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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Components of Income Tax Expense
 Years ended December 31,
 202020192018
 (in thousands)
Income (loss) before taxes:
United States operations$(117,819)$42,833 $115,500 
Foreign operations183,946 109,577 114,580 
Income before taxes$66,127 $152,410 $230,080 
Income tax expense (benefit):
Currently payable
United States federal$273 $21,893 $31,730 
United States state and local91 3,090 3,912 
Foreign11,511 13,859 16,968 
11,875 38,842 52,610 
Deferred
United States federal(1,754)7,567 7,220 
United States state and local(2,310)(1,205)(31)
Foreign3,913 (2,685)3,137 
(151)3,677 10,326 
Income tax expense$11,724 $42,519 $62,936 
Effective Income Tax Rate Reconciliation from Continuing Operations
 Years Ended December 31,
 202020192018
Effective income tax rate reconciliation from continuing operations:
United States federal statutory rate21.0%21.0%21.0%
State and local income taxes(2.6)%1.2%1.5%
Impact of change in tax contingencies2.3%—%(0.7)%
Foreign income tax rate differences(38.2)%(8.6)%(1.0)%
Impact of change in deferred tax asset valuation allowance3.1%9.2%0.3%
Domestic permanent differences and tax credits33.9%5.1%1.9%
Impact of tax reform—%—%4.4%
Impact of CARES act(1.8)%—%—%
17.7%27.9%27.4%
Components of Deferred Income Tax Balances
 December 31,
 20202019
 (In thousands)
Components of deferred income tax balances:
Deferred income tax liabilities:
Plant, equipment, and intangibles$(92,271)$(96,254)
Right of use asset(17,610)(16,906)
(109,881)(113,160)
Deferred income tax assets:
Postretirement, pensions, and stock compensation35,394 28,169 
Reserves and accruals24,388 15,395 
Net operating loss, capital loss, and tax credit carryforwards107,028 76,456 
Lease liability18,515 17,882 
Valuation allowances(84,308)(48,251)
101,017 89,651 
Net deferred income tax liability$(8,864)$(23,509)
Summary of Net Operating Loss Carryforwards The following tables summarize our net operating losses carryforwards and tax credit carryforwards as of December 31, 2020 by jurisdiction:
 Net Operating Loss Carryforwards
 (In thousands)
Australia$10,546 
Germany15,852 
Japan653 
Luxembourg163 
Netherlands6,578 
Other20,723 
United Kingdom10,720 
United States - Federal and various states140,117 
Total$205,352 
Summary of Tax Credit Carryforwards
 Tax Credit Carryforwards
 (In thousands)
United States$56,617 
Canada492 
Total$57,109 
Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
20202019
 (In thousands)
Balance at beginning of year$6,779 $6,591 
Additions based on tax positions related to the current year548 488 
Additions for tax positions of prior years1,574 — 
Reductions for tax positions of prior years - Settlement(328)(300)
Balance at end of year$8,573 $6,779