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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Components of Provision for Income Taxes The components of the provision for income taxes reflected on the consolidated statements of operations are set forth below:
For the Years Ended December 31,
202220212020
(in thousands)
Current taxes:
U.S. federal$385 $(2,664)$(2,794)
State and local485 1,073 (306)
Foreign11,430 4,482 11,535 
Total current tax expense12,300 2,891 8,435 
Deferred taxes:
U.S. federal(8,000)11,678 1,245 
State and local(2,175)1,177 264 
Foreign(298)1,053 (1,517)
Total deferred tax (benefit) expense(10,473)13,908 (8)
Total tax expense$1,827 $16,799 $8,427 
Significant Components of Net Deferred Tax Assets and Liabilities Significant components of the Company’s net deferred tax assets and liabilities are set forth below:
As of December 31,
20222021
(in thousands)
Deferred tax assets:
Compensation and benefits$16,798 $17,290 
Depreciation and amortization581 — 
Cumulative translation adjustment14,096 11,679 
Operating loss carryforwards9,146 4,900 
Capital loss carryforwards2,561 2,503 
Lease asset26,963 22,763 
Other financial accruals7,612 1,947 
Valuation allowances(2,561)(2,503)
     Total deferred tax assets75,196 58,579 
20222021
(in thousands)
Deferred tax liabilities:
Depreciation and amortization3,934 4,126 
Lease liability22,089 18,537 
Other financial accruals10,731 9,082 
     Total deferred tax liabilities36,754 31,745 
Net deferred tax asset$38,442 $26,834 
Reconciliation of Statutory U.S. Federal Income Tax Rate to Company's Effective Income Tax Rate A reconciliation of the statutory U.S. federal income tax rate of 21% to the Company’s effective income tax rates is set forth below:
For the Years Ended December 31,
202220212020
U.S. statutory tax rate21.0 %21.0 %21.0 %
Increase related to state and local taxes, net of U.S. income tax benefit(25.8)3.0 (3.0)
Benefits and taxes related to foreign operations24.8 3.7 (7.3)
RSU vesting and dividend discrete accounting charge or benefit(8.8)1.4 13.3 
Charge related to non-deductible compensation19.8 1.3 2.4 
Tax Benefits Related to CARES Act— (1.7)(4.6)
Federal Provision to Return Adjustment4.8 (0.3)(1.1)
Other— — 0.5 
Effective income tax rate35.8 %28.4 %21.2 %