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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The Company's income (loss) before income taxes and income tax (benefit) expense, each by tax jurisdiction, consists of the following (dollars in thousands):

						Year ended December 31,
						2025						2024						2023
Income (loss) before income taxes:
Domestic						$	(7,590)					$	(31,200)					$	3,890
Foreign						31,850						27,020						31,960
Total income (loss) before income taxes						$	24,260					$	(4,180)					$	35,850
Current income tax (benefit) expense:
Federal						$	(10,530)					$	(6,260)					$	1,280
State and local						(1,230)						250						580
Foreign						5,510						8,010						8,810
Total current income tax (benefit) expense						(6,250)						2,000						10,670
Deferred income tax (benefit) expense:
Federal						(44,850)						(1,100)						(220)
State and local						1,510						(670)						(430)
Foreign						1,540						(2,460)						(3,710)
Total deferred income tax (benefit) expense						(41,800)						(4,230)						(4,360)
Income tax (benefit) expense						$	(48,050)					$	(2,230)					$	6,310

Schedule of Deferred Tax Assets and Liabilities

The components of deferred taxes are as follows (dollars in thousands):

						December 31, 2025						December 31, 2024
Deferred tax assets:
Accounts receivable						$	740					$	900
Inventories						1,040						1,790
Accrued liabilities and other long-term liabilities						16,210						18,460
Operating lease liability						7,970						8,220
Research and experimentation costs						—						5,000
Tax loss and credit carryforwards						26,410						27,520
Outside basis difference on held for sale assets (Aerospace Group)						53,900						—
Other						(740)						(290)
Gross deferred tax asset						105,530						61,600
Valuation allowances						(14,940)						(15,500)
Net deferred tax asset						90,590						46,100
Deferred tax liabilities:
Property and equipment						(19,740)						(20,810)
Right of use asset						(7,280)						(7,670)
Goodwill and other intangible assets						(26,950)						(24,050)
Investment in foreign affiliates, including withholding tax						(660)						(390)
Gross deferred tax liability						(54,630)						(52,920)
Net deferred tax asset (liability)						$	35,960					$	(6,820)

Schedule of Effective Income Tax Rate Reconciliation

As required by ASU 2023-09, the following table presents the differences between income taxes from continuing operations for financial reporting purposes and the U.S. statutory rate of 21% for the year ended December 31, 2025 (dollars in thousands):

						Year ended December 31, 2025
						Amount						Percent
U.S. federal statutory tax rate						$	5,100					21.0		%
State and local income taxes, net of federal income tax effect						240						1.0		%
Foreign tax effects
Brazil
Statutory tax rate difference between foreign jurisdictions and United States						870						3.6		%
Other						10						—		%
China
Statutory tax rate difference between foreign jurisdictions and United States						320						1.3		%
Other						150						0.6		%
Germany
Net operating losses utilization from German Profit and Loss Sharing Agreement						(1,030)						(4.2)		%
Other						(210)						(0.9)		%
Italy
Italy regional tax (IRAP)						390						1.6		%
Tax effect of special depreciation incentives (Hyper/Super Depreciation)						(420)						(1.7)		%
Other						30						0.1		%
Netherlands
Deduction of loss from liquidation of foreign subsidiary						(1,180)						(4.9)		%
Global Minimum Tax (Pillar Two)						840						3.5		%
Other						(310)						(1.3)		%
United Kingdom
Statutory tax rate difference between foreign jurisdictions and United States						540						2.2		%
Other						(590)						(2.4)		%
Other foreign jurisdictions						350						1.4		%
Effect of cross-border tax laws						(70)						(0.3)		%
Tax credits
Research and development tax credits						(350)						(1.4)		%
Nontaxable or nondeductible items
Share-based compensation						590						2.4		%
Interest expense						1,330						5.5		%
Other						90						0.4		%
Changes in unrecognized tax						(150)						(0.6)		%
Other adjustments
Outside basis difference on held for sale assets (Aerospace Group)						(53,900)						(222.2)		%
Realized outside basis difference on sale of Arrow Engine						(650)						(2.7)		%
Other						(40)						(0.2)		%
Total tax benefit / Effective tax rate						$	(48,050)					(198.1)		%

For 2025, the effect of the state and local income tax category was primarily attributable to California, and the effect of the foreign tax category was primarily attributable to the Netherlands.

The following is a reconciliation of income tax expense computed at the U.S. federal statutory rate to income tax expense allocated to income before income taxes (dollars in thousands) for years ended December 31, 2024 and 2023:

						Year ended December 31,
						2024						2023
U.S. federal statutory rate						21		%				21		%
Tax at U.S. federal statutory rate						$	(870)					$	7,520
State and local taxes, net of federal tax benefit						(560)						160
Differences in statutory foreign tax rates						2,080						3,080
Change in recognized tax benefits						(420)						(120)
Share-based compensation						330						430
Tax credits and incentives						(1,230)						(1,330)
Net change in valuation allowance						(1,280)						(2,920)
Nondeductible compensation						(430)						560
Other, net						150						(1,070)
Income tax (benefit) expense						$	(2,230)					$	6,310

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the change in the UTBs for the years ended December 31, 2025 and 2024 is as follows (dollars in thousands):

						Unrecognized Tax Benefits
Balance at December 31, 2023						$	830
Tax positions related to current year:
Additions						120
Tax positions related to prior years:
Additions						—
Reductions						(20)
Settlements						—
Lapses in the statutes of limitations						(340)
Balance at December 31, 2024						$	590
Tax positions related to current year:
Additions						110
Tax positions related to prior years:
Additions						—
Reductions						(10)
Settlements						—
Lapses in the statutes of limitations						(210)
Balance at December 31, 2025						$	480

Schedule of Cash Flow, Supplemental Disclosures

As required by ASU 2023-09, income taxes paid (refunded) are as follows (dollars in thousands):

						Year ended December 31, 2025
Federal						$	2,330
State						(690)
California						(820)
Other						130
Foreign						8,990
Brazil						2,240
China						2,080
Germany						970
Italy						1,470
United Kingdom						1,230
Other						1,000
Total paid (refunded), net						$	10,630

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