Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of income (loss) before income taxes

Loss before income taxes consists of the following components:

(in thousands)	Year Ended December 31, 2020		Year Ended December 31, 2019		Year Ended December 31, 2018
Domestic	$	(26,460)	$	(72,293)	$	(32,982)
Foreign	4,870		(6,360)		4,582
Total	$	(21,590)	$	(78,653)	$	(28,400)

Schedule of significant components of income taxes

Significant components of income taxes are as follows:

(in thousands)	Year Ended December 31, 2020		Year Ended December 31, 2019		Year Ended December 31, 2018
Currently payable:
Federal	$	377	$	(296)	$	(631)
State and local	4		37		36
Foreign	1,744		4,747		1,281
Total currently payable	2,125		4,488		686
Deferred:
Federal	27,705		(23,358)		(2,404)
State and local	305		(571)		(66)
Foreign	1,241		(5,059)		3,624
Total deferred	29,251		(28,988)		1,154
Provision (benefit) for income taxes	$	31,376	$	(24,500)	$	1,840

Schedule of reconciliation of income tax expense at the U.S. Federal statutory income tax rate to actual income tax provision

A reconciliation of income tax expense at the U.S. Federal statutory income tax rate to actual income tax provision (benefit) is as follows: 

(in thousands)	Year Ended December 31, 2020		Year Ended December 31, 2019		Year Ended December 31, 2018
Tax at statutory rate	$	(4,534)	$	(16,517)	$	(5,962)
State income taxes, net of federal tax benefit	364		(531)		(54)
Effect of foreign items	1,502		1,004		834
Valuation allowance and unbenefited losses	33,478		(10,654)		6,018
Deferred tax rate changes	71		281		240
Transaction costs	(131)		671		531
Tax incentives	(311)		(56)		(91)
Disallowed foreign exchange loss	1,746		573		—
Warrants	—		—		—
Other	(809)		729		324
Provision (benefit) for income taxes	$	31,376	$	(24,500)	$	1,840

Schedule of significant components of the Company's deferred tax assets and liabilities

Significant components of the Company’s deferred tax assets and liabilities at December 31, 2020 and December 31, 2019 are as follows: 

(in thousands)	December 31, 2020		December 31, 2019
Deferred tax assets:
Pension and other retiree obligations	$	323	$	91
Inventory	482		438
Other accruals and reserves	5,020		4,580
Loss and credit carryforwards	39,172		32,020
Interest expense deduction limitation carryforward	8,147		7,767
Investments	2,137		2,170
Right-of-use asset	1,410		1,505
Other	2,326		—
Valuation allowance	(55,996)		(19,587)
Deferred tax assets	$	3,021	$	28,984
Deferred tax liabilities:
Intangible assets other than goodwill	(24,404)		(23,953)
Property, plant and equipment	(1,315)		(1,964)
Unrealized foreign currency gains	(3,862)		—
Lease liability	(1,575)		(1,571)
Other	—		(396)
Deferred tax liabilities	(31,156)		(27,884)
Net deferred tax (liabilities) assets	$	(28,135)	$	1,100

Summary of unrecognized tax benefits

(in thousands)	Year Ended December 31, 2020		Year Ended December 31, 2019		Year Ended December 31, 2018
Beginning Balance	$	2,670	$	1,879	$	2,884
Additions of tax positions of the current year	—		1,725		393
Additions to tax positions of the prior years	209		88		—
Reductions of tax positions of the prior years	(1,236)		—		(872)
Reductions related to prior tax positions due to foreign currency	(633)		(862)		(525)
Expiration of statutes of limitations	(151)		(160)		(1)
Ending Balance	$	859	$	2,670	$	1,879