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Income taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Components of Provision for Income Taxes from Continuing Operations | The following table summarizes the components of the provision for income taxes from continuing operations:
| 2023 |  | 2022 |  | 2021
Current: |  |  |  |  |
Federal | $ | 51,717 |  |  | $ | 32,798 |  |  | $ | 134,336 |
State | 8,266 |  |  | 8,747 |  |  | 16,970 |
Non-U.S. | 30,408 |  |  | 56,442 |  |  | 35,399 |
Deferred: |  |  |  |  |
Federal | (24,396) |  |  | (27,528) |  |  | (85,272) |
State | 5,439 |  |  | 10,116 |  |  | (16,933) |
Non-U.S. | 5,006 |  |  | 2,428 |  |  | (10,151) |
| $ | 76,440 |  |  | $ | 83,003 |  |  | $ | 74,349 |
Summaries of U.S. and Non-U.S. Components of Income from Continuing Operations Before Taxes | The following table summarizes the U.S. and non-U.S. components of income from continuing operations before taxes:
| 2023 |  | 2022 |  | 2021
U.S. | $ | 45,363 |  |  | $ | 164,151 |  |  | $ | 209,231 |
Non-U.S. | 388,649 |  |  | 281,768 |  |  | 350,237 |
| $ | 434,012 |  |  | $ | 445,919 |  |  | $ | 559,468 |
Reconciliations Between Statutory Federal Income Tax Rate and Effective Income Tax Rate | Reconciliations between the statutory federal income tax rate and the effective income tax rate are as follows:
| 2023 |  | 2022 |  | 2021
Federal statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Tax effect of international items | (6.1) |  |  | (4.6) |  |  | (6.0) |
Legal entity rationalization - deferred taxes | 5.7 |  |  | — |  |  | — |
Excess tax benefits related to share-based compensation | (0.3) |  |  | (0.3) |  |  | (1.1) |
State taxes, net of federal benefit | 0.4 |  |  | 3.4 |  |  | 0.1 |
Uncertain tax contingencies | (0.6) |  |  | (0.4) |  |  | (0.1) |
Contingent consideration | (1.3) |  |  | 0.1 |  |  | 0.2 |
Research and development tax credit | (1.3) |  |  | (1.0) |  |  | (0.8) |
Other, net | 0.1 |  |  | 0.5 |  |  | — |
| 17.6 | % |  | 18.6 | % |  | 13.3 | %
Deferred Tax Assets and Liabilities | The following table summarizes significant components of our deferred tax assets and liabilities at December 31, 2023 and 2022:
| 2023 |  | 2022
Deferred tax assets: |  |  |
Tax loss and credit carryforwards | $ | 114,147 |  |  | $ | 110,857 |
Lease Liabilities | 30,397 |  |  | 32,339 |
Pension | — |  |  | 1,163 |
Reserves and accruals | 72,040 |  |  | 64,498 |
Other | 33,472 |  |  | 24,013 |
Less: valuation allowances | (95,747) |  |  | (91,531) |
Total deferred tax assets | 154,309 |  |  | 141,339 |
Deferred tax liabilities: |  |  |
Property, plant and equipment | 34,852 |  |  | 25,427 |
Intangibles — stock acquisitions | 462,559 |  |  | 379,298 |
Unremitted non-U.S. earnings | 61,734 |  |  | 67,833 |
Lease Assets | 30,397 |  |  | 32,339 |
Other | 14,099 |  |  | 18,926 |
Total deferred tax liabilities | 603,641 |  |  | 523,823 |
Net deferred tax liability | $ | (449,332) |  |  | $ | (382,484) |
Uncertain Tax Positions for Liabilities Associated with Unrecognized Tax Benefits | Uncertain Tax Positions: The following table is a reconciliation of the beginning and ending balances for liabilities associated with unrecognized tax benefits for the years ended December 31, 2023, 2022 and 2021:
| 2023 |  | 2022 |  | 2021
Balance at January 1 | $ | 4,260 |  |  | $ | 6,105 |  |  | $ | 7,230 |
Increase in unrecognized tax benefits related to prior years | — |  |  | 215 |  |  | — |
Decrease in unrecognized tax benefits related to prior years | — |  |  | (761) |  |  | — |
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations | (2,287) |  |  | (1,117) |  |  | (956) |
(Decrease) increase in unrecognized tax benefits due to foreign currency translation | 47 |  |  | (182) |  |  | (169) |
Balance at December 31 | $ | 2,020 |  |  | $ | 4,260 |  |  | $ | 6,105 |
Examinations by Major Tax Jurisdictions | The taxable years for which the applicable statute of limitations remains open by major tax jurisdictions are as follows:
| Beginning |  | Ending
U.S. | 2020 |  | 2023
Canada | 2019 |  | 2023
China | 2018 |  | 2023
Czech Republic | 2020 |  | 2023
France | 2021 |  | 2023
Germany | 2011 |  | 2023
India | 2015 |  | 2023
Ireland | 2019 |  | 2023
Italy | 2018 |  | 2023
Malaysia | 2017 |  | 2023
Singapore | 2019 |  | 2023
Schedule of Cash Flow, Supplemental Disclosures, Income Tax | Supplemental cash flow information
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Income taxes paid, net of refunds | $ | 114,211 |  |  | $ | 162,046 |  |  | $ | 108,609 |

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