Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Taxes on income before equity in net income of associated companies for the years ended December 31, 2022, 2021 and 2020 are as follows:

	2022		2021		2020
Current:
Federal	$	(708)	$	955	$	(1,359)
State	1,450		2,115		1,171
Foreign	34,735		44,375		33,173
	35,477		47,445		32,985
Deferred:
Federal	(2,798)		(3,863)		(28,437)
State	(713)		(3,117)		(3,087)
Foreign	(7,041)		(5,526)		(6,757)
Total	$	24,925	$	34,939	$	(5,296)

Schedule of Income before Income Tax, Domestic and Foreign

The components of earnings before income taxes for the years ended December 31, 2022, 2021 and 2020 are as follows:

	2022		2021		2020
U.S.	$	(4,933)	$	7,263	$	(66,585)
Foreign	12,051		139,728		93,724
Total	$	7,118	$	146,991	$	27,139

Schedule of Deferred Tax Assets and Liabilities

Total deferred tax assets and liabilities are composed of the following as of December 31, 2022 and 2021:

	2022		2021
Retirement benefits	$	8,469	$	11,860
Allowance for credit losses	2,246		2,155
Insurance and litigation reserves	716		675
Performance incentives	3,327		2,881
Equity-based compensation	2,723		1,920
Prepaid expense	486		460
Operating loss carryforward	20,519		18,544
Foreign tax credit and other credits	5,506		16,285
Interest	9,928		9,940
Restructuring reserves	791		631
Right of use lease assets	8,440		8,322
Inventory reserves	2,967		2,941
Research and development	11,936		8,832
Other	4,307		2,846
	82,361		88,292
Valuation allowance	(11,730)		(17,400)
Total deferred tax assets, net	$	70,631	$	70,892
Depreciation	11,935		11,580
Foreign pension and other	2,691		2,332
Intangibles	182,838		197,066
Lease liabilities	9,590		8,421
Outside basis in equity investment	5,886		5,999
Unremitted Earnings	6,766		8,381
Total deferred tax liabilities	$	219,706	$	233,779

Summary of Valuation Allowance

The following are the changes in the Company’s deferred tax asset valuation allowance for the years ended December 31, 2022, 2021 and 2020:

	Balance at Beginning of Period		Purchase Accounting Adjustments		Additional Valuation Allowance		Allowance Utilization and Other		Effect of Exchange Rate Changes		Balance at End of Period
Valuation Allowance
Year ended December 31, 2022	$	17,400	$	—	$	1,326	$	(6,789)	$	(207)	$	11,730
Year ended December 31, 2021	$	21,511	$	—	$	29	$	(4,470)	$	330	$	17,400
Year ended December 31, 2020	$	13,834	$	7,148	$	2,738	$	(2,153)	$	(56)	$	21,511

Schedule Of Deferred Tax Assets And Liabilities Balance Sheet Classification

The Company’s net deferred tax assets and liabilities are classified in the Consolidated Balance Sheets as of December 31, 2022 and 2021 as follows:

	2022		2021
Non-current deferred tax assets	$	11,218	$	16,138
Non-current deferred tax liabilities	160,294		179,025
Net deferred tax liability	$	(149,076)	$	(162,887)

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of income taxes at the Federal statutory rate with income taxes recorded by the Company for the years ended December 31, 2022, 2021 and 2020. Certain immaterial reclassifications within the presentation of the reconciliation of income taxes have been made to the years ended December 31, 2021 and 2020:

	2022		2021		2020
Income tax provision at the Federal statutory tax rate	$	1,495	$	30,868	$	5,699
Unremitted earnings	(1,839)		1,841		(2,308)
Tax law changes / reform	823		1,955		(1,059)
U.S. tax on foreign operations	4,864		10,479		5,140
Pension settlement	—		—		(2,247)
Foreign derived intangible income	(917)		(8,698)		(7,339)
Non-deductible acquisition expenses	45		129		131
Withholding taxes	7,785		6,584		7,809
Foreign tax credits	(5,850)		(14,725)		(4,699)
Share-based compensation	1,234		600		335
Foreign tax rate differential	4,782		1,712		332
Research and development credit	(1,757)		(1,685)		(1,018)
Audit Settlements	2,697		1,378		807
Uncertain tax positions	(6,375)		519		1,990
State income tax provisions, net	432		(1,446)		(2,245)
Non-deductible meals and entertainment	146		426		290
Intercompany transfer of intangible assets	(1,932)		4,347		(4,384)
Goodwill Impairment	19,550		—		—
Miscellaneous items, net	(258)		655		(2,530)
Taxes on income before equity in net income of associated companies	$	24,925	$	34,939	$	(5,296)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years ended December 31, 2022, 2021 and 2020, respectively, is as follows:

	2022		2021		2020
Unrecognized tax benefits as of January 1	$	22,464	$	22,152	$	19,097
(Decrease) increase in unrecognized tax benefits taken in prior periods	(1,174)		1,002		2,025
Increase in unrecognized tax benefits taken in current period	953		2,915		3,095
Decrease in unrecognized tax benefits due to lapse of statute of limitations	(2,378)		(1,527)		(2,024)
Decrease in unrecognized tax benefits due to audit settlements	(2,509)		(1,104)		(1,635)
Increase in unrecognized tax benefits due to acquisition	—		—		597
(Decrease) increase due to foreign exchange rates	(1,016)		(974)		997
Unrecognized tax benefits as of December 31	$	16,340	$	22,464	$	22,152