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Income taxes (Tables)
12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Components of Provision for Income Taxes from Continuing Operations
The following table summarizes the components of the provision for income taxes from continuing operations:
202020192018
Current:
Federal$11,148 $19,374 $(1,525)
State9,644 8,220 1,432 
Non-U.S.35,042 23,690 29,353 
Deferred:
Federal(9,475)(2,041)(5,124)
State(13,734)(28,277)(5,114)
Non-U.S.(10,694)(143,044)4,174 
$21,931 $(122,078)$23,196 
Summaries of U.S. and Non-U.S. Components of Income from Continuing Operations Before Taxes
The following table summarizes the U.S. and non-U.S. components of income from continuing operations before taxes:
202020192018
U.S.$233,034 $89,021 $37,201 
Non-U.S.124,698 250,882 182,427 
$357,732 $339,903 $219,628 
Reconciliations Between Statutory Federal Income Tax Rate and Effective Income Tax Rate
Reconciliations between the statutory federal income tax rate and the effective income tax rate are as follows:
202020192018
Federal statutory rate21.0 %21.0 %21.0 %
Tax effect of international items(5.3)(11.3)(3.3)
Impacts of the TCJA (1)
— — (1.0)
Foreign Merger - Deferred Taxes (2)
— (38.0)— 
Excess tax benefits related to share-based compensation(4.9)(4.5)(7.2)
State taxes, net of federal benefit(0.3)(4.9)(0.1)
Uncertain tax contingencies(0.5)— (0.4)
Contingent consideration(2.2)3.4 5.3 
Intellectual property impairment charge(1.2)— (2.0)
Research and development tax credit(1.1)(1.1)(1.6)
Other, net0.6 (0.5)(0.1)
6.1 %(35.9)%10.6 %
(1)U.S. tax legislation commonly referred to as the Tax Cuts and Jobs Act (the "TCJA") was enacted on December 22, 2017. The legislation significantly changed U.S. tax law by, among other things, reducing the corporate income tax rate and imposing a one-time repatriation tax on undistributed post-1986 non-U.S. subsidiary earnings and profits. This legislation required significant one-time adjustments to our consolidated tax provision.
(2)During 2019, we recognized a discrete tax benefit of $129.0 million resulting from a non-U.S. legal entity restructuring that eliminated the requirement to provide for withholding taxes on the future repatriation of certain non-permanently reinvested earnings.
Deferred Tax Assets and Liabilities
The following table summarizes significant components of our deferred tax assets and liabilities at December 31, 2020 and 2019:
20202019
Deferred tax assets:
Tax loss and credit carryforwards$180,782 $174,997 
Lease assets25,429 28,577 
Pension12,237 14,971 
Reserves and accruals72,931 60,799 
Other7,996 3,207 
Less: valuation allowances(155,008)(119,233)
Total deferred tax assets144,367 163,318 
Deferred tax liabilities:
Property, plant and equipment25,633 23,053 
Intangibles — stock acquisitions476,150 441,079 
Unremitted non-U.S. earnings91,539 81,967 
Lease liabilities25,429 28,577 
Other2,221 22,628 
Total deferred tax liabilities620,972 597,304 
Net deferred tax liability$(476,605)$(433,986)
Uncertain Tax Positions for Liabilities Associated with Unrecognized Tax Benefits
Uncertain Tax Positions: The following table is a reconciliation of the beginning and ending balances for liabilities associated with unrecognized tax benefits for the years ended December 31, 2020, 2019 and 2018:
202020192018
Balance at January 1
$7,561 $8,106 $9,336 
Increase in unrecognized tax benefits related to prior years
1,286 351 — 
Decrease in unrecognized tax benefits related to prior years
— (201)— 
Unrecognized tax benefits related to the current year
— 1,237 899 
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations
(1,864)(1,881)(1,955)
Increase (decrease) in unrecognized tax benefits due to foreign currency translation
247 (51)(174)
Balance at December 31
$7,230 $7,561 $8,106 
Examinations by Major Tax Jurisdictions
The taxable years for which the applicable statute of limitations remains open by major tax jurisdictions are as follows:
 BeginningEnding
U.S.20172020
Canada20162020
China20152020
Czech Republic20172020
France20182020
Germany20112020
India20022020
Ireland20162020
Italy20162020
Malaysia20162020
Singapore20162020
Schedule of Cash Flow, Supplemental Disclosures, Income Tax
Supplemental cash flow information
Year Ended December 31,
202020192018
Income taxes paid, net of refunds$77,163 $73,632 $65,605