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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Components of Income before Income Taxes

The components of income before income taxes and equity in earnings are as follows:

			Year Ended December 31,
			2020						2019						2018
			(in thousands)
Domestic			$	18,012					$	(21,311)					$	5,455
Foreign			(12,463)						(22,462)						(4,946)
Total income (loss) before income taxes and equity in earnings			$	5,549					$	(43,773)					$	509

Provision for Income Taxes

The provision for income taxes (before equity in earnings) consists of:

			Year Ended December 31,
			2020						2019						2018
			(in thousands)
Current:
Federal			$	8,522					$	906					$	775
State and local			2,540						884						351
Foreign			665						392						(323)
Deferred			(1,861)						(1,073)						2,086
Income tax provision			$	9,866					$	1,109					$	2,889

Significant Components of Net Deferred Income Tax Asset (Liability)

Significant components of the Company’s deferred income tax assets and (liabilities) are as follows:

			December 31,
			2020						2019
			(in thousands)
Deferred income tax assets:
Operating lease liabilities			$	27,502					$	29,126
Stock options			2,178						2,660
Inventory			2,438						2,351
Operating loss carryforwards			9,894						8,041
Accounts receivable allowances			1,461						777
Accrued compensation			1,839						846
Deferred compensation			1,310						1,123
Other			3,061						911
Total deferred income tax assets			$	49,683					$	45,835
Deferred income tax liabilities:
Operating lease right-of-use assets			$	(23,127)					$	(25,084)
Fixed assets			(1,920)						(2,431)
Intangibles			(28,447)						(27,782)
Total deferred income tax liabilities			(53,494)						(55,297)
Net deferred income tax liability			(3,811)						(9,462)
Valuation allowance			(6,903)						(4,223)
Net deferred income tax liability			$	(10,714)					$	(13,685)

Difference between Provision for Income Taxes and Amount Computed by Applying Federal Statutory Rates

The provision for income taxes (before equity in earnings) differs from the amounts computed by applying the applicable federal statutory rates as follows:

			Year Ended December 31,
			2020						2019						2018
Federal income taxes at the statutory rate			21.0		%				21.0		%				21.0		%
Increases (decreases):
State and local income taxes, net of Federal income tax benefit			38.9						(1.7)						97.4
Foreign rate differences			(43.9)						2.1						(76.1)
Impairment of goodwill (1)			65.5						(20.8)						98.6
Non-deductible expenses			16.4						(1.2)						129.9
Tax Act- revaluation of net deferred tax assets and other			—						—						16.8
Tax Act- transition tax			—						—						43.0
Uncertain tax positions			4.0						(0.3)						302.8
Research and development credit			(7.2)						1.4						(18.5)
Federal return to provision			6.8						0.4						(27.5)
Loss of Filament pre-acquisition attributes due to CARES Act			8.6						—						—
Equity-based compensation			19.4						—						—
Valuation Allowance			48.3						(3.1)						(34.2)
Other			—						(0.3)						14.4
Provision for income taxes			177.8		%				(2.5)		%				567.6		%

(1)In 2019, the rate for the impairment of goodwill was (20.8)% due to a pretax loss position.

Estimated Values of Gross Uncertain Tax Positions

The estimated values of the Company’s gross uncertain tax positions at December 31, 2020, 2019 and 2018 are liabilities of $1.6 million, $1.5 million and $2.0 million, respectively, and consist of the following:

			Year Ended December 31,
			2020						2019						2018
			(in thousands)
Balance at January 1			$	(1,508)					$	(1,975)					$	(161)
Additions based on tax positions related to the current year			(149)						(29)						(626)
Additions based on tax positions related to the prior year			—						—						(1,302)
Reductions for tax position of prior years			9						496						114
Balance at December 31			$	(1,648)					$	(1,508)					$	(1,975)

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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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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.

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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.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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