XML 66 R53.htm IDEA: XBRL DOCUMENT
v3.23.1

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of income (loss) before taxes | The components of (loss) income from continuing operations before income taxes consisted of the following (in thousands):
| Year ended December 31,
| 2022 |  | 2021 |  | 2020
(Loss) income before income taxes: |  |  |  |  |
United States | $ | (84,784) |  |  | $ | (29,985) |  |  | $ | 123,817 |
Foreign | (27,815) |  |  | (178,158) |  |  | (30,500) |
| $ | (112,599) |  |  | $ | (208,143) |  |  | $ | 93,317 |
Schedule of income tax expense (benefit) | The (benefit) provision for income taxes from continuing operations consisted of the following (in thousands):
| Year ended December 31,
| 2022 |  | 2021 |  | 2020
(Benefit) provision for income taxes: |  |  |  |  |
Current: |  |  |  |  |
Federal | $ | (3,582) |  |  | $ | 5,033 |  |  | $ | 677 |
State | 2,573 |  |  | 1,836 |  |  | 1,310 |
Foreign | 4,744 |  |  | 7,661 |  |  | 7,355 |
Total current | 3,735 |  |  | 14,530 |  |  | 9,342 |
Deferred: |  |  |  |  |
Federal | (10,333) |  |  | (38,027) |  |  | 1,957 |
State | (4,045) |  |  | 97 |  |  | (15) |
Foreign | (3,873) |  |  | (7,558) |  |  | (6,558) |
Total deferred | (18,251) |  |  | (45,488) |  |  | (4,616) |
Total | $ | (14,516) |  |  | $ | (30,958) |  |  | $ | 4,726 |
Schedule of effective income tax rate reconciliation | A reconciliation of the Company's effective tax rate for continuing operations to the U.S. statutory federal rate is as follows:
| Year ended December 31,
| 2022 |  | 2021 |  | 2020
U.S. statutory income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal benefit | 1.8 |  |  | (0.7) |  |  | 1.1 |
Foreign income taxes | (1.4) |  |  | 0.5 |  |  | 0.2 |
Stock-based compensation | (2.4) |  |  | (0.1) |  |  | 1.0 |
Tax credits | 2.2 |  |  | 1.6 |  |  | (2.8) |
Uncertain tax positions | 1.3 |  |  | 0.5 |  |  | 0.5 |
Valuation allowance | (3.8) |  |  | 2.5 |  |  | (20.3) |
Non-deductible goodwill impairment | — |  |  | (11.7) |  |  | — |
Other permanent adjustments | (2.6) |  |  | 0.9 |  |  | 1.8 |
Permanent foreign exchange adjustments | (1.4) |  |  | 0.5 |  |  | 1.8 |
Other, net | (1.8) |  |  | (0.1) |  |  | 0.8 |
Effective income tax rate | 12.9 | % |  | 14.9 | % |  | 5.1 | %
Summary of deferred tax assets and liabilities | The following is a summary of the significant components of deferred income tax assets and liabilities (in thousands):
| December 31,
| 2022 |  | 2021
Assets: |  |  |
Net operating loss carryforwards | $ | 413,773 |  |  | $ | 437,669 |
Capital loss carryforwards | 99,505 |  |  | 79,716 |
Tax credit carryforwards | 28,902 |  |  | 23,450 |
Capitalized research and development expenses | 40,668 |  |  | 18,106 |
Deferred revenue | 3,510 |  |  | 3,472 |
Accrued expenses | 9,068 |  |  | 7,505 |
Inventory | 2,820 |  |  | 3,102 |
Stock-based compensation | 1,709 |  |  | 1,689 |
Fixed assets | 2,506 |  |  | 2,710 |
Lease liabilities | 12,829 |  |  | 15,250 |
Mark-to-market investments | — |  |  | 1,714 |
Other temporary differences | 1,324 |  |  | 3,839 |
| 616,614 |  |  | 598,222 |
Valuation allowance | (488,550) |  |  | (471,515) |
Total deferred tax assets | 128,064 |  |  | 126,707 |
Liabilities: |  |  |
Intangible assets | (55,037) |  |  | (65,647) |
Operating lease right-of-use assets | (8,519) |  |  | (10,370) |
Interest rate swap | (6,168) |  |  | — |
Unremitted foreign income | (8,441) |  |  | (11,519) |
Total deferred tax liabilities | (78,165) |  |  | (87,536) |
Total net deferred tax assets | $ | 49,899 |  |  | $ | 39,171 |
The deferred tax assets and liabilities based on tax jurisdictions are presented in the Company's consolidated balance sheets as follows:
| December 31,
| 2022 |  | 2021
Deferred income taxes - net noncurrent assets | $ | 53,649 |  |  | $ | 47,287 |
Deferred income taxes - net noncurrent liabilities | (3,750) |  |  | (8,116) |
| $ | 49,899 |  |  | $ | 39,171 |
Schedule of unrecognized tax benefits | A reconciliation of the Company's unrecognized tax benefits is as follows (in thousands):
| Year ended December 31,
| 2022 |  | 2021 |  | 2020
Unrecognized tax benefits at January 1 | $ | 17,813 |  |  | $ | 14,054 |  |  | $ | 2,932 |
Increases related to current year tax positions | 156 |  |  | 4,017 |  |  | 485 |
Increases related to prior period tax positions | 40 |  |  | 3,168 |  |  | 11,209 |
Decreases related to the lapse of the applicable statute of limitations | (560) |  |  | (3,087) |  |  | (122) |
Decreases related to prior period tax positions | $ | (5,448) |  |  | $ | (339) |  |  | $ | (450) |
Unrecognized tax benefits at December 31 | $ | 12,001 |  |  | $ | 17,813 |  |  | $ | 14,054 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration