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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense (Benefit) | The provision (benefit) for income taxes consists of the following:
|  | Year Ended |
|  | December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |
Federal: |  |  |  |  |  |  |  |  |
Current |  | $ | (579 | ) |  | $ | (511 | ) |  | $ | 8,518 |
Deferred |  |  | 4,667 |  |  |  | 701 |  |  |  | 714 |
Total Federal |  |  | 4,088 |  |  |  | 190 |  |  |  | 9,232 |
State and Local: |  |  |  |  |  |  |  |  |
Current |  |  | (762 | ) |  |  | 769 |  |  |  | 3,476 |
Deferred |  |  | 1,602 |  |  |  | 346 |  |  |  | (221 | )
Total State and Local |  |  | 840 |  |  |  | 1,115 |  |  |  | 3,255 |
Foreign |  |  |  |  |  |  |  |  |
Current |  |  | 255 |  |  |  | 1,051 |  |  |  | 1,249 |
Deferred |  |  | (90 | ) |  |  | 72 |  |  |  | (25 | )
Total Foreign |  |  | 165 |  |  |  | 1,123 |  |  |  | 1,224 |
Total |  | $ | 5,093 |  |  | $ | 2,428 |  |  | $ | 13,711 |
Schedule of Effective Income Tax Rate Reconciliation | The reconciliation between the provision (benefit) for income taxes and the expected provision (benefit) for income taxes at the U.S. federal statutory rate is as follows:
|  | Year Ended |
|  | December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
|  | (in thousands) |
U.S. Operations |  | $ | (53,947 | ) |  | $ | 15,146 |  |  | $ | 46,970 |
Foreign Operations |  |  | (506 | ) |  |  | 5,003 |  |  |  | 5,487 |
Income (loss) before income taxes |  |  | (54,453 | ) |  |  | 20,149 |  |  |  | 52,457 |
Federal statutory rate |  |  | 21 | % |  |  | 21 | % |  |  | 21 | %
Provision (benefit) for income taxes at federal statutory rate |  |  | (11,435 | ) |  |  | 4,231 |  |  |  | 11,016 |
State taxes, net of federal benefit |  |  | (2,098 | ) |  |  | 812 |  |  |  | 1,434 |
Foreign tax rate differential |  |  | 90 |  |  |  | (60 | ) |  |  | 4 |
Change in valuation allowance |  |  | 18,353 |  |  |  | — |  |  |  | (2 | )
Excess tax benefit recognized |  |  | (232 | ) |  |  | (2,159 | ) |  |  | (413 | )
Foreign Derived Intangible Income (a) |  |  | — |  |  |  | (976 | ) |  |  | — |
Foreign tax credit |  |  | — |  |  |  | (770 | ) |  |  | (568 | )
R&D Credit (b) |  |  | (400 | ) |  |  | (878 | ) |  |  | — |
Global intangible low taxed income |  |  | 325 |  |  |  | 530 |  |  |  | 586 |
Prior year adjustment |  |  | — |  |  |  | — |  |  |  | 16 |
Change in unrecognized tax benefits |  |  | (382 | ) |  |  | 673 |  |  |  | 969 |
Section 162(m) |  |  | 395 |  |  |  | 634 |  |  |  | 414 |
Other |  |  | 477 |  |  |  | 391 |  |  |  | 255 |
Provision for income taxes |  | $ | 5,093 |  |  | $ | 2,428 |  |  | $ | 13,711 |
(a) The Company completed an analysis of its export sales during 2021. The FDII benefit is for the 2020 and 2021 tax years. (b) The Company completed a Research and Development credit analysis study during 2021. The R&D credit benefit is for the 2018 through 2021 tax years.
Schedule of Deferred Tax Assets and Liabilities | The tax effects of significant items comprising the Company’s deferred tax assets (liabilities) are as follows:
|  | December 31, 2022 |  |  | December 31, 2021 |
|  | (in thousands) |
Allowance for doubtful accounts |  | $ | 4 |  |  | $ | 4 |
Fixed assets |  |  | (897 | ) |  |  | (250 | )
Goodwill |  |  | (1,268 | ) |  |  | (1,162 | )
Employee benefits |  |  | 2,254 |  |  |  | 1,980 |
Intangible assets |  |  | 1,573 |  |  |  | 1,053 |
Inventories |  |  | 2,846 |  |  |  | 1,559 |
Lease liability |  |  | 2,227 |  |  |  | 1,655 |
Net operating loss |  |  | 7,354 |  |  |  | 1,271 |
Research and development expenses |  |  | 3,835 |  |  |  | — |
Right of use asset |  |  | (2,010 | ) |  |  | (1,547 | )
Sales reserves |  |  | 1,501 |  |  |  | 1,520 |
Unrecognized tax benefits |  |  | 470 |  |  |  | 575 |
Other |  |  | 852 |  |  |  | (68 | )
|  |  | 18,741 |  |  |  | 6,590 |
Valuation allowance |  |  | (19,244 | ) |  |  | (891 | )
Net deferred tax assets (liabilities) |  | $ | (503 | ) |  | $ | 5,699 |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
|  | December 31, 2022 |  |  | December 31, 2021 |
|  | (in thousands) |
Gross unrecognized tax benefit, beginning of period |  | $ | 3,415 |  |  | $ | 3,090 |
Additions based on tax positions related to the current year |  |  | 150 |  |  |  | 573 |
Additions related to tax positions in a prior year |  |  | 158 |  |  |  | — |
Settlements related to tax positions in a prior period |  |  | (321 | ) |  |  | — |
Decreases based on tax positions in a prior period |  |  | (400 | ) |  |  | (248 | )
Gross unrecognized tax benefit, end of period |  | $ | 3,002 |  |  | $ | 3,415 |
Summary of Income Tax Examinations | The Company files U.S., state, and foreign income tax returns in jurisdictions with various statutes of limitations. Below is a summary of the filing jurisdictions and open tax years:
|  | Open Years
U.S. Federal |  | 2019 - 2021
U.S. State and Local |  | 2018 - 2021
Non-U.S. |  | 2019 - 2021
On August 16, 2022, the Inflation Reduction Act was signed into law. The Inflation Reduction Act includes various tax provisions, which are effective for tax years beginning on or after January 1, 2023. For tax years beginning after December 31, 2021, the Tax Cuts & Jobs Act of 2017 eliminated the option to deduct research and development expenditures as incurred and instead required taxpayers to capitalize and amortize them over five or 15 years beginning in 2022. The Company included the impact of the research and development expenditures in its December 31, 2022 tax expense. The Inflation Reduction Act includes a 1% excise tax on publicly traded US corporations for the value of its stock repurchased after December 31, 2022. The Company does not expect the impact of the excise tax to be material to its financial statement. The Company will continue to monitor possible future impact of changes in tax legislation.

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