Income Taxes Income tax disclosure (Tables)
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12 Months Ended |
Dec. 31, 2023 |
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, | | | 2023 | | 2022 | | 2021 | United States | | $ | (136,980) | | | $ | (135,646) | | | $ | 81,484 | | Foreign | | 58,681 | | | 21,237 | | | 41,702 | | | | $ | (78,299) | | | $ | (114,409) | | | $ | 123,186 | |
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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, | | | 2023 | | 2022 | | 2021 | Current: | | | | | | | Federal | | $ | (8,235) | | | $ | 4,128 | | | $ | 20,646 | | State | | 5,035 | | | 3,799 | | | 3,444 | | Foreign | | 26,035 | | | 12,924 | | | 7,236 | | | | $ | 22,835 | | | $ | 20,851 | | | $ | 31,326 | | Deferred: | | | | | | | Federal | | $ | (43,042) | | | $ | (42,012) | | | $ | (8,154) | | State | | (14,657) | | | (11,239) | | | (1,815) | | Foreign | | (13,780) | | | (7,723) | | | (1,306) | | | | (71,479) | | | (60,974) | | | (11,275) | | | | $ | (48,644) | | | $ | (40,123) | | | $ | 20,051 | |
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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, | | | 2023 | | 2022 | | 2021 | | | Amount | | Percent | | Amount | | Percent | | Amount | | Percent | Federal tax at the expected statutory rate | | $ | (16,443) | | | 21.0 | % | | $ | (24,026) | | | 21.0 | % | | $ | 25,869 | | | 21.0 | % | State income tax, net of federal effect | | (6,057) | | | 7.7 | % | | (5,050) | | | 4.4 | % | | 2,907 | | | 2.4 | % | Tax credits | | (9,824) | | | 12.5 | % | | (3,636) | | | 3.2 | % | | (2,443) | | | (2.0) | % | | | | | | | | | | | | | | Global intangible low-taxed income | | (2,658) | | | 3.4 | % | | 2,303 | | | (2.0) | % | | 711 | | | 0.6 | % | Foreign income tax differential | | (2,506) | | | 3.2 | % | | (2,943) | | | 2.5 | % | | (2,983) | | | (2.4) | % | Stock-based compensation | | (289) | | | 0.4 | % | | (3,721) | | | 3.2 | % | | (4,263) | | | (3.5) | % | Foreign-derived intangible income | | (3,299) | | | 4.2 | % | | (2,269) | | | 2.0 | % | | (3,775) | | | (3.1) | % | Transaction cost | | — | | | — | % | | 2,299 | | | (2.0) | % | | — | | | — | % | Contingent consideration | | (3,407) | | | 4.4 | % | | (6,830) | | | 6.0 | % | | (29) | | | — | % | Section 162(m) | | 3,268 | | | (4.2) | % | | 3,942 | | | (3.4) | % | | 1,812 | | | 1.5 | % | Tax reserve releases | | (6,884) | | | 8.8 | % | | (1,834) | | | 1.6 | % | | — | | | — | % | Other | | (545) | | | 0.7 | % | | 1,642 | | | (1.4) | % | | 2,245 | | | 1.8 | % | | | $ | (48,644) | | | 62.1 | % | | $ | (40,123) | | | 35.1 | % | | $ | 20,051 | | | 16.3 | % |
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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, | | | 2023 | | 2022 | Deferred tax asset: | | | | | | | | | | | | | | | Accruals/other | | $ | 30,190 | | | $ | 17,351 | | | | | | | | | | | | | | | | | Acquired future tax deductions | | 10,877 | | | 14,186 | | Stock-based compensation | | 6,987 | | | 6,240 | | Foreign currency translation adjustments | | — | | | — | | Tax credits | | 15,095 | | | 12,906 | | | | | | | Inventory reserves | | 25,592 | | | 25,100 | | Warranty reserve | | 13,788 | | | 13,241 | | Section 163(j) - interest expense limitation | | 25,467 | | | 9,166 | | | | | | | | | | | | Chargebacks, discounts, customer concessions | | 39,077 | | | 39,508 | | Capitalized research and development | | 43,313 | | | 16,587 | | Valuation allowance | | (8,452) | | | (11,166) | | | | $ | 201,934 | | | $ | 143,119 | | Deferred tax liability: | | | | | State income taxes | | $ | 4,465 | | | $ | 1,816 | | | | | | | | | | | | Depreciation and amortization | | 212,429 | | | 226,274 | | Section 481(a) adjustment - change in accounting method | | — | | | — | | | | | | | | | | | | Foreign currency translation and derivative instrument adjustments | | 3,630 | | | 9,581 | | | | $ | 220,524 | | | $ | 237,671 | | | | | | | Deferred tax (liability) asset, net | | $ | (18,590) | | | $ | (94,552) | |
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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, | | | 2023 | | 2022 | | 2021 | Beginning balance | | $ | 54,053 | | | $ | 21,537 | | | $ | 18,443 | | Increases to prior year tax positions | | 2,347 | | | 148 | | | 231 | | Increases due to acquisitions | | — | | | 29,606 | | | — | | Increases to current year tax positions | | 34,607 | | | 4,706 | | | 3,242 | | | | | | | | | Decreases to prior year tax positions | | (2,455) | | | (222) | | | — | | | | | | | | | Decrease related to lapse of statute of limitations | | (9,591) | | | (1,722) | | | (31) | | Decrease related to settlements with tax authorities | | (403) | | | — | | | (348) | | Ending balance | | $ | 78,558 | | | $ | 54,053 | | | $ | 21,537 | |
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