Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Provision for Income Taxes

The provision for income taxes consists of the following:

	For the years ended December 31,
In thousands	2019			2018			2017
Current:
Federal	$	3,505		$	3,739		$	11,526
State	381			498			956
Foreign	4,479			3,788			2,425
Total Current	$	8,365		$	8,025		$	14,907
Deferred:
Federal	$	(12,481	)	$	2,646		$	(2,472	)
State	(1,442		)	380			256
Foreign	(858		)	(2,598		)	(717		)
Total Deferred	(14,781		)	428			(2,933		)
Provision (Benefit) for income taxes	$	(6,416	)	$	8,453		$	11,974

Schedule of Reconciliation of the Difference between the Actual Provisions for Income Taxes

The following is a reconciliation of the difference between the actual provision for income taxes and the provision computed by applying the federal statutory tax rate on earnings:

	For the years ended December 31,
	2019		2018		2017
Statutory federal income tax rate	21.0	%	21.0	%	35.0	%
State income taxes, net of federal benefit	2.7		1.6		1.6
Valuation allowances for deferred tax assets, including state	(4.4	)	(1.3	)	0.1
Research and development credits	0.7		(1.3	)	(1.0	)
Capitalized transaction costs	—		0.6		—
Domestic production activities deduction	—		—		(1.8	)
Stock based compensation	(0.1	)	(0.7	)	(4.4	)
Goodwill Impairment	(19.6	)	—		—
Foreign income taxed at lower rates	2.4		(1.6	)	(2.8	)
Reserves for uncertain tax positions	0.3		—		(1.7	)
Repatriation of foreign undistributed earnings	—		1.6		1.3
Revaluation of deferred tax liabilities due to federal rate change	—		—		(7.3	)
Pension plan settlement	5.9		—		—
Other	(0.6	)	(0.4	)	0.5
Effective income tax rate	8.3	%	19.5	%	19.5	%

Schedule of Net Current and Net Long-Term Deferred Tax Assets and Liabilities by Tax Jurisdiction

The following schedule presents net current and net long-term deferred tax assets and liabilities by tax jurisdiction as of December 31, 2019 and 2018:

	2019				2018
	Deferred Tax Assets				Deferred Tax Assets
In thousands	Current		Long-term		Current		Long-term
Federal	$	—	$	—	$	—	$	—
State	—		—		—		—
Foreign	—		1,933		—		2,055
Totals	$	—	$	1,933	$	—	$	2,055

	2019				2018
	Deferred Tax Liabilities				Deferred Tax Liabilities
In thousands	Current		Long-term		Current		Long-term
Federal	$	—	$	26,992	$	—	$	30,193
State	—		2,902		—		3,728
Foreign	—		4,667		—		5,344
Totals	$	—	$	34,561	$	—	$	39,265

Schedule of Components of Deferred Tax Asset and Liability

Net deferred tax assets (liabilities) consisted of the following as of December 31, 2019 and 2018:

	December 31,
In thousands	2019			2018
Deferred tax assets:
Accounts receivable	$	377		$	172
Financial Hedging Instruments	1,491			585
Interest Expense Carryovers	2,371			463
Inventories	1,845			520
Net operating loss carryforwards	8,478			6,095
Operating lease	6,001			—
Other accrued liabilities	5,905			2,378
Pension	4,274			5,181
Tax Credits	2,015			1,846
Total deferred tax assets	32,757			17,240
Deferred tax liabilities:
Intangible assets	21,990			25,133
Right of use assets	6,001			—
Property, plant and equipment	28,177			23,353
Total deferred tax liabilities	56,168			48,486
Valuation allowance	9,217			5,964
Net deferred tax liabilities	$	(32,628	)	$	(37,210	)

Schedule of Income from Continuing Operations before Income Taxes

For the years ended December 31, 2019, 2018 and 2017, (loss) income before income taxes was derived from the following sources:

	For the years ended December 31,
In thousands	2019			2018		2017
United States	$	(73,539	)	$	33,928	$	54,212
Foreign	(3,538		)	9,337		7,107
Total income before income taxes	$	(77,077	)	$	43,265	$	61,319

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

In thousands	2019			2018
Unrecognized tax benefits at beginning of year	$	3,563		$	2,526
Decreases relating to positions taken in prior periods	(36		)	(298		)
Increases relating to positions taken in prior periods	—			—
Increases relating to current period	—			1,584
Decreases due to settlements with tax authorities	—			(233		)
Decreases due to lapse of statute of limitations	(315		)	(16		)
Unrecognized tax benefits at end of year	$	3,212		$	3,563