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Income Taxes (Tables)

12 Months Ended

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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