v3.24.0.1

Income Taxes (Tables)

12 Months Ended

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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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 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.

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

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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.

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