Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income (Loss) Before Income Taxes From Domestic and International Jurisdictions

Income/(loss) before income taxes from domestic and international jurisdictions is comprised of the following:

Year Ended December 31,	2022			2021
(Dollars in thousands)
Income (loss) before income taxes:
Domestic	$	(22,538	)	$	(44,129	)
Foreign		73,676			55,320
	$	51,138		$	11,191

Benefit (Provision) for Income Taxes

The benefit/(provision) for income taxes is comprised of the following:

Year Ended December 31,	2022			2021
(Dollars in thousands)
Current taxes
Federal	$	(1,946	)	$	(67	)
State		(77	)		(99	)
Foreign		(21,345	)		(9,229	)
Total current taxes		(23,368	)		(9,395	)
Deferred taxes
Federal		275			711
State		—			—
Foreign		8,989			1,247
Total deferred taxes		9,264			1,958
Income tax provision	$	(14,104	)	$	(7,437	)

Reconciliation of the U.S. Federal Tax Rate

The following is a reconciliation of the U.S. federal tax rate to our effective income tax rate:

Year Ended December 31,	2022			2021
Statutory rate		21.0	%		21.0	%
State tax provisions, net of federal income tax benefit		1.7			(14.2	)
Tax credits		(26.4	)		(13.2	)
Foreign income taxes at rates other than the statutory rate		(19.9	)		(97.1	)
Valuation allowance		15.6			203.6
Changes in tax liabilities, net		4.9			(89.7	)
Share based compensation		3.4			10.9
Unremitted non-U.S. Earnings		2.0			3.6
US tax on non-US income		19.9			16.3
Non-deductible charges		4.1			22.3
Other		1.2			3.0
Effective income tax rate		27.5	%		66.5	%

Summary of Deferred Income Tax Assets and Liabilities

Tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:

Year Ended December 31,	2022			2021
(Dollars in thousands)
Deferred income tax assets:
Accrued liabilities	$	7,220		$	4,964
Hedging and foreign currency gains (losses)		1,353			9,231
Deferred compensation		6,638			8,162
Inventory reserves		3,895			3,777
Net loss carryforwards and credits		48,774			40,747
Interest carryforwards		23,098			29,366
Intangibles, property, plant and equipment and other		7,865
Competent authority deferred tax assets and    other foreign timing differences		4,915			4,739
Other		946			1,143
Total before valuation allowance		104,704			102,129
Valuation allowance		(67,626	)		(69,388	)
Net deferred income tax assets		37,078			32,741
Deferred income tax liabilities:
Intangibles, property, plant and equipment and other					(4,408	)
Unremitted earnings		(5,359	)		(4,531	)
Deferred income tax liabilities		(5,359	)		(8,939	)
Net deferred income tax assets	$	31,719		$	23,802

The classification of our net deferred tax asset is shown below:

Year Ended December 31,	2022			2021
(Dollars in thousands)
Long-term deferred income tax assets	$	35,187		$	27,715
Long-term deferred income tax liabilities		(3,468	)		(3,913	)
Net deferred tax asset	$	31,719		$	23,802

Schedule of Unrecognized Tax Positions Roll Forward

Year Ended December 31,	2022			2021
(Dollars in thousands)
Beginning balance	$	16,362		$	31,858
Increases (decreases) due to foreign currency translations	$	(712	)		(1,192	)
Increases (decreases) as a result of positions    taken during:
Prior periods		10,580			(13,633	)
Current period		50			48
Settlements with taxing authorities					(719	)
Expiration of applicable statutes of limitation		(180	)
Ending balance	$	26,100		$	16,362