v2.4.1.9

Income Taxes | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The Company accounts for income taxes in accordance with authoritative guidance, which requires the use of the asset and liability method. Under this method, deferred income tax assets and liabilities are determined based upon the difference between the consolidated financial statement amounts and the tax basis of assets and liabilities and are measured using the enacted tax rate expected to apply to taxable income in the years in which the differences are expected to be reversed. As management believes that it is more likely than not that the Company will not realize the full amount of its net deferred tax assets, the Company recorded a valuation allowance for the deferred tax assets as of December 31, 2014, 2013 and 2012, respectively. The provision for income taxes for the years ended December 31, 2014, 2013 and 2012 consisted of the following components:
|  | 2014 |  | 2013 |  | 2012
Current: |  |  |  |  |  |
U.S. federal |  | $ | — |  |  | $ | — |  |  | $ | — |
State |  | 40 |  |  | 34 |  |  | — |
Total current |  | 40 |  |  | 34 |  |  | — |
Deferred: |  |  |  |  |  |
U.S. federal |  | $ | 10 |  |  | $ | 4 |  |  | $ | 2 |
State |  | 1 |  |  | 2 |  |  | 3 |
Total deferred |  | 11 |  |  | 6 |  |  | 5 |
Provision for income taxes |  | $ | 51 |  |  | $ | 40 |  |  | $ | 5 |
The reconciliation of income tax expense computed at the U.S. federal statutory rate to the Company’s effective tax rate for the years ended December 31, 2014, 2013 and 2012 is as follows:
|  | 2014 |  | 2013 |  | 2012
U.S. federal income tax rate |  | 34.0 | % |  | 34.0 | % |  | 34.0 | %
State income taxes, net of federal benefit |  | (0.5 | )% |  | 6.4 | % |  | 5.7 | %
Valuation allowance |  | (20.1 | )% |  | (39.7 | )% |  | (39.1 | )%
Equity compensation |  | (9.4 | )% |  | (0.4 | )% |  | — | %
Other |  | (4.4 | )% |  | (0.4 | )% |  | (0.6 | )%
Effective income tax rate |  | (0.4 | )% |  | (0.1 | )% |  | 0.0 | %
Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2014 and 2013 are as follows:
|  | 2014 |  | 2013
Deferred tax assets: |  |  |  |
Current: |  |  |  |
Deferred revenue |  | $ | 35,477 |  |  | $ | 32,643 |
Noncurrent: |  |  |  |
Intangibles - other |  | 11,275 |  |  | 12,138 |
Net operating loss carryforwards |  | 48,433 |  |  | 39,757 |
Stock-based compensation |  | 3,773 |  |  | 1,999 |
Other |  | 4,930 |  |  | 4,337 |
Total deferred tax assets |  | 103,888 |  |  | 90,874 |
Valuation allowance |  | (89,271 | ) |  | (87,006 | )
Total net deferred tax assets |  | 14,617 |  |  | 3,868 |
Deferred tax liabilities: |  |  |  |
Current: |  |  |  |
Prepaid expenses |  | $ | (4,806 | ) |  | $ | (3,923 | )
Noncurrent: |  |  |  |
Property, equipment and software |  | (9,811 | ) |  | 55 |
Goodwill |  | (181 | ) |  | (169 | )
Total net deferred tax liabilities |  | (14,798 | ) |  | (4,037 | )
Total net deferred tax liability |  | $ | (181 | ) |  | $ | (169 | )
As of December 31, 2014, the Company had net operating loss carryforwards for federal and state income tax purposes of approximately $128,328 and $158,856, respectively. These net operating losses include an unrealized benefit of approximately $6,056 related to share-based compensation that will be recorded in equity when realized. The net operating loss carryforwards will expire in future years, primarily beginning in 2027. The net operating losses may be subject to annual limitations of use under Internal Revenue Code Section 382. The Company files income tax returns in the U.S. federal jurisdiction and in various state jurisdictions. Income tax returns for the short year ended December 31, 2010 to present are open for examination in the federal jurisdiction and in significant state jurisdictions. A valuation allowance is provided when it is more likely than not that some portion of the deferred tax asset will not be realized. The Company does not benefit from its deferred tax assets based on the deferred tax liabilities related to goodwill that are not expected to reverse during the carryforward period. As this deferred tax liability would not reverse until some future indefinite period when the intangibles are either sold or impaired, any resulting temporary differences cannot be considered a source of future taxable income to support realization of the deferred tax assets. At December 31, 2014 and 2013, the Company did not have any material unrecognized income tax benefits recorded in its consolidated balance sheets.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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