Income Tax Expense (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Income before Income Tax, Domestic and Foreign

The components of income (loss) before income tax are as follows (in thousands):

	For the Years Ended December 31,
	2020			2019		2018
United States	$	(45,167	)	$	61,374	$	61,680
Other countries		(46,010	)		20,620		43,614
Income (loss) before income tax	$	(91,177	)	$	81,994	$	105,294

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense are as follows (in thousands):

	For the Years Ended December 31,
	2020			2019			2018
Current:
United States	$	5,181		$	8,786		$	13,198
Other countries		11,926			13,267			10,132
State and provincial		618			(28	)		1,548
Total current		17,725			22,025			24,878
Deferred:
United States		(69	)		(57,250	)		(1,340	)
Other countries		(11,144	)		23,558			1,909
State and provincial		(616	)		(623	)		—
Total deferred		(11,829	)		(34,315	)		569
Income tax expense (benefit)	$	5,896		$	(12,290	)	$	25,447

Schedule of Effective Income Tax Rate Reconciliation

The differences in income tax expense (benefit) computed using the Netherlands statutory income tax rate of 25% and our income tax expense (benefit) as reported in the accompanying consolidated statements of operations are as follows (in thousands):

	For the Years Ended December 31,
	2020			2019			2018
Tax at the Netherlands income tax rate	$	(23,005	)	$	22,895		$	26,189
International earnings taxed at rates other than the Netherlands statutory rate		14,986			(1,343	)		(14,997	)
Non-deductible expenses		2,977			3,516			4,452
Change in valuation allowance		23			(3,491	)		1,513
State and provincial taxes		(227	)		(825	)		1,566
Tax credits		(5,975	)		(3,893	)		(3,939	)
Benefit from corporate restructuring		—			(59,336	)		—
Unremitted earnings of subsidiaries		418			26,126			—
Adjustments of prior year taxes		545			(1,684	)		2,350
Adjustments of income tax reserves		(1,965	)		1,084			(1,613	)
Non-deductible goodwill impairment		15,547			—			—
Foreign exchange		226			2,014			5,936
Accrued withholding taxes		2,092			2,603			2,911
Other		254			44			1,079
Income tax expense (benefit)	$	5,896		$	(12,290	)	$	25,447

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities result from various temporary differences between the financial statement carrying amount and their tax basis. Deferred tax assets and liabilities are summarized as follows (in thousands):

	December 31,
	2020			2019
Deferred tax assets:
Net operating loss carry-forwards	$	13,892		$	7,209
Tax credit carry-forwards		2,996			1,888
Accruals for compensation		8,587			8,240
Accruals for inventory capitalization		3,445			1,788
Unrealized benefit from corporate restructuring		53,501			56,985
Intangibles		830			—
Unrealized benefit plan loss		2,366			3,740
Unrealized foreign exchange		2,852			3,842
Unearned revenue		741			1,849
Other		1,989			1,839
Total deferred tax assets		91,199			87,380
Valuation allowance		(6,264	)		(6,241	)
Net deferred tax assets		84,935			81,139
Deferred tax liabilities:
Intangibles		—			(6,263	)
Property, plant and equipment		(4,998	)		(3,546	)
Accrued interest		—			(1,679	)
Accrued withholding taxes		(26,916	)		(26,718	)
Unrealized foreign exchange		(610	)		(2,653	)
Other		(221	)		(306	)
Total deferred tax liabilities		(32,745	)		(41,165	)
Net deferred income taxes	$	52,190		$	39,974

	December 31,
	2020			2019
Long-term deferred tax assets	$	72,775		$	67,312
Long-term deferred tax liabilities		(20,585	)		(27,338	)
Total deferred tax assets (liabilities)	$	52,190		$	39,974

Summary of Income Tax Contingencies

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	For the Years Ended December 31,
	2020			2019			2018
Unrecognized tax benefits at January 1,	$	7,301		$	7,471		$	10,124
Tax positions, current period		1,650			495			543
Tax positions, prior period		(491	)		(361	)		(304	)
Settlements with taxing authorities		(2,159	)		(18	)		(2,207	)
Lapse of applicable statute of limitations		(46	)		(286	)		(685	)
Unrecognized tax benefits at December 31,	$	6,255		$	7,301		$	7,471