Income Taxes Income tax disclosure (Tables)
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12 Months Ended |
Dec. 31, 2021 |
Income Tax Disclosure [Abstract] |
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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, | | | 2021 | | 2020 | | 2019 | United States | | $ | 81,484 | | | $ | 41,194 | | | $ | 32,849 | | Foreign | | 41,702 | | | 56,300 | | | 81,858 | | | | $ | 123,186 | | | $ | 97,494 | | | $ | 114,707 | |
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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, | | | 2021 | | 2020 | | 2019 | Current: | | | | | | | Federal | | $ | 20,646 | | | $ | 6,032 | | | $ | 6,851 | | State | | 3,444 | | | 2,422 | | | 2,532 | | Foreign | | 7,236 | | | 7,290 | | | 7,994 | | | | $ | 31,326 | | | $ | 15,744 | | | $ | 17,377 | | Deferred: | | | | | | | Federal | | $ | (8,154) | | | $ | (5,319) | | | $ | (6,720) | | State | | (1,815) | | | (1,850) | | | (325) | | Foreign | | (1,306) | | | 2,049 | | | 3,340 | | | | (11,275) | | | (5,120) | | | (3,705) | | | | $ | 20,051 | | | $ | 10,624 | | | $ | 13,672 | |
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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, | | | 2021 | | 2020 | | 2019 | | | Amount | | Percent | | Amount | | Percent | | Amount | | Percent | Federal tax at the expected statutory rate | | $ | 25,869 | | | 21.0 | % | | $ | 20,474 | | | 21.0 | % | | $ | 24,088 | | | 21.0 | % | State income tax, net of federal effect | | 2,907 | | | 2.4 | % | | 2,099 | | | 2.2 | % | | 1,269 | | | 1.1 | % | Tax credits | | (2,443) | | | (2.0) | % | | (3,269) | | | (3.4) | % | | (2,896) | | | (2.5) | % | | | | | | | | | | | | | | Global intangible low-taxed income | | 711 | | | 0.6 | % | | 163 | | | 0.2 | % | | 6,634 | | | 5.8 | % | Foreign income tax differential | | (2,983) | | | (2.4) | % | | (3,888) | | | (4.0) | % | | (5,939) | | | (5.2) | % | Stock-based compensation | | (4,263) | | | (3.5) | % | | (4,686) | | | (4.8) | % | | (8,446) | | | (7.4) | % | Foreign-derived intangible income | | (3,775) | | | (3.1) | % | | (2,718) | | | (2.8) | % | | (516) | | | (0.5) | % | IP installment sale and repatriation | | — | | | — | % | | — | | | — | % | | (2,118) | | | (1.8) | % | Contingent consideration | | (29) | | | — | % | | 1,566 | | | 1.6 | % | | — | | | — | % | Section 162(m) | | 1,812 | | | 1.5 | % | | 1,079 | | | 1.1 | % | | 203 | | | 0.2 | % | Other | | 2,245 | | | 1.8 | % | | (196) | | | (0.2) | % | | 1,393 | | | 1.2 | % | | | $ | 20,051 | | | 16.3 | % | | $ | 10,624 | | | 10.9 | % | | $ | 13,672 | | | 11.9 | % |
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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, | | | 2021 | | 2020 | Deferred tax asset: | | | | | | | | | | | | | | | Accruals/other | | $ | 6,866 | | | $ | 4,406 | | | | | | | | | | | | | | | | | Acquired future tax deductions | | 5,440 | | | 7,781 | | Stock-based compensation | | 7,283 | | | 7,138 | | Foreign currency translation adjustments | | 3,360 | | | 2,406 | | Tax credits | | 11,953 | | | 12,444 | | | | | | | Inventory reserves | | 8,199 | | | 8,493 | | Allowance for doubtful accounts | | 926 | | | 4,460 | | Accrued restructuring | | 131 | | | 1,293 | | Chargebacks, discounts, customer concessions | | 27,970 | | | 22,874 | | Valuation allowance | | (2,934) | | | (3,891) | | | | $ | 69,194 | | | $ | 67,404 | | Deferred tax liability: | | | | | State income taxes | | $ | 2,724 | | | $ | 2,398 | | Foreign | | — | | | 776 | | | | | | | Depreciation and amortization | | 20,483 | | | 25,113 | | Section 481(a) adjustment - change in accounting method | | 4,873 | | | 9,746 | | | | | | | | | | | | | | | | | | | $ | 28,080 | | | $ | 38,033 | | | | | | | Deferred tax asset, net | | $ | 41,114 | | | $ | 29,371 | |
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Summary of Income Tax Contingencies [Table Text Block] |
The following table summarizes our cumulative gross unrecognized tax benefits (in thousands): | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | | 2021 | | 2020 | | 2019 | Beginning balance | | $ | 18,443 | | | $ | 15,027 | | | $ | 10,824 | | Increases to prior year tax positions | | 231 | | | 502 | | | 138 | | | | | | | | | Increases to current year tax positions | | 3,242 | | | 2,987 | | | 4,231 | | | | | | | | | Decreases to prior year tax positions | | — | | | (15) | | | (3) | | | | | | | | | Decrease related to lapse of statute of limitations | | (31) | | | (58) | | | (163) | | Decrease related to settlements with tax authorities | | (348) | | | — | | | — | | Ending balance | | $ | 21,537 | | | $ | 18,443 | | | $ | 15,027 | |
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