Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule Of U.S. And Non-U.S. Components Of Income (Loss) Before Provision (Benefit) For Income Taxes

The following table summarizes the U.S. and non-U.S. components of income before provision for income taxes:

	For the Year Ended December 31,
	2021		2020		2019
	(Dollars in thousands)
U.S.	$	(69,087)	$	51,672	$	85,365
Non-U.S.	525,493		458,373		757,462
Income before provision for income taxes	$	456,406	$	510,045	$	842,827

Schedule Of Income Tax Expense (Benefit)

Provision for income taxes consists of the following:

	For the Year Ended December 31,
	2021		2020		2019
U.S. income taxes:
Current	$	645	$	(7,660)	$	16,589
Deferred	2,132		27,822		5,690
	2,777		20,162		22,279
Non-U.S. income taxes:
Current	71,088		63,092		64,134
Deferred	(5,789)		(7,583)		11,812
	65,299		55,509		75,946
Provision for income taxes	$	68,076	$	75,671	$	98,225

Schedule Of Income Tax Expense (Benefit) Computed By Applying The U.S. Federal Income Tax Rate

	For the Year Ended December 31,
	2021		2020		2019
	(Dollars in thousands)
Tax at statutory U.S. federal rate	$	95,845	$	107,109	$	176,994
Impact of U.S. Tax Cuts and Jobs Act of 2017 - GILTI	51,016		45,539		65,531
Impact of Tax Receivable Agreement	49		(4,429)		713
Valuation allowance	(2,208)		(980)		(14,548)
State taxes, net of federal tax benefit	1,414		3,591		4,231
U.S. tax impact of foreign earnings (net of foreign tax credits)	537		2,113		2,181
Establishment/resolution of uncertain tax positions	(48)		(78)		(1,293)
Adjustment for foreign income taxed at different rates	(38,530)		(38,464)		(76,922)
Foreign tax credits	(43,821)		(37,280)		(56,171)
Change-in-Control-related compensation	10,626		—		—
Other	(6,804)		(1,450)		(2,491)
Provision for income taxes	$	68,076	$	75,671	$	98,225

Schedule Of Deferred Tax Assets And Deferred Tax Liabilities

	As of December 31,
	2021		2020
	(Dollars in thousands)
Deferred tax assets:
Post-employment and other employee benefits	$	17,375	$	18,202
Foreign tax credit and other carryforwards	32,452		37,101
Capitalized research and experimental costs	1,935		3,897
Environmental reserves	1,133		1,111
Inventory adjustments	10,545		7,381
Long-term contract option amortization	982		1,031
Provision for rationalization charges	71		96
Mark-to-market hedges	—		3,552
Previously taxed income	5,229		2,163
Other	2,175		1,483
Total gross deferred tax assets	71,897		76,017
Less: valuation allowance	(10,550)		(12,773)
Total deferred tax assets	61,347		63,244
Deferred tax liabilities:
Fixed assets	$	51,595	$	54,485
Inventory	8,834		8,573
Goodwill and acquired intangibles	9,502		7,552
Mark-to-market hedges	2,824		—
Other	3,079		3,254
Total deferred tax liabilities	75,834		73,864
Net deferred tax (liability)	$	(14,487)	$	(10,620)

Schedule Of Valuation Allowance Activity

Valuation allowance activity for the years ended December 31, 2021, 2020 and 2019 is as follows:

	(Dollars in thousands)
Balance as of December 31, 2018	$	58,446
Credited to income	(14,548)
Changes attributable to write-off of underlying assets	(30,138)
Translation adjustment	(24)
Balance as of December 31, 2019	$	13,736
Credited to income	(980)
Translation adjustment	17
Balance as of December 31, 2020	$	12,773
Credited to income	(2,208)
Translation adjustment	(15)
Balance as of December 31, 2021	$	10,550

Reconciliation Of The Beginning And Ending Amount Of Unrecognized Tax Benefits

	(Dollars in thousands)
Balance as of December 31, 2019	$	184
Settlements	(75)
Foreign currency impact	16
Balance as of December 31, 2020	$	125
Lapse of statutes of limitations	(45)
Foreign currency impact	(7)
Balance as of December 31, 2021	$	73