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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2024
INCOME TAXES |
Schedule of geographic distribution of pretax income from continuing operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
​ |  | 2024 |  | 2023 |  | 2022
​ | ​ | (in thousands)
Domestic | ​ | $ | (43,223) | ​ | $ | (17,458) | ​ | $ | 5,969
Foreign | ​ |  | 95,600 | ​ |  | 139,919 | ​ |  | 235,772
Income from continuing operations, before income taxes | ​ | $ | 52,377 | ​ | $ | 122,461 | ​ | $ | 241,741
Schedule of income tax provision (benefit) from continuing operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31, |
​ |  | 2024 |  | 2023 |  | 2022 |
​ | ​ | (in thousands) | ​
Current: |  | ​ |  |  | ​ |  |  | ​ |  | ​
Federal | ​ | $ | 3,760 | ​ | $ | 13,402 | ​ | $ | 23,370 | ​
State | ​ |  | 459 | ​ |  | 589 | ​ |  | 1,949 | ​
Foreign | ​ |  | 12,357 | ​ |  | 11,661 | ​ |  | 20,267 | ​
Total current provision | ​ | ​ | 16,576 | ​ | ​ | 25,652 | ​ | ​ | 45,586 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred: | ​ |  |  | ​ |  |  | ​ |  |  | ​
Federal | ​ | ​ | (1,444) | ​ | ​ | (5,455) | ​ | ​ | (6,742) | ​
State | ​ |  | (61) | ​ |  | (955) | ​ |  | (1,030) | ​
Foreign | ​ |  | (19,000) | ​ |  | (27,530) | ​ |  | 2,036 | ​
Total deferred benefit | ​ |  | (20,505) | ​ |  | (33,940) | ​ |  | (5,736) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total income tax provision (benefit) | ​ | $ | (3,929) | ​ | $ | (8,288) | ​ | $ | 39,850 | ​
Effective tax rate | ​ | ​ | (7.5) | % | ​ | (6.8) | % | ​ | 16.5 | %
Schedule of effective income tax rate reconciliation | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
​ |  | 2024 |  | 2023 |  | 2022
​ | ​ | (in thousands)
Income taxes per federal statutory rate | ​ | $ | 10,999 | ​ | $ | 25,850 | ​ | $ | 50,766
State income taxes, net of federal deduction | ​ | ​ | 302 | ​ | ​ | (490) | ​ | ​ | 510
U.S. tax on foreign operations | ​ | ​ | 18,944 | ​ | ​ | 20,451 | ​ | ​ | 28,726
Foreign derived intangible income deduction | ​ | ​ | (1,423) | ​ | ​ | (2,868) | ​ | ​ | (6,259)
Tax effect of foreign operations | ​ | ​ | (14,934) | ​ | ​ | (27,959) | ​ | ​ | (28,432)
Uncertain tax positions | ​ | ​ | (1,101) | ​ | ​ | 1,291 | ​ | ​ | 1,080
Change in valuation allowance assessment | ​ | ​ | 616 | ​ | ​ | (25,636) | ​ | ​ | —
Tax credits | ​ | ​ | (7,805) | ​ | ​ | (7,289) | ​ | ​ | (5,857)
Change in valuation allowance | ​ | ​ | 3,616 | ​ | ​ | 12,927 | ​ | ​ | 268
Executive compensation limitation | ​ | ​ | 2,348 | ​ | ​ | 1,955 | ​ | ​ | 641
Impact of intellectual property transfer | ​ | ​ | (22,950) | ​ | ​ | — | ​ | ​ | —
Other permanent items, net | ​ | ​ | 7,459 | ​ | ​ | (6,520) | ​ | ​ | (1,593)
Total income tax provision (benefit) | ​ | $ | (3,929) | ​ | $ | (8,288) | ​ | $ | 39,850
Schedule of deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31,
​ |  | 2024 |  | 2023
​ | ​ | (in thousands)
Deferred tax assets: |  | ​ |  |  | ​ |
Net operating loss and tax credit carryforwards | ​ | $ | 72,027 | ​ | $ | 73,954
Pension obligation | ​ |  | 9,206 | ​ |  | 9,960
Bond hedge original issue discount | ​ |  | 20,168 | ​ |  | 24,755
Amortization | ​ |  | 43,011 | ​ |  | 23,609
Operating lease liabilities | ​ | ​ | 12,253 | ​ | ​ | 12,054
Other | ​ |  | 56,424 | ​ |  | 43,782
Total deferred tax assets | ​ |  | 213,089 | ​ |  | 188,114
Less: valuation allowance | ​ |  | (42,355) | ​ |  | (37,999)
Deferred tax assets, net of valuation allowance | ​ |  | 170,734 | ​ |  | 150,115
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: | ​ |  | ​ | ​ |  |
Depreciation | ​ |  | 2,545 | ​ |  | 3,826
Amortization | ​ | ​ | 26,802 | ​ | ​ | 28,853
Unremitted earnings | ​ |  | 2,821 | ​ |  | 3,277
Operating lease right-of-use assets | ​ | ​ | 9,862 | ​ | ​ | 9,520
Operating lease liability | ​ | ​ | 5,265 | ​ | ​ | 1,069
Other | ​ |  | 2,650 | ​ |  | 3,038
Total deferred tax liabilities | ​ |  | 49,945 | ​ |  | 49,583
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax assets | ​ | $ | 120,789 | ​ | $ | 100,532
Summary of income tax contingencies | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
​ |  | 2024 |  | 2023 |  | 2022
​ | ​ | (in thousands)
Balance at beginning of period | ​ | $ | 8,452 | ​ | $ | 7,467 | ​ | $ | 5,513
Additions based on tax positions taken during a prior period | ​ |  | — | ​ |  | 199 | ​ |  | 245
Additions based on tax positions taken during a prior period - acquisitions | ​ |  | — | ​ |  | — | ​ |  | 1,025
Additions based on tax positions taken during the current period | ​ |  | 536 | ​ |  | 1,070 | ​ |  | 836
Reductions based on tax positions taken during a prior period | ​ |  | (2,102) | ​ |  | — | ​ |  | —
Reductions related to a lapse of applicable statute of limitations | ​ |  | (1,151) | ​ |  | (139) | ​ |  | (152)
Reductions related to a settlement with taxing authorities | ​ |  | — | ​ |  | (145) | ​ |  | —
Balance at end of period | ​ | $ | 5,735 | ​ | $ | 8,452 | ​ | $ | 7,467

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