Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

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)				2019		2018		2017
	Current:
		U.S. Federal	$	(1,697)	$	(14,831)	$	85,633
		State and local		(3,567)		10,110		804
		Foreign		11,474		29,817		9,047
				6,210		25,096		95,484
	Deferred:
		U.S. Federal		1,815		(249)		8,337
		State and local		1,409		(550)		(213)
		Foreign		(5,590)		8,427		(702)
				(2,366)		7,628		7,422
			$	3,844	$	32,724	$	102,906

Schedule Of Income Before Income Taxes

Worldwide income (loss) before income taxes consisted of the following:
			Year Ended December 31,
(in thousands)			2019		2018		2017
	United States	$	(13,756)	$	(23,645)	$	(14,984)
	Foreign		41,025		79,186		85,989
		$	27,269	$	55,541	$	71,005

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)				2019		2018		2017
	Tax at statutory rate		$	5,727	$	11,664	$	24,852
	State taxes, net of federal tax effect			(1,705)		7,553		384
	Effect of foreign operations and tax incentives			(5,870)		(11,945)		(20,703)
	Change in valuation allowance			(2,283)		2,114		(203)
	Stock-based compensation			118		(143)		(1,658)
	Provisional impact of U.S. Tax Reform			—		(4,353)		97,707
	Impact of cash repatriation			—		21,612		—
	GILTI			955		3,206		—
	Losses in foreign jurisdictions for which no benefit has
		been provided		4,379		1,423		106
	Change in uncertain tax benefits reserve			200		(317)		—
	Other			2,323		1,910		2,421
	Total income tax expense		$	3,844	$	32,724	$	102,906

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)				2019		2018
	Deferred tax assets:
		Carrying value of inventories	$	3,212	$	2,787
		Accrued liabilities and allowances deductible for tax purposes on a cash basis		8,945		6,108
		Goodwill		1,976		2,351
		Stock-based compensation		2,500		2,347
		Operating right-of-use lease liabilities		19,087		—
		Net operating loss carryforwards		19,493		20,028
		Tax credit carryforwards		2,421		1,923
		Other		5,148		4,373
				62,782		39,917
		Less: valuation allowance		(15,992)		(13,709)
		Net deferred tax assets		46,790		26,208
	Deferred tax liabilities:
		Plant and equipment, due to differences in depreciation		(10,428)		(7,617)
		Operating right-of-use lease assets		(18,826)		—
		Intangible assets, due to differences in amortization		(16,302)		(18,593)
		Foreign withholding tax		(7,181)		(9,212)
		Other		(2,283)		(2,631)
		Gross deferred tax liability		(55,020)		(38,053)
		Net deferred tax liability	$	(8,230)	$	(11,845)
	The net deferred tax liability is classified as follows:
		Long-term asset	$	5,274	$	2,478
		Long-term liability		(13,504)		(14,323)
		Total	$	(8,230)	$	(11,845)

Schedule Of Tax Incentives

The net impact of these tax incentives was to lower income tax expense for 2019, 2018, and 2017 by approximately $5.0 million (approximately $0.13 per diluted share), $7.9 million (approximately $0.17 per diluted share) and $7.2 million (approximately $0.15 per diluted share), respectively, as follows:

			Year Ended December 31,
(in thousands)			2019		2018		2017
	China	$	—	$	1,884	$	1,398
	Malaysia		3,010		3,287		4,295
	Thailand		2,025		2,715		1,545
		$	5,035	$	7,886	$	7,238

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

			December 31,
(in thousands)			2019		2018		2017
	Balance as of January 1	$	313	$	708	$	7,791
	Additions related to current year tax positions		—		137		220
	Additions related to prior year tax positions		200		—		894
	Decreases related to prior year tax positions		—		(532)		(8,197)
	Balance as of December 31	$	513	$	313	$	708