Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes [Abstract]

Schedule Of Income Tax Expense

Note 10—Income Taxes
Income tax expense (benefit) based on income before income taxes consisted of the following:
			Year Ended December 31,
(in thousands)				2018		2017		2016
					(as adjusted)
	Current:
		U.S. Federal	$	(14,831)	$	85,633	$	(1,032)
		State and local		10,110		804		498
		Foreign		29,817		9,047		(2,379)
				25,096		95,484		(2,913)
	Deferred:
		U.S. Federal		(249)		8,337		5,261
		State and local		(550)		(213)		1,196
		Foreign		8,427		(702)		1,933
				7,628		7,422		8,390
			$	32,724	$	102,906	$	5,477

Schedule Of Income Before Income Taxes

Worldwide income (loss) before income taxes consisted of the following:
			Year Ended December 31,
(in thousands)			2018		2017		2016
				(as adjusted)
	United States	$	(23,645)	$	(14,984)	$	9,994
	Foreign		79,186		85,989		59,416
		$	55,541	$	71,005	$	69,410

Schedule Of Federal Statutory Income Tax Rate To Income Before Income Tax

Income tax expense differed from the amounts computed by applying the U.S. Federal statutory income tax rate to income before income taxes as a result of the following:

				Year Ended December 31,
(in thousands)				2018		2017		2016
					(as adjusted)
	Tax at statutory rate		$	11,664	$	24,852	$	24,294
	State taxes, net of federal tax effect			7,553		384		1,102
	Effect of foreign operations and tax incentives			(11,945)		(20,703)		(15,496)
	Change in valuation allowance			2,114		(203)		(1,152)
	Excess tax-benefits of stock-based compensation			(143)		(1,658)		—
	Provisional impact of U.S. Tax Reform			(4,353)		97,707		—
	Impact of cash repatriation			21,612		—		—
	GILTI			3,206		—		—
	Losses in foreign jurisdictions for which no benefit has
		been provided		1,423		106		2,106
	Change in uncertain tax benefits reserve			(317)		—		(8,270)
	Other			1,910		2,421		2,893
	Total income tax expense		$	32,724	$	102,906	$	5,477

Schedule Of Deferred Tax Assets And Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:

				December 31,
(in thousands)				2018			2017
					(as adjusted)
	Deferred tax assets:
		Carrying value of inventories	$	2,787		$	2,474
		Accrued liabilities and allowances deductible for tax purposes on a cash basis		6,108			6,387
		Goodwill		2,351			2,732
		Stock-based compensation		2,347			2,359
		Net operating loss carryforwards		20,028			22,096
		Tax credit carryforwards		1,923			2,007
		Other		4,373			5,924
				39,917			43,979
		Less: valuation allowance		(13,709)			(15,823)
		Net deferred tax assets		26,208			28,156
	Deferred tax liabilities:
		Plant and equipment, due to differences in depreciation		(7,617)			(8,543)
		Intangible assets, due to differences in amortization		(18,593)			(20,891)
		ASC 606 revenue recognition		(1,640)			(1,667)
		Foreign withholding tax		(9,212)			-
		Other		(991)			(1,715)
		Gross deferred tax liability		(38,053)			(32,816)
		Net deferred tax liability	$	(11,845)		$	(4,660)
	The net deferred tax liability is classified as follows:
		Long-term asset	$	2,478		$	4,034
		Long-term liability		(14,323)			(8,694)
		Total	$	(11,845)		$	(4,660)

Schedule Of Tax Incentives

The net impact of these tax incentives was to lower income tax expense for 2018, 2017, and 2016 by approximately $7.9 million (approximately $0.17 per diluted share), $7.2 million (approximately $0.15 per diluted share) and $6.7 million (approximately $0.13 per diluted share), respectively, as follows:

			Year Ended December 31,
(in thousands)			2018		2017		2016
	China	$	1,884	$	1,398	$	1,302
	Malaysia		3,287		4,295		2,346
	Thailand		2,715		1,545		3,068
		$	7,886	$	7,238	$	6,716

Schedule Of Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefits

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

				December 31,
(in thousands)				2018		2017		2016
	Balance as of January 1		$	708	$	7,791	$	13,114
	Additions related to current year tax positions			137		220		—
	Decreases as a result of a lapse of applicable statute of
		limitations in current year		—		—		(5,079)
	Additions related to prior year tax positions			—		894		89
	Decreases related to prior year tax positions			(532)		(8,197)		(333)
	Balance as of December 31		$	313	$	708	$	7,791