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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Summary of (Loss) Income Before Income Tax Benefits | The domestic and foreign components of income (loss) before provision for income taxes for the year ended December 31, 2021 (Successor), for the period from February 1, 2020 through December 31, 2020 (Successor), the period from January 1, 2020 through January 31, 2020 (Predecessor), and for the year ended December 31, 2019 (Predecessor), respectively, were as follows (in thousands):
|  | Successor |  |  |  | Predecessor |
|  | Year Ended December 31, 2021 |  |  | Period from February 1, 2020 through December 31, 2020 |  |  |  | Period from January 1, 2020 through January 31, 2020 |  |  | Year Ended December 31, 2019 |
(Loss) income before provision for income taxes from United States operations |  | $ | (7,791 | ) |  | $ | (68,008 | ) |  |  | $ | (38,181 | ) |  | $ | 29,196 |
Income before provision for income taxes from foreign operations |  |  | 32,704 |  |  |  | 9,161 |  |  |  |  | 780 |  |  |  | 11,952 |
Net income (loss) before provision for income taxes |  | $ | 24,913 |  |  | $ | (58,847 | ) |  |  | $ | (37,401 | ) |  | $ | 41,148 |
Summary of Current and Deferred Portions of Income Tax Benefits | The domestic and foreign components of the provision for income taxes for the year ended December 31, 2021 (Successor), for the period from February 1, 2020 through December 31, 2020 (Successor), the period from January 1, 2020 through January 31, 2020 (Predecessor), and for the year ended December 31, 2019 (Predecessor), respectively, were as follows (in thousands):
|  | Successor |  |  |  | Predecessor |
|  | Year Ended December 31, 2021 |  |  | Period from February 1, 2020 through December 31, 2020 |  |  |  | Period from January 1, 2020 through January 31, 2020 |  |  | Year Ended December 31, 2019 |
Current: |  |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 58 |  |  | $ | 51 |  |  |  | $ | (2 | ) |  | $ | (96 | )
State |  |  | 4,003 |  |  |  | 1,994 |  |  |  |  | (79 | ) |  |  | 784 |
Foreign |  |  | 7,618 |  |  |  | 3,818 |  |  |  |  | 128 |  |  |  | 4,161 |
Total Current |  | $ | 11,679 |  |  | $ | 5,863 |  |  |  | $ | 47 |  |  | $ | 4,849 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 549 |  |  | $ | (16,144 | ) |  |  | $ | (701 | ) |  | $ | 1,778 |
State |  |  | (4,495 | ) |  |  | (784 | ) |  |  |  | (149 | ) |  |  | 389 |
Foreign |  |  | 1,129 |  |  |  | (290 | ) |  |  |  | (68 | ) |  |  | (118 | )
Total Deferred |  | $ | (2,817 | ) |  | $ | (17,218 | ) |  |  | $ | (918 | ) |  | $ | 2,049 |
Total |  | $ | 8,862 |  |  | $ | (11,355 | ) |  |  | $ | (871 | ) |  | $ | 6,898 |
Summary of Reconciliation of U.S. Federal Statutory Income Tax Rate and Effective Income Tax Rate | The following table reconciles the U.S. statutory federal tax rate of 21% to the Company’s effective income tax rate of 35.57%, 19.29%, 2.33%, and 16.71%, for the year ended December 31, 2021 (Successor), for the period from February 1, 2020 through December 31, 2020 (Successor), the period from January 1, 2020 through January 31, 2020 (Predecessor), and for the year ended December 31, 2019 (Predecessor), respectively:
|  | Successor |  |  |  | Predecessor |
|  | Year Ended December 31, 2021 |  |  | Period from February 1, 2020 through December 31, 2020 |  |  |  | Period from January 1, 2020 through January 31, 2020 |  |  | Year Ended December 31, 2019 |
U.S. federal statutory rate |  |  | 21.00 | % |  |  | 21.00 | % |  |  |  | 21.00 | % |  |  | 21.00 | %
State and local income taxes – net of federal tax benefits |  |  | (5.32 | ) |  |  | (1.50 | ) |  |  |  | (0.99 | ) |  |  | 4.84 |
Foreign rate difference |  |  | 3.25 |  |  |  | (0.14 | ) |  |  |  | 0.06 |  |  |  | 1.28 |
Change in valuation allowance |  |  | (2.72 | ) |  |  | 0.00 |  |  |  |  | (12.37 | ) |  |  | (13.81 | )
GILTI inclusion |  |  | 7.92 |  |  |  | 2.71 |  |  |  |  | (0.34 | ) |  |  | 3.41 |
