The income tax provisions were calculated based upon the following components of (loss) earnings before income tax for the years ended December 31, 2020, 2019 and 2018:

	Year Ended December 31,
	2020			2019			2018
(Loss) earnings before income tax:
Domestic	$	(11,374	)	$	74,531		$	10,092
Foreign		92,930			(15,380	)		48,027
Earnings before income tax	$	81,556		$	59,151		$	58,119

The components of the provision for income taxes for the years ended December 31, 2020, 2019 and 2018 are summarized as follows:

	Year Ended December 31,
	2020			2019			2018
Current income tax expense (benefit):
Federal	$	784		$	262		$	340
State and local		83			94			(71	)
Foreign		20,150			17,672			9,224
Total current income tax expense		21,017			18,028			9,493
Deferred income tax expense (benefit):
Federal		(2,302	)		(2,490	)		(1,422	)
State and local		32			(1	)		20
Foreign		3,119			(5,252	)		8,129
Total deferred income tax expense		849			(7,743	)		6,727
Total income tax expense	$	21,866		$	10,285		$	16,220

As of December 31, 2020, deferred income taxes have not been provided on the undistributed earnings of the Company’s foreign subsidiaries since these earnings will not be taxable upon repatriation to the United States. These earnings will be primarily treated as previously taxed income from either the one-time transition tax or global intangible low-taxed income (“GILTI”) provision, or they will be offset with a 100% dividend received deduction. However, the Company continues to provide a deferred tax liability for foreign withholding tax that will be incurred with respect to the undistributed foreign earnings that are not permanently reinvested.

The deferred tax assets and deferred tax liabilities and related valuation allowance were comprised of the following as of December 31, 2020 and 2019:

	December 31,
	2020			2019
Deferred tax assets:
Net operating losses	$	22,658		$	17,881
Intangible assets		29,145			33,743
Research and development credits		10,773			9,752
Depreciation		7,426			7,223
Valuation reserves and accrued liabilities		7,131			7,196
Stock compensation		4,200			3,485
Defined benefit obligation		1,974			2,027
Inventory		1,571			1,284
Other credits		12,068			11,753
Unrealized foreign currency exchange loss		1,431			—
Other		64			113
Total deferred tax asset		98,441			94,457
Valuation allowance		(17,197	)		(17,316	)
Deferred tax liabilities:
Unrealized foreign currency exchange gains		—			(674	)
Undistributed profits of subsidiary		(5,727	)		(4,629	)
Property and equipment		(2,758	)		(3,366	)
Other		(572	)		(733	)
Total deferred tax liability		(9,057	)		(9,402	)
Net deferred tax asset	$	72,187		$	67,739

Reconciliations between the statutory Federal income tax rate and the effective rate of income tax expense for the years ended December 31, 2020, 2019 and 2018 are as follows:

	Year Ended December 31,
	2020			2019			2018
Statutory Federal income tax rate		21.0	%		21.0	%		21.0	%
Increase (decrease) resulting from:
Change in valuation allowance		(0.4	)%		11.5	%		(6.6	)%
Effect of different tax rates of foreign jurisdictions		(4.7	)%		(24.8	)%		(6.6	)%
Audit settlements and statute expirations		3.9	%		0.6	%		(1.1	)%
US tax reform items		2.5	%		4.3	%		10.8	%
Research and development credits		(1.4	)%		(2.3	)%		(2.5	)%
Non-deductible expenses		2.1	%		2.1	%		3.4	%
Foreign, state and local tax, net of Federal benefit		1.4	%		1.7	%		1.8	%
Tax effects of intercompany transfers		1.4	%		1.5	%		0.8	%
Undistributed profit of subsidiaries		0.9	%		1.2	%		1.2	%
Other		0.1	%		0.6	%		5.7	%
Effective rate		26.8	%		17.4	%		27.9	%

We have incurred NOLs in various states associated with the benefits of the state dividends received reduction along with the foreign royalty exclusion. The state NOL carryforwards expire at various dates from 2021 to 2040. Management has concluded that it is more likely than not that a majority of these NOLs will not be utilized, and thus has not recognized the benefit of these NOLs.

At December 31, 2020, certain non-U.S. subsidiaries had net operating loss carryforwards totaling $169,293. This amount included $7,441 in NOLs that expire at various dates from 2021 through 2025 and the remaining $161,851 have no expiration date. The Company had a valuation allowance recorded against $5,787 of the total non-U.S. subsidiaries’ net operating loss carryforwards as of December 31, 2020.

The Company is subject to taxation in the United States and various state and foreign jurisdictions. As of December 31, 2020, the Company was no longer subject to U.S. Federal examinations by tax authorities for tax years before 2016 and was no longer subject to foreign examinations by tax authorities for tax years before 2014.

During 2015, to entice the Company to construct a new facility in North Macedonia, the government of North Macedonia granted the Company a tax holiday, in combination with state aid, which released the Company from the obligation to pay corporate income taxes for a ten year period, subject to certain limitations. The amount of corporate income tax savings realized by the Company as a result of this tax holiday during 2020, 2019 and 2018, respectively, was zero as a result of operating losses generated during previous periods. The aggregate dollar effect and per share effect of the corporate income tax holiday during 2020, 2019 and 2018 was, therefore, immaterial.

At December 31, 2020, 2019 and 2018, the Company had total unrecognized tax benefits of $4,967, $3,795 and $2,819, respectively, all of which, if recognized, would affect the effective income tax rates. The reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	Year Ended December 31,
	2020			2019			2018
Balance at beginning of year	$	3,795		$	2,819		$	3,812
Additions based on tax position related to current year		1,489			661			221
Additions based on tax position related to prior year		179			352			423
Reductions from settlements and statute of limitation expiration		(650	)		—			(1,469	)
Effect of foreign currency translation		154			(37	)		(168	)
Balance at end of year	$	4,967		$	3,795		$	2,819

The Company classifies income tax-related penalties and net interest as income tax expense. In the years ended December 31, 2020, 2019 and 2018, income tax related interest and penalties were not material. It is reasonably possible that audit settlements, the conclusions of current examinations or the expiration of the statute of limitations in several jurisdictions could impact the Company’s unrecognized tax benefits. If recognized, all the Company’s gross unrecognized tax benefits would affect the Company’s effective tax rate.