v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Summary of Pre-Tax Income (Loss)
Pre-tax income (loss) consisted of the following for the years ended December 31:
202520242023
Domestic $(34,858)$(20,095)$(1,017)
Foreign19,121 11,854 29,447 
Total$(15,737)$(8,241)$28,430 
Summary of Reconciliation of Income Taxes Computed at Statutory Rate
The following table reconciles the income tax provision with the amount calculated using the 21.0% U.S. federal statutory rate applied to pretax income, reflecting the adoption of ASU 2023-09:
Year Ended December 31, 2025
Amount
Percent
U.S. Federal Statutory Tax Rate$(3,305)21.0 %
State and Local Income Tax, Net of Federal
21 (0.1)%
Foreign Tax Effects
 China
  Statutory Tax Rate Difference
153 (1.0)%
  Research and Development Credit(86)0.6 %
  Withholding Tax550 (3.5)%
  Other268 (1.7)%
 India
  Withholding Tax147 (0.9)%
  Other77 (0.5)%
 Mexico
  Statutory Tax Rate Difference
1,271 (8.1)%
  Other Adjustments, Nontaxable or Nondeductible Items
(1,224)7.8 %
 United Kingdom
  Other Adjustments
(324)2.1 %
 Other Foreign Jurisdictions274 (1.7)%
Tax Credits
 Research and Development Credit(731)4.7 %
Changes in Valuation Allowances7,310 (46.5)%
Nontaxable or Nondeductible Items
 Executive Compensation Limit374 (2.4)%
 Other Nontaxable or Nondeductible Items152 (1.0)%
 Other14 (0.1)%
Changes in Unrecognized Tax Benefits45 (0.3)%
Other Adjustments(246)1.6 %
Provision (benefit) for income taxes$4,740 (30.1)%
A reconciliation of income taxes computed at the statutory rates to the reported income tax provision for the years ended December 31 follows:
20242023
Federal provision (benefit) at statutory rate $(1,730)$5,970 
U.S./Foreign tax rate differential604 828 
Foreign non-deductible expenses376 (14)
Foreign tax provision311 821 
State taxes, net of federal benefit (337)(1)
State tax rate change, net of federal benefit72 (201)
Change in uncertain tax positions(343)209 
Change in valuation allowance28,769 (21,750)
Tax credits(1,738)(2,284)
Share-based compensation457 (30)
Executive compensation (IRC 162m)38 226 
Repatriation of foreign earnings1,237 435 
GILTI, net of related foreign tax credit— 142 
Other(223)446 
Provision (benefit) for income taxes$27,493 $(15,203)
Summary of Provision (Benefit) for Income Taxes
The provision (benefit) for income taxes for the years ended December 31 follows:
202520242023
CurrentDeferredTotalCurrentDeferredTotalCurrentDeferredTotal
Federal $424 $— $424 $(289)$19,963 $19,674 $(2,157)$(18,166)$(20,323)
State and local 27 — 27 56 3,592 3,648 433 (3,355)(2,922)
Foreign3,784 505 4,289 3,685 486 4,171 7,220 822 8,042 
Total$4,235 $505 $4,740 $3,452 $24,041 $27,493 $5,496 $(20,699)$(15,203)
Summary of Deferred Income Taxes Assets and Liabilities
A summary of deferred income tax assets and liabilities as of December 31 follows:
20252024
Noncurrent deferred tax assets:
Amortization and fixed assets$5,271 $6,106 
Inventories2,224 2,893 
Pension obligations3,010 2,467 
Warranty obligations193 226 
Accrued benefits739 792 
Operating leases8,878 9,486 
Tax credit carryforwards9,347 8,612 
Net operating loss carryforwards23,032 18,233 
Other temporary differences12,233 8,883 
Total noncurrent deferred tax assets$64,927 $57,698 
Valuation allowance(41,777)(35,934)
Net noncurrent deferred tax assets$23,150 $21,764 
Noncurrent deferred tax liabilities:
Amortization and fixed assets$(1,104)$(1,132)
Inventories— (59)
Operating leases(9,615)(9,242)
Other temporary differences(1,228)(571)
Total noncurrent tax liabilities(11,947)(11,004)
Net noncurrent deferred tax liabilities$(11,947)$(11,004)
Total net deferred tax asset$11,203 $10,760 
Deferred taxes are reflected in the Consolidated Balance Sheet as follows:
Net non-current deferred tax assets$11,349 $11,084 
Non-current deferred tax liabilities (included in Other long-term liabilities)$(146)$(324)
Total net deferred tax asset$11,203 $10,760 
Summary of Valuation Allowance
Activity for the years ended December 31 is as follows (in thousands):
202520242023
Balance - Beginning of the year$35,934 $9,340 $31,090 
Provisions5,843 26,594 297 
Utilizations and reversals— — (22,047)
Balance - End of the year$41,777 $35,934 $9,340 
Summary of Net Income Tax Payments
Net income tax payments after the prospective adoption of ASU 2023-09, as described in Note 1, consisted of the following:
2025
United States - federal
$(2,275)
United States - state and local
(774)
International:
    Czech Republic
1,165 
 China1,159 
    Mexico
503 
    India
351 
    Thailand
247 
 Other foreign
(112)
Total income taxes paid, net of refunds
$264 
Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits (including interest and penalties) at December 31 follows:
202520242023
Balance - Beginning of the year $941 $1,338 $1,089 
Gross increase - tax positions in prior periods 154 154 60 
Gross decreases - tax positions in prior periods (68)— — 
Gross increases - current period tax positions — — 149 
Lapse of statute of limitations— (571)— 
Currency translation adjustment(40)20 40 
Balance - End of the year $987 $941 $1,338