XML 59 R42.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Loss from Continuing Operations Before Benefit for Income Taxes | The following table summarizes income (loss) before benefit (provision) for income taxes and share of net income from joint venture.
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
United States | $ | (54,703) |  |  | $ | (64,394) |  |  | $ | (40,543) |
Foreign | 9,269 |  |  | 10,723 |  |  | 9,474 |
Loss before provision for income taxes and share of net income from joint venture | $ | (45,434) |  |  | $ | (53,671) |  |  | $ | (31,069) |
Income Tax Expense (Benefit) | The following table summarizes total income tax expense (benefit) recognized in each year.
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Current taxes: |  |  |  |  |
U.S. Federal | $ | (583) |  |  | $ | (580) |  |  | $ | (545) |
State | (378) |  |  | 126 |  |  | (625) |
Foreign | 4,292 |  |  | 3,901 |  |  | 4,576 |
Total current tax expense | 3,331 |  |  | 3,447 |  |  | 3,406 |
Deferred taxes: |  |  |  |  |
U.S. Federal | $ | (10,421) |  |  | $ | (9,057) |  |  | $ | (6,245) |
State | (2,262) |  |  | (1,833) |  |  | 70 |
Foreign | (1,138) |  |  | (721) |  |  | (986) |
U.S. federal, state and foreign valuation allowance | 12,900 |  |  | 10,449 |  |  | 5,376 |
Total deferred tax benefit | (921) |  |  | (1,162) |  |  | (1,785) |
Total income tax expense | $ | 2,410 |  |  | $ | 2,285 |  |  | $ | 1,621 |
Reconciliation of Income Taxes Based on U.S. Federal Statutory Rate | The following table presents a reconciliation of income taxes based on the U.S. federal statutory income tax rate.
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
U.S federal statutory income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Change in valuation allowance, exclusive of state | (23.4) | % |  | (16.1) | % |  | (17.5) | %
State taxes, net of federal taxes, exclusive of tax reform | 0.7 | % |  | (0.2) | % |  | 1.6 | %
Non-U.S. earnings taxed at different rates | 1.9 | % |  | 1.1 | % |  | 0.7 | %
Global intangible low-taxed income | (3.9) | % |  | (2.3) | % |  | (3.9) | %
Deferred true-up | (0.3) | % |  | (0.8) | % |  | (6.4) | %
Research and development tax credit | — | % |  | 0.2 | % |  | 0.3 | %
Interest on CARES Act refund | 1.6 | % |  | 1.1 | % |  | 1.8 | %
Return to provision | 0.4 | % |  | 0.1 | % |  | 1.3 | %
Taxes on unremitted foreign earnings | (3.8) | % |  | (2.4) | % |  | (3.9) | %
Intercompany lending | (0.5) | % |  | (1.3) | % |  | (2.7) | %
Warrant revaluation | — | % |  | (4.3) | % |  | 3.6 | %
Other adjustments, net | 1.0 | % |  | (0.4) | % |  | (1.1) | %
Effective tax rate | (5.3) | % |  | (4.3) | % |  | (5.2) | %
Principal Components of Deferred Tax Assets and Liabilities | The following table summarizes the principal components of the deferred tax assets and liabilities.
| As of December 31,
| 2024 |  | 2023
Deferred income tax liabilities: |  |  |
Tax in excess of book depreciation | $ | 11,917 |  |  | $ | 21,497 |
Intangible assets | 10,533 |  |  | 13,659 |
Operating leases | 9,005 |  |  | 9,970 |
Taxes on unremitted foreign earnings | 4,488 |  |  | 4,658 |
Other deferred tax liabilities | 682 |  |  | 725 |
Total deferred income tax liabilities | 36,625 |  |  | 50,509 |
Deferred income tax assets: |  |  |
Interest expense limitation | 18,571 |  |  | 14,920 |
Goodwill | 18,393 |  |  | 20,419 |
Inventories | 5,062 |  |  | 2,456 |
Section 174 research and development costs | 3,123 |  |  | 2,400 |
Pension and personnel accruals | 2,297 |  |  | 1,818 |
Operating leases | 11,154 |  |  | 12,238 |
Net operating loss carryforwards | 29,304 |  |  | 32,043 |
Interest rate swap | — |  |  | 251 |
Credit carryforwards | 3,099 |  |  | 3,235 |
Accruals and reserves | 341 |  |  | 904 |
Other deferred tax assets | 981 |  |  | 3,099 |
Deferred income tax assets before valuation allowance | 92,325 |  |  | 93,783 |
Valuation allowance on deferred tax assets | (59,340) |  |  | (47,528) |
Total deferred income tax assets | 32,985 |  |  | 46,255 |
Net deferred income tax liabilities | $ | 3,640 |  |  | $ | 4,254 |
Summary of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits, Excluding Interest and Penalties | The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties.
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Balance at beginning of year | $ | 121 |  |  | $ | 118 |  |  | $ | 125 |
Additions for tax positions of prior years | — |  |  | 3 |  |  | — |
Reductions for tax positions of prior years | (4) |  |  | — |  |  | (7) |
Balance at end of year | $ | 117 |  |  | $ | 121 |  |  | $ | 118 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration