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Income Taxes (Tables)
9 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
Schedule of Income Tax Expense

Income tax expense consists of the following:

 

 

 

Nine Months Ended
September 30,

 

(in thousands)

 

2022

 

 

2021

 

Current:

 

 

 

 

 

 

U.S. Federal

 

$

(9

)

 

$

(426

)

State and local

 

 

609

 

 

 

528

 

Foreign

 

 

14,715

 

 

 

8,734

 

Deferred:

 

 

(4,210

)

 

 

(2,860

)

 

 

$

11,105

 

 

$

5,976

 

Schedule of Tax Incentives The net impact of these tax incentives was to lower foreign income tax expense for the nine months ended September 30, 2022 and 2021 by approximately $4.5 million (approximately $0.13 per diluted share), and $3.4 million (approximately $0.09 per diluted share), as follows:

 

 

 

Nine Months Ended
September 30,

 

(in thousands)

 

2022

 

 

2021

 

China

 

$

581

 

 

$

 

Malaysia

 

 

 

 

 

1,259

 

Thailand

 

 

3,924

 

 

 

2,121

 

 

 

$

4,505

 

 

$

3,380