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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Domestic and Foreign Components of Income (Loss) Before Income Taxes | The domestic and foreign components of income (loss) before income taxes were as follows (in millions):
| Year Ended December 31, |
| 2023 |  |  | 2022 |  |  | 2021 |
United States | $ | 106 |  |  | $ | 108 |  |  | $ | (9 | )
Foreign |  | 32 |  |  |  | 31 |  |  |  | 21 |
Income (loss) before income taxes | $ | 138 |  |  | $ | 139 |  |  | $ | 12 |
Components of the Provision (Benefit) for Income Taxes | The provision (benefit) for income taxes for 2023, 2022 and 2021 consisted of the following (in millions):
| Year Ended December 31, |
| 2023 |  |  | 2022 |  |  | 2021 |
U.S. Federal: |  |  |  |  |  |  |  |
Current | $ | — |  |  | $ | — |  |  | $ | — |
Deferred |  | (99 | ) |  |  | — |  |  |  | (1 | )
|  | (99 | ) |  |  | — |  |  |  | (1 | )
U.S. State: |  |  |  |  |  |  |  |
Current |  | 1 |  |  |  | — |  |  |  | — |
Deferred |  | (15 | ) |  |  | — |  |  |  | — |
|  | (14 | ) |  |  | — |  |  |  | — |
Foreign: |  |  |  |  |  |  |  |
Current |  | 8 |  |  |  | 9 |  |  |  | 7 |
Deferred |  | (5 | ) |  |  | 1 |  |  |  | 1 |
|  | 3 |  |  |  | 10 |  |  |  | 8 |
Income tax provision (benefit) | $ | (110 | ) |  | $ | 10 |  |  | $ | 7 |
Reconciliation Between Effective Tax Rate | The reconciliation between the Company’s effective tax rate on income (loss) from continuing operations and the statutory tax rate is as follows (in millions):
| Year Ended December 31, |
| 2023 |  |  | 2022 |  |  | 2021 |
Income tax provision at federal statutory rate | $ | 29 |  |  | $ | 29 |  |  | $ | 3 |
Foreign tax rate differential |  | 1 |  |  |  | 1 |  |  |  | 2 |
State income tax provision (benefit), net of federal benefit |  | 4 |  |  |  | 4 |  |  |  | (1 | )
Nondeductible expenses |  | 2 |  |  |  | 2 |  |  |  | — |
Currency translation losses |  | — |  |  |  | 2 |  |  |  | — |
Capital loss carryforward |  | — |  |  |  | (2 | ) |  |  | — |
Change in valuation allowance |  | (148 | ) |  |  | (28 | ) |  |  | 2 |
Other |  | 2 |  |  |  | 2 |  |  |  | 1 |
Income tax provision (benefit) | $ | (110 | ) |  | $ | 10 |  |  | $ | 7 |
Effective tax rate |  | (79.7 | %) |  |  | 7.2 | % |  |  | 54.8 | %
Significant Components of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities were as follows (in millions):
| December 31, |
| 2023 |  |  | 2022 |  |  | 2021 |
Deferred tax assets: |  |  |  |  |  |  |  |
Allowances and operating liabilities | $ | 6 |  |  | $ | 6 |  |  | $ | 6 |
Net operating loss carryforwards |  | 58 |  |  |  | 76 |  |  |  | 92 |
Foreign tax credit carryforwards |  | 7 |  |  |  | 7 |  |  |  | 7 |
Allowance for doubtful accounts |  | 5 |  |  |  | 5 |  |  |  | 4 |
Inventory reserve |  | 8 |  |  |  | 9 |  |  |  | 10 |
Stock-based compensation |  | 4 |  |  |  | 5 |  |  |  | 5 |
Intangible assets |  | 36 |  |  |  | 45 |  |  |  | 57 |
Capital loss carryforward |  | 12 |  |  |  | 12 |  |  |  | 10 |
Tax over book basis in depreciable assets |  | 4 |  |  |  | 4 |  |  |  | 5 |
Lease liabilities |  | 15 |  |  |  | 11 |  |  |  | 9 |
Other |  | 2 |  |  |  | 3 |  |  |  | 3 |
Total deferred tax assets | $ | 157 |  |  | $ | 183 |  |  | $ | 208 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
ROU assets |  | (14 | ) |  |  | (10 | ) |  |  | (7 | )
Other |  | — |  |  |  | (1 | ) |  |  | — |
Total deferred tax liabilities | $ | (14 | ) |  | $ | (11 | ) |  | $ | (7 | )
Net deferred tax assets before valuation allowance |  | 143 |  |  |  | 172 |  |  |  | 201 |
Valuation allowance |  | (25 | ) |  |  | (173 | ) |  |  | (201 | )
Net deferred tax assets (liabilities) | $ | 118 |  |  | $ | (1 | ) |  | $ | — |

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