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Taxes on Income (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | Taxes on income before equity in net income of associated companies for the years ended December 31, 2022, 2021 and 2020 are as follows:
| 2022 |  | 2021 |  | 2020
Current: |  |  |  |  |
Federal | $ | (708) |  |  | $ | 955 |  |  | $ | (1,359) |
State | 1,450 |  |  | 2,115 |  |  | 1,171 |
Foreign | 34,735 |  |  | 44,375 |  |  | 33,173 |
| 35,477 |  |  | 47,445 |  |  | 32,985 |
Deferred: |  |  |  |  |
Federal | (2,798) |  |  | (3,863) |  |  | (28,437) |
State | (713) |  |  | (3,117) |  |  | (3,087) |
Foreign | (7,041) |  |  | (5,526) |  |  | (6,757) |
Total | $ | 24,925 |  |  | $ | 34,939 |  |  | $ | (5,296) |
Schedule of Income before Income Tax, Domestic and Foreign | The components of earnings before income taxes for the years ended December 31, 2022, 2021 and 2020 are as follows:
| 2022 |  | 2021 |  | 2020
U.S. | $ | (4,933) |  |  | $ | 7,263 |  |  | $ | (66,585) |
Foreign | 12,051 |  |  | 139,728 |  |  | 93,724 |
Total | $ | 7,118 |  |  | $ | 146,991 |  |  | $ | 27,139 |
Schedule of Deferred Tax Assets and Liabilities | Total deferred tax assets and liabilities are composed of the following as of December 31, 2022 and 2021:
| 2022 |  | 2021 |
Retirement benefits | $ | 8,469 |  |  | $ | 11,860 |  |
Allowance for credit losses | 2,246 |  |  | 2,155 |  |
Insurance and litigation reserves | 716 |  |  | 675 |  |
Performance incentives | 3,327 |  |  | 2,881 |  |
Equity-based compensation | 2,723 |  |  | 1,920 |  |
Prepaid expense | 486 |  |  | 460 |  |
Operating loss carryforward | 20,519 |  |  | 18,544 |  |
Foreign tax credit and other credits | 5,506 |  |  | 16,285 |  |
Interest | 9,928 |  |  | 9,940 |  |
Restructuring reserves | 791 |  |  | 631 |  |
Right of use lease assets | 8,440 |  |  | 8,322 |  |
Inventory reserves | 2,967 |  |  | 2,941 |  |
Research and development | 11,936 |  |  | 8,832 |  |
Other | 4,307 |  |  | 2,846 |  |
| 82,361 |  |  | 88,292 |  |
Valuation allowance | (11,730) |  |  | (17,400) |  |
Total deferred tax assets, net | $ | 70,631 |  |  | $ | 70,892 |  |
Depreciation | 11,935 |  |  | 11,580 |  |
Foreign pension and other | 2,691 |  |  | 2,332 |  |
Intangibles | 182,838 |  |  | 197,066 |  |
Lease liabilities | 9,590 |  |  | 8,421 |  |
Outside basis in equity investment | 5,886 |  |  | 5,999 |  |
Unremitted Earnings | 6,766 |  |  | 8,381 |  |
Total deferred tax liabilities | $ | 219,706 |  |  | $ | 233,779 |  |
Summary of Valuation Allowance | The following are the changes in the Company’s deferred tax asset valuation allowance for the years ended December 31, 2022, 2021 and 2020:
| Balance at Beginning of Period |  | Purchase Accounting Adjustments |  | Additional Valuation Allowance |  | Allowance Utilization and Other |  | Effect of Exchange Rate Changes |  | Balance at End of Period
Valuation Allowance |  |  |  |  |  |  |  |  |  |  |
Year ended December 31, 2022 | $ | 17,400 |  |  | $ | — |  |  | $ | 1,326 |  |  | $ | (6,789) |  |  | $ | (207) |  |  | $ | 11,730 |
Year ended December 31, 2021 | $ | 21,511 |  |  | $ | — |  |  | $ | 29 |  |  | $ | (4,470) |  |  | $ | 330 |  |  | $ | 17,400 |
Year ended December 31, 2020 | $ | 13,834 |  |  | $ | 7,148 |  |  | $ | 2,738 |  |  | $ | (2,153) |  |  | $ | (56) |  |  | $ | 21,511 |
