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Income Taxes (Tables)

12 Months Ended

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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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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