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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Components of Income Tax Benefit

The components of income tax benefit are as follows:

						Year Ended December 31,
In thousands						2024						2023
Current
Federal						$	—					$	(10)
State and local						428						264
Foreign						1,214						871
Total current						$	1,642					$	1,125
Deferred
Federal						$	(7,729)					$	(1,340)
State and local						(1,446)						(216)
Foreign						(104)						82
Total deferred						$	(9,279)					$	(1,474)
Total income tax benefit						$	(7,637)					$	(349)

Components of Income (Loss) Before Income Taxes

The U.S. and foreign components of loss before income taxes were as follows:

						Year Ended December 31,
In thousands						2024						2023
United States						$	(43,860)					$	(7,546)
Foreign						5,926						5,627
Total loss before income taxes						$	(37,934)					$	(1,919)

Differences Between Total Expense (Benefit)

The differences between total income tax benefit and the amount computed by applying the statutory federal income tax rate of 21% to income (loss) before income taxes were as follows:

						Year Ended December 31,
In thousands						2024						2023
Computed expected income tax benefit						$	(7,966)					$	(403)
Net effect of state income taxes						(1,885)						(206)
Foreign subsidiary dividend inclusions						666						507
Foreign tax rate differential						42						(257)
Change in valuation allowance						991						(562)
Return to Provision						599						706
Change in Rate						(125)						165
Credits						(346)						(543)
Adjustments to State Attributes						565						(137)
Other Adjustments, net						(178)						381
Income tax benefit						$	(7,637)					$	(349)

Significant Portions of the Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities were as follows:

						Year Ended December 31,
In thousands						2024						2023
Deferred tax assets
Deferred compensation and retirement plan						$	—					$	9,667
Accrued expenses not deductible until paid						173						1,177
Lease liability						6,201						6,979
Investment in foreign subsidiaries, outside basis difference						1,930						1,604
Interest Expense limitations						1,167						971
Other, net						1,979						1,320
Foreign net operating loss carryforwards						1,325						1,382
State net operating loss carryforwards						7,709						5,309
Federal net operating loss carryforwards						9,585						—
Foreign tax credit carryforwards						3,726						3,730
General Business Credit Carryovers						591						538
Total gross deferred tax assets						34,386						32,677
Less valuation allowances						(8,082)						(7,091)
Net deferred tax assets						$	26,304					$	25,586

Deferred tax liabilities
Property, plant and equipment						$	(1,143)					$	(1,485)
Deferred compensation and retirement plan						(3,394)						—
Right-of-use asset						(5,624)						(6,144)
Other, net						(966)						(689)
Total gross deferred tax liabilities						(11,127)						(8,318)
Net deferred tax assets						$	15,177					$	17,268

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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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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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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