Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The table below sets forth our income before taxes for the twelve months ended December 31:

(Loss) income before income taxes	2024			2023		2022
U.S.	$	(46,195	)	$	172,781	$	221,288
Foreign		108,877			105,152		174,652
Total	$	62,682		$	277,933	$	395,940

The table below sets forth the components of our income tax provision (benefit) for the twelve months ended December 31:

	2024			2023			2022
Current tax provision
Federal	$	1,684		$	27,028		$	46,368
Foreign		41,052			34,408			37,598
State		123			54			56
		42,859			61,490			84,022
Deferred tax provision (benefit)
Federal		(7,862	)		(8,273	)		(6,486	)
Foreign		(13,867	)		(10,463	)		(25,537	)
State		-			(5	)		(8	)
		(21,729	)		(18,741	)		(32,031	)
Liability for unrecognized tax benefits		(9,290	)		4,536			4,694
Total income tax provision	$	11,840		$	47,285		$	56,685

Schedule of Effective Income Tax Rate Reconciliation

The table below sets forth a reconciliation between the effective tax rate and the statutory tax rates for the twelve months ended December 31:

	2024						2023						2022
				Percent						Percent						Percent
				of pretax						of pretax						of pretax
	Amount			earnings*			Amount			earnings*			Amount			earnings*
Federal tax	$	13,163			21.0		$	58,366			21.0		$	83,147			21.0
State income taxes, net of federal tax    provision		48			-			49			-			33			-
Foreign income taxed at different tax rates		5,654			9.0			834			0.3			(6,527	)		(1.6	)
U.S. tax impact of foreign operations		4,917			7.8			(14,778	)		(5.3	)		(7,369	)		(1.9	)
Foreign withholding taxes		(1,642	)		(2.6	)		5,751			2.1			(12,441	)		(3.1	)
Research and development		(4,195	)		(6.7	)		(5,497	)		(2.0	)		(5,865	)		(1.5	)
Liability for unrecognized tax benefits		(9,290	)		(14.8	)		4,536			1.6			4,694			1.2
Valuation allowance		(2,970	)		(4.7	)		2,109			0.8			(1,986	)		(0.5	)
Employee stock-based compensation		1,284			2.1			627			0.2			1,784			0.4
Statutory tax rate change		1,616			2.6			341			0.1			3			-
Other		3,255			5.2			(5,053	)		(1.8	)		1,212			0.3
Income tax provision	$	11,840			18.9		$	47,285			17.0		$	56,685			14.3

* The sum of the amounts in the table may not equal to the effective tax rate due to rounding.

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible

In accordance with the provisions related to accounting for uncertainty in income taxes, we recognize the benefit of a tax position if the position is “more likely than not” to prevail upon examination by the relevant tax authority. The table below sets forth a reconciliation of the beginning and ending amount of unrecognized tax benefits:

	2024			2023			2022
Balance at January 1,	$	48,838		$	48,072		$	43,378
Additions based on tax positions related to the    current year		4,955			11,370			10,022
Additions for prior year tax positions		6,900			110			75
Reductions for prior year tax positions		(16,302	)		(10,714	)		(5,403	)
Balance at December 31,	$	44,391		$	48,838		$	48,072

Schedule of Deferred Tax Assets and Liabilities

The table below sets forth our deferred tax assets and liabilities as of December 31:

	2024			2023
Deferred tax assets
Inventory cost	$	30,128		$	32,682
Accrued expenses and accounts receivable		6,511			6,120
Research and development tax credits		11,769			9,613
Net operating loss carryforwards		47,386			43,616
Lease obligations		3,371			3,042
Accrued pension		1,882			3,164
Share based compensation and others		11,295			21,754
		112,342			119,991
Valuation allowances		(22,101	)		(25,836	)
Total deferred tax assets, non-current		90,241			94,155
Deferred tax liabilities
Plant, equipment and intangible assets		(4,773	)		(8,003	)
Right of use assets		(6,625	)		(6,358	)
Outside basis differences and others		(14,077	)		(28,989	)
Total deferred tax liabilities, non-current		(25,475	)		(43,350	)
Net deferred tax assets	$	64,766		$	50,805