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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

Schedule of Domestic and Foreign Components of Income before Income Tax Expense

The U.S. and foreign components of income before income tax expense for the years ended December 31, 2023, 2022 and 2021 are as follows:

		Year Ended December 31,
		2023			2022			2021
U.S.		$	4,652		$	(4,067)		$	15,986
Foreign			114,356			44,017			40,685
Total		$	119,008		$	39,950		$	56,671

Schedule of Components of Current and Deferred Income Tax Expense

The components of current and deferred income tax expense included in the Consolidated Statement of Operations for years ended December 31, 2023, 2022 and 2021 are as follows:

		Years Ended December 31,
		2023			2022			2021
Current:
Federal		$	6,957		$	4,685		$	5,857
State and local			1,883			1,415			1,538
Foreign			8,103			(15,538)			(837)
		$	16,943		$	(9,438)		$	6,558
Deferred:
Federal		$	(494)		$	(6)		$	(1,217)
State and local			(102)			(1)			(251)
Foreign			115			(1,289)			1,784
		$	(481)		$	(1,296)		$	316
Income tax expense/(benefit)		$	16,462		$	(10,734)		$	6,874

Schedule of Reconciliation of Statutory Federal Income Tax Rate and Company's Effective Rate

A reconciliation of the statutory federal income tax expense and the Company’s total income tax expense is as follows:

		Years Ended December 31,
		2023			2022			2021
U.S. federal statutory income tax		$	24,992		$	8,386		$	11,901
Gain on revaluation/termination of deferred consideration(1)			(13,007)			(5,842)			(424)
Non-deductible loss on extinguishment of convertible notes			2,263			—			—
Foreign operations			(1,868)			(2,919)			(3,211)
Non-deductible executive compensation			1,833			789			881
Decrease in unrecognized tax benefits, net			(1,386)			(19,871)			(4,998)
Change in valuation allowance – Capital losses			1,340			4,761			5
Expiration of capital losses			796			—			—
Stock-based compensation tax shortfalls			373			507			647
Change in tax-related indemnification assets, net			291			4,173			1,053
Change in foreign net operating losses (“NOLs”)			174			—			—
Blended state income tax rate, net of federal benefit			153			(134)			526
Change in valuation allowance—Foreign NOLs and interest carryforwards			—			(1,609)			—
GILTI			—			499			—
Other differences, net			508			526			494
Income tax expense/(benefit)		$	16,462		$	(10,734)		$	6,874

​(1)     The gain on revaluation of deferred consideration is not adjusted for income taxes as the obligation was assumed by a wholly-owned subsidiary that is based in Jersey, a jurisdiction where the Company is subject to a zero percent tax rate.

Schedule of Income Tax Payments By Jurisdiction

A summary of income taxes paid by jurisdiction for the years ended December 31, 2023, 2022 and 2021 is as follows:

		Years Ended December 31,
		2023			2022			2021
Federal		$	4,824		$	6,424		$	4,258
State and local			1,457			1,431			1,020
Foreign			9,875			4,645			3,178
		$	16,156		$	12,500		$	8,456

Schedule of Components of the Company’s Deferred Tax Assets

A summary of the components of the Company’s deferred tax assets at December 31, 2023 and 2022 is as follows:

		2023			2022
Deferred tax assets:
Capital losses		$	22,489		$	17,541
Accrued expenses			6,000			6,030
Stock-based compensation			2,468			1,526
NOLs—Foreign			1,502			1,609
Goodwill and intangible assets			895			1,085
Unrealized losses			335			3,821
Foreign currency translation adjustment			146			173
NOLs—U.S.			127			255
Operating lease liabilities			96			313
Outside basis differences			—			122
Other			401			341
Deferred tax assets			34,459			32,816
Deferred tax liabilities:
Fixed assets and prepaid assets			296			278
Unremitted earnings—European subsidiaries			186			205
Right of use assets—operating leases			96			313
Deferred tax liabilities			578			796
Total deferred tax assets less deferred tax liabilities			33,881			32,020
Less: Valuation allowance			(22,824)			(21,484)
Deferred tax assets, net		$	11,057		$	10,536

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:

		Total			Unrecognized Tax Benefits			Interest and Penalties
Balance at January 1, 2022		$	21,925		$	18,218		$	3,707
Decrease—Settlements(1)			(13,052)			(11,865)			(1,187)
Decrease—Lapse of statute of limitations(1)			(6,845)			(4,825)			(2,020)
Increases			26			—			26
Foreign currency translation(2)			(701)			(571)			(130)
Balance at December 31, 2022		$	1,353		$	957		$	396
Decrease—Lapse of statute of limitations			(1,353)			(957)			(396)
Balance at December 31, 2023		$	—		$	—		$	—

​(1)     In January 2022, an audit of ManJer’s tax returns (a Jersey-based subsidiary) for the years ended December 31, 2014, 2016, 2017 and 2018 were resolved in favor of ManJer. The settlement, as well as the reduction in unrecognized tax benefits from the lapse of the statute of limitations totaling $19,897 during the year ended December 31, 2022 was recorded as an income tax benefit along with an equal and offsetting amount recorded in other losses and gains, net, to recognize a reduction in the indemnification asset.

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

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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.

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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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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