Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.0.8
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Components of income tax expense benefit
The (expense) benefit from continuing operations for incomes taxes consists of the following: 
 
For the years ended December 31,
(In thousands)
2013
 
2012
 
2011
Current
 
 
 
 
 
Federal
$

 
$

 
$

State

 

 

Foreign
(1,073
)
 
(332
)
 
(391
)
 
(1,073
)
 
(332
)
 
(391
)
Deferred
 
 
 
 
 
Federal
(1,161
)
 
8,191

 
18,043

State
(104
)
 
1,038

 
1,220

Foreign
666

 
729

 
486

 
(599
)
 
9,958

 
19,749

Total, net
$
(1,672
)
 
$
9,626

 
$
19,358

Components of deferred income tax assets and liabilities from continuing operations
Deferred income tax assets and liabilities from continuing operations as of December 31, 2013 and 2012 are comprised of the following: 
(In thousands)
December 31, 2013
 
December 31, 2012
Deferred income tax assets:
 
 
 
Federal net operating loss
$
43,869

 
$
50,174

State net operating loss
6,987

 
6,774

Foreign net operating loss
20,545

 
3,427

Capitalized research and development expense
4,746

 
2,162

Research and development tax credit
4,876

 
4,204

Stock options
13,981

 
6,326

Equity investments
4,756

 
1,234

Accruals
1,936

 
1,556

Other
2,904

 
2,860

Deferred income tax assets
104,600

 
78,717

Deferred income tax liabilities:
 
 
 
Intangible assets
(179,414
)
 
(25,738
)
Other
(4,996
)
 
(3,277
)
Deferred income tax liabilities
(184,410
)
 
(29,015
)
Net deferred income tax assets
(79,810
)
 
49,702

Valuation allowance
(85,370
)
 
(59,145
)
Net deferred income tax liabilities
$
(165,180
)
 
$
(9,443
)
Summary of 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)
2013
 
2012
 
2011
Unrecognized tax benefits at beginning of period
$
9,245

 
$
5,250

 
$
5,413

Gross increases – tax positions in prior period
575

 
4,467

 
257

Gross decreases – tax positions in prior period
(589
)
 
(472
)
 
(420
)
Unrecognized tax benefits at end of period
$
9,231

 
$
9,245

 
$
5,250

Summary of difference between the federal statutory tax rate and the effective tax rate
 
For the years ended December 31,
 
2013
 
2012
 
2011
Federal statutory rate
35.0
 %
 
35.0
 %
 
35.0
 %
State income taxes, net of federal benefit
2.4
 %
 
3.1
 %
 
3.6
 %
Foreign income tax
(7.9
)%
 
(0.9
)%
 
(1.9
)%
Research and development tax credits
1.0
 %
 
(0.3
)%
 
0.2
 %
Original issue discount
 %
 
 %
 
0.1
 %
Non-Deductible components of Convertible Debt
(16.7
)%
 
 %
 
 %
Valuation allowance
(11.4
)%
 
(11.4
)%
 
35.9
 %
Other
(3.9
)%
 
(0.7
)%
 
2.0
 %
Total
(1.5
)%
 
24.8
 %
 
74.9
 %
Summary of losses from continuing operations before income taxes between U.S. and foreign jurisdictions
  
For the years ended December 31,
(In thousands)
2013
 
2012
 
2011
Pre-tax loss:
 
 
 
 
 
U.S.
$
(74,861
)
 
$
(34,058
)
 
$
(24,089
)
Foreign
(37,874
)
 
(4,725
)
 
(1,733
)
Total
$
(112,735
)
 
$
(38,783
)
 
$
(25,822
)
Reconciliation of long lived assets between U.S. and foreign jurisdictions
(In thousands)
December 31, 2013
 
December 31, 2012
Long-lived assets:
 
 
 
U.S.
$
4,582

 
$
4,324

Foreign
12,445

 
12,202

Total
$
17,027

 
$
16,526