Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.10.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Components of Income Tax Benefit (Provision) The benefit (provision) for incomes taxes consists of the following:
 
For the years ended December 31,
(In thousands)
2018
 
2017
 
2016
Current
 
 
 
 
 
Federal
$

 
$
2,398

 
$

State
6,318

 
(1,737
)
 
(2,931
)
Foreign
(2,738
)
 
(3,424
)
 
(2,438
)
 
3,580

 
(2,763
)
 
(5,369
)
Deferred
 
 
 
 
 
Federal
2,045

 
(10,759
)
 
25,739

State
5,673

 
(2,738
)
 
10,657

Foreign
27,428

 
(2,595
)
 
25,088

 
35,146

 
(16,092
)
 
61,484

Total, net
$
38,726

 
$
(18,855
)
 
$
56,115

Components of Deferred Income Tax Assets and Liabilities Deferred income tax assets and liabilities as of December 31, 2018 and 2017 are comprised of the following:
(In thousands)
December 31, 2018
 
December 31, 2017
Deferred income tax assets:
 
 
 
Federal net operating loss
$
101,662

 
$
79,356

State net operating loss
59,126

 
46,571

Foreign net operating loss
34,407

 
35,710

Research and development expense
2,893

 
4,038

Tax credits
21,669

 
20,040

Stock options
30,430

 
28,830

Accruals
6,294

 
5,719

Equity investments
12,904

 
8,454

Bad debts
414

 
20,302

Lease liability
1,370

 
2,205

Foreign credits
10,837

 
11,113

Equity securities
2,447

 
2,406

Other
11,668

 
17,448

Deferred income tax assets
296,121

 
282,192

Deferred income tax liabilities:
 
 
 
Intangible assets
(250,640
)
 
(280,962
)
Fixed assets
(3,486
)
 
(5,572
)
Other
(2,272
)
 
(2,325
)
Deferred income tax liabilities
(256,398
)
 
(288,859
)
Net deferred income tax assets (liabilities)
39,723

 
(6,667
)
Valuation allowance
(154,916
)
 
(142,062
)
Net deferred income tax liabilities
$
(115,193
)
 
$
(148,729
)
Summary of Changes in Gross Unrecognized Income Tax Benefits The following summarizes the changes in our gross unrecognized income tax benefits.
 
For the years ended December 31,
(In thousands)
2018
 
2017
 
2016
Unrecognized tax benefits at beginning of period
$
21,347

 
$
27,545

 
$
8,595

Gross increases – tax positions in prior period

 
44

 
1,443

Gross increases – tax positions in current period
8,384

 

 
18,472

Gross decreases – tax positions in prior period
(7,597
)
 
(1,724
)
 
(671
)
Lapse of Statute of Limitations
(4,621
)
 
(4,518
)
 
(294
)
Unrecognized tax benefits at end of period
$
17,513

 
$
21,347

 
$
27,545

Summary of Significant Elements Contributing to the Difference Between the Federal Statutory Rate and the Effective Tax Rate The significant elements contributing to the difference between the federal statutory tax rate and the effective tax rate are as follows:
 
For the years ended December 31,
 
2018
 
2017
 
2016
Federal statutory rate
21.0
 %
 
35.0
 %
 
35.0
 %
State income taxes, net of federal benefit
4.3
 %
 
5.1
 %
 
5.2
 %
Foreign income tax
(6.0
)%
 
(5.3
)%
 
(14.2
)%
Income Tax Refunds
3.6
 %
 
 %
 
 %
Research and development tax credits
1.9
 %
 
0.6
 %
 
5.4
 %
Non-Deductible components of Convertible Debt
(0.2
)%
 
0.1
 %
 
2.2
 %
Valuation allowance
(7.1
)%
 
(28.4
)%
 
9.5
 %
Rate change effect
8.1
 %
 
(10.8
)%
 
21.2
 %
Non-deductible items
(2.9
)%
 
(1.9
)%
 
(1.9
)%
Unrecognized tax benefits
(1.8
)%
 
(0.7
)%
 
(1.0
)%
Other
(0.7
)%
 
(0.4
)%
 
(7.7
)%
Total
20.2
 %
 
(6.7
)%
 
53.7
 %
Reconciliation of Losses Before Income Taxes Between U.S. and Foreign Jurisdictions The following table reconciles our losses before income taxes between U.S. and foreign jurisdictions:
  
For the years ended December 31,
(In thousands)
2018
 
2017
 
2016
Pre-tax income (loss):
 
 
 
 
 
U.S.
$
(132,102
)
 
$
(247,938
)
 
$
(92,175
)
Foreign
(59,664
)
 
(38,457
)
 
(12,299
)
Total
$
(191,766
)
 
$
(286,395
)
 
$
(104,474
)