Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income (Loss) Before Income Taxes

For financial reporting purposes, income before income taxes includes the following components:

	Years Ended December 31,
(in millions)	2022		2021		2020
United States	$	8.5	$	12.8	$	40.9
Foreign	(4.1)		1.0		3.6
Income before income taxes	$	4.4	$	13.8	$	44.5

Provision (Benefit) for Income Tax

The provision (benefit) for income taxes consists of the following:

	Years Ended December 31,
(in millions)	2022		2021		2020
Current provision (benefit):
Federal	$	17.4	$	(0.4)	$	(14.2)
State	2.4		(0.7)		2.3
Foreign	2.3		0.3		1.8
Total current provision (benefit)	22.1		(0.8)		(10.1)
Deferred (benefit) provision:
Federal	(18.3)		(0.1)		12.3
State	(1.0)		1.1		(1.4)
Foreign	2.2		(2.3)		(2.3)
Total deferred (benefit) provision	(17.1)		(1.3)		8.6
Total provision (benefit):
Federal	(0.9)		(0.5)		(1.9)
State	1.4		0.4		0.9
Foreign	4.5		(2.0)		(0.5)
Total income tax provision (benefit)	$	5.0	$	(2.1)	$	(1.5)

Reconciliation of Provision for Income Taxes at Statutory Federal Income Tax Rate

A reconciliation of the provision (benefit) for income taxes at the statutory federal income tax rate to the amount provided is as follows:

	Years Ended December 31,
(in millions)	2022		2021		2020
Tax expense at the statutory federal income tax rate	$	0.9	$	2.9	$	9.3
State income tax, net of federal income tax	0.6		1.3		0.3
Research and development tax credits	(3.3)		(4.1)		(4.3)
FIN 48 impact	1.2		1.8		4.0
FIN 48 impact - liquidation of subsidiary	—		(0.7)		—
Change in foreign subsidiary net operating loss carryforward	—		4.4		(0.3)
Valuation allowance impact	6.0		(8.1)		(1.0)
Changes in tax rates	0.2		0.7		0.3
Effects of Cares Act - 2018 NOL carryback	—		—		(9.5)
Share-based compensation	0.4		0.4		0.3
Foreign-derived intangible income deduction	(0.9)		—		—
Other items	(0.1)		(0.7)		(0.6)
Total income tax provision (benefit)	$	5.0	$	(2.1)	$	(1.5)

Significant Components of Company's Deferred Tax Assets and Liabilities

Significant components of the Company's deferred tax assets and liabilities are as follows:

	December 31,
(in millions)	2022		2021
Deferred tax assets:
Amortization of research and experimental expenditures	$	18.4	$	—
Inventory reserves	4.7		3.7
Warranty reserves	2.2		2.0
Credit loss reserves	0.6		0.5
State tax loss carryforwards	11.6		11.9
Accrued vacation	1.6		1.4
Deferred compensation	1.1		1.4
Share-based compensation	4.4		2.0
Goodwill	1.8		2.0
Foreign net operating loss	7.2		4.4
Lease obligation	1.8		0.4
Employee & insurance accruals	1.0		0.8
Domestic credit carryforwards	1.5		1.5
Deferred revenue	1.7		1.3
Deferred payroll tax - CARES Act	—		1.1
Valuation allowances	(11.9)		(5.9)
Other	0.9		1.5
Total deferred tax assets	48.6		30.0
Deferred tax liabilities:
Property and equipment	13.6		13.0
Intangibles	2.7		1.1
Right-of-use assets	1.8		0.5
Post-retirement benefits	0.5		0.6
Total deferred tax liabilities	18.6		15.2
Total net deferred assets	$	30.0	$	14.8

Rollforward of Deferred Tax Assets Valuation Allowance

The following table represents a rollforward of the deferred tax asset valuation allowance for the years ended December 31, 2022, 2021 and 2020:

	Years Ended December 31,
(in millions)	2022		2021		2020
Allowance balance, beginning of year	$	5.9	$	14.0	$	14.6
Provision	6.0		0.6		1.5
Reversals	—		(8.1)		(1.5)
Other	—		(0.6)		(0.6)
Allowance balance, end of year	$	11.9	$	5.9	$	14.0

Reconciliation of Unrecognized Tax Benefit

A reconciliation of the beginning and ending unrecognized tax benefits excluding interest and penalties is as follows:

	Years Ended December 31,
(in millions)	2022		2021		2020
Balance, beginning of year	$	10.8	$	9.7	$	5.7
Additions for tax positions taken in current year	1.2		1.0		0.5
Additions for tax positions taken in prior period	—		0.8		3.5
Decreases related to sustained tax positions	—		(0.7)		—
Balance, end of year	$	12.0	$	10.8	$	9.7