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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | For financial reporting purposes, income before taxes includes the following components (in thousands):
| Years ended December 31,
| 2023 |  | 2022 |  | 2021
Domestic | $ | (4,111) |  |  | $ | (4,979) |  |  | $ | (5,956) |
Foreign | 42,547 |  |  | 50,067 |  |  | 31,868 |
| $ | 38,436 |  |  | $ | 45,088 |  |  | $ | 25,912 |
Schedule of Components of Income Tax Expense (Benefit) | The expense (benefit) for income taxes is comprised of (in thousands):
| Years ended December 31,
| 2023 |  | 2022 |  | 2021
Current: |  |  |  |  |
Federal | $ | 517 |  |  | $ | 21 |  |  | $ | 245 |
State and local | 162 |  |  | 97 |  |  | 38 |
Foreign | 11,903 |  |  | 10,457 |  |  | 8,442 |
| 12,582 |  |  | 10,575 |  |  | 8,725 |
Deferred: |  |  |  |  |
Federal | 154 |  |  | (2,808) |  |  | (2,992) |
State and local | (628) |  |  | 109 |  |  | (588) |
Foreign | 318 |  |  | 659 |  |  | 324 |
| (156) |  |  | (2,040) |  |  | (3,256) |
Total income tax expense | $ | 12,426 |  |  | $ | 8,535 |  |  | $ | 5,469 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of income tax expense (benefit) at the U.S. federal statutory income tax rate to the actual income tax provision is as follows (in thousands):
| Years ended December 31,
| 2023 |  | 2022 |  | 2021
Tax at statutory rate | $ | 8,072 |  |  | $ | 9,468 |  |  | $ | 5,441 |
State income taxes, net of U.S. federal tax benefit | (368) |  |  | 164 |  |  | (391) |
U.S. GILTI tax, net of foreign tax credits | 72 |  |  | 8 |  |  | 77 |
Effect of foreign operations | 2,378 |  |  | 1,246 |  |  | 2,096 |
Residual U.S. tax on foreign earnings | 899 |  |  | 291 |  |  | (258) |
Change in valuation allowance | 1,270 |  |  | (1,629) |  |  | (1,204) |
Change in unrecognized tax benefits, net | 476 |  |  | (1,000) |  |  | 107 |
Impairment of goodwill | — |  |  | — |  |  | 237 |
Specialty tax credits | (520) |  |  | (639) |  |  | (333) |
Statutory rate changes | 56 |  |  | 3 |  |  | (282) |
Effect of foreign exchange | 128 |  |  | 667 |  |  | (35) |
Other | (37) |  |  | (44) |  |  | 14 |
Total income tax expense | $ | 12,426 |  |  | $ | 8,535 |  |  | $ | 5,469 |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):
| December 31,
| 2023 |  | 2022
Deferred tax assets: |  |  |
Pension and other postretirement costs | $ | 1,082 |  |  | $ | 1,775 |
Inventories | 4,102 |  |  | 4,057 |
Net operating/capital loss and interest carryforwards | 10,800 |  |  | 9,060 |
Tax credit carryforwards | 1,390 |  |  | 2,372 |
Deferred compensation | 2,845 |  |  | 2,921 |
Research and development costs | 4,707 |  |  | 2,940 |
Other accruals and reserves | 3,709 |  |  | 2,228 |
Total gross deferred tax assets | 28,635 |  |  | 25,353 |
Less: valuation allowance | (13,136) |  |  | (10,726) |
| 15,499 |  |  | 14,627 |
Deferred tax liabilities: |  |  |
Tax over book depreciation | (2,151) |  |  | (1,453) |
Investment in subsidiary | (2,121) |  |  | (2,137) |
Intangible assets, including tax deductible goodwill | (10,843) |  |  | (10,675) |
Total gross deferred tax liabilities | (15,115) |  |  | (14,265) |
Net deferred tax assets | $ | 384 |  |  | $ | 362 |
Summary of Valuation Allowance | Significant valuation allowances are as follows (in thousands):
| December 31,
Jurisdiction | 2023 |  | 2022
U.S. federal | $ | 4,402 |  |  | $ | 2,647 |
U.S. state (net of U.S. federal tax benefit) | 6,545 |  |  | 6,026 |
Israel - capital losses | 1,369 |  |  | 1,287 |
Summary of Operating Loss Carryforwards | The following table summarizes significant net operating losses, capital losses and credit carryforwards as of December 31, 2023 (in thousands):
| December 31, |  |
Jurisdiction | 2023 |  | Expiring
U.S. federal net operating losses | $ | 3,566 |  |  | No expiration
U.S. federal interest expense carryover | 12,209 |  |  | No expiration
U.S. foreign tax credit | 577 |  |  | 2028-2032
U.S. state net operating losses | 120,710 |  |  | 2023-2042
Israel capital losses | 5,928 |  |  | No expiration
Summary of Income Tax Contingencies | The following table summarizes changes in the Company's gross liabilities, excluding interest and penalties, associated with unrecognized tax benefits (in thousands):
| December 31,
| 2023 |  | 2022 |  | 2021
Balance at beginning of year | $ | 439 |  |  | $ | 1,282 |  |  | $ | 1,244 |
Addition based on tax positions related to current year | 589 |  |  | 176 |  |  | 52 |
Addition based on tax positions related to prior years | — |  |  | 216 |  |  | — |
Reduction based on tax positions related to prior years | (128) |  |  | — |  |  | — |
Currency translation adjustments | (8) |  |  | (6) |  |  | 41 |
Reduction for settled tax examinations | — |  |  | (1,229) |  |  | — |
Reduction for payments made | (94) |  |  | — |  |  | — |
Reduction for lapses of statute of limitations | — |  |  | — |  |  | (55) |
Balance at end of year | $ | 798 |  |  | $ | 439 |  |  | $ | 1,282 |

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