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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Consolidated Income (loss) From Continuing Operations Before Income Taxes By Location | The “Income before income tax expense” line item in the consolidated statements of operations consisted of:
(Dollars in thousands) | 2021 |  | 2020 |  | 43465
Domestic | $ | 34,435 |  |  | $ | (4,371) |  |  | $ | (18,711) |
International | 91,845 |  |  | 72,905 |  |  | 73,837 |
Total | $ | 126,280 |  |  | $ | 68,534 |  |  | $ | 55,126 |
Schedule of Income Tax Expense (benefit) By Location | The “Income tax expense” line item in the consolidated statements of operations consisted of:
(Dollars in thousands) | Current |  | Deferred |  | Total
2021 |  |  |  |  |
Domestic | $ | 5,155 |  |  | $ | (2,938) |  |  | $ | 2,217 |
International | 16,187 |  |  | (257) |  |  | 15,930 |
Total | $ | 21,342 |  |  | $ | (3,195) |  |  | $ | 18,147 |
2020 |  |  |  |  |
Domestic | $ | 5,340 |  |  | $ | (11,012) |  |  | $ | (5,672) |
International | 26,610 |  |  | (2,394) |  |  | 24,216 |
Total | $ | 31,950 |  |  | $ | (13,406) |  |  | $ | 18,544 |
2019 |  |  |  |  |
Domestic | $ | 3,372 |  |  | $ | (16,827) |  |  | $ | (13,455) |
International | 21,984 |  |  | (722) |  |  | 21,262 |
Total | $ | 25,356 |  |  | $ | (17,549) |  |  | $ | 7,807 |
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities as of December 31, 2021 and 2020, were comprised of the following:
(Dollars in thousands) | 2021 |  | 2020
Deferred tax assets |  |  |
Accrued employee benefits and compensation | $ | 10,647 |  |  | $ | 6,199 |
Net operating loss carryforwards | 3,785 |  |  | 2,563 |
Tax credit carryforwards | 13,170 |  |  | 15,081 |
Reserves and accruals | 5,145 |  |  | 6,581 |
Operating leases | 4,191 |  |  | 665 |
Capitalized research and development | 16,622 |  |  | 14,167 |
Other | 5,299 |  |  | 1,824 |
Total deferred tax assets | 58,859 |  |  | 47,080 |
Less deferred tax asset valuation allowance | (9,775) |  |  | (9,250) |
Total deferred tax assets, net of valuation allowance | 49,084 |  |  | 37,830 |
Deferred tax liabilities |  |  |
Depreciation and amortization | 32,669 |  |  | 10,282 |
Postretirement benefit obligations | 2,071 |  |  | 2,001 |
Unremitted earnings | 2,335 |  |  | 2,426 |
Operating leases | 4,422 |  |  | 714 |
Other | 4,367 |  |  | 2,115 |
Total deferred tax liabilities | 45,864 |  |  | 17,538 |
Net deferred tax asset (liability) | $ | 3,220 |  |  | $ | 20,292 |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense differs from the amount computed by applying the U.S. federal statutory income tax rate to income before income taxes. The reasons for this difference were as follows:
(Dollars in thousands) | 2021 |  | 2020 |  | 2019
Tax expense at Federal statutory income tax rate | $ | 26,519 |  |  | $ | 14,392 |  |  | $ | 11,576 |
Impact of foreign operations | 2,020 |  |  | 1,193 |  |  | 107 |
Foreign source income, net of tax credits | (4,944) |  |  | 1,050 |  |  | (2,248) |
State tax, net of federal | 175 |  |  | (313) |  |  | (690) |
Unrecognized tax benefits | (8,823) |  |  | 5,800 |  |  | 543 |
Equity compensation excess tax deductions | 262 |  |  | (791) |  |  | (2,902) |
General business credits | (867) |  |  | (931) |  |  | (656) |
Distribution related foreign taxes | 2,516 |  |  | 2,332 |  |  | 1,240 |
Executive compensation limitation | 1,570 |  |  | 900 |  |  | 589 |
Valuation allowance change | 525 |  |  | (5,375) |  |  | (2,527) |
Disproportionate tax effect of pension settlement charges | — |  |  | — |  |  | 2,510 |
Other | (806) |  |  | 287 |  |  | 265 |
Income tax expense (benefit) | $ | 18,147 |  |  | $ | 18,544 |  |  | $ | 7,807 |
Schedule of Reconciliation of Unrecognized Tax Benefits | Unrecognized tax benefits, excluding potential interest and penalties, for the years ended December 31, 2021 and 2020, were as follows:
(Dollars in thousands) | 2021 |  | 2020
Beginning balance as of January 1 | $ | 15,688 |  |  | $ | 10,217 |
Gross increases - current period tax positions | 1,046 |  |  | 5,417 |
Gross increases - tax positions in prior periods | 1,150 |  |  | 46 |
Gross decreases - tax positions in prior periods | (9,151) |  |  | — |
Foreign currency exchange | (10) |  |  | 8 |
Settlements | (2,140) |  |  | — |
Ending balance as of December 31 | $ | 6,583 |  |  | $ | 15,688 |

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