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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The components of (loss) income before income taxes and the provision (benefit) for income taxes consist of the following:
Year ended December 31, |  | 2023 |  | 2022 |  | 2021
(Loss) income before income taxes: |  |  |  |  |  |
Domestic |  | $ | (29,658) |  |  | $ | (11,944) |  |  | $ | 11,596 |
Foreign |  | 27,736 |  |  | 1,248 |  |  | 840 |
Total (loss) income before income taxes |  | $ | (1,922) |  |  | $ | (10,696) |  |  | $ | 12,436 |
Provision (benefit) for income taxes: |  |  |  |  |  |
Current: |  |  |  |  |  |
Federal |  | $ | 219 |  |  | $ | 435 |  |  | $ | — |
State and local |  | (101) |  |  | 747 |  |  | 294 |
Foreign |  | 7,181 |  |  | 7,288 |  |  | 9,248 |
Total current provision |  | $ | 7,299 |  |  | $ | 8,470 |  |  | $ | 9,542 |
Deferred: |  |  |  |  |  |
Federal |  | $ | (2,265) |  |  | $ | (3,282) |  |  | $ | 714 |
State and local |  | 2 |  |  | (25) |  |  | (55) |
Foreign |  | (1,775) |  |  | (1,803) |  |  | (1,171) |
Total deferred benefit |  | (4,038) |  |  | (5,110) |  |  | (512) |
Total income tax provision |  | $ | 3,261 |  |  | $ | 3,360 |  |  | $ | 9,030 |
Schedule of Effective Income Tax Rate Reconciliation | A summary of the differences between the statutory federal income tax rate of 21.0% and the consolidated provision for income taxes is shown below.
Year ended December 31, |  | 2023 |  | 2022 |  | 2021
Statutory U.S. federal income tax (benefit) provision |  | $ | (403) |  |  | $ | (2,246) |  |  | $ | 2,612 |
State income taxes, net of federal tax benefit |  | (136) |  |  | 495 |  |  | 942 |
Tax credits and incentives |  | (4,886) |  |  | (3,906) |  |  | (2,865) |
Foreign tax rate differential |  | 706 |  |  | 910 |  |  | 730 |
Impact of change in enacted tax law |  | 5 |  |  | 300 |  |  | 227 |
Change in valuation allowance |  | 1,817 |  |  | 5,248 |  |  | 5,070 |
U.S. tax on foreign earnings |  | 4,815 |  |  | 1,376 |  |  | (347) |
Tax impact of unconsolidated subsidiaries |  | — |  |  | 395 |  |  | 1,828 |
Unremitted earnings on foreign subsidiaries |  | — |  |  | (898) |  |  | 835 |
Non-deductible expenses |  | 1,338 |  |  | 657 |  |  | 740 |
Compensation and benefits |  | 306 |  |  | 774 |  |  | 358 |
Other |  | (301) |  |  | 255 |  |  | (1,100) |
Provision for income taxes |  | $ | 3,261 |  |  | $ | 3,360 |  |  | $ | 9,030 |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities were as follows:
As of December 31, |  | 2023 |  | 2022
Deferred tax assets: |  |  |  |
Inventories |  | $ | 1,678 |  |  | $ | 1,479 |
Employee compensation and benefits |  | 2,324 |  |  | 2,078 |
Accrued liabilities and reserves |  | 6,466 |  |  | 5,862 |
Property, plant and equipment |  | 3,290 |  |  | 2,794 |
Tax loss carryforwards |  | 18,129 |  |  | 16,997 |
Tax credit carryforwards |  | 22,191 |  |  | 20,802 |
Capitalized research and development |  | 4,345 |  |  | 4,785 |
Lease liability |  | 2,351 |  |  | 2,817 |
Other |  | 1,040 |  |  | 1,213 |
Gross deferred tax assets |  | 61,814 |  |  | 58,827 |
Less: Valuation allowance |  | (21,082) |  |  | (18,496) |
Deferred tax assets less valuation allowance |  | 40,732 |  |  | 40,331 |
Deferred tax liabilities: |  |  |  |
Property, plant and equipment |  | (1,271) |  |  | (2,038) |
Intangible assets |  | (8,942) |  |  | (10,056) |
Right-of-use-assets |  | (2,059) |  |  | (2,595) |
Other |  | (5,292) |  |  | (4,991) |
Gross deferred tax liabilities |  | (17,564) |  |  | (19,680) |
Net deferred tax assets |  | $ | 23,168 |  |  | $ | 20,651 |
Schedule of Classification of Net Deferred Tax Assets and Liability | The balance sheet classification of our net deferred tax asset is shown below:
Year ended December 31, |  | 2023 |  | 2022
Long-term deferred tax assets |  | $ | 30,392 |  |  | $ | 29,149 |
Long-term deferred tax liabilities |  | (7,224) |  |  | (8,498) |
Net deferred tax assets |  | $ | 23,168 |  |  | $ | 20,651 |
Schedule of Income Tax Contingencies | The following is a reconciliation of the Company’s total gross unrecognized tax benefits:
| 2023 |  | 2022 |  | 2021
Balance as of January 1 | $ | 2,545 |  |  | $ | 2,891 |  |  | $ | 3,449 |
Tax positions related to the current year: |  |  |  |  |
Additions | — |  |  | — |  |  | — |
Tax positions related to the prior years: |  |  |  |  |
Reductions | — |  |  | — |  |  | — |
Expirations of statutes of limitation | — |  |  | (346) |  |  | (558) |
Balance as of December 31 | $ | 2,545 |  |  | $ | 2,545 |  |  | $ | 2,891 |
Schedule of Tax Years Open for Examination | The following table summarizes the open tax years for each jurisdiction:
Jurisdiction |  | Open Tax Years
U.S. Federal |  | 2017-2023
Argentina |  | 2018-2023
Brazil |  | 2015-2023
China |  | 2019-2023
France |  | 2020-2023
Germany |  | 2019-2023
Italy |  | 2018-2023
Mauritius |  | 2017-2023
Mexico |  | 2018-2023
Netherlands |  | 2019-2023
Sweden |  | 2018-2023
United Kingdom |  | 2022-2023

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