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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income from continuing operations before income taxes for the years ended December 31, 2022, 2021 and 2020 was as follows (in thousands):

			Years Ended December 31,
			2022						2021						2020
Domestic			$	7,772					$	80,655					$	49,673
Foreign			91,141						80,429						102,783
Income before income taxes			$	98,913					$	161,084					$	152,456

Provision for Income Tax

Income tax expense (benefit) related to continuing operations consisted of the following (in thousands):

			Years Ended December 31,
			2022						2021						2020
Current:
Federal			$	13,327					$	22,368					$	5,831
State			1,941						1,445						923
Foreign			12,669						9,496						17,756
Total current			27,937						33,309						24,510
Deferred:
Federal			(5,851)						(4,902)						(151)
State			(1,359)						3,575						762
Foreign			5,472						7,928						4,922
Total deferred			(1,738)						6,601						5,533
Income tax expense			$	26,199					$	39,910					$	30,043

Reconciliation of Statutory Federal Income Tax Rate with Effective Income Tax Rate

A reconciliation of the statutory federal income tax rate with Consensus’ effective income tax rate is as follows:

			Years Ended December 31,
			2022						2021						2020
Statutory tax rate			21		%				21		%				21		%
State income taxes, net			1.2						2.9						0.9
Foreign rate differential			(1.8)						(0.1)						(2.8)
Foreign income inclusion			6.3						4.9						4.3
Foreign tax credit			(3.6)						(4.0)						(3.5)
Reserve for uncertain tax positions			2.1						0.5						0.1
Impact on deferred taxes of enacted tax law and rate changes			0.1						—						—
Tax credits and incentives			(2.4)						(0.1)						(0.1)
Executive compensation			3.1						0.2						—
Return to provision adjustments			0.8						—						1.3
Other			(0.3)						(0.5)						(1.4)
Effective tax rates			26.5		%				24.8		%				19.8		%

Deferred Tax Assets and Liabilities

Temporary differences and carryforwards which give rise to deferred tax assets and liabilities are as follows (in thousands):

			Years Ended December 31,
			2022						2021
Deferred tax assets:
Net operating loss carryforwards			$	44					$	48
Tax credit carryforwards			503						173
Accrued expenses			3,586						2,669
Allowance for bad debt			1,414						860
Share-based compensation expense			611						245
Basis difference in intangibles			20,056						30,887
Basis difference in developed software			1,089						—
Deferred revenue			425						—
Operating lease			4,269						4,196
State taxes			187						135
Section 163(j) interest limitation			5,521						1,144
Other			974						1,530
			$	38,679					$	41,887
Less: valuation allowance			(45)						(45)
Total deferred tax assets			$	38,634					$	41,842
Deferred tax liabilities:
Basis difference in property and equipment			$	(487)					$	(3,304)
ROU asset			(1,987)						(1,773)
Prepaid insurance			(907)						(312)
Other			—						(638)
Total deferred tax liabilities			$	(3,381)					$	(6,027)
Net deferred tax assets			$	35,253					$	35,815

Reconciliation of Unrecognized Tax Benefits

The aggregated changes in the balance of unrecognized tax benefits, which excludes interest and penalties, for 2022, 2021 and 2020, is as follows (in thousands):

			Years Ended December 31,
			2022						2021						2020
Beginning balance			$	3,735					$	3,050					$	3,015
Decreases related to tax positions taken during a prior year			(863)						—						—
Increases related to tax positions taken in the current year			2,870						685						35
Decreases related to expiration of statute of limitations			—						—						—
Ending balance			$	5,742					$	3,735					$	3,050

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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 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.

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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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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