Schedule Of Deferred Tax Assets And Liabilities Balance Sheet Classification | The Company’s net deferred tax assets and liabilities are classified in the Consolidated Balance Sheets as of December 31, 2022 and 2021 as follows:
| 2022 |  | 2021
Non-current deferred tax assets | $ | 11,218 |  |  | $ | 16,138 |
Non-current deferred tax liabilities | 160,294 |  |  | 179,025 |
Net deferred tax liability | $ | (149,076) |  |  | $ | (162,887) |
Schedule of Effective Income Tax Rate Reconciliation | The following is a reconciliation of income taxes at the Federal statutory rate with income taxes recorded by the Company for the years ended December 31, 2022, 2021 and 2020. Certain immaterial reclassifications within the presentation of the reconciliation of income taxes have been made to the years ended December 31, 2021 and 2020:
| 2022 |  | 2021 |  | 2020
Income tax provision at the Federal statutory tax rate | $ | 1,495 |  |  | $ | 30,868 |  |  | $ | 5,699 |
Unremitted earnings | (1,839) |  |  | 1,841 |  |  | (2,308) |
Tax law changes / reform | 823 |  |  | 1,955 |  |  | (1,059) |
U.S. tax on foreign operations | 4,864 |  |  | 10,479 |  |  | 5,140 |
Pension settlement | — |  |  | — |  |  | (2,247) |
Foreign derived intangible income | (917) |  |  | (8,698) |  |  | (7,339) |
Non-deductible acquisition expenses | 45 |  |  | 129 |  |  | 131 |
Withholding taxes | 7,785 |  |  | 6,584 |  |  | 7,809 |
Foreign tax credits | (5,850) |  |  | (14,725) |  |  | (4,699) |
Share-based compensation | 1,234 |  |  | 600 |  |  | 335 |
Foreign tax rate differential | 4,782 |  |  | 1,712 |  |  | 332 |
Research and development credit | (1,757) |  |  | (1,685) |  |  | (1,018) |
Audit Settlements | 2,697 |  |  | 1,378 |  |  | 807 |
Uncertain tax positions | (6,375) |  |  | 519 |  |  | 1,990 |
State income tax provisions, net | 432 |  |  | (1,446) |  |  | (2,245) |
Non-deductible meals and entertainment | 146 |  |  | 426 |  |  | 290 |
Intercompany transfer of intangible assets | (1,932) |  |  | 4,347 |  |  | (4,384) |
Goodwill Impairment | 19,550 |  |  | — |  |  | — |
Miscellaneous items, net | (258) |  |  | 655 |  |  | (2,530) |
Taxes on income before equity in net income of associated companies | $ | 24,925 |  |  | $ | 34,939 |  |  | $ | (5,296) |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years ended December 31, 2022, 2021 and 2020, respectively, is as follows:
| 2022 |  | 2021 |  | 2020
Unrecognized tax benefits as of January 1 | $ | 22,464 |  |  | $ | 22,152 |  |  | $ | 19,097 |
(Decrease) increase in unrecognized tax benefits taken in prior periods | (1,174) |  |  | 1,002 |  |  | 2,025 |
Increase in unrecognized tax benefits taken in current period | 953 |  |  | 2,915 |  |  | 3,095 |
Decrease in unrecognized tax benefits due to lapse of statute of limitations | (2,378) |  |  | (1,527) |  |  | (2,024) |
Decrease in unrecognized tax benefits due to audit settlements | (2,509) |  |  | (1,104) |  |  | (1,635) |
Increase in unrecognized tax benefits due to acquisition | — |  |  | — |  |  | 597 |
(Decrease) increase due to foreign exchange rates | (1,016) |  |  | (974) |  |  | 997 |
Unrecognized tax benefits as of December 31 | $ | 16,340 |  |  | $ | 22,464 |  |  | $ | 22,152 |

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