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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of income (loss) before income tax | Income (loss) before taxes consisted of the following:
|  | Years Ended December 31,
(In thousands) |  | 2021 |  | 2020 |  | 2019
Domestic |  | $ | 19,244 |  |  | $ | (39,937) |  |  | $ | (76,848) |
Foreign |  | 4,042 |  |  | 3,398 |  |  | (5,700) |
|  | $ | 23,286 |  |  | $ | (36,539) |  |  | $ | (82,548) |
Components of provision for income taxes | The provision for income taxes was comprised of:
|  | Years Ended December 31,
(In thousands) |  | 2021 |  | 2020 |  | 2019
Federal: |  |  |  |  |  |
Current |  | $ | (112) |  |  | $ | (446) |  |  | $ | 2,932 |
Deferred |  | 2,042 |  |  | 2,018 |  |  | 2,016 |
State: |  |  |  |  |  |
Current |  | 214 |  |  | 657 |  |  | 670 |
Deferred |  | 324 |  |  | (1,589) |  |  | (1,198) |
Foreign: |  |  |  |  |  |
Current |  | 3,328 |  |  | 3,097 |  |  | 1,708 |
Deferred |  | (844) |  |  | 195 |  |  | (2,712) |
|  | $ | 4,952 |  |  | $ | 3,932 |  |  | $ | 3,416 |
Schedule of effective income tax rate reconciliation | The differences between the Company’s effective tax rate and the U.S. federal statutory regular tax rate were as follows:
|  | Years Ended December 31,
|  | 2021 |  | 2020 |  | 2019
U.S. federal statutory rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income tax (expense)/benefit |  | 2.2 |  |  | (2.5) |  |  | 1.0 |
Withholding tax |  | 4.4 |  |  | (4.1) |  |  | (3.7) |
Foreign rate differential |  | 3.3 |  |  | (4.8) |  |  | (1.1) |
Research and development credit |  | (7.1) |  |  | (4.8) |  |  | 1.2 |
Executive compensation |  | 6.6 |  |  | (1.8) |  |  | (1.2) |
Stock-based compensation |  | (7.7) |  |  | 0.6 |  |  | (2.4) |
Foreign tax credit |  | (84.0) |  |  | (89.5) |  |  | 3.6 |
Foreign-derived intangible income deduction |  | (55.8) |  |  | 13.7 |  |  | 5.0 |
Divestiture |  | — |  |  | (20.4) |  |  | 5.1 |
Acquisition |  | 8.8 |  |  | — |  |  | — |
Other |  | (0.2) |  |  | 0.8 |  |  | (0.4) |
Valuation allowance |  | 129.8 |  |  | 81.0 |  |  | (32.2) |
|  | 21.3 | % |  | (10.8) | % |  | (4.1) | %
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) |  | 2021 |  | 2020
Deferred tax assets: |  |  |  |
Depreciation and amortization |  | $ | 6,578 |  |  | $ | 13,199 |
Lease liabilities |  | 7,873 |  | 8,716
Other timing differences, accruals and reserves |  | 5,828 |  | 5,347
Deferred equity compensation |  | 5,077 |  | 4,631
Net operating loss carryovers |  | 14,602 |  | 15,692
Capitalized research |  | 22,301 |  | —
Tax credits |  | 130,348 |  | 168,978
Total gross deferred tax assets |  | 192,607 |  | 216,563 |
Deferred tax liabilities: |  |  |  |
Lease right-of-use assets |  | (5,323) |  | (6,392)
Convertible debt |  | (81) |  | (130)
Deferred revenue |  | (267) |  | (45,845)
Total gross deferred tax liabilities |  | (5,671) |  | (52,367)
Total net deferred tax assets |  | 186,936 |  | 164,196
Valuation allowance |  | (206,874) |  | (174,119)
Net deferred tax liabilities |  | $ | (19,938) |  |  | $ | (9,923) |
|  | As of December 31,
(In thousands) |  | 2021 |  | 2020
Reported as: |  |  |  |
Non-current deferred tax assets |  | $ | 4,047 |  |  | $ | 4,353 |
Non-current deferred tax liabilities |  | (23,985) |  |  | (14,276) |
Net deferred tax liabilities |  | $ | (19,938) |  |  | $ | (9,923) |
Summary of valuation allowance | The following table presents the tax valuation allowance information for the years ended December 31, 2021, 2020 and 2019:
(In thousands) |  | Balance at Beginning of Period |  | Charged (Credited) to Operations |  | Charged to Other Account* |  | Valuation Allowance Release |  |  |  | Balance at End of Period
Tax Valuation Allowance |  |  |  |  |  |  |  |  |  |  |  |
Year ended December 31, 2019 |  | $ | 173,878 |  |  | 22,220 |  |  | — |  |  | — |  |  |  |  | $ | 196,098 |
Year ended December 31, 2020 |  | $ | 196,098 |  |  | (21,294) |  |  | 3 |  |  | (688) |  |  |  |  | $ | 174,119 |
Year ended December 31, 2021 |  | $ | 174,119 |  |  | 32,544 |  |  | 211 |  |  | — |  |  |  |  | $ | 206,874 |
______________________________________ * 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, 2021, 2020 and 2019 was as follows:
|  | Years Ended December 31,
(In thousands) |  | 2021 |  | 2020 |  | 2019
Balance at January 1 |  | $ | 134,044 |  |  | $ | 115,653 |  |  | $ | 23,482 |
Tax positions related to current year: |  |  |  |  |  |
Additions |  | 18,748 |  |  | 18,600 |  |  | 16,485 |
Tax positions related to prior years: |  |  |  |  |  |
Additions |  | 615 |  |  | — |  |  | 76,158 |
Reductions |  | (1,586) |  |  | (209) |  |  | (472) |
Settlements |  | (5,606) |  |  | — |  |  | — |
Balance at December 31 |  | $ | 146,215 |  |  | $ | 134,044 |  |  | $ | 115,653 |

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