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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

​

​	​	​	​	​	​	​	​	​	​
Year ended December 31		2020			2019			2018
(Loss) income before income taxes:	​	​	​	​	​	​	​	​	​
Domestic	​	$	(25,403)	​	$	30,464	​	$	32,907
Foreign	​	​	14,679	​	​	37,929	​	​	32,151
Total (loss) income before income taxes	​	$	(10,724)	​	$	68,393	​	$	65,058
​	​	​	​	​	​	​	​	​	​
Provision for income taxes:	​	​	​	​	​	​	​	​	​
Current:	​	​	​	​	​	​	​	​	​
Federal	​	$	(3)	​	$	(4,384)	​	$	2,370
State and foreign	​	​	5,182	​	​	6,900	​	​	6,288
Total current expense	​	$	5,179	​	$	2,516	​	$	8,658
​	​	​	​	​	​	​	​	​	​
Deferred:	​	​	​	​	​	​	​	​	​
Federal	​	$	(8,512)	​	$	6,780	​	$	3,788
State and foreign	​	​	559	​	​	(1,194)	​	​	(1,236)
Total deferred (benefit) provision	​	​	(7,953)	​	​	5,586	​	​	2,552
Total income tax (benefit) provision	​	$	(2,774)	​	$	8,102	​	$	11,210
​	​	​	​	​	​	​	​	​	​

​

Schedule of Effective Income Tax Rate Reconciliation

​

​ ​	​	​	​	​	​	​	​	​	​	​
Year ended December 31		​	2020		​	2019		​	2018	​
Statutory U.S. federal income tax (benefit) provision	​	$	(2,252)	​	$	14,363	​	$	13,662	​
State income taxes, net of federal tax benefit	​	​	(647)	​	​	152	​	​	95	​
Tax credits and incentives	​	​	(2,791)	​	​	(6,297)	​	​	(5,159)	​
Foreign tax rate differential	​	​	90	​	​	1,347	​	​	710	​
Impact of change in enacted tax law	​	​	1,108	​	​	993	​	​	(848)	​
Change in valuation allowance	​	​	2,174	​	​	(138)	​	​	(1,922)	​
U.S. tax on foreign earnings	​	​	(433)	​	​	(3,373)	​	​	664	​
Compensation and benefits	​	​	362	​	​	(469)	​	​	839	​
Other (A)	​	​	(385)	​	​	1,524	​	​	3,169	​
(Benefit) provision for income taxes	​	$	(2,774)	​	$	8,102	​	$	11,210	​
​	​	​	​	​	​	​	​	​	​	​

(A) The amount for 2018 includes the impact of reducing tax attributes due to legal entity consolidation which is completely offset with change in valuation allowance.

Schedule of Deferred Tax Assets and Liabilities

​

​	​	​	​	​	​	​
As of December 31		2020			2019
Deferred tax assets:	​	​	​	​	​	​
Inventories	​	$	1,858		$	2,254
Employee compensation and benefits	​		2,306			2,105
Accrued liabilities and reserves	​		3,649			3,211
Property, plant and equipment	​		943			552
Tax loss carryforwards	​		12,307			7,536
Tax credit carryforwards	​		22,949			15,448
Lease liability	​	​	4,199	​	​	4,768
Other	​		897			582
Gross deferred tax assets	​		49,108			36,456
Less: Valuation allowance	​		(10,237)			(8,586)
Deferred tax assets less valuation allowance	​		38,871			27,870
​	​	​	​	​	​	​
Deferred tax liabilities:	​	​	​	​	​	​
Property, plant and equipment	​		(2,400)			(2,071)
Intangible assets	​		(13,630)			(14,846)
Outside basis difference in foreign subsidiary	​	​	-	​	​	(13,750)
Right-of-use-assets	​		(4,076)			(4,695)
Other	​		(4,793)			(375)
Gross deferred tax liabilities	​		(24,899)			(35,737)
Net deferred tax assets (liabilities)	​	$	13,972		$	(7,867)

Schedule of classification of Net Deferred Tax Assets and Liability

​

​	​	​	​	​	​	​
Year ended December 31		2020			2019
Long-term deferred tax assets	​	$	26,907	​	$	4,663
Long-term deferred tax liabilities	​	​	(12,935)	​	​	(12,530)
Net deferred tax assets (liabilities)	​	$	13,972	​	$	(7,867)

Summary of Income Tax Contingencies

​

​	​	​	​	​	​	​	​	​	​
​		2020			2019			2018
Balance as of January 1	​	$	3,449	​	$	3,481	​	$	3,645
Tax positions related to the current year:	​	​	​	​	​	​	​	​	​
Additions	​	​	-	​	​	-	​	​	-
Tax positions related to the prior years:	​	​	​	​	​	​	​	​	​
Reductions	​	​	-	​	​	(32)	​	​	(165)
Expirations of statutes of limitation	​	​	-	​	​	-	​	​	1
Balance as of December 31	​	$	3,449	​	$	3,449	​	$	3,481

Schedule of Tax Years Open for Examination

​

​	​	​	​
Jurisdiction		Open Tax Years
U.S. Federal	​	​	2017-2020
Argentina	​	​	2015-2020
Brazil	​	​	2014-2020
China	​	​	2017-2020
France	​	​	2017-2020
Germany	​	​	2016-2020
Italy	​	​	2015-2020
Mexico	​	​	2015-2020
Netherlands	​	​	2017-2020
Spain	​	​	2016-2020
Sweden	​	​	2015-2020
United Kingdom	​	​	2019-2020

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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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