	Year Ended December 31,
	2020			2019			2018
	(In thousands)
Domestic	$	(76,056	)	$	(51,041	)	$	(120,784	)
Foreign		14,007			61,470			5,795
Total	$	(62,049	)	$	10,429		$	(114,989	)

	Year Ended December 31,
	2020			2019			2018
	(In thousands)
Current:
Federal	$	(44,752	)	$	(569	)	$	(24,366	)
Foreign		8,454			8,513			9,163
Total current		(36,298	)		7,944			(15,203	)
Deferred:
Federal		-			-			-
Foreign		5,017			765			(4,091	)
Total deferred		5,017			765			(4,091	)
Total	$	(31,281	)	$	8,709		$	(19,294	)

The difference between the effective income tax rate reflected in the provision for income taxes and the U.S. federal statutory rate was as follows:

	Year Ended December 31,
	2020			2019			2018
Federal income tax statutory rate		21.00	%		21.00	%		21.00	%
CARES ACT NOL rate differential (2019 and 2020)		32.60			-			-
Accrual for undistributed earnings		(5.15	)		-			-
Foreign income tax rate differential		(1.03	)		16.20			(0.94	)
Foreign development tax incentive		(0.38	)		(0.91	)		0.24
Nondeductible goodwill impairment		(2.42	)		-			(5.21	)
Exempt income		1.25			(24.02	)		2.32
Foreign taxes and inclusions (net of FTC)		(9.26	)		21.00			(1.83	)
Transition tax (net of FTC)		-			-			5.80
Nondeductible expenses		(5.35	)		15.51			(1.03	)
Manufacturing benefit		(7.32	)		-			(1.18	)
Change in valuation allowance		28.26			24.96			(1.99	)
Changes to PY Accruals		(3.15	)		6.28			(1.17	)
Deferred tax rate change		(0.10	)		(0.36	)		0.66
Change in Uncertain tax positions		(0.83	)		4.31			(0.78	)
Interest on net equity		-			-			1.02
General business credits		2.32			(11.14	)		0.59
Branch income		(0.31	)		9.64			(0.66	)
Other		0.28			1.03			(0.06	)
Effective tax rate		50.41	%		83.50	%		16.78	%

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s net deferred tax assets (liabilities) are as follows:

	As of December 31,
	2020			2019
	(In thousands)
Deferred tax assets:
Foreign tax credit carryforward	$	6,549		$	4,817
Inventory		13,536			17,777
Net operating losses		1,250			18,991
Allowance for doubtful accounts		490			358
Reserve for accrued liabilities		4,029			2,732
Stock options		1,670			2,782
Unrealized gain/loss		1,554			1,862
Disallowed interest carryforward		1,912			-
Other		1,939			867
Total deferred tax assets		32,929			50,186
Valuation allowance		(17,049	)		(34,464	)
Deferred tax liabilities:
Property, plant and equipment		(6,048	)		(5,757	)
Goodwill & Intangibles		(1,903	)		(2,092	)
Deferred revenue		(3,415	)		(1,830	)
Reserve for unremitted earnings		(3,608	)		-
Other		(1,917	)		(1,257	)
Total deferred tax liability		(16,891	)		(10,936	)
Net deferred tax asset	$	(1,011	)	$	4,786

Tax operating loss carryforwards totaled $5.2 million (gross) at December 31, 2020. These operating losses will expire as shown in the table below.

In assessing the realizability of our deferred tax assets, the Company has assessed whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. In making this determination, the Company considered taxable income in prior years, if carryback is permitted, the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies. The Company has a three-year cumulative loss at December 31, 2020 in the United States and certain foreign jurisdictions and has recorded a valuation allowance at December 31, 2020 of $17.0 million against deferred tax assets in those jurisdictions.

The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted on March 27, 2020 and includes tax relief provisions and incentives for businesses impacted by COVID-19. The CARES Act includes provisions relating to net operating loss carryback periods which have increased the effective tax rate by 72.0% as reflected through release in valuation allowances, rate differentials and the manufacturing deductions. The Company has $22.0 million in outstanding NOL carryback claims as of December 31, 2020 including the estimated carryback claim relating to the 2020 tax year, which is reflected in Prepaids and other current assets on the consolidated balance sheet. The Company expects to receive carryback claims by the end of 2021.

U.S. Tax Reform in 2017 eliminated the deferral of U.S. income tax on the historical unrepatriated earnings by imposing a one-time mandatory deemed repatriation tax on undistributed earnings. We have historically considered the majority of undistributed earnings of our foreign subsidiaries and equity investees to be indefinitely reinvested, and, accordingly, no deferred taxes had been provided on the indefinitely reinvested earnings. As of June 30, 2020, the Company reversed its indefinite reinvestment assertion. During 2020, we recorded a deferred foreign tax liability of $3.6 million, which is primarily related to estimated foreign withholding tax associated with repatriating all non-U.S. earnings back to the United States.

U.S. Tax Reform subjects a U.S. shareholder to tax on Global Intangible Low-Taxed Income (GILTI). We have elected to account for GILTI in the year that the tax is incurred as a period expense.

The Company evaluates uncertain tax positions for recognition and measurement in the consolidated financial statements. To recognize a tax position, the Company determines whether it is more likely than not that the tax positions will be sustained upon examination, including resolution of any related appeals or litigation, based on the technical merits of the position. A tax position that meets the more likely than not threshold is measured to determine the amount of benefit to be recognized in the consolidated financial statements. The amount of tax benefit recognized with respect to any tax position is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon settlement. The Company had an uncertain tax position of $18.7 million at December 31, 2020 due to uncertainty in tax positions taken in the U.S. and certain foreign tax jurisdictions. The tax years which remain subject to examination by major tax jurisdictions are the years ended December 31, 2015 through December 31, 2020.

A reconciliation of the beginning and ending amount of liabilities associated with uncertain tax positions is as follows:

	2020			2019		2018
	(In thousands)
Balance at beginning of year	$	18,665		$	18,648	$	18,323
Additions for tax positions related to the current year		3			-		-
Reductions for tax positions related to the prior year		(3	)		17		325
Balance at end of year	$	18,665		$	18,665	$	18,648

The amounts above exclude accrued interest and penalties of $2.1 million, $1.6 million and $1.1 million at December 31, 2020, 2019 and 2018 respectively. The Company classifies interest and penalties relating to uncertain tax positions within Tax expense(benefit) in the Consolidated Statements of Income (Loss).

It is reasonably possible that the Company's existing liabilities for unrecognized tax benefits may increase or decrease in the year ending December 31, 2019, primarily due to the progression of any audits and the expiration of statutes of limitation. However, the Company cannot reasonably estimate a range of potential changes in its existing liabilities for unrecognized tax benefits due to various uncertainties, such as the unresolved nature of any possible audits. As of December 31, 2020, if recognized, $7.3 million of the Company's unrecognized tax benefits would favorably impact the effective tax rate.

The Company received a net income tax refund of $18.2 million in 2020 and received a net income tax refund of $10.9 million and paid $3.8 million in income taxes in 2019 and 2018, respectively.