Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.3.1.900
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
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)
2015
 
2014
 
2013
Current
 
 
 
 
 
Federal
$
430

 
$
225

 
$

State
(2,157
)
 
247

 

Foreign
(8,134
)
 
(1,514
)
 
(1,073
)
 
(9,861
)
 
(1,042
)
 
(1,073
)
Deferred
 
 
 
 
 
Federal
109,286

 

 
(1,161
)
State
12,327

 
(167
)
 
(104
)
Foreign
1,923

 
1,185

 
666

 
123,536

 
1,018

 
(599
)
Total, net
$
113,675

 
$
(24
)
 
$
(1,672
)
Components of Deferred Income Tax Assets and Liabilities
Deferred income tax assets and liabilities as of December 31, 2015 and 2014 are comprised of the following: 
(In thousands)
December 31, 2015
 
December 31, 2014
Deferred income tax assets:
 
 
 
Federal net operating loss
$
71,658

 
$
63,004

State net operating loss
14,227

 
12,050

Foreign net operating loss
33,701

 
25,825

Research and development expense
5,138

 
9,244

Research and development tax credit
7,388

 
6,077

Stock options
24,756

 
18,422

Accruals
7,086

 
1,764

Equity investments
4,420

 
8,038

Bad debts
38,809

 

Lease liability
7,022

 

Other
7,104

 
4,702

Deferred income tax assets
221,309

 
149,126

Deferred income tax liabilities:
 
 
 
Intangible assets
(386,588
)
 
(177,074
)
Fixed assets
(17,072
)
 

Other
(1,538
)
 
(4,305
)
Deferred income tax liabilities
(405,198
)
 
(181,379
)
Net deferred income tax liabilities
(183,889
)
 
(32,253
)
Valuation allowance
(42,147
)
 
(131,931
)
Net deferred income tax liabilities
$
(226,036
)
 
$
(164,184
)
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)
2015
 
2014
 
2013
Unrecognized tax benefits at beginning of period
$
5,890

 
$
9,231

 
$
9,245

Gross increases – tax positions in prior period
955

 
524

 
58

Gross increases – tax positions in current period
2,543

 
193

 
517

Gross decreases – tax positions in prior period
(176
)
 
(396
)
 
(589
)
Lapse of Statute of Limitations
(617
)
 
(472
)
 

Settlements

 
(3,190
)
 

Unrecognized tax benefits at end of period
$
8,595

 
$
5,890

 
$
9,231

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,
 
2015
 
2014
 
2013
Federal statutory rate
35.0
 %
 
35.0
 %
 
35.0
 %
State income taxes, net of federal benefit
2.8
 %
 
2.5
 %
 
2.4
 %
Foreign income tax
(7.8
)%
 
(10.3
)%
 
(7.9
)%
Research and development tax credits
 %
 
1.1
 %
 
1.0
 %
Non-Deductible components of Convertible Debt
(9.4
)%
 
(3.8
)%
 
(16.7
)%
Valuation allowance
61.1
 %
 
(25.3
)%
 
(11.4
)%
Other
(1.7
)%
 
0.8
 %
 
(3.9
)%
Total
80.0
 %
 
 %
 
(1.5
)%
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)
2015
 
2014
 
2013
Pre-tax loss:
 
 
 
 
 
U.S.
$
(113,612
)
 
$
(84,075
)
 
$
(74,861
)
Foreign
(30,091
)
 
(87,567
)
 
(37,874
)
Total
$
(143,703
)
 
$
(171,642
)
 
$
(112,735
)