Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign and Components of Income Tax Expense

The components of Income from continuing operations before income taxes and Income taxes follow:

	2021		2020		2019
Income from continuing operations before income taxes:
U.S.	$	(28,832)	$	(21,538)	$	2,424
International	156,649		123,033		204,420
Income from continuing operations before income taxes	$	127,817	$	101,495	$	206,844
Income tax provision:
Current:
U.S. – federal	$	4,733	$	3,697	$	2,068
U.S. – state	1,009		(92)		(1,873)
International	38,609		41,506		60,866
	44,351		45,111		61,061
Deferred:
U.S. – federal	$	(6,800)	$	1,914	$	(1,356)
U.S. – state	(1,051)		222		344
International	(8,556)		(9,127)		(11,555)
	(16,407)		(6,991)		(12,567)
Income taxes	$	27,944	$	38,120	$	48,494

Schedule of Deferred Tax Assets and Liabilities

Deferred income tax assets and liabilities at December 31 consist of the tax effects of temporary differences related to the following:

	2021		2020
Deferred tax assets:
Pension	$	8,803	$	15,403
Tax loss carryforwards	11,067		9,521
Inventory valuation	10,660		10,642
Other postretirement/postemployment costs	7,741		7,735
Accrued compensation	9,775		8,085
Goodwill	14,960		4,006
Lease obligation	9,790		9,846
Other	16,609		12,302
Valuation allowance	(3,869)		(3,757)
Total deferred tax assets	85,536		73,784
Deferred tax liabilities:
Depreciation and amortization	(94,286)		(109,391)
Goodwill	(9,909)		(9,850)
Swedish tax incentive	(8,531)		(9,170)
Right of use liability	(9,826)		(9,758)
Other	(7,712)		(5,191)
Total deferred tax liabilities	(130,264)		(143,360)
Net deferred tax liabilities	$	(44,728)	$	(69,576)

Amounts related to deferred taxes in the balance sheets as of December 31, 2021 and 2020 are presented as follows:

	2021		2020
Non-current deferred tax assets	$	21,976	$	22,092
Non-current deferred tax liabilities	(66,704)		(91,668)
Net deferred tax liabilities	$	(44,728)	$	(69,576)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the U.S. federal statutory income tax rate to the consolidated effective income tax rate from continuing operations follows:

	2021		2020		2019
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State taxes (net of federal benefit)	—		—		0.1
Foreign operations taxed at different rates	0.1		5.6		2.0
Foreign losses without tax benefit	1.9		3.0		2.0
Foreign tax rate change	0.4		—		—
Italian goodwill & intangible realignment	(2.1)		—		—
GILTI	2.3		3.0		0.6
Tax holidays	(2.5)		(1.0)		(1.3)
Stock awards excess tax expense/(benefit)	0.4		0.6		(0.9)
Audit settlements including MAP application	(1.5)		0.2		0.3
Adjustment to prior years tax return	1.0		—		—
Tax on Seeger transaction	—		4.9		—
Benefit for change in valuation allowances	—		(0.5)		(0.3)
Other	0.9		0.8		(0.1)
Consolidated effective income tax rate	21.9	%	37.6	%	23.4	%

Summary of Income Tax Contingencies

A reconciliation of the unrecognized tax benefits for 2021, 2020 and 2019 follows:

	2021		2020		2019
Balance at January 1	$	9,156	$	8,919	$	11,594
Increase (decrease) in unrecognized tax benefits due to:
Tax positions taken during prior periods	—		550		11
Tax positions taken during the current period	637		649		1,114
Settlements	(70)		—		(1,351)
Lapse of the applicable statute of limitations	(1,218)		(900)		(2,344)
Foreign currency translation	166		(62)		(105)
Balance at December 31	$	8,671	$	9,156	$	8,919