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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
(Loss) Earnings Before Income Taxes | The income tax provisions were calculated based upon the following components of (loss) earnings before income tax for the years ended December 31, 2020, 2019 and 2018:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
(Loss) earnings before income tax: |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  | $ | (11,374 | ) |  | $ | 74,531 |  |  | $ | 10,092 |
Foreign |  |  | 92,930 |  |  |  | (15,380 | ) |  |  | 48,027 |
Earnings before income tax |  | $ | 81,556 |  |  | $ | 59,151 |  |  | $ | 58,119 |
Provision for Income Taxes | The components of the provision for income taxes for the years ended December 31, 2020, 2019 and 2018 are summarized as follows:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Current income tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 784 |  |  | $ | 262 |  |  | $ | 340 |
State and local |  |  | 83 |  |  |  | 94 |  |  |  | (71 | )
Foreign |  |  | 20,150 |  |  |  | 17,672 |  |  |  | 9,224 |
Total current income tax expense |  |  | 21,017 |  |  |  | 18,028 |  |  |  | 9,493 |
Deferred income tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (2,302 | ) |  |  | (2,490 | ) |  |  | (1,422 | )
State and local |  |  | 32 |  |  |  | (1 | ) |  |  | 20 |
Foreign |  |  | 3,119 |  |  |  | (5,252 | ) |  |  | 8,129 |
Total deferred income tax expense |  |  | 849 |  |  |  | (7,743 | ) |  |  | 6,727 |
Total income tax expense |  | $ | 21,866 |  |  | $ | 10,285 |  |  | $ | 16,220 |
Deferred Tax Assets and Deferred Tax Liabilities | The deferred tax assets and deferred tax liabilities and related valuation allowance were comprised of the following as of December 31, 2020 and 2019:
|  | December 31, |
|  | 2020 |  |  | 2019 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating losses |  | $ | 22,658 |  |  | $ | 17,881 |
Intangible assets |  |  | 29,145 |  |  |  | 33,743 |
Research and development credits |  |  | 10,773 |  |  |  | 9,752 |
Depreciation |  |  | 7,426 |  |  |  | 7,223 |
Valuation reserves and accrued liabilities |  |  | 7,131 |  |  |  | 7,196 |
Stock compensation |  |  | 4,200 |  |  |  | 3,485 |
Defined benefit obligation |  |  | 1,974 |  |  |  | 2,027 |
Inventory |  |  | 1,571 |  |  |  | 1,284 |
Other credits |  |  | 12,068 |  |  |  | 11,753 |
Unrealized foreign currency exchange loss |  |  | 1,431 |  |  |  | — |
Other |  |  | 64 |  |  |  | 113 |
Total deferred tax asset |  |  | 98,441 |  |  |  | 94,457 |
Valuation allowance |  |  | (17,197 | ) |  |  | (17,316 | )
Deferred tax liabilities: |  |  |  |  |  |  |  |
Unrealized foreign currency exchange gains |  |  | — |  |  |  | (674 | )
Undistributed profits of subsidiary |  |  | (5,727 | ) |  |  | (4,629 | )
Property and equipment |  |  | (2,758 | ) |  |  | (3,366 | )
Other |  |  | (572 | ) |  |  | (733 | )
Total deferred tax liability |  |  | (9,057 | ) |  |  | (9,402 | )
Net deferred tax asset |  | $ | 72,187 |  |  | $ | 67,739 |
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 the years ended December 31, 2020, 2019 and 2018 are as follows:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Statutory Federal income tax rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
Increase (decrease) resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Change in valuation allowance |  |  | (0.4 | )% |  |  | 11.5 | % |  |  | (6.6 | )%
Effect of different tax rates of foreign jurisdictions |  |  | (4.7 | )% |  |  | (24.8 | )% |  |  | (6.6 | )%
Audit settlements and statute expirations |  |  | 3.9 | % |  |  | 0.6 | % |  |  | (1.1 | )%
US tax reform items |  |  | 2.5 | % |  |  | 4.3 | % |  |  | 10.8 | %
Research and development credits |  |  | (1.4 | )% |  |  | (2.3 | )% |  |  | (2.5 | )%
Non-deductible expenses |  |  | 2.1 | % |  |  | 2.1 | % |  |  | 3.4 | %
Foreign, state and local tax, net of Federal benefit |  |  | 1.4 | % |  |  | 1.7 | % |  |  | 1.8 | %
Tax effects of intercompany transfers |  |  | 1.4 | % |  |  | 1.5 | % |  |  | 0.8 | %
Undistributed profit of subsidiaries |  |  | 0.9 | % |  |  | 1.2 | % |  |  | 1.2 | %
Other |  |  | 0.1 | % |  |  | 0.6 | % |  |  | 5.7 | %
Effective rate |  |  | 26.8 | % |  |  | 17.4 | % |  |  | 27.9 | %
Net Operating Loss Carryforwards | The Company has Net Operating Loss (“NOL”) carryforwards as follows:
Jurisdiction |  | Amount as of December 31, 2020 |  |  | Years of Expiration
U.S. state income tax |  | $ | 106,987 |  |  | 2021-2040
Foreign |  | $ | 7,441 |  |  | 2021-2025
Foreign |  | $ | 161,851 |  |  | Never
Reconciliation of Unrecognized Tax Benefits | The reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Balance at beginning of year |  | $ | 3,795 |  |  | $ | 2,819 |  |  | $ | 3,812 |
Additions based on tax position related to current year |  |  | 1,489 |  |  |  | 661 |  |  |  | 221 |
Additions based on tax position related to prior year |  |  | 179 |  |  |  | 352 |  |  |  | 423 |
Reductions from settlements and statute of limitation expiration |  |  | (650 | ) |  |  | — |  |  |  | (1,469 | )
Effect of foreign currency translation |  |  | 154 |  |  |  | (37 | ) |  |  | (168 | )
Balance at end of year |  | $ | 4,967 |  |  | $ | 3,795 |  |  | $ | 2,819 |

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