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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Components of Income before Income Taxes

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

			Year Ended December 31,
			2022						2021						2020
			(in thousands)
Domestic			$	20,796					$	61,045					$	18,012
Foreign			(11,767)						(24,665)						(12,463)
Total income before income taxes and equity in earnings			$	9,029					$	36,380					$	5,549

Provision for Income Taxes

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

			Year Ended December 31,
			2022						2021						2020
			(in thousands)
Current:
Federal			$	6,890					$	10,361					$	8,522
State and local			1,888						3,558						2,540
Foreign			775						823						665
Deferred			(3,825)						1,799						(1,861)
Income tax provision			$	5,728					$	16,541					$	9,866

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,
			2022						2021
			(in thousands)
Deferred income tax assets:
Operating lease liabilities			$	22,814					$	26,158
Stock options			1,679						1,825
Inventory			3,134						2,612
Operating loss carryforwards			17,450						15,684
Accounts receivable allowances			1,906						1,696
Accrued compensation			1,137						1,310
Deferred compensation			721						1,167
Environmental remediation accrual			1,432						127
Capitalized research and experimental expenditures			2,525						—
Other			755						1,409
Total deferred income tax assets			$	53,553					$	51,988
Deferred income tax liabilities:
Operating lease right-of-use assets			$	(18,872)					$	(21,857)
Fixed assets			(1,735)						(1,784)
Intangibles			(26,230)						(26,117)
Total deferred income tax liabilities			(46,837)						(49,758)
Net deferred income tax asset			6,716						2,230
Valuation allowance			(16,323)						(15,072)
Net deferred income tax liability			$	(9,607)					$	(12,842)

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

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

			Year Ended December 31,
			2022						2021						2020
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			13.9						8.8						38.9
Foreign rate differences			6.9						(9.2)						(49.8)
Foreign withholding tax			6.1						1.2						5.9
Impairment of goodwill			—						—						65.5
Non-deductible expenses			7.1						3.3						16.4
Uncertain tax positions			1.2						0.1						4.0
Research and development credit			(5.4)						(1.1)						(7.2)
Federal return to provision			(3.4)						(0.4)						6.8
Loss of Filament pre-acquisition attributes due to CARES Act			—						—						8.6
Equity-based compensation			0.1						(0.6)						19.4
Valuation Allowance			15.9						22.4						48.3
Provision for income taxes			63.4		%				45.5		%				177.8		%

Estimated Values of Gross Uncertain Tax Positions

The estimated values of the Company’s gross uncertain tax positions at December 31, 2022, 2021 and 2020 consist of the following:

			Year Ended December 31,
			2022						2021						2020
			(in thousands)
Balance at January 1			$	(1,071)					$	(1,648)					$	(1,508)
Additions based on tax positions related to the current year			(79)						(49)						(149)
Reductions for tax position of prior years			20						626						9
Balance at December 31			$	(1,130)					$	(1,071)					$	(1,648)

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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 of income before income tax between domestic and foreign jurisdictions.

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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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