Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Loss from Continuing Operations Before Benefit for Income Taxes

The following table summarizes the income (loss) from continuing operations before benefit (provision) for income taxes and share of net income from joint venture.


	Years Ended December 31,
	2023		2022		2021
United States	$	(64,394)	$	(40,543)	$	(35,325)
Foreign	10,723		9,474		12,883
Loss from continuing operations before benefit (provision) for income taxes and share of net income from joint venture	$	(53,671)	$	(31,069)	$	(22,442)

Income Tax Expense (Benefit)

The following table summarizes total income tax expense (benefit) recognized in each year.


	Years Ended December 31,
	2023		2022		2021
Current taxes:
U.S. Federal	$	(580)	$	(545)	$	(19)
State	126		(625)		(615)
Foreign	3,901		4,576		3,014
Total current tax expense	3,447		3,406		2,380
Deferred taxes:
U.S. Federal	$	(9,057)	$	(6,245)	$	(8,421)
State	(1,833)		70		(1,099)
Foreign	(721)		(986)		(154)
U.S. federal, state and foreign valuation allowance	10,449		5,376		5,538
Total deferred tax benefit	(1,162)		(1,785)		(4,136)
Total income tax expense (benefit)	$	2,285	$	1,621	$	(1,756)

Reconciliation of Income Taxes Based on U.S. Federal Statutory Rate

The following table presents a reconciliation of income taxes based on the U.S. federal statutory income tax rate.


	Years Ended December 31,
	2023		2022		2021
U.S federal statutory income tax rate	21.0	%	21.0	%	21.0	%
Change in valuation allowance, exclusive of state	(16.1)	%	(17.5)	%	(20.0)	%

State taxes, net of federal taxes, exclusive of tax reform	(0.2)	%	1.6	%	4.5	%
Non-U.S. earnings taxed at different rates	1.1	%	0.7	%	3.0	%

Global intangible low-taxed income	(2.3)	%	(3.9)	%	(6.0)	%

Deferred true-up	(0.8)	%	(6.4)	%	—	%


Research and development tax credit	0.2	%	0.3	%	1.0	%
Change in uncertain tax positions	—	%	—	%	0.7	%






Interest on CARES Act refund	1.1	%	1.8	%	—	%

Return to provision	0.1	%	1.3	%	0.8	%

Taxes on unremitted foreign earnings	(2.4)	%	(3.9)	%	2.0	%



Intercompany lending	(1.3)	%	(2.7)	%	(5.3)	%
Warrant revaluation	(4.3)	%	3.6	%	6.5	%
Other adjustments, net	(0.4)	%	(1.1)	%	(0.4)	%
Effective tax rate	(4.3)	%	(5.2)	%	7.8	%

Principal Components of Deferred Tax Assets and Liabilities

The following table summarizes the principal components of the deferred tax assets and liabilities.


	As of December 31,
	2023		2022
Deferred income tax liabilities:
Tax in excess of book depreciation	$	21,497	$	24,045

Intangible assets	13,659		16,978


Operating leases	9,970		10,669
Interest rate swap	—		754
Taxes on unremitted foreign earnings	4,658		4,961
Other deferred tax liabilities	725		761
Total deferred income tax liabilities	50,509		58,168
Deferred income tax assets:
Interest expense limitation	14,920		10,723
Goodwill	20,419		22,277
Inventories	2,456		2,292
Section 174 research and development costs	2,400		1,859

Pension and personnel accruals	1,818		1,717
Operating leases	12,238		12,852
Net operating loss carryforwards	32,043		24,299


Interest rate swap	251		—
Credit carryforwards	3,235		2,803
Accruals and reserves	904		978
Other deferred tax assets	3,099		3,086
Deferred income tax assets before valuation allowance	93,783		82,886
Valuation allowance on deferred tax assets	(47,528)		(30,212)
Total deferred income tax assets	46,255		52,674
Net deferred income tax liabilities	$	4,254	$	5,494

Summary of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits, Excluding Interest and Penalties

The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties.


	Years Ended December 31,
	2023		2022		2021
Balance at beginning of year	$	118	$	125	$	247
Additions for tax positions of prior years	3		—		—

Reductions for tax positions of prior years	—		(7)		(122)
Balance at end of year	$	121	$	118	$	125