Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.1.9
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2014
Income Tax Disclosure [Abstract]  
Components of income tax expense benefit
The (expense) benefit for incomes taxes consists of the following: 
 
For the years ended December 31,
(In thousands)
2014
 
2013
 
2012
Current
 
 
 
 
 
Federal
$
225

 
$

 
$

State
247

 

 

Foreign
(1,514
)
 
(1,073
)
 
(332
)
 
(1,042
)
 
(1,073
)
 
(332
)
Deferred
 
 
 
 
 
Federal

 
(1,161
)
 
8,191

State
(167
)
 
(104
)
 
1,038

Foreign
1,185

 
666

 
729

 
1,018

 
(599
)
 
9,958

Total, net
$
(24
)
 
$
(1,672
)
 
$
9,626

Components of deferred income tax assets and liabilities from continuing operations
Deferred income tax assets and liabilities as of December 31, 2014 and 2013 are comprised of the following: 
(In thousands)
December 31, 2014
 
December 31, 2013
Deferred income tax assets:
 
 
 
Federal net operating loss
$
63,004

 
$
43,869

State net operating loss
12,050

 
6,987

Foreign net operating loss
25,825

 
20,545

Research and development expense
9,244

 
4,746

Research and development tax credit
6,077

 
4,876

Stock options
18,422

 
13,981

Accruals
1,764

 
1,936

Equity investments
8,038

 
4,756

Other
4,702

 
2,904

Deferred income tax assets
149,126

 
104,600

Deferred income tax liabilities:
 
 
 
Intangible assets
(177,074
)
 
(179,414
)
Other
(4,305
)
 
(4,996
)
Deferred income tax liabilities
(181,379
)
 
(184,410
)
Net deferred income tax assets
(32,253
)
 
(79,810
)
Valuation allowance
(131,931
)
 
(85,370
)
Net deferred income tax liabilities
$
(164,184
)
 
$
(165,180
)
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)
2014
 
2013
 
2012
Unrecognized tax benefits at beginning of period
$
9,231

 
$
9,245

 
$
5,250

Gross increases – tax positions in prior period
717

 
575

 
4,467

Gross decreases – tax positions in prior period
(396
)
 
(589
)
 
(472
)
Lapse of Statute of Limitations
(472
)
 


 


Settlements
(3,190
)
 


 


Unrecognized tax benefits at end of period
$
5,890

 
$
9,231

 
$
9,245

Summary of difference between the federal statutory tax 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,
 
2014
 
2013
 
2012
Federal statutory rate
35.0
 %
 
35.0
 %
 
35.0
 %
State income taxes, net of federal benefit
2.5
 %
 
2.4
 %
 
3.1
 %
Foreign income tax
(10.3
)%
 
(7.9
)%
 
(0.9
)%
Research and development tax credits
1.1
 %
 
1.0
 %
 
(0.3
)%
Non-Deductible components of Convertible Debt
(3.8
)%
 
(16.7
)%
 
 %
Valuation allowance
(25.3
)%
 
(11.4
)%
 
(11.4
)%
Other
0.8
 %
 
(3.9
)%
 
(0.7
)%
Total
 %
 
(1.5
)%
 
24.8
 %
Summary of losses from continuing operations 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)
2014
 
2013
 
2012
Pre-tax loss:
 
 
 
 
 
U.S.
$
(84,075
)
 
$
(74,861
)
 
$
(34,058
)
Foreign
(87,567
)
 
(37,874
)
 
(4,725
)
Total
$
(171,642
)
 
$
(112,735
)
 
$
(38,783
)
Reconciliation of long lived assets between U.S. and foreign jurisdictions
The following table reconciles our long-lived assets between U.S. and foreign jurisdictions: 
(In thousands)
December 31, 2014
 
December 31, 2013
Long-lived assets:
 
 
 
U.S.
$
4,286

 
$
4,582

Foreign
12,125

 
12,445

Total
$
16,411

 
$
17,027