XML 54 R41.htm IDEA: XBRL DOCUMENT
v3.22.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Taxes [Abstract] |
Schedule of income before income taxes domestic and foreign |
|  | Year Ended December 31,
(in thousands) |  | 2022 |  | 2021 |  | 2020
Income before taxes: |  |  |  |  |  |
United States |  | $ | (12,526 | ) |  | $ | (4,775 | ) |  | $ | 40,323 |
Foreign |  | 335,121 |  |  | 140,450 |  |  | (32,152 | )
Total income before income taxes |  | $ | 322,595 |  |  | $ | 135,675 |  |  | $ | 8,171 |
Schedule of components of income tax expense (benefit) |
|  | Year Ended December 31,
(in thousands) |  | 2022 |  | 2021 |  | 2020
Current tax expense (benefit): |  |  |  |  |  |
U.S. |  | $ | 3,878 |  |  | $ | 2,810 |  |  | $ | 2,605 |
Foreign |  | 80,296 |  |  | 59,874 |  |  | 39,270 |
Total current |  | 84,174 |  |  | 62,684 |  |  | 41,875 |
Deferred tax expense (benefit): |  |  |  |  |  |  |  |  |
U.S. |  | (7,270 | ) |  | 12,269 |  |  | (16,100 | )
Foreign |  | 14,949 |  |  | (9,865 | ) |  | (14,300 | )
Total deferred |  | 7,679 |  |  | 2,404 |  |  | (30,400 | )
Total tax expense |  | $ | 91,853 |  |  | $ | 65,088 |  |  | $ | 11,475 |
Schedule of effective income tax rate reconciliation |
|  | Year Ended December 31,
(dollar amounts in thousands) |  | 2022 |  | 2021 |  | 2020
U.S. federal income tax expense at applicable statutory rate |  | $ | 67,745 |  |  | $ | 28,492 |  |  | $ | 1,716 |
Tax effect of: |  |  |  |  |  |  |  |  |
State income tax expense at statutory rates, net of U.S. federal income tax |  | 3,666 |  |  | 1,516 |  |  | 347 |
Non-deductible expenses |  | 1,698 |  |  | 538 |  |  | 1,887 |
Share-based compensation |  | 1,930 |  |  | (3,524 | ) |  | (6,446 | )
Other permanent differences |  | (219 | ) |  | (2,047 | ) |  | 3,828 |
Difference between U.S. federal and foreign tax rates |  | 13,859 |  |  | 7,438 |  |  | 7,002 |
Provision in excess of statutory rates |  | 3,592 |  |  | 2,879 |  |  | (6,491 | )
Change in federal and foreign valuation allowance |  | (7,704 | ) |  | 26,673 |  |  | (4,238 | )
Impairment of goodwill and acquired intangibles assets |  | — |  |  | — |  |  | 22,053 |
GILTI, net of tax credits |  | 9,807 |  |  | 3,900 |  |  | — |
Tax credits |  | (697 | ) |  | (1,122 | ) |  | (3,518 | )
Other |  | (1,824 | ) |  | 345 |  |  | (4,665 | )
Total income tax expense |  | $ | 91,853 |  |  | $ | 65,088 |  |  | $ | 11,475 |
Effective tax rate |  | 28.47 | % |  | 48.0 | % |  | 140.4 | %
Schedule of deferred tax assets and liabilities |
|  | As of December 31,
(in thousands) |  | 2022 |  | 2021
Deferred tax assets: |  |  |  |
Tax loss carryforwards |  | $ | 64,889 |  |  | $ | 65,862 |
Share-based compensation |  | 12,620 |  |  | 9,743 |
Accrued expenses |  | 23,192 |  |  | 19,907 |
Property and equipment |  | 10,787 |  |  | 11,949 |
Goodwill and intangible amortization |  | 8,999 |  |  | 9,353 |
Contract costs |  | 7,034 |  |  | 9,921 |
Intercompany notes |  | 17,352 |  |  | 6,077 |
Accrued revenue |  | 5,073 |  |  | 7,541 |
Tax credits |  | 64,384 |  |  | 65,267 |
Lease accounting |  | 40,194 |  |  | 42,381 |
Foreign exchange |  | 2,704 |  |  | 8,283 |
Other |  | 7,755 |  |  | 14,616 |
Total deferred tax assets |  | 264,983 |  |  | 270,900 |
Valuation allowance |  | (90,369 | ) |  | (100,489 | )
Total deferred tax assets, net of valuation allowance |  | 174,614 |  |  | 170,411 |
Deferred tax liabilities: |  |  |  |  |  |
Intangible assets related to purchase accounting |  | (12,067 | ) |  | (11,763 | )
Goodwill and intangible amortization |  | (31,716 | ) |  | (30,339 | )
Accrued expenses |  | (22,661 | ) |  | (21,495 | )
Intercompany notes |  | (14,544 | ) |  | (10,388 | )
Accrued interest |  | (26,583 | ) |  | (34,175 | )
Capitalized research and development |  | (1,229 | ) |  | (6,376 | )
Property and equipment |  | (14,630 | ) |  | (15,597 | )
Accrued revenue |  | (2,074 | ) |  | (2,073 | )
Lease accounting |  | (40,194 | ) |  | (42,381 | )
Foreign exchange |  | (9,773 | ) |  | (1,211 | )
Other |  | (3,533 | ) |  | (3,971 | )
Total deferred tax liabilities |  | (179,004 | ) |  | (179,769 | )
Net deferred tax liabilities |  | $ | (4,390 | ) |  | $ | (9,358 | )
Summary of operating loss carryforwards |
(in thousands) |  | Gross |  | Tax Effected
Year ending December 31, |  |  |  |
2023 |  | $ | 2,244 |  |  | $ | 516 |
2024 |  | 2,247 |  |  | 503 |
2025 |  | 16,533 |  |  | 3,872 |
2026 |  | 17,655 |  |  | 4,106 |
2027 |  | 4,781 |  |  | 1,151 |
Thereafter |  | 18,904 |  |  | 4,941 |
Unlimited |  | 198,253 |  |  | 46,293 |
Total |  | $ | 260,617 |  |  | $ | 61,382 |
Schedule of reconciliation of beginning and ending amount of unrecognized tax benefits |
|  | Year Ended December 31,
(in thousands) |  | 2022 |  | 2021
Beginning balance |  | $ | 40,990 |  |  | $ | 39,785 |
Additions based on tax positions related to the current year |  | 6,125 |  |  | 3,815 |
Additions for tax positions of prior years |  | 258 |  |  | — |
Reductions for tax positions of prior years |  | (3,971 | ) |  | (1,998 | )
Settlements |  | (586 | ) |  | — |
Statute of limitations expiration |  | — |  |  | (612 | )
Ending balance |  | $ | 42,816 |  |  | $ | 40,990 |
Schedule of income tax examinations |
Jurisdictions | Periods
U.S. (Federal) | 2014 through 2022
Germany | 2016 through 2022
Greece | 2013 through 2022
Spain | 2015 through 2022
U.K. | 2018 through 2022

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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + 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 income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320 + Details
Name: | us-gaap_SummaryOfIncomeTaxExaminationsTextBlock
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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32559-109319 + 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 unrecognized tax benefits for which a material change is reasonably possible in the next twelve months, typically including the nature of the uncertainty, the event(s) that could cause a material change, and an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made. An unrecognized tax benefit is the difference between a tax position taken in a tax return and the amounts recognized in the financial statements for which it is more likely than not, based on the technical merits of the position, that the tax position will not be sustained upon examination. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 + Details
Name: | us-gaap_SummaryOfPositionsForWhichSignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration