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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Loss from Continuing Operations Before Benefit for Income Taxes

Loss from continuing operations before benefit for income taxes was as follows:

		Year ended December 31,
		2017				2016				2015
Income / (Loss) from continuing operations before expense / (benefit) for income taxes and share of net income from joint venture
United States			(71,603	)			(39,160	)			(50,831	)
Foreign			12,730				8,294				1,613
Total			(58,873	)			(30,866	)			(49,218	)

Income Tax Benefit

Total income tax benefit was as follows:

		Year ended December 31,
		2017				2016				2015
Tax Expense:
Current:
U.S. Federal			(47,916	)			(2,595	)			(2,228	)
State			(12,226	)			679				189
Foreign			4,310				2,004				1,340
Total current expense			(55,832	)			88				(699	)
Deferred:
U.S. Federal			(25,017	)			(9,679	)			(16,007	)
State			3,009				(6,406	)			(1,913	)
Deferred tax valuation allowance			710				1,882				—
Foreign			(1,896	)			(1,323	)			(1,223	)
Total deferred expense (benefit)			(23,194	)			(15,526	)			(19,143	)
Total expense (benefit)			(79,026	)			(15,438	)			(19,842	)

Reconciliation of Income Taxes Based on U.S. Federal Statutory Rate

A reconciliation of income taxes based on the U.S. federal statutory rate is summarized as follows:

		Year ended December 31,
		2017				2016				2015
Rate Rec: Percentages
Income taxes at the federal statutory rate			35.0	%			34.0	%			34.0	%
Change in valuation allowance			-1.2	%			-6.1	%			0.0	%
Foreign tax credits, exclusive of tax reform			-13.8	%			8.2	%			2.7	%
State taxes, net of federal taxes, exclusive of tax reform			9.1	%			5.7	%			3.6	%
Non-U.S. earnings taxed at different rates			1.7	%			4.8	%			3.2	%
Non-deductible mergers and acquisitions costs			0.0	%			0.0	%			-2.6	%
R&D Tax credit			0.3	%			0.9	%			1.3	%
Change in uncertain tax positions			-0.4	%			3.2	%			0.0	%
Impact of Tax Reform
Toll Charge, net of foreign tax credit			-11.5	%			0.0	%			0.0	%
Remeasurement of deferred taxes pursuant to tax reform			65.6	%			0.0	%			0.0	%
Tax Reform impact on divestiture of business segment			33.9	%			0.0	%			0.0	%
Section 199/Domestic Production Deduction			0.8	%			0.0	%			0.0	%
Divestiture of Business Segment, exclusive of tax reform			13.6	%			0.0	%			0.0	%
Prior period revisions			0.5	%			4.2	%			1.8	%
Foreign JV Net Income			0.0	%			-4.1	%			-2.3	%
Other adjustments, net			0.7	%			-0.8	%			-1.3	%
			134.2	%			50.0	%			40.3	%

Principal Components of Deferred Tax Assets and Liabilities

The principal components of the deferred tax assets and liabilities are as follows:

Summary of Deferred’s
Deferred income tax liabilities:
Tax in excess of book depreciation			34,143				40,389				39,447
Goodwill			58				23				—
Intangible assets			50,688				86,492				91,947
Other deferred tax liabilities			389				720				(0	)
Total deferred income tax liabilities			85,278				127,624				131,394
Deferred income tax assets:
Goodwill			2,067				1,165				1,697
Inventories			2,248				740				4,370
Pension/Personnel accruals			1,596				1,395				2,669
Net operating loss carry forwards			6,950				10,297				6,289
Foreign tax credits			—				5,759				3,242
Guarantee claim deduction			—				414				1,141
Credit carry forwards			3,427				4,581				4,958
Accruals and reserves			2,015				1,151				0
Other deferred tax assets			3,019				10,193				2,084
Deferred income tax assets before Valuation Allowance			21,322				35,695				26,451
Valuation allowance on deferred tax assets			(7,608	)			(4,090	)			(2,376	)
Total deferred income tax assets			13,714				31,605				24,075
Net deferred income tax liabilities (1)			71,564				96,019				107,319

(1) In accordance with the U.S. Tax Cuts and Jobs Act of 2017, our ending domestic deferred balances have been remeasured to 21% for the year ended December 31, 2017.

Summary of Activity in Total Valuation Allowances

The following table summarizes our total valuation allowances:

		Balance at Beginning of Year				Additions				Recoveries				Reprice				Balance at End of Year
Year ended December 31, 2017		$	4,090			$	3,518			$	—			$	—			$	7,608
Year ended December 31, 2016		$	2,376			$	1,882			$	(168	)		$	—			$	4,090
Year ended December 31, 2015		$	—			$	2,376			$	—			$	—			$	2,376

Summary of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits, Excluding Interest and Penalties

A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, is as follows:

		Year Ended December 31,
		2017				2016				2015
Beginning balance		$	4,741			$	5,724			$	3,834
Additions for tax positions of prior years			1,404				179				2,516
Reductions for tax positions of prior years			(490	)			(1,162	)			(626	)
Ending balance		$	5,655			$	4,741			$	5,724

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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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