Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The table below sets forth our income before taxes for the twelve months ended December 31:

Income before income taxes	2022		2021		2020
U.S.	$	221,288	$	122,127	$	45,526
Foreign		174,652		192,968		74,815
Total	$	395,940	$	315,095	$	120,341

The table below sets forth the components of our income tax provision (benefit) for the twelve months ended December 31:

	2022			2021			2020
Current tax provision
Federal	$	46,368		$	15,691		$	631
Foreign		37,598			25,489			17,115
State		56			(17	)		56
		84,022			41,163			17,802
Deferred tax provision (benefit)
Federal		(6,486	)		(1,116	)		6,411
Foreign		(25,537	)		31,222			(6,210	)
State		(8	)		-			65
		(32,031	)		30,106			266
Liability for unrecognized tax benefits		4,694			7,538			3,044
Total income tax provision	$	56,685		$	78,807		$	21,112

Schedule of Effective Income Tax Rate Reconciliation

The table below sets forth a reconciliation between the effective tax rate and the statutory tax rates for the twelve months ended December 31:

	2022						2021						2020
				Percent						Percent						Percent
				of pretax						of pretax						of pretax
	Amount			earnings*			Amount			earnings*			Amount			earnings*
Federal tax	$	83,147			21.0		$	66,170			21.0		$	25,272			21.0
State income taxes, net of federal tax    provision		33			-			(474	)		(0.2	)		(378	)		(0.3	)
Foreign income taxed at different tax rates		(6,527	)		(1.6	)		(2,018	)		(0.6	)		81			0.1
U.S. tax impact of foreign operations		(7,369	)		(1.9	)		(17,375	)		(5.5	)		(3,031	)		(2.5	)
Foreign withholding taxes		(12,441	)		(3.1	)		33,175			10.5			(1,798	)		(1.5	)
Research and development		(5,865	)		(1.5	)		(6,310	)		(2.0	)		(4,210	)		(3.5	)
Liability for unrecognized tax benefits		4,694			1.2			7,538			2.4			3,044			2.5
Valuation allowance		(1,986	)		(0.5	)		(1,068	)		(0.3	)		2,199			1.8
Employee stock-based compensation		1,784			0.4			(812	)		(0.3	)		(660	)		(0.5	)
Other		1,215			0.3			(19	)		-			593			0.5
Income tax provision	$	56,685			14.3		$	78,807			25.0		$	21,112			17.5

* The sum of the amounts in the table may not equal to the effective tax rate due to rounding.

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible

In accordance with the provisions related to accounting for uncertainty in income taxes, we recognize the benefit of a tax position if the position is “more likely than not” to prevail upon examination by the relevant tax authority. The table below sets forth a reconciliation of the beginning and ending amount of unrecognized tax benefits:

	2022			2021			2020
Balance at January 1,	$	43,378		$	42,466		$	35,652
Additions based on tax positions related to the    current year		10,022			9,244			7,495
Additions for prior year tax positions		75			138			4,952
Reductions for prior year tax positions		(5,403	)		(8,470	)		(5,633	)
Balance at December 31,	$	48,072		$	43,378		$	42,466

Schedule of Deferred Tax Assets and Liabilities

The table below sets forth our deferred tax assets and liabilities as of December 31:

	2022			2021
Deferred tax assets
Inventory cost	$	30,322		$	21,692
Accrued expenses and accounts receivable		6,931			5,966
Research and development tax credits		9,613			9,613
Net operating loss carryforwards		52,599			42,068
Lease obligations		3,845			2,050
Accrued pension		2,500			3,878
Share based compensation and others		20,088			14,809
		125,898			100,076
Valuation allowances		(42,405	)		(45,232	)
Total deferred tax assets, non-current		83,493			54,844
Deferred tax liabilities
Plant, equipment and intangible assets		(6,595	)		(1,330	)
Right of use assets		(3,883	)		(1,975	)
Outside basis differences and others		(36,114	)		(50,773	)
Total deferred tax liabilities, non-current		(46,592	)		(54,078	)
Net deferred tax assets	$	36,901		$	766