XML 50 R35.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income (Loss) Before Income Taxes | For financial reporting purposes, income (loss) before income taxes includes the following components (in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
United States | $ | (8,342) |  |  | $ | (11,751) |  |  | $ | 69,817 |
Foreign | 155,969 |  |  | 218,386 |  |  | 105,248 |
Total | $ | 147,627 |  |  | $ | 206,635 |  |  | $ | 175,065 |
Schedule of Expense (Benefit) for Income Taxes | The expense (benefit) for income taxes consists of the following (in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Federal |  |  |  |  |
Current | $ | (3,490) |  |  | $ | 7,064 |  |  | $ | 3,994 |
Deferred | (6,306) |  |  | (353) |  |  | 6,067 |
Total | (9,796) |  |  | 6,711 |  |  | 10,061 |
State |  |  |  |  |
Current | (2,327) |  |  | 7,993 |  |  | 7,592 |
Deferred | 797 |  |  | (3,500) |  |  | (1,498) |
Total | (1,530) |  |  | 4,493 |  |  | 6,094 |
Foreign |  |  |  |  |
Current | 36,020 |  |  | 47,798 |  |  | 31,955 |
Deferred | 1,424 |  |  | 5,456 |  |  | (836) |
Total | 37,444 |  |  | 53,254 |  |  | 31,119 |
Total | $ | 26,118 |  |  | $ | 64,458 |  |  | $ | 47,274 |
Schedule of Differences Between Income Tax Expense Computed at Statutory Federal Income Tax Rate and Per Consolidated Statements of Operations | Differences between the income tax expense computed at the statutory federal income tax rate and per the consolidated statements of operations are summarized as follows (in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Tax expense at federal rate of 21% | $ | 31,002 |  |  | $ | 43,393 |  |  | $ | 36,764 |
State income taxes, net of federal benefit | 1,744 |  |  | 2,351 |  |  | 4,816 |
Change in valuation allowance | 1,588 |  |  | 71 |  |  | 1,228 |
Foreign tax rate differential | (7,658) |  |  | (12,949) |  |  | (5,376) |
Unrecognized tax benefit increase (decrease) | (5,726) |  |  | 2,039 |  |  | 858 |
Tax effect of foreign operations | 10,350 |  |  | 15,336 |  |  | 16,151 |
Tax benefit of research & development | (5,104) |  |  | (3,365) |  |  | (4,123) |
Performance-based compensation | 3,004 |  |  | 2,266 |  |  | (1,887) |
Tax effect of divestiture | (2,900) |  |  | 14,522 |  |  | — |
Other | (182) |  |  | 794 |  |  | (1,157) |
Income tax provision | $ | 26,118 |  |  | $ | 64,458 |  |  | $ | 47,274 |
Schedule of Deferred Tax Assets and Liabilities | The deferred tax assets and liabilities result from differences in the timing of the recognition of certain income and expense items for tax and financial accounting purposes. The sources of these differences at each balance sheet date are as follows (in thousands):
| December 31,
| 2023 |  | 2022
Deferred income tax assets: |  |  |
Net operating loss carryforwards | $ | 15,409 |  |  | $ | 16,763 |
Tax credits | 23,197 |  |  | 18,497 |
Compensation | 15,478 |  |  | 15,272 |
Deferred revenue | 9,873 |  |  | 10,168 |
Operating lease | 8,297 |  |  | 10,202 |
Capitalized research and development | 16,903 |  |  | 23,891 |
Deferred interest | 17,822 |  |  | 6,829 |
Other | 951 |  |  | 2,704 |
Gross deferred income tax assets | 107,930 |  |  | 104,326 |
Less: valuation allowance | (12,963) |  |  | (11,384) |
Net deferred income tax assets | $ | 94,967 |  |  | $ | 92,942 |
Deferred income tax liabilities: |  |  |
Depreciation and amortization | $ | (31,741) |  |  | $ | (33,692) |
Operating lease right-of-use asset | (7,303) |  |  | (8,885) |
Unbilled revenue | (5,407) |  |  | (9,566) |
Withholding tax liability | (32,752) |  |  | (27,432) |
Total deferred income tax liabilities | (77,203) |  |  | (79,575) |
Net deferred income taxes | $ | 17,764 |  |  | $ | 13,367 |
Deferred income taxes / liabilities included in the balance sheet are: |  |  |
Deferred income tax asset – noncurrent | $ | 58,499 |  |  | $ | 53,738 |
Deferred income tax liability – noncurrent | (40,735) |  |  | (40,371) |
Net deferred income taxes | $ | 17,764 |  |  | $ | 13,367 |
Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31 is as follows (in thousands):
| 2023 |  | 2022 |  | 2021
Balance of unrecognized tax benefits at beginning of year | $ | 26,408 |  |  | $ | 24,510 |  |  | $ | 24,310 |
Increases for tax positions of prior years | 1,568 |  |  | 2,349 |  |  | 1,533 |
Decreases for tax positions of prior years | (6,560) |  |  | (3,659) |  |  | (65) |
Increases for tax positions established for the current period | 3,941 |  |  | 9,320 |  |  | 2,272 |
Decreases for settlements with taxing authorities | (532) |  |  | (63) |  |  | (620) |
Reductions resulting from lapse of applicable statute of limitation | (4,005) |  |  | (5,833) |  |  | (2,876) |
Adjustment resulting from foreign currency translation | 69 |  |  | (216) |  |  | (44) |
Balance of unrecognized tax benefits at end of year | $ | 20,889 |  |  | $ | 26,408 |  |  | $ | 24,510 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration