PROVISION FOR INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Unrecognized Tax Benefits Roll Forward

Below is a tabular rollforward of the beginning and ending aggregate unrecognized tax benefits:

	Year ended December 31,
(in thousands)	2019			2018
Balance at beginning of period	$	1,500		$	1,204
Increases based on tax positions taken in the current year	29			588
Increases based on tax positions taken in prior years	27			51
Decreases based on tax positions taken in prior years	(223		)	—
Decreases due to settlements with tax authorities	—			(140		)
Decreases due to lapse of applicable statute of limitation	(104		)	(203		)
Balance at end of period	$	1,229		$	1,500

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities are as follows:

	Year ended December 31,
(in thousands)	2019			2018
Deferred tax assets:
Pension liability	$	64,046		$	66,652
Accrued warranty	3,121			2,943
Accrued vacation pay	99			98
Accrued liabilities for self-insurance (including postretirement health care benefits)	4,815			4,653
Accrued liabilities for executive and employee compensation	5,844			4,473
Long-term contracts	4,879			27,623
Accrued legal fees	503			1,058
Inventory reserve	1,791			1,595
Property, plant and equipment	614			1,200
Net operating loss carryforward	386,949			314,274
State net operating loss carryforward	21,190			21,017
Capital loss carryforward	—			3,744
Interest disallowance carryforward	37,221			21,550
Foreign tax credit carryforward	2,535			2,535
Other tax credits	3,243			6,642
Other	9,216			10,755
Investments in joint ventures and affiliated companies	589			—
Total deferred tax assets	546,655			490,812
Valuation allowance for deferred tax assets	(539,791		)	(483,967		)
Total deferred tax assets, net	6,864			6,845
Deferred tax liabilities:
Investments in joint ventures and affiliated companies	—			30
Intangibles	8,785			9,595
Total deferred tax liabilities	8,785			9,625
Net deferred tax liabilities	$	(1,921	)	$	(2,780	)

Summary of Valuation Allowance

The following is an analysis of our valuation allowance for deferred tax assets:

	Year ended December 31,
(in thousands)	2019			2018
Balance at beginning of period	$	(483,967	)	$	(108,105	)
Charges to costs and expenses	(56,254		)	(375,408		)
Charges to other accounts	430			(454		)
Balance at end of period	$	(539,791	)	$	(483,967	)

Schedule of Income before Income Tax, Domestic and Foreign

Loss before the provision for incomes taxes is as follows:

	Year ended December 31,
(in thousands)	2019			2018
United States	$	(64,610	)	$	(166,269	)
Other than the United States	(59,837		)	(389,532		)
Loss before provision for income taxes	$	(124,447	)	$	(555,801	)

The provision for income taxes consisted of:

	Year ended December 31,
(in thousands)	2019			2018
Current:
United States - federal	$	534		$	1,817
United States - state and local	454			(276		)
Other than the United States	3,705			3,339
Total current	4,693			4,880
Deferred:
United States - federal	(257		)	84,203
United States - state and local	—			10,020
Other than the United States	850			3,121
Total deferred provision	593			97,344
Provision for income taxes	$	5,286		$	102,224

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the United States statutory federal tax rate to the consolidated effective tax rate:

	Year ended December 31,
(in thousands)	2019		2018
United States federal statutory rate	21.0	%	21.0	%
State and local income taxes	(2.6	)	0.5
Foreign rate differential	(1.6	)	(0.3	)
Deferred taxes - change in tax rate	(7.9	)	0.4
Non-deductible (non-taxable) items	(7.7	)	(0.6	)
Tax credits	(0.1	)	(0.7	)
Valuation allowances	(45.2	)	(67.5	)
Goodwill impairment	—		(1.4	)
Luxembourg impairment of investments	52.9		32.3
Accrual adjustments	(0.1	)	—
Disallowed interest deductions	(4.5	)	—
Return to provision and prior year true-up	(7.9	)	—
Other	(0.5	)	(2.1	)
Effective tax rate	(4.2	)%	(18.4	)%