XML 69 R52.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 Tax Expense |
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (in thousands)
Income from continuing operations before taxes: |  |  |  |  |
United States operations | $ | 86,805 |  |  | $ | 97,900 |  |  | $ | 188,650 |
Foreign operations | 198,951 |  |  | 219,493 |  |  | 38,130 |
Income from continuing operations before taxes | $ | 285,756 |  |  | $ | 317,393 |  |  | $ | 226,780 |
Income tax expense (benefit): |  |  |  |  |
Currently payable |  |  |  |  |
United States federal | $ | 34,091 |  |  | $ | 34,310 |  |  | $ | 1,649 |
United States state and local | 3,900 |  |  | 4,801 |  |  | 2,453 |
Foreign | 18,166 |  |  | 6,677 |  |  | 15,984 |
| 56,157 |  |  | 45,788 |  |  | 20,086 |
Deferred |  |  |  |  |
United States federal | (7,497) |  |  | (446) |  |  | 16,354 |
United States state and local | (623) |  |  | (50) |  |  | 5,988 |
Foreign | (4,837) |  |  | 4,353 |  |  | (14,489) |
| (12,957) |  |  | 3,857 |  |  | 7,853 |
Income tax expense | $ | 43,200 |  |  | $ | 49,645 |  |  | $ | 27,939 |
Schedule of Effective Income Tax Rate Reconciliation from Continuing Operations |
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Effective income tax rate reconciliation from continuing operations: |  |  |  |  |
United States federal statutory rate | 21.0% |  | 21.0% |  | 21.0%
State and local income taxes | 0.8% |  | 1.2% |  | 3.4%
Impact of change in tax contingencies | 0.3% |  | 0.1% |  | (0.7)%
Foreign income tax rate differences | (10.5)% |  | (10.9)% |  | 0.7%
Impact of change in deferred tax asset valuation allowance | 0.5% |  | (2.5)% |  | (19.1)%
Domestic permanent differences and tax credits | 2.9% |  | 6.3% |  | 6.0%
Impact of share-based compensation | 0.1% |  | 0.4% |  | 1.0%
| 15.1% |  | 15.6% |  | 12.3%
Schedule of Components of Deferred Income Tax Balances | The components of deferred income taxes were as follows:
| December 31,
| 2023 |  | 2022
| (In thousands)
Components of deferred income tax balances: |  |  |
Deferred income tax liabilities: |  |  |
Plant, equipment, and intangibles | $ | (98,112) |  |  | $ | (94,189) |
Right of use asset | (21,440) |  |  | (19,853) |
| (119,552) |  |  | (114,042) |
Deferred income tax assets: |  |  |
Postretirement, pensions, and stock compensation | 17,052 |  |  | 17,368 |
Reserves and accruals | 41,474 |  |  | 25,519 |
Net operating loss, capital loss, and tax credit carryforwards | 114,896 |  |  | 149,607 |
Lease liability | 22,073 |  |  | 19,938 |
Valuation allowances | (109,676) |  |  | (142,330) |
| 85,819 |  |  | 70,102 |
Net deferred income tax liability | $ | (33,733) |  |  | $ | (43,940) |
Schedule of Net Operating Loss Carryforwards | The following tables summarize our net operating loss carryforwards and tax credit carryforwards as of December 31, 2023 by jurisdiction:
| Net Operating Loss Carryforwards
| (In thousands)
United States - Federal and various states | $ | 44,066 |
Germany | 19,418 |
United Kingdom | 13,641 |
Other | 8,290 |
Australia | 8,234 |
Total | $ | 93,649 |
Schedule of Tax Credit Carryforwards |
| Tax Credit Carryforwards
| (In thousands)
United States | $ | 4,705 |
Belgium | 1,509 |
Total | $ | 6,214 |
Schedule of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
| 2023 |  | 2022
| (In thousands)
Balance at beginning of year | $ | 6,180 |  |  | $ | 5,821 |
Additions for tax positions of prior years | 605 |  |  | — |
Additions based on tax positions related to the current year | 358 |  |  | 359 |
Balance at end of year | $ | 7,143 |  |  | $ | 6,180 |

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 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 19 -SubTopic 10 -Topic 740 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-3 + Details
Name: | us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of tax credit carryforwards available to reduce future taxable income, including amounts, expiration dates, limitations on use and the related deferred tax assets and valuation allowances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-3 + Details
Name: | us-gaap_SummaryOfTaxCreditCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration