INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

INCOME TAXES

Schedule of provision for income taxes based on income before income taxes

The provision for income taxes is based on income before income taxes as follows (in thousands):

	For the year ended
	December 31,		December 31,		December 31,
	2021		2020		2019
Domestic	$	10,642	$	8,478	$	17,188
Foreign		12,471		10,298		6,653
Income before income taxes	$	23,113	$	18,776	$	23,841

Schedule of components of the total provision for income taxes

Components of the total income tax (benefit) provision are as follows (in thousands):

	For the year ended
	December 31,		December 31,		December 31,
	2021		2020		2019
Current provision
Domestic	$	1,866	$	2,167	$	4,313
Foreign		3,288		3,485		2,618
Total current provision		5,154		5,652		6,931
Deferred (benefit) provision
Domestic		649		288		199
Foreign		(6,784)		(807)		(311)
Total deferred (benefit) provision		(6,135)		(519)		(112)
Income tax (benefit) provision	$	(981)	$	5,133	$	6,819

Schedule of differences in the provision for income taxes from the amount determined by applying the federal statutory rate

	For the year ended
	December 31,		December 31,		December 31,
	2021		2020		2019
Tax provision, computed at statutory rate	21.0	%	21.0	%	21.0	%
State tax, net of federal impact	2.2	%	4.2	%	4.5	%
Change in valuation allowance	7.2	%	0.0	%	0.3	%
Effect of foreign tax rate differences	3.9	%	4.3	%	1.5	%
Permanent items, other	0.2	%	(0.2)	%	1.4	%
Section 162(m) compensation	3.0	%	2.2	%	1.1	%
R&D tax credits	(2.8)	%	(3.6)	%	(2.5)	%
Effect of Tax Cuts and Jobs Act	1.2	%	(1.3)	%	(0.4)	%
Subpart F income	(1.0)	%	1.3	%	0.0	%
Tax examinations	0.0	%	0.0	%	1.8	%
Investment tax credits	(5.6)	%	0.0	%	0.0	%
Net operating loss carryforwards	(37.2)	%	0.0	%	0.0	%
Unrecognized tax benefits	4.9	%	0.0	%	0.0	%
Other	(1.2)	%	(0.6)	%	(0.1)	%
Income tax (benefit) provision	(4.2)	%	27.3	%	28.6	%

Schedule of tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities

The tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities are as follows (in thousands):

	December 31,		December 31,
	2021		2020
Noncurrent deferred tax assets:
Employee benefit plans	$	2,085	$	2,500
Net operating loss and tax credit carryforwards		9,802		2,217
Accrued expenses and reserves		915		969
Other		218		697
Total noncurrent deferred tax assets		13,020		6,383
Valuation allowance		(2,896)		(1,176)
Net noncurrent deferred tax assets:	$	10,124	$	5,207
Net noncurrent deferred tax liabilities:
Property and equipment	$	3,238	$	3,448
Goodwill and intangibles		6,484		5,629
Other		121		459
Total noncurrent deferred tax liabilities	$	9,843	$	9,536
Net deferred tax asset/(deferred tax liability)	$	281	$	(4,329)
Presented as follows:
Noncurrent deferred income tax assets	$	5,321	$	330
Noncurrent deferred income tax liabilities		(5,040)		(4,659)
Net deferred tax asset (liability)	$	281	$	(4,329)

Summary Of Operating Loss And Tax Credit Carryforwards [Table Text Block]

As of December 31, 2021, the Company has the following gross carryforwards available (in thousands):

			Amount
Jurisdiction	Tax Attribute		(in thousands)	Begin to expire
U.S. State	Net Operating Losses (1)	$	4,812	2025
International	Net Operating Losses (1)	$	1,678	2025
International	Net Operating Losses - Unlimited Carryforward (1)	$	22,886	No expiration
U.S. Federal	Foreign Tax Credits	$	1,003	2027
International	R&D Tax Credits	$	513	2026

Schedule of changes to the unrecognized tax benefit

The summary of changes to the unrecognized tax benefit for the year ended December 31, 2021 is as follows (in thousands):

	December 31,
	2021 (1)
Beginning balance	$	—
Additions from tax legislation changes for net operating loss carryforwards		1,125
Reductions related to net operating loss usage on 2020 tax returns		(68)
Ending balance	$	1,057
___________________________
(1)     No other unrecognized tax benefits were recognized in periods prior to the year ended December 31, 2021 that, if recognized, would reduce the effective tax rate.