INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of income before income tax, domestic and foreign

The components of (loss) income before income taxes and non-controlling interests consist of the following for the years ended December 31:

(in thousands)	2022		2021
Domestic - Luxembourg	$	(47,432)	$	25,490
Foreign - U.S.	912		(9,536)
Foreign - non-U.S.	(1,047)		(669)
Total	$	(47,567)	$	15,285

Schedule of income tax provision (benefit)

The income tax provision consists of the following for the years ended December 31:

(in thousands)	2022		2021
Current:
Domestic - Luxembourg	$	(570)	$	—
Foreign - U.S. federal	547		(432)
Foreign - U.S. state	497		(308)
Foreign - non-U.S.	(4,642)		(3,197)
	$	(4,168)	$	(3,937)
Deferred:
Domestic - Luxembourg	$	—	$	(140)
Foreign - U.S. federal	(495)		519
Foreign - U.S. state	(400)		836
Foreign - non-U.S.	(203)		(510)
	$	(1,098)	$	705
Income tax provision	$	(5,266)	$	(3,232)

Summary of tax effects of the temporary differences

A summary of the tax effects of the temporary differences is as follows for the years ended December 31:

(in thousands)	2022		2021
Non-current deferred tax assets:
Net operating loss carryforwards	$	383,908	$	368,824
U.S. federal and state tax credits	282		194
Other non-U.S. deferred tax assets	12,775		13,326
Share-based compensation	1,317		1,220
Accrued expenses	1,369		962
Unrealized losses	10,112		10,397
Other	—		334
Depreciation	144		61
Non-current deferred tax liabilities:
Intangible assets	(9,082)		(8,290)
Other non-U.S. deferred tax liability	(420)		(523)
Other	(244)		—
	400,161		386,505
Valuation allowance	(404,141)		(389,147)
Non-current deferred tax liabilities, net	$	(3,980)	$	(2,642)

Schedule of the reconciliation of income tax provision to the Luxembourg statutory income tax rate

The following table reconciles the Luxembourg statutory tax rate to our effective tax rate for the years ended December 31:

	2022		2021
Statutory tax rate	24.94	%	24.94	%
Change in valuation allowance	(32.14)		130.03
State tax expense	(0.01)		(3.87)
Tax credits	—		0.36
Uncertain tax positions	(6.80)		11.82
Tax rate differences on foreign earnings	(1.21)		6.46
Tax Exempt Income	0.19		(145.91)
Provision to Return	3.45		—
Other	0.51		(2.70)
Effective tax rate	(11.07)	%	21.14	%

Summary of income tax contingencies

The following table summarizes changes in unrecognized tax benefits during the years ended December 31:

(in thousands)	2022		2021
Amount of unrecognized tax benefits as of the beginning of the year	$	9,023	$	8,541
Decreases as a result of tax positions taken in a prior period	(1,595)		(1,648)
Increases as a result of tax positions taken in a prior period	11		2,130
Increases as a result of tax positions taken in the current period	1,576		—
Amount of unrecognized tax benefits as of the end of the year	$	9,015	$	9,023