federal statutory rate	​	$	25,850	​	$	50,766	​	$	31,229
State income taxes, net of federal deduction	​	​	(490)	​	​	510	​	​	534
U.S. tax on foreign operations	​	​	20,451	​	​	28,726	​	​	5,786
Foreign derived intangible income deduction	​	​	(2,868)	​	​	(6,259)	​	​	(3,927)
Tax effect of foreign operations	​	​	(27,959)	​	​	(28,432)	​	​	(11,520)
Uncertain tax positions	​	​	1,291	​	​	1,080	​	​	(6,899)
Audit settlements	​	​	—	​	​	34	​	​	7,764
Change in valuation allowance assessment	​	​	(25,636)	​	​	—	​	​	—
Tax credits	​	​	(7,289)	​	​	(5,857)	​	​	(6,149)
Change in valuation allowance	​	​	12,927	​	​	268	​	​	(73)
Executive compensation limitation	​	​	1,955	​	​	641	​	​	1,926
Other permanent items, net	​	​	(6,520)	​	​	(1,627)	​	​	(4,667)
Total income tax provision (benefit)	​	$	(8,288)	​	$	39,850	​	$	14,004

Schedule of deferred tax assets and liabilities

Deferred tax assets and liabilities are recognized for the future tax consequences of differences between the carrying amounts of assets and liabilities and their respective tax bases using enacted tax rates in effect for the year in which the differences are expected to be reversed. Significant deferred tax assets and liabilities consist of the following:

​	​	​	​	​	​	​
​	​	December 31,		​	December 31,
​		2023			2022
Deferred tax assets		​			​
Net operating loss and tax credit carryforwards	​	$	73,954	​	$	47,733
Interest expense limitation	​	​	7,282	​	​	7,282
Pension obligation	​		9,960	​		7,301
Bond hedge original issue discount	​		24,755	​		—
Employee bonuses and commissions	​		6,654	​		9,276
Depreciation and amortization	​		24,787	​		25,879
Operating lease liabilities	​	​	12,054	​	​	10,136
Other	​		28,099	​		17,102
Total deferred tax assets	​		187,545	​		124,709
Less: valuation allowance	​		(37,999)	​		(36,046)
Deferred tax assets, net of valuation allowance	​		149,546	​		88,663
​	​	​	​	​	​	​
Deferred tax liabilities	​		​	​
Depreciation and amortization	​		32,110	​		35,678
Unremitted earnings	​		3,277	​		4,115
Operating lease right-of-use assets	​	​	9,520	​	​	8,392
Other	​		4,107	​		1,801
Total deferred tax liabilities	​		49,014	​		49,986
Net deferred tax assets	​	$	100,532	​	$	38,677

Summary of income tax contingencies

​

​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2023			2022			2021
Balance at beginning of period	​	$	7,467	​	$	5,513	​	$	9,673
Additions based on tax positions taken during a prior period	​		199	​		245	​		963
Additions based on tax positions taken during a prior period - acquisitions	​		—	​		1,025	​		—
Additions based on tax positions taken during the current period	​		1,070	​		836	​		566
Reductions based on tax positions taken during a prior period	​		—	​		—	​		—
Reductions related to a lapse of applicable statute of limitations	​		(139)	​		(152)	​		(4,575)
Reductions related to a settlement with taxing authorities	​		(145)	​		—	​		(1,114)
Balance at end of period	​	$	8,452	​	$	7,467	​	$	5,513

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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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.

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