Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Components Of Income Before Income Taxes

(In thousands)	2020		2019		2018
Components of income before income taxes
U.S. income	$	104,682	$	126,552	$	85,234
Non-U.S. income	58,421		57,183		77,101
Income before income taxes	$	163,103	$	183,735	$	162,335
Provision for income taxes
Current
Federal	$	23,587	$	13,770	$	13,574
State	4,896		5,436		4,265
Non-U.S.	16,780		25,608		23,446
Total current provision	$	45,263	$	44,814	$	41,285
Deferred
Federal	$	(1,493)	$	5,744	$	291
State	(727)		1,346		(1,604)
Non-U.S.	(1,102)		(5,818)		(2,752)
Total deferred provision (benefit)	(3,322)		1,272		(4,065)
Provision for income taxes	$	41,941	$	46,086	$	37,220

Reconciliation Of U.S. Federal Income Tax Rates To Effective Tax Rate

Reconciliation of the U.S. federal income tax rates to our effective tax rate:

	2020		2019		2018
U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
Nondeductible compensation	3.4	%	1.9	%	1.0	%
Taxes on non-U.S. income	2.6	%	(0.5)	%	0.4	%
State income taxes—U.S.	2.0	%	2.9	%	1.3	%
Valuation allowances	0.8	%	0.4	%	0.5	%
Taxes on non-U.S. income - U.S., Canadian & European reorganization	0.7	%	0.3	%	1.1	%
Foreign exchange on entity closures	—	%	1.8	%	—	%
U.S. tax reform	—	%	—	%	1.6	%
Manufacturing deduction credit	—	%	—	%	(1.0)	%
Employee share-based payments	(3.9)	%	(2.6)	%	(1.6)	%
Research and development credit	(1.2)	%	(0.6)	%	(0.9)	%
Other	0.3	%	0.5	%	(0.5)	%
Effective income tax rate	25.7	%	25.1	%	22.9	%

Components of Deferred Tax Assets and Liabilities

Components of deferred tax assets and liabilities:

	December 31,
(In thousands)	2020		2019
Deferred tax assets
Product liability	$	33,689	$	29,405
Capitalized research and development	22,915		17,886
Employee benefits	10,539		12,009
Net operating losses and tax credit carryforwards	6,310		6,026
Accrued expenses and other reserves	5,195		4,384
Share-based compensation	3,588		5,396
Other	5,287		3,828
Total deferred tax assets	87,523		78,934
Valuation allowances	(7,188)		(5,937)
Net deferred tax assets	80,335		72,997
Deferred tax liabilities
Goodwill and intangibles	(39,040)		(35,999)
Property, plant and equipment	(14,649)		(11,714)
Other	(1,897)		(2,475)
Total deferred tax liabilities	(55,586)		(50,188)
Net deferred taxes	$	24,749	$	22,809

Schedule Of Reconciliation Of Change In Tax Liability For Unrecognized Tax Benefits

A reconciliation of the change in the tax liability for unrecognized tax benefits for the years ended December 31, 2020 and 2019 is as follows:

(In thousands)	2020		2019
Beginning balance	$	5,119	$	16,155
Adjustments for tax positions related to the current year	425		—
Adjustments for tax positions related to prior years	2,950		(7,740)
Statute expiration	(402)		(3,296)
Ending balance	$	8,092	$	5,119