XML 53 R39.htm IDEA: XBRL DOCUMENT v3.20.4
Income Taxes Income tax disclosure (Tables)
12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
Income from continuing operations before taxes consisted of the following (in thousands): 
Year Ended December 31,
 202020192018
United States$41,194 $32,849 $(8,600)
Foreign56,300 81,858 30,974 
 $97,494 $114,707 $22,374 
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] The provision (benefit) for income taxes consisted of the following (in thousands):
Year Ended December 31,
 202020192018
Current:   
Federal$6,032 $6,851 $492 
State2,422 2,532 1,865 
Foreign7,290 7,994 9,136 
 15,744 17,377 11,493 
Deferred:   
Federal$(5,319)$(6,720)$(9,118)
State(1,850)(325)(3,072)
Foreign2,049 3,340 (5,722)
 (5,120)(3,705)(17,912)
 $10,624 $13,672 $(6,419)
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] A reconciliation of the provision for income taxes at the statutory rate to our effective tax rate is as follows (dollars in thousands):
Year Ended December 31,
 202020192018
 AmountPercentAmountPercentAmountPercent
Federal tax at the expected statutory rate$20,474 21.0 %$24,088 21.0 %$4,699 21.0 %
State income tax, net of federal effect2,099 2.2 %1,269 1.1 %927 4.1 %
Tax credits(3,269)(3.4)%(2,896)(2.5)%(4,961)(22.2)%
Global intangible low-taxed income(2,555)(2.6)%6,118 5.3 %2,363 10.6 %
Foreign income tax differential(3,888)(4.0)%(5,939)(5.2)%(2,944)(13.2)%
Stock based compensation(4,686)(4.8)%(8,446)(7.4)%(11,040)(49.3)%
Impact of the Tax Act— — %— — %826 3.7 %
IP installment sale and repatriation— — %(2,118)(1.8)%3,252 14.5 %
Contingent consideration1,566 1.6 %— — %— — %
Section 162(m)1,079 1.1 %203 0.2 %456 2.0 %
Other(196)(0.2)%1,393 1.2 %0.1 %
 $10,624 10.9 %$13,672 11.9 %$(6,419)(28.7)%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] The components of our deferred income tax assets (liabilities) are as follows (in thousands):
As of December 31,
 20202019
Deferred tax asset:  
Accruals/other$5,668 $2,632 
Acquired future tax deductions7,781 8,711 
Stock-based compensation7,138 9,654 
Foreign currency translation adjustments2,406 2,716 
Tax credits12,444 11,331 
Inventory reserves8,493 4,305 
Allowance for doubtful accounts4,460 4,242 
Accrued restructuring1,293 7,072 
Chargebacks, discounts, customer concessions22,874 20,975 
Valuation allowance(3,891)(3,677)
 $68,666 $67,961 
Deferred tax liability:  
State income taxes$2,398 $2,600 
Foreign776 997 
Depreciation and amortization26,375 23,839 
Section 481(a) adjustment - change in accounting method9,746 14,618 
$39,295 $42,054 
Deferred tax asset, net
$29,371 $25,907 
Summary of Income Tax Contingencies [Table Text Block]
The following table summarizes our cumulative gross unrecognized tax benefits (in thousands): 
Year Ended December 31,
 202020192018
Beginning balance$15,027 $10,824 $6,527 
Increases to prior year tax positions502 138 — 
Increases to current year tax positions2,987 4,231 4,536 
Decreases to prior year tax positions(15)(3)(146)
Decrease related to lapse of statute of limitations(58)(163)(93)
Ending balance$18,443 $15,027 $10,824