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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Provisions for Income Taxes | The provisions for income taxes are:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 8,038 |  |  | $ | 7,439 |  |  | $ | 6,684 |
State |  |  | 1,211 |  |  |  | 2,173 |  |  |  | 2,149 |
Foreign |  |  | 3,238 |  |  |  | 3,943 |  |  |  | 1,106 |
|  |  | 12,487 |  |  |  | 13,555 |  |  |  | 9,939 |
Deferred: |  |  | — |  |  |  |  |  |  |
Federal |  |  | (6,263 | ) |  |  | (2,763 | ) |  |  | (2,369 | )
State |  |  | (1,029 | ) |  |  | (1,243 | ) |  |  | (1,039 | )
Foreign |  |  | (2,417 | ) |  |  | (988 | ) |  |  | 1,635 |
|  |  | (9,709 | ) |  |  | (4,994 | ) |  |  | (1,773 | )
Total |  | $ | 2,778 |  |  | $ | 8,561 |  |  | $ | 8,166 |
Total Income Tax Expense Applying U.S. Federal Income Tax Rate | Total income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 21.0% to income before income tax expense, as a result of the following:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Computed tax expense at statutory federal rates |  | $ | 2,162 |  |  | $ | 7,553 |  |  | $ | 5,619 |
Increase (decrease) in taxes resulting from: |  |  |  |  |  |  |  |  |
State taxes, net of federal income tax benefit |  |  | 756 |  |  |  | 1,493 |  |  |  | 1,485 |
Unrecognized tax benefits |  |  | (585 | ) |  |  | (1,441 | ) |  |  | (1,783 | )
Bargain purchase gain on business acquisition |  |  | — |  |  |  | — |  |  |  | (35 | )
Income tax credits |  |  | (720 | ) |  |  | (1,342 | ) |  |  | (1,206 | )
Foreign tax rate differential |  |  | 1,025 |  |  |  | 785 |  |  |  | 262 |
Stock based compensation |  |  | 219 |  |  |  | 55 |  |  |  | 208 |
Global intangible low-taxed income |  |  | 685 |  |  |  | — |  |  |  | 162 |
Change in valuation allowance |  |  | 1,376 |  |  |  | 379 |  |  |  | 3,304 |
Return to provision |  |  | 158 |  |  |  | (693 | ) |  |  | (651 | )
Nondeductible expenses / (tax deductions) |  |  | (327 | ) |  |  | 989 |  |  |  | (103 | )
Gross receipts taxes |  |  | 425 |  |  |  | 602 |  |  |  | 567 |
IP migration |  |  | (2,455 | ) |  |  | — |  |  |  | — |
Other |  |  | 59 |  |  |  | 181 |  |  |  | 337 |
Total |  | $ | 2,778 |  |  | $ | 8,561 |  |  | $ | 8,166 |
Components of Income before Provision | Income before provision for income taxes and losses on equity investments are:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Domestic |  | $ | 6,672 |  |  | $ | 28,739 |  |  | $ | 21,212 |
International |  |  | 3,625 |  |  |  | 7,226 |  |  |  | 5,929 |
Total |  | $ | 10,297 |  |  | $ | 35,965 |  |  | $ | 27,141 |
Deferred Tax Assets and Liability | Temporary differences between the consolidated financial statements’ carrying amounts and tax bases of assets and liabilities that give rise to significant portions of the net deferred tax liability at December 31, 2023 and 2022 relate to the following:
|  | 2023 |  |  | 2022 |
Deferred tax assets |  |  |  |  |  |
Inventories |  | $ | 2,764 |  |  | $ | 2,401 |
Program accrual |  |  | 9,742 |  |  |  | 8,277 |
Vacation pay accrual |  |  | 864 |  |  |  | 772 |
Accrued bonuses |  |  | 37 |  |  |  | 1,707 |
Bad debt expense |  |  | 2,143 |  |  |  | 1,450 |
Stock compensation |  |  | 1,536 |  |  |  | 1,414 |
Domestic NOL carryforward |  |  | 543 |  |  |  | 609 |
Foreign NOL carryforward |  |  | 6,322 |  |  |  | 2,554 |
Tax credits |  |  | 1,582 |  |  |  | 842 |
Lease liability |  |  | 5,812 |  |  |  | 6,209 |
Accrued expenses |  |  | 696 |  |  |  | 570 |
Unrealized foreign exchange loss |  |  | (1,182 | ) |  |  | 3,220 |
Capitalized R&D costs |  |  | 7,140 |  |  |  | 4,600 |
Deferred tax assets |  |  | 37,999 |  |  |  | 34,625 |
Less valuation allowance |  |  | (3,317 | ) |  |  | (3,853 | )
Deferred tax assets, net |  | $ | 34,682 |  |  | $ | 30,772 |
Deferred tax liabilities |  |  |  |  |  |
Plant and equipment, principally due to differences in depreciation and capitalized interest |  | $ | 32,336 |  |  | $ | 36,158 |
Lease assets |  |  | 5,617 |  |  |  | 6,079 |
Prepaid expenses |  |  | 1,406 |  |  |  | 1,685 |
Deferred revenue |  |  | — |  |  |  | 777 |
Other |  |  | 366 |  |  |  | 529 |
Deferred tax liabilities |  | $ | 39,725 |  |  | $ | 45,228 |
Total net deferred tax liabilities |  | $ | 5,043 |  |  | $ | 14,456 |
Gross Unrecognized Tax Benefits |
|  | 2023 |  |  | 2022 |
Balance at beginning of year |  | $ | 2,006 |  |  | $ | 2,426 |
Additions for tax positions related to the current year |  |  | 230 |  |  |  | 225 |
Additions for tax positions related to the prior years |  |  | 302 |  |  |  | 5 |
Reduction for tax positions related to the prior years |  |  | (799 | ) |  |  | (745 | )
Effect of exchange rate changes |  |  | 57 |  |  |  | 95 |
Balance at end of year |  | $ | 1,796 |  |  | $ | 2,006 |

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