Transaction cost |  |  | 5.21 |  |  |  | (1.09 | ) |  |  |  | (3.14 | ) |  |  | — |
Share-based compensation |  |  | 5.82 |  |  |  | (0.40 | ) |  |  |  | (2.23 | ) |  |  | 0.47 |
Rate change impact |  |  | 2.23 |  |  |  | — |  |  |  |  | — |  |  |  | 1.37 |
US research and development credit |  |  | (7.15 | ) |  |  | 0.85 |  |  |  |  | 0.35 |  |  |  | (2.03 | )
Withholding tax |  |  | 5.34 |  |  |  | (1.90 | ) |  |  |  | — |  |  |  | 0.78 |
Other |  |  | (0.01 | ) |  |  | (0.24 | ) |  |  |  | (0.01 | ) |  |  | (0.60 | )
Effective rate |  |  | 35.57 | % |  |  | 19.29 | % |  |  |  | 2.33 | % |  |  | 16.71 | %
Summary of Net Deferred Tax Assets | The primary components of temporary differences that give rise to the Company’s net deferred tax liability as of December 31, 2021 and 2020 (Successor) consist of the following (in thousands):
|  | Successor |  |  | Successor |
|  | December 31, 2021 |  |  | December 31, 2020 |
Deferred tax assets: |  |  |  |  |  |
Federal net operating loss carryforwards |  | $ | 25,227 |  |  | $ | 41,498 |
State net operating loss carryforwards |  |  | 8,172 |  |  |  | 9,200 |
Foreign net operating loss carryforwards |  |  | 5,556 |  |  |  | 8,808 |
Deferred revenue |  |  | 172 |  |  |  | 109 |
Bad debt reserves |  |  | 203 |  |  |  | 277 |
Employee benefits |  |  | 3,118 |  |  |  | 2,211 |
Share-based compensation |  |  | 586 |  |  |  | 195 |
Accrued expenses and loss reserves |  |  | 2,346 |  |  |  | 3,997 |
Other deferred tax assets |  |  | 9,382 |  |  |  | 8,679 |
Less: Valuation allowance |  |  | (2,367 | ) |  |  | (4,560 | )
Total deferred tax asset |  | $ | 52,395 |  |  | $ | 70,414 |
Deferred tax liabilities: |  |  |  |  |  |
Trade name |  | $ | (19,809 | ) |  | $ | (22,124 | )
Goodwill |  |  | (7,340 | ) |  |  | (3,600 | )
Depreciable and other amortizable assets |  |  | (107,080 | ) |  |  | (130,523 | )
Other deferred liabilities |  |  | (1,406 | ) |  |  | (130 | )
Total deferred tax liability |  | $ | (135,635 | ) |  | $ | (156,377 | )
Net deferred tax liability |  | $ | (83,240 | ) |  | $ | (85,963 | )
Summary of Net Operating Loss Carryforwards | The net operating loss carryforward balances as of December 31, 2021 and 2020 (Successor), are as follows (in thousands):
|  | Successor |  |  | Successor |
|  | December 31, 2021 |  |  | December 31, 2020 |
Federal |  | $ | 120,130 |  |  | $ | 197,607 |
State |  |  | 147,539 |  |  |  | 166,196 |
Foreign |  |  | 25,063 |  |  |  | 35,992 |
|  | $ | 292,732 |  |  | $ | 399,795 |
Summary of Income Tax Contingencies | The aggregate changes in the balance of our gross unrecognized tax benefits, excluding accrued interest, for the year ended December 31, 2021 (Successor), for the period from February 1, 2020 through December 31, 2020 (Successor), for the period from January 1, 2020 through January 31, 2020 (Predecessor), and for the year ended December 31, 2019 (Predecessor), were as follows (in thousands):
|  | Successor |  |  |  | Predecessor |
|  | Year Ended December 31, 2021 |  |  | Period from February 1, 2020 through December 31, 2020 |  |  |  | Period from January 1, 2020 through January 31, 2020 |  |  | Year Ended December 31, 2019 |
Balance, beginning of period |  | $ | 1,341 |  |  | $ | 1,290 |  |  |  | $ | 1,296 |  |  | $ | 1,384 |
Increases for tax positions related to prior years |  |  | 58 |  |  |  | 51 |  |  |  |  | 4 |  |  |  | 48 |
Decreases for tax positions related to prior years |  |  | — |  |  |  | — |  |  |  |  | (10 | ) |  |  | (136 | )
Balance, end of period |  | $ | 1,399 |  |  | $ | 1,341 |  |  |  | $ | 1,290 |  |  | $ | 1,296 |

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- 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 http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- 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 http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 Reference 2: 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 http://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
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