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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Summary of Deferred Tax Asset Recorded

A summary of the components of the Company’s deferred tax assets at September 30, 2021 and December 31, 2020 are as follows:

		September 30, 2021				December 31, 2020
Deferred tax assets:
Capital losses		$	16,368			$	16,596
Accrued expenses			3,560				3,507
NOLs – Foreign			2,016				2,167
Goodwill and intangible assets			1,323				1,466
Interest carryforwards			1,223				2,235
Stock-based compensation			1,045				1,922
Unrealized losses			467				15
NOLs – U.S.			382				510
Outside basis differences			122				122
Operating lease liabilities			—				4,953
Other			315				96
Deferred tax assets			26,821				33,589

Deferred tax liabilities:
Fixed assets and prepaid assets			267				1,261
Foreign currency translation adjustment			226				293
Unremitted earnings – International subsidiaries			185				138
Right of use assets – operating leases			—				3,927
Allocated equity component of convertible notes			—				1,022
Deferred tax liabilities			678				6,641
Total deferred tax assets less deferred tax liabilities			26,143				26,948
Less: valuation allowance			(18,507	)			(18,885	)
Deferred tax assets, net		$	7,636			$	8,063

Schedule of Changes in Balance of Gross Unrecognized Tax Benefits

The table below sets forth the aggregate changes in the balance of these gross unrecognized tax benefits during the three and nine months ended September 30, 2021:

		Total				Unrecognized Tax Benefits				Interest and Penalties
Balance on January 1, 2021		$	27,016			$	21,850			$	5,166
Decrease - Lapse of statute of limitations(1)			(5,171	)			(3,559	)			(1,612	)
Increases			39				—				39
Foreign currency translation(2)			338				273				65
Balance at March 31, 2021		$	22,222			$	18,564			$	3,658
Increases			40				—				40
Foreign currency translation(2)			165				138				27
Balance at June 30, 2021		$	22,427			$	18,702			$	3,725
Increases			39				—				39
Foreign currency translation(2)			(594	)			(496	)			(98	)
Balance at September 30, 2021		$	21,872			$	18,206			$	3,666

(1) Recorded as an income tax benefit of $5,171 during the nine months ended September 30, 2021, along with an equal and offsetting amount recorded in other gains and losses, net, to recognize a reduction in the indemnification asset. During the nine months ended September 30, 2020, an income tax benefit of $5,981 was recorded along with an equal and offsetting amount in other gains and losses, net.

(2) The gross unrecognized tax benefits were accrued in British pounds.

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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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Tabular disclosure of the change in unrecognized tax benefits.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
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