Annual report pursuant to Section 13 and 15(d)

Income Taxes Income Tax (Tables)

v3.20.4
Income Taxes Income Tax (Tables)
 12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
The domestic and international components of loss before income taxes are presented as follows:
Years Ended December 31,
2020 2019 2018
(in thousands)
Domestic $ (112,778) $ (61,893) $ 16,405 
Foreign (2,074) 29,409  (49,257)
Loss before income taxes $ (114,852) $ (32,484) $ (32,852)
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] The income tax provision (benefit) consists of the following:
Years Ended December 31,
2020 2019 2018
(in thousands)
Current:
Federal $ (176) $ 1,604  $ 3,292 
State 12  16  37 
Foreign 2,687  1,560  1,640 
Total current 2,523  3,180  4,969 
Deferred:
Federal (18,595) (13,793) 788 
State (705) (1,829) (2,799)
Foreign 8,025  1,095  (3,884)
Change in valuation allowance (7,507) (1,239) (5,727)
Total deferred (18,782) (15,766) (11,622)
Total income tax benefit $ (16,259) $ (12,586) $ (6,653)
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,
2020 2019 2018
(in thousands)
Provision (benefit) at statutory rate $ (24,119) $ (6,821) $ (6,814)
State income taxes (net of federal benefit) 9  11  20 
Research and development credits (6,521) (7,815) (8,849)
Foreign rate differential 2,354  (4,489) 8,640 
Stock compensation 5,425  (2,750) 74 
Foreign income inclusion 1,446  3,936  1,103 
Provision to return (286) 1,887  (27)
Uncertain tax positions 222  1,244  1,463 
Permanent and other 131  716  1,319 
Foreign unremitted earnings (233) (103) 1,960 
Tax Act —  —  185 
Transaction costs 883  —  — 
Attribute expirations 11,937  2,837  — 
Valuation allowance (7,507) (1,239) (5,727)
Total income tax benefit $ (16,259) $ (12,586) $ (6,653)
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
The components of the deferred income tax assets are as follows:
December 31,
2020 2019
(in thousands)
Deferred tax assets:
Net operating loss carryforwards $ 65,790  $ 65,477 
Research and development credits 79,019  80,404 
Accrued expenses and other 11,669  7,768 
Lease obligation 1,731  2,047 
Accrued compensation 4,442  1,441 
Stock-based compensation 5,415  3,460 
168,066  160,597 
Less valuation allowance (71,811) (77,957)
96,255  82,640 
Deferred tax liabilities:
Fixed assets (42) (246)
Leased right-of-use assets (1,099) (1,483)
Intangible assets (9,049) (13,627)
Net deferred tax assets $ 86,065  $ 67,284 
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]
The following table summarizes the changes to the unrecognized tax benefits during 2020, 2019 and 2018:
(in thousands)
Balance as of December 31, 2017 $ 63,086 
Additions based on tax positions related to the current year 3,080 
Additions related to acquisitions — 
Decreases based on tax positions of prior year (4,696)
Balance as of December 31, 2018 $ 61,470 
Additions based on tax positions related to the current year 1,678 
Decreases based on tax positions of prior year (1,121)
Balance as of December 31, 2019 $ 62,027 
Additions based on tax positions related to the current year 1,506 
Additions related to acquisitions 1,154 
Decreases based on tax positions of prior year (922)
Balance as of December 31, 2020 $ 63,765