Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Summary of Income Tax Benefit (Provision)

The following summarizes our income tax provision (in thousands):

	Year Ended December 31,
	2020		2019
Current:
U.S. federal	$	(1,299)	$	(2,918)
State and local		25		2
Foreign		(250)		(250)
Total current		(1,524)		(3,166)
Deferred:
U.S. federal		(11,334)		(2,990)
State and local		(28)		3
Total deferred		(11,362)		(2,987)
Total income tax provision	$	(12,886)	$	(6,153)

Summary of Uncertain Tax Positions Included in Income Tax Provision

Our current income tax provision includes an increase to our liability for UTPs of (in thousands):

	Year Ended December 31,
	2020		2019
Unrecognized tax benefits	$	(1,118)	$	(2,467)
Interest expense		(1,299)		(1,570)
Total	$	(2,417)	$	(4,037)

Summary of Additional Income Tax Disclosures

In addition to the income tax provision presented above, we also recorded the following item (in thousands):

	Year Ended December 31,
	2020		2019
Deferred tax benefit for adjustments in
other comprehensive loss (see Note 3)	$	756	$	412

Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes differs from the amount computed by applying the statutory U.S. federal income tax rate on the loss before income taxes and equity in net income of affiliates because of the effect of the following items (dollars in thousands):

	Year Ended December 31,
	2020		2019
U.S. Statutory Federal Corporate Income Tax Rate		21%		21%
Tax benefit	$	2,255	$	1,154
Permanent adjustments which change statutory amounts:
State and local income taxes, net of federal income tax		(77)		107
Equity in net income of affiliates		(17,185)		(5,055)
Federal provision for unrecognized tax benefits		(1,138)		(1,226)
Nondeductible expenses		(2,380)		(695)
Change in valuation allowance		69		(118)
Income tax credits		5,820		—
Foreign income taxes		(250)		(250)
Other, net		—		(70)
Total income tax provision	$	(12,886)	$	(6,153)

Unrecognized Tax Benefits

The following table summarizes the activity related to our unrecognized tax benefits (in thousands):

	Year Ended December 31,
	2020		2019
Balance at January 1	$	43,037	$	43,055
Decreases as a result of statute expirations		—		(18)
Balance at December 31	$	43,037	$	43,037

Schedule of Net Deferred Tax Assets

The significant components of the net deferred income tax assets are (in thousands):

	December 31,
	2020		2019
Deferred tax assets:
Net operating loss carryforwards	$	23,020	$	34,294
Foreign tax credit carryforwards		126,007		126,007
Compensation and benefits		701		961
Indemnification liabilities		98		66
Other, net		279		305
Federal benefit of uncertain tax positions		701		428
Pension costs		4,119		3,375
Investments in and advances to affiliates		828		992
Total deferred tax assets before valuation allowance		155,753		166,428
Less valuation allowance		(128,414)		(128,483)
Deferred tax assets	$	27,339	$	37,945