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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of income before income tax

Income (loss) before taxes consisted of the following:

						Years Ended December 31,
(In thousands)						2020 (As Restated)						2019 (As Restated)						2018
Domestic						$	(39,937)					$	(76,848)					$	(63,829)
Foreign						3,398						(5,700)						(6,799)
						$	(36,539)					$	(82,548)					$	(70,628)

Components of provision for (benefit from) income taxes

The provision for (benefit from) income taxes was comprised of:

						Years Ended December 31,
(In thousands)						2020 (As Restated)						2019 (As Restated)						2018
Federal:
Current						$	(446)					$	2,932					$	5,451
Deferred						2,018						2,016						82,726
State:
Current						657						670						333
Deferred						(1,589)						(1,198)						522
Foreign:
Current						3,097						1,708						1,592
Deferred						195						(2,712)						(3,295)
						$	3,932					$	3,416					$	87,329

Schedule of effective income tax rate reconciliation

The differences between Rambus’ effective tax rate and the U.S. federal statutory regular tax rate were as follows:

						Years Ended December 31,
						2020 (As Restated)						2019 (As Restated)						2018
U.S. federal statutory rate						21.0		%				21.0		%				21.0		%
State income tax (expense)/benefit						(2.5)						1.0						(1.2)
Withholding tax						(4.1)						(3.7)						(7.7)
Foreign rate differential						(4.8)						(1.1)						(0.2)
Research and development credit						(4.8)						1.2						2.2
Executive compensation						(1.8)						(1.2)						(0.1)
Stock-based compensation						0.6						(2.4)						(2.8)
Foreign tax credit						(89.5)						3.6						7.7
Foreign derived intangible income deduction						13.7						5.0						14.8
Divestiture						(20.4)						5.1						—
Other						0.8						(0.4)						0.7
Valuation allowance						81.0						(32.2)						(158.0)
						(10.8)		%				(4.1)		%				(123.6)		%

Components of the net deferred tax liabilities

The components of the net deferred tax assets (liabilities) were as follows:

						As of December 31,
(In thousands)						2020 (As Restated)						2019 (As Restated)
Deferred tax assets:
Depreciation and amortization						$	13,199					$	13,805
Lease liabilities						8,716						10,734
Other timing differences, accruals and reserves						5,347						9,522
Deferred equity compensation						4,631						4,456
Net operating loss carryovers						15,692						20,836
Tax credits						168,978						232,787
Total gross deferred tax assets						216,563						292,140
Deferred tax liabilities:
Lease right-of-use assets						(6,392)						(10,400)
Convertible debt						(130)						(151)
Deferred revenue						(45,845)						(94,763)
Total gross deferred tax liabilities						(52,367)						(105,314)
Total net deferred tax assets						164,196						186,826
Valuation allowance						(174,119)						(196,098)
Net deferred tax liabilities						$	(9,923)					$	(9,272)

						As of December 31,
(In thousands)						2020 (As Restated)						2019 (As Restated)
Reported as:
Non-current deferred tax assets						$	4,353					$	4,574
Non-current deferred tax liabilities						(14,276)						(13,846)
Net deferred tax liabilities						$	(9,923)					$	(9,272)

Summary of valuation allowance

The following table presents the tax valuation allowance information for the years ended December 31, 2020, 2019 and 2018:

(In thousands)						Balance at Beginning of Period						Charged (Credited) to Operations						Charged to Other Account*						Valuation Allowance Release						Valuation Allowance Set up						Balance at End of Period
Tax Valuation Allowance
Year ended December 31, 2018						$	50,911					—						9,238						—						113,729						$	173,878
Year ended December 31, 2019 (As Restated)						$	173,878					22,220						—						—						—						$	196,098
Year ended December 31, 2020 (As Restated)						$	196,098					(21,294)						3						(688)						—						$	174,119

______________________________________

*    Amounts not charged to operations are charged to other comprehensive income or retained earnings.

Schedule of reconciliation of the beginning and ending amounts of unrecognized tax benefits

A reconciliation of the beginning and ending amounts of unrecognized income tax benefits for the years ended December 31, 2020, 2019 and 2018 was as follows:

						Years Ended December 31,
(In thousands)						2020						2019						2018
Balance at January 1						$	115,653					$	23,482					$	22,652
Tax positions related to current year:
Additions						18,600						16,485						1,032
Tax positions related to prior years:
Additions						—						76,158						115
Reductions						(209)						(472)						(317)
Settlements						—						—						—
Balance at December 31						$	134,044					$	115,653					$	23,482

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