Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Net Income (Loss) Before Income Taxes

The components of net income (loss) before income taxes were as follows:


		Year Ended December 31,
		‎2025‎				‎2024‎				‎2023‎
Domestic operations		$	19,134			$	(58,287	)		$	(78,014	)
Foreign operations		‎43,180‎				‎5,287‎				‎8,684‎
Net income (loss) before income taxes		$	62,314			$	(53,000	)		$	(69,330	)

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense ‎‎(benefit)‎ were as follows:‎

          
         Year Ended December 31,‎

         Current:‎

Federal

$

17,949

$

18,210

$

5,878

         Foreign

         ‎15,008‎

         ‎5,971‎

         ‎1,560‎

         Total current

         ‎36,039‎

         ‎26,786‎

         ‎8,291‎

         Deferred:‎

         Foreign

         ‎(6,851‎

         )

         ‎(2,352‎

         )

         ‎360‎

         Total deferred

         ‎(19,714

         )‎

         ‎(24,314

         )

         ‎(17,703‎

         )

Income tax expense (benefit)‎

$

16,325

$

2,472

$

(9,412

)

Schedule of Reconciliation of Taxes at Federal Statutory Rate to Provision for Income Taxes

As described in “Note 2. Summary of Significant Accounting Policies”, upon adoption of ASU 2023-09, the reconciliation of taxes at the federal statutory rate to the provision for income taxes for the year ended December 31, 2025, was as follows:


		Year Ended December 31, 2025
		Amount				Rate
U.S. Federal Statutory Tax Rate		$	13,086				21.0	%
State and Local Income Taxes, Net of Federal Income Tax Effect(1)			(1,016	)			(1.6	%)
Foreign Tax Effects
United Kingdom			946				1.5	%
Canada
State and Local Income Taxes			1,243				2.0	%
Other			(237	)			(0.4	%)
Germany
Statutory tax rate differences between Germany and United States			(742	)			(1.2	%)
State and Local Income Taxes			1,975				3.2	%
Rate Change(2)			(4,820	)			(7.7	%)
Other			493				0.8	%
Other Foreign Jurisdictions			51				0.1	%
Effect of Cross-Border Tax Laws
U.S. impact of double taxation of foreign branches			(694	)			(1.1	%)
Other			(278	)			(0.4	%)
Tax Credits
Research and development tax credits			(1,500	)			(2.4	%)
Changes in Valuation Allowances			7,782				12.5	%
Nontaxable or Nondeductible items
Effect of flow through entity			(2,943	)			(4.7	%)
Share-based compensation			5,178				8.3	%
Other			(66	)			(0.1	%)
Other Adjustments
Revaluation of tax assets and liabilities			(2,133	)			(3.4	%)
Effective Tax Rate			16,325				26.2	%

(1)

‎State taxes in California, Massachusetts, Florida, Connecticut, and New Hampshire made up the majority ‎‎‎(greater than 50%) of the tax effect in this category.‎

(2)

‎State taxes in California, Massachusetts, Florida, Connecticut, and New Hampshire made up the majority ‎‎‎(greater than 50%) of the tax effect in this category.‎

The following table details how income tax expense (benefit) differs from that computed at the federal statutory corporate tax rate, prior to adoption of ASU 2023-09, for the years ended December 31, 2024 and 2023:


		Year Ended December 31,
		2024				2023
Income tax at federal statutory rate		$	(11,089	)		$	(14,559	)
Increases (decreases) in tax resulting from:
Foreign rate differential			2,069				96
Global intangible low-taxed income (“GILTI”)			1,950				1,685
State, net of federal benefit			(2,703	)			(5,026	)
Effect of flow-through entity			(238	)			2,707
U.S. impact of double taxation on foreign branches			549				—
Foreign tax credit			(2,407	)			(854	)
Other			50				896
Change in federal valuation allowance			14,291				5,643
Income tax expense (benefit)		$	2,472			$	(9,412	)

Schedule of Cash Paid for Income Taxes, Net of Refunds

As described in “Note 2. Summary of Significant Accounting Policies”, upon adoption of ASU 2023-09, cash paid for income taxes, net of refunds, during the year ended December 31, 2025, was as follows:


		Year Ended December 31, 2025
Federal		$	30,815
States			7,936
United Kingdom			3,881
Canada			3,725
Other Countries			1,023
Total cash paid for income taxes, net of refunds		$	47,380

Schedule of Significant Components of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities were as follows:


		December 31,
		2025				2024
Deferred tax assets:
Net operating loss		$	17,450			$	15,170
Disallowed interest			116,559				97,593
Operating lease liabilities			14,029				12,263
Capitalized research and experimental cost			4,540				13,019
Deferred employee benefits			20,373				25,578
Inventories			15,154				17,719
Environmental obligation			13,428				13,773
U.S. branch foreign tax credit			6,814				6,441
Other assets			14,430				14,123
Total deferred tax assets			222,777				215,679
Deferred tax liabilities:
Property, plant and equipment, net			(46,521	)			(38,735	)
Operating lease right-of-use assets, net			(14,483	)			(12,572	)
Intangible assets			(481,629	)			(486,611	)
Goodwill			(26,029	)			(16,108	)
Other liabilities			(2,150	)			(1,019	)
Total deferred tax liabilities			(570,812	)			(555,045	)
Valuation allowance			(36,051	)			(27,388	)
Net deferred tax liability		$	(384,086	)		$	(366,754	)

Schedule of Change in the Liability

The change in the liability is explained as follows:


	Amount
Beginning balance as of January 1, 2024	$	—
Additions for prior year tax positions in connection with the Arxis Businesses Transaction	‎2,267‎
Lapse of statute of limitations	‎(533)‎
Ending balance as of December 31, 2024(1)‎	$	1,734
Additions	‎60‎
Lapse of statute of limitations	‎(467		)‎
Ending balance as of December 31, 2025(1)	$	1,327

(1)

Including interest and penalties of $396 and $533 for the years ended December 31, 2025 and 2024, ‎respectively.‎