v3.24.0.1

Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | and Income tax expense (benefit) consisted of the following:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In thousands)
Income (loss) from continuing operations before income taxes: |  |  |  |  |
Domestic operations | $ | (114,700) |  |  | $ | 8,826 |  |  | $ | (129,903) |
Foreign operations | 47,572 |  |  | (10,895) |  |  | 8,122 |
| $ | (67,128) |  |  | $ | (2,069) |  |  | $ | (121,781) |
Income tax expense (benefit): |  |  |  |  |
Current: |  |  |  |  |
Federal | $ | 949 |  |  | $ | 3,780 |  |  | $ | — |
State | 4,177 |  |  | 4,957 |  |  | 829 |
Foreign | 8,997 |  |  | 3,405 |  |  | 9,862 |
| 14,123 |  |  | 12,142 |  |  | 10,691 |
Deferred: |  |  |  |  |
Domestic operations | (22,866) |  |  | 73,370 |  |  | (29,801) |
Foreign operations | (4,546) |  |  | (49,392) |  |  | (418) |
| (27,412) |  |  | 23,978 |  |  | (30,219) |
| $ | (13,289) |  |  | $ | 36,120 |  |  | $ | (19,528) |
Schedule of Effective Income Tax Rate Reconciliation | The Company’s Income tax expense (benefit) from continuing operations differs from the amount that would be computed by applying the U.S. federal statutory rate as follows:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In thousands)
Taxes calculated at the U.S. federal statutory rate | $ | (14,097) |  |  | $ | (435) |  |  | $ | (25,574) |
State taxes | (1,835) |  |  | 10,878 |  |  | (4,473) |
Effect of tax rates on international operations | (3,053) |  |  | (5,106) |  |  | 681 |
Changes in valuation allowance | 4,646 |  |  | (12,126) |  |  | (4,496) |
Changes in tax reserves | (2,182) |  |  | 1,724 |  |  | (2,332) |
Research and development tax credits | (4,499) |  |  | (2,599) |  |  | (2,392) |
Net items not deductible (taxable) | (1,478) |  |  | 1,859 |  |  | 772 |
U.S. tax on international operations | 2,789 |  |  | 4,565 |  |  | 14,865 |
Transaction related costs | 840 |  |  | 27,699 |  |  | — |
Non-deductible employee compensation | 5,232 |  |  | 9,013 |  |  | 2,562 |
Other | 348 |  |  | 648 |  |  | 859 |
Income tax expense (benefit) | $ | (13,289) |  |  | $ | 36,120 |  |  | $ | (19,528) |
Schedule of Deferred Tax Assets and Liabilities | The significant components of deferred tax assets and liabilities included in continuing operations are as follows:
| December 31,
| 2023 |  | 2022
| (In thousands)
Deferred tax assets: |  |  |
Expenses currently not deductible | $ | 30,787 |  |  | $ | 30,428 |
Net operating loss and interest expense limitation carryforward | 119,247 |  |  | 162,713 |
Tax credit carryforward | 37,358 |  |  | 37,883 |
Depreciation and amortization | 57,901 |  |  | 28,659 |
Inventory reserves and capitalization | 18,585 |  |  | 6,731 |
Capitalized R&D expenditures | 41,343 |  |  | 29,579 |
Non-current lease liability | 17,798 |  |  | 17,815 |
Other | 6,069 |  |  | 2,171 |
Valuation allowance | (101,650) |  |  | (93,542) |
Deferred tax assets, net | 227,438 |  |  | 222,437 |
Deferred tax liabilities: |  |  |
Depreciation and amortization | (226,802) |  |  | (237,374) |
Lease asset - right of use | (16,463) |  |  | (17,380) |
Total deferred tax liabilities | (243,265) |  |  | (254,754) |
Total deferred tax liabilities, net | $ | (15,827) |  |  | $ | (32,317) |
Summary of Income Tax Contingencies | The Company records a liability for unrecognized income tax benefits for the amount of benefit included in its previously filed income tax returns and in its financial results expected to be included in income tax returns to be filed for periods through the date of its Consolidated Financial Statements for income tax positions for which it is not more likely than not to be sustained upon examination by the respective taxing authority. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:
| (In thousands)
Balance, January 1, 2021 | $ | 58,014 |
Acquisitions and divestitures | 4,450 |
Addition for tax positions taken in prior periods | 228 |
Addition for tax positions taken in the current period | 3,653 |
Reductions related to settlements with taxing authorities | (425) |
Reductions resulting from a lapse of applicable statute of limitations | (3,239) |
Other, including the impact of foreign currency translation | (734) |
Balance, December 31, 2021 | 61,947 |
Acquisitions and divestitures | (23,250) |
Addition for tax positions taken in the current period | 462 |
Reductions resulting from a lapse of applicable statute of limitations | (244) |
Other, including the impact of foreign currency translation | (616) |
Balance, December 31, 2022 | 38,299 |
Acquisitions and divestitures | 2,052 |
Addition for tax positions taken in prior periods | 3,659 |
Addition for tax positions taken in the current period | 2,251 |
Reductions related to settlements with taxing authorities | (125) |
Reductions resulting from a lapse of applicable statute of limitations | (14,240) |
Other, including the impact of foreign currency translation | 230 |
Balance, December 31, 2023 | $ | 32,126 |

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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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 19 -SubTopic 10 -Topic 740 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19 + Details
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