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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Deferred Tax Assets and Deferred Tax Liabilities | The deferred tax assets and deferred tax liabilities and related valuation allowance were comprised of the following:
|  | December 31, |
|  | 2019 |  |  | 2018 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating losses |  | $ | 17,881 |  |  | $ | 7,666 |
Intangible assets |  |  | 33,609 |  |  |  | 42,853 |
Research and development credits |  |  | 9,752 |  |  |  | 8,211 |
Depreciation |  |  | 7,223 |  |  |  | 6,321 |
Valuation reserves and accrued liabilities |  |  | 7,196 |  |  |  | 4,849 |
Foreign tax credit |  |  | 262 |  |  |  | 376 |
Stock compensation |  |  | 3,485 |  |  |  | 4,128 |
Inventory |  |  | 1,284 |  |  |  | 1,069 |
Patents |  |  | 134 |  |  |  | 150 |
Defined benefit obligation |  |  | 2,027 |  |  |  | 1,796 |
Other credits |  |  | 11,491 |  |  |  | 3,701 |
Other |  | $ | 114 |  |  |  | 89 |
Total deferred tax asset |  |  | 94,458 |  |  |  | 81,209 |
Valuation allowance |  |  | (28,763 | ) |  |  | (9,977 | )
Deferred tax liabilities: |  |  |  |  |  |  |  |
Unrealized foreign currency exchange gains |  |  | (674 | ) |  |  | (554 | )
Undistributed profits of subsidiary |  |  | (4,629 | ) |  |  | (4,352 | )
Property and equipment |  |  | (3,366 | ) |  |  | (2,896 | )
Other |  |  | (733 | ) |  |  | (583 | )
Total deferred tax liability |  |  | (9,402 | ) |  |  | (8,385 | )
Net deferred tax asset |  | $ | 56,293 |  |  | $ | 62,847 |
Reconciliations Between Statutory Federal Income Tax Rate and Effective Rate | Reconciliations between the statutory Federal income tax rate and the effective rate of income tax expense for each of the three years in the period ended December 31, 2019 are as follows:
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Statutory Federal income tax rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 34.0 | %
Increase (decrease) resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Change in Valuation Allowance |  |  | 30.7 | % |  |  | (6.6 | )% |  |  | 10.6 | %
Effect of different tax rates of foreign jurisdictions |  |  | (24.8 | )% |  |  | (6.6 | )% |  |  | (20.8 | )%
US Tax Reform Items |  |  | 4.3 | % |  |  | 10.8 | % |  |  | 29.1 | %
Research and Development Credits |  |  | (2.3 | )% |  |  | (2.5 | )% |  |  | (4.6 | )%
Non-deductible expenses |  |  | 2.1 | % |  |  | 3.4 | % |  |  | 2.4 | %
Foreign, state and local tax, net of Federal benefit |  |  | 1.7 | % |  |  | 1.8 | % |  |  | 0.8 | %
Tax effects of intercompany transfers |  |  | 1.5 | % |  |  | 0.8 | % |  |  | (5.0 | )%
Undistributed profit of subsidiaries |  |  | 1.2 | % |  |  | 1.2 | % |  |  | 5.8 | %
Other |  |  | 1.2 | % |  |  | 4.6 | % |  |  | (1.0 | )%
Stock Compensation Expense |  |  | 0.0 | % |  |  | 0.0 | % |  |  | (2.2 | )%
Effective Rate |  |  | 36.6 | % |  |  | 27.9 | % |  |  | 49.1 | %
Net Operating Loss Carryforwards | The Company has Net Operating Loss (“NOL”) carryforwards as follows:
Jurisdiction |  | Amount as of December 31, 2019 |  |  | Years of Expiration
U.S. Federal and state income tax |  | $ | 85,828 |  |  | 2020-2039
Foreign |  | $ | 13,153 |  |  | 2020-2024
Foreign |  | $ | 109,665 |  |  | Never
Earnings Before Income Taxes | The earnings before income taxes and our tax provision are comprised of the following:
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Income (loss) before income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  | $ | 74,531 |  |  | $ | 10,092 |  |  | $ | 1,258 |
Foreign |  |  | (15,380 | ) |  |  | 48,027 |  |  |  | 67,997 |
Total income before income taxes |  | $ | 59,151 |  |  | $ | 58,119 |  |  | $ | 69,255 |
Provision for Income Taxes |
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Current income tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 262 |  |  | $ | 340 |  |  | $ | 4,140 |
State and local |  |  | 94 |  |  |  | (71 | ) |  |  | 150 |
Foreign |  |  | 17,672 |  |  |  | 9,224 |  |  |  | 24,672 |
Total current income tax expense |  |  | 18,028 |  |  |  | 9,493 |  |  |  | 28,962 |
Deferred income tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (2,490 | ) |  |  | (1,422 | ) |  |  | 15,207 |
State and local |  |  | (1 | ) |  |  | 20 |  |  |  | 2,308 |
Foreign |  |  | 6,108 |  |  |  | 8,129 |  |  |  | (12,449 | )
Total deferred income tax expense |  |  | 3,617 |  |  |  | 6,727 |  |  |  | 5,066 |
Total tax expense |  | $ | 21,645 |  |  | $ | 16,220 |  |  | $ | 34,028 |
Reconciliation of Unrecognized Tax Benefits | The reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Balance at beginning of year |  | $ | 2,819 |  |  | $ | 3,812 |  |  | $ | 3,877 |
Additions based on tax position related to current year |  |  | 661 |  |  |  | 221 |  |  |  | 1,758 |
Additions based on tax position related to prior year |  |  | 352 |  |  |  | 423 |  |  |  | (105 | )
Reductions from settlements and statute of limitation expiration |  |  | — |  |  |  | (1,469 | ) |  |  | (2,247 | )
Effect of foreign currency translation |  |  | (37 | ) |  |  | (168 | ) |  |  | 529 |
Balance at end of year |  | $ | 3,795 |  |  | $ | 2,819 |  |  | $ | 3,812 |

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