Annual report pursuant to Section 13 and 15(d)

Income Taxes Income Tax (Tables)

v3.8.0.1
Income Taxes Income Tax (Tables)
12 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
The domestic and international components of income (loss) before income tax provision (benefit) are presented as follows:
 
Years Ended December 31,
 
2017
 
2016
 
2015
 
(in thousands)
Domestic
$
42,580

 
$
75,778

 
$
(44,094
)
Foreign
(76,578
)
 
(12,088
)
 
1,188

Income (loss) before income taxes
$
(33,998
)
 
$
63,690

 
$
(42,906
)
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The income tax provision (benefit) consists of the following:
 
Years Ended December 31,
 
2017
 
2016
 
2015
 
(in thousands)
Current:
 
 
 
 
 
Federal
$
13,470

 
$
1,216

 
$

State
26

 
(11
)
 
16

Foreign
1,784

 
1,092

 
942

Total current
15,280

 
2,297

 
958

Deferred:
 
 
 
 
 
Federal
19,451

 
17,492

 
(13,759
)
State
(4,668
)
 
(8,271
)
 
(1,034
)
Foreign
(3,697
)
 
(2,459
)
 
126

Valuation allowance release due to acquisition

 

 
(1,757
)
Change in valuation allowance
(51,177
)
 
(6,661
)
 
14,891

Total deferred
(40,091
)
 
101

 
(1,533
)
Total income tax provision (benefit)
$
(24,811
)
 
$
2,398

 
$
(575
)
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
The actual income tax provision (benefit) differs from the amount computed using the federal statutory rate as follows:
 
Years Ended December 31,
 
2017
 
2016
 
2015
 
(in thousands)
Provision (benefit) at statutory rate
$
(11,899
)
 
$
22,294

 
$
(14,588
)
State income taxes (net of federal benefit)
17

 
(13
)
 
275

Research and development credits
(8,153
)
 
(9,076
)
 
(2,083
)
Foreign rate differential
23,666

 
2,888

 
(62
)
Stock compensation
(5,713
)
 
(5,756
)
 
549

Foreign deemed dividend

 
51

 
279

Transaction costs
553

 
749

 
1,329

Uncertain tax positions
1,993

 
(1,204
)
 
600

Foreign tax credits
(5
)
 
(72
)
 
(144
)
Permanent and other
813

 
(802
)
 
96

Foreign unremitted earnings
(1,368
)
 

 

Tax Act
25,205

 

 

Other tax rate changes
1,257

 

 

Valuation allowance release due to acquisition

 

 
(1,757
)
Valuation allowance
(51,177
)
 
(6,661
)
 
14,931

Total income tax provision (benefit)
$
(24,811
)
 
$
2,398

 
$
(575
)
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
The components of the deferred income tax assets are as follows:
 
December 31,
 
2017
 
2016
 
(in thousands)
Deferred tax assets:
 
 
 
Net operating loss carryforwards
$
77,355

 
$
19,524

Research and development credits
69,668

 
58,170

Accrued expenses and other
10,506

 
13,387

Accrued compensation
2,444

 
2,073

Stock-based compensation
2,659

 
3,451

Intangible assets

 
8,575

 
162,632

 
105,180

Less valuation allowance
(84,560
)
 
(100,284
)
 
78,072

 
4,896

Deferred tax liabilities:
 
 
 
Fixed assets
(1,777
)
 
(2,202
)
Intangible assets
(35,981
)
 

Unremitted foreign earnings
(436
)
 
(2,909
)
Net deferred tax assets (liabilities)
$
39,878

 
$
(215
)
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]
The following table summarizes the changes to the unrecognized tax benefits during 2017, 2016 and 2015:
 
(in thousands)
Balance as of December 31, 2014
$
10,808

Additions based on tax positions related to the current year
2,585

Additions related to acquisition
13,733

Decreases based on tax positions of prior year
(1,073
)
Balance as of December 31, 2015
$
26,053

Additions based on tax positions related to the current year
2,025

Decreases based on tax positions of prior year
(4,661
)
Balance as of December 31, 2016
$
23,417

Additions based on tax positions related to the current year
3,037

Additions related to acquisitions
37,090

Decreases based on tax positions of prior year
(458
)
Balance as of December 31, 2017
$
63,086