Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The Company's income (loss) before income taxes and income tax expense (benefit), each by tax jurisdiction, consists of the following (dollars in thousands):

	Year ended December 31,
	2020		2019		2018
Income (loss) before income taxes:
Domestic	$	(134,630)	$	52,190	$	64,670
Foreign	31,920		26,070		27,690
Total income (loss) before income taxes	$	(102,710)	$	78,260	$	92,360
Current income tax expense:
Federal	$	200	$	3,530	$	4,410
State and local	810		1,280		2,060
Foreign	7,750		7,070		6,200
Total current income tax expense	8,760		11,880		12,670
Deferred income tax expense (benefit):
Federal	(16,900)		4,890		4,570
State and local	(4,430)		500		1,310
Foreign	(10,380)		(950)		100
Total deferred income tax expense (benefit)	(31,710)		4,440		5,980
Income tax expense (benefit)	$	(22,950)	$	16,320	$	18,650

Schedule of Deferred Tax Assets and Liabilities

The components of deferred taxes are as follows (dollars in thousands):

	December 31, 2020		December 31, 2019
Deferred tax assets:
Accounts receivable	$	260	$	480
Inventories	5,080		4,390
Accrued liabilities and other long-term liabilities	19,190		12,210
Operating lease liability	8,950		6,790
Tax loss and credit carryforwards	20,760		9,200
Other	340		340
Gross deferred tax asset	54,580		33,410
Valuation allowances	(10,180)		(8,310)
Net deferred tax asset	44,400		25,100
Deferred tax liabilities:
Property and equipment	(24,140)		(20,650)
Right of use asset	(8,930)		(6,700)
Goodwill and other intangible assets	(16,230)		(13,250)
Investment in foreign affiliates, including withholding tax	(370)		(830)
Gross deferred tax liability	(49,670)		(41,430)
Net deferred tax liability	$	(5,270)	$	(16,330)

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of income tax expense (benefit) computed at the U.S. federal statutory rate to income tax expense (benefit) allocated to income (loss) before income taxes (dollars in thousands):

	Year ended December 31,
	2020			2019			2018
U.S. federal statutory rate	21		%	21		%	21		%
Tax at U.S. federal statutory rate	$	(21,570)		$	16,440		$	19,390
State and local taxes, net of federal tax benefit	(2,850)			970			2,730
Differences in statutory foreign tax rates	(1,500)			(870)			490
Change in recognized tax benefits	(920)			(920)			(560)
Goodwill and other intangible assets impairment	13,430			—			—
Nontaxable income	—			(570)			(940)
Research and manufacturing incentives	(2,130)			(1,160)			(1,740)
Net change in valuation allowance	(6,390)			3,580			280
Tax Reform Act	—			—			(400)
Other, net	(1,020)			(1,150)			(600)
Income tax expense (benefit)	$	(22,950)		$	16,320		$	18,650

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the change in the UTBs for the years ended December 31, 2020 and 2019 is as follows (dollars in thousands):

	Unrecognized Tax Benefits
Balance at December 31, 2018	$	3,020
Tax positions related to current year:
Additions	110
Tax positions related to prior years:
Additions	—
Reductions	—
Settlements	—
Lapses in the statutes of limitations	(880)
Balance at December 31, 2019	$	2,250
Tax positions related to current year:
Additions	150
Tax positions related to prior years:
Additions	—
Reductions	—
Settlements	—
Lapses in the statutes of limitations	(760)
Balance at December 31, 2020	$	1,640