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INCOME TAX PROVISION (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income before income taxes

Income before income taxes was comprised of the following for the years ended December 31:

(in thousands)						2024						2023						2022
U.S.						$	11,072					$	(7,636)					$	51,640
Foreign						65,425						47,435						32,738
Income before income taxes						$	76,497					$	39,799					$	84,378

Components of income tax provision

The components of the income tax provision were as follows for the years ended December 31:

(in thousands)						2024						2023						2022
Current tax provision:
Federal						$	24,922					$	20,999					$	27,789
State						5,189						6,331						8,507
Foreign						13,831						18,118						11,081
Total current tax provision						43,942						45,448						47,377
Deferred tax provision:
Federal						(21,467)						(20,357)						(21,368)
State						(4,511)						(4,389)						(5,710)
Foreign						5,588						(7,130)						(1,451)
Total deferred tax provision						(20,390)						(31,876)						(28,529)
Income tax provision						$	23,552					$	13,572					$	18,848

Effective tax rate reconciliation

The effective tax rate on pretax income reconciles to the U.S. federal statutory tax rate for the years ended December 31 as follows:

						2024						2023						2022
Income tax at federal statutory rate						21.0		%				21.0		%				21.0		%
Foreign tax rate differences						4.2		%				5.7		%				1.9		%
Tax on repatriation of foreign earnings						4.0		%				6.2		%				2.2		%
Non-deductible executive compensation						3.0		%				4.1		%				2.2		%
Change in valuation allowances						1.6		%				17.5		%				7.2		%
Goodwill impairment charges						1.0		%				—						—
State income tax expense, net of federal income tax benefit						0.7		%				2.0		%				2.7		%
Tax impact of share-based compensation						0.6		%				6.7		%				3.2		%
Return to provision adjustments						(5.3		%)				2.0		%				(1.9		%)
Research and development tax credit						(1.8		%)				(3.0		%)				(1.2		%)
Change in state deferred income tax rates						(0.2		%)				1.7		%				0.3		%
Business exits (Note 6)						—						(30.2		%)				(15.8		%)
Other						2.0		%				0.4		%				0.5		%
Effective tax rate						30.8		%				34.1		%				22.3		%

Rollforward of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding accrued interest and penalties and the federal benefit of deductible state income tax, was as follows:

(in thousands)						2024						2023						2022
Balance, beginning of year						$	2,390					$	2,635					$	2,551
Additions for tax positions of current year						413						249						250
Additions for tax positions of prior years						641						91						270
Reductions for tax positions of prior years						(30)						—						(45)
Settlements						—						(303)						—
Lapse of statutes of limitations						(241)						(282)						(391)
Balance, end of year						$	3,173					$	2,390					$	2,635

Deferred tax assets and liabilities

Tax-effected temporary differences that gave rise to deferred tax assets and liabilities as of December 31 were as follows:

						2024												2023
(in thousands)						Deferred tax assets						Deferred tax liabilities						Deferred tax assets						Deferred tax liabilities
Goodwill						$	—					$	46,947					$	—					$	40,572
Employee benefit plans						—						20,533						—						14,482
Prepaid assets						—						6,738						—						5,385
Cloud computing arrangements						—						6,480						—						10,337
Revenue recognition						—						6,356						—						7,187
Property, plant and equipment						—						5,067						—						4,529
Acquisition costs						—						1,602						—						1,604
Operating leases						16,844						13,203						20,078						15,923
Deductible interest carryforward						50,989						—						34,038						—
Net operating loss, tax credit, and capital loss carryforwards						24,255						—						22,639						—
Intangible assets						22,585						—						4,510						—
Reserves and accruals						7,272						—						9,522						—
Inventories						3,726						—						2,804						—
Deferred revenue						1,503						—						1,406						—
Gain on exit from payroll and human resources services business (Note 6)						—						—						6,100						—
All other						1,385						588						670						719
Total deferred taxes						128,559						107,514						101,767						100,738
Valuation allowances						(16,180)						—						(14,984)						—
Net deferred taxes						$	112,379					$	107,514					$	86,783					$	100,738

Rollforward of deferred income tax valuation allowances

Changes in our valuation allowances for the years ended December 31 were as follows:

(in thousands)						2024						2023						2022
Balance, beginning of year						$	(14,984)					$	(7,996)					$	(10,993)
Expense from change in allowances						(1,196)						(6,979)						(6,086)
Sale of business (Note 6)						—						—						8,745
Foreign currency translation						—						(9)						338
Balance, end of year						$	(16,180)					$	(14,984)					$	(7,996)

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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