Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

(Loss) Earnings Before Income Taxes

(Loss) earnings before income taxes consist of the following:

	Years Ended December 31,
	2021			2020			2019
U.S.	$	(128,699	)	$	(7,101	)	$	15,103
Non-U.S.		67,819			52,580			35,163
Total	$	(60,880	)	$	45,479		$	50,266

Significant Components of Income Tax Provision/(Benefit)

Significant components of income tax provision/(benefit) are as follows:

	Years Ended December 31,
	2021			2020			2019
Current:
U.S.	$	36		$	211		$	(391	)
Non-U.S.		11,932			11,275			10,666
Total Current		11,968			11,486			10,275
Deferred:
U.S.		(35,979	)		(2,815	)		558
Non-U.S.		4,997			2,122			3,287
Total Deferred		(30,982	)		(693	)		3,845
Total provision for income taxes	$	(19,014	)	$	10,793		$	14,120

Significant Components of Deferred Tax Assets and Liabilities

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

	As of December 31,
	2021			2020
Post-retirement benefits	$	1,226		$	1,259
Inventory reserves		69			477
Loss carry-forwards		5,070			5,128
Credit carry-forwards		19,665			17,401
Accrued expenses		4,917			5,693
Research expenditures		19,226			18,893
Operating lease liabilities		5,643			6,012
Stock compensation		1,970			1,969
Foreign exchange loss		2,052			2,166
Other		769			872
Gross deferred tax assets		60,607			59,870
Depreciation and amortization		13,386			13,004
Pensions		10,958			12,557
Operating lease assets		5,307			5,703
Subsidiaries' unremitted earnings		1,947			3,046
Gross deferred tax liabilities		31,598			34,310
Net deferred tax assets		29,009			25,560
Deferred tax asset valuation allowance		(9,489	)		(8,320	)
Total net deferred tax assets	$	19,520		$	17,240

The deferred tax assets and deferred tax liabilities, classified as non-current, are as follows below:

	As of December 31,
	2021			2020
Non-current deferred tax assets	$	25,414		$	24,250
Non-current deferred tax liabilities	$	(5,894	)	$	(7,010	)
Total net deferred tax assets	$	19,520		$	17,240

Reconciliation of Effective Income Taxes Rate

The following table reconciles taxes at the U.S. federal statutory rate to the effective income tax rate:

	Years Ended December 31,
	2021	2020	2019
Taxes at the U.S. statutory rate	21.0%	21.0%	21.0%
State income taxes, net of federal income tax benefit	4.3%	(0.1)%	0.4%
Non-U.S. earnings taxed at rates different than the    U.S. statutory rate	3.1%	(0.9)%	1.3%
Foreign source earnings, net of associated foreign    tax credits	0.1%	(0.7)%	0.3%
Benefit of tax credits	0.8%	(0.7)%	(1.5)%
Non-deductible expenses	(1.6)%	(0.5)%	4.1%
Stock compensation - excess tax benefits	0.7%	(0.1)%	(1.1)%
Adjustment to valuation allowances	(3.1)%	1.6%	(0.4)%
Other changes in tax laws and rates	—	—	0.1%
Change in unrecognized tax benefits	0.4%	(0.7)%	3.3%
Impacts of unremitted foreign earnings	(4.5)%	5.2%	1.3%
Release of disproportionate tax effects of OCI	8.8%	—	—
Other	1.2%	(0.4)%	(0.7)%
Effective income tax rate	31.2%	23.7%	28.1%

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending unrecognized tax benefits is provided below:

	As of December 31,
	2021			2020
Balance at January 1	$	3,128		$	5,016
Increase related to current year tax positions		70			880
Decrease related to prior year tax positions		(237	)		(1,156	)
Decrease related to lapse in statute of limitation		(125	)		—
Decrease related to settlements with taxing authorities		(640	)		(1,612	)
Balance at December 31	$	2,196		$	3,128