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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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)						2022						2021						2020
Domestic						$	(16,663)					$	19,244					$	(39,937)
Foreign						8,838						4,042						3,398
						$	(7,825)					$	23,286					$	(36,539)

Components of provision for income taxes

The provision for income taxes was comprised of:

						Years Ended December 31,
(In thousands)						2022						2021						2020
Federal:
Current						$	183					$	(112)					$	(446)
Deferred						2,479						2,042						2,018
State:
Current						(215)						214						657
Deferred						24						324						(1,589)
Foreign:
Current						5,828						3,328						3,097
Deferred						(1,814)						(844)						195
						$	6,485					$	4,952					$	3,932

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,
						2022						2021						2020
U.S. federal statutory rate						21.0		%				21.0		%				21.0		%
State income tax expense (benefit)						6.1						2.2						(2.5)
Withholding tax						(36.6)						4.4						(4.1)
Foreign rate differential						(28.3)						3.3						(4.8)
Research and development credit						4.8						(7.1)						(4.8)
Executive compensation						(49.0)						6.6						(1.8)
Stock-based compensation						47.9						(7.7)						0.6
Foreign tax credit						57.4						(84.0)						(89.5)
Foreign-derived intangible income deduction						70.5						(55.8)						13.7
Divestiture						—						—						(20.4)
Acquisition						(25.1)						8.8						—
Debt extinguishment						(226.7)						—						—
Other						(1.0)						(0.2)						0.8
Valuation allowance						76.1						129.8						81.0
						(82.9)		%				21.3		%				(10.8)		%

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)						2022						2021
Deferred tax assets:
Depreciation and amortization						$	3,247					$	6,578
Lease liabilities						7,691						7,873
Other timing differences, accruals and reserves						10,393						5,747
Deferred equity compensation						4,366						5,077
Net operating loss carryovers						13,423						14,602
Capitalized research						49,649						22,301
Tax credits						96,758						130,348
Total gross deferred tax assets						185,527						192,526
Deferred tax liabilities:
Lease right-of-use assets						(5,501)						(5,323)
Deferred revenue						(76)						(267)
Total gross deferred tax liabilities						(5,577)						(5,590)
Total net deferred tax assets						179,950						186,936
Valuation allowance						(201,883)						(206,874)
Net deferred tax liabilities						$	(21,933)					$	(19,938)

						As of December 31,
(In thousands)						2022						2021
Reported as:
Non-current deferred tax assets						$	3,031					$	4,047
Non-current deferred tax liabilities						(24,964)						(23,985)
Net deferred tax liabilities						$	(21,933)					$	(19,938)

Summary of valuation allowance

The following table presents the tax valuation allowance information for the years ended December 31, 2022, 2021 and 2020:

(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, 2020						$	196,098					(21,294)						3						(688)												$	174,119
Year ended December 31, 2021						$	174,119					32,544						211						—												$	206,874
Year ended December 31, 2022						$	206,874					(7,233)						2,242						—												$	201,883

______________________________________

*    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, 2022, 2021 and 2020 was as follows:

						Years Ended December 31,
(In thousands)						2022						2021						2020
Balance as of January 1						$	146,215					$	134,044					$	115,653
Tax positions related to current year:
Additions						18,515						18,748						18,600
Tax positions related to prior years:
Additions						—						615						—
Reductions						(199)						(1,586)						(209)
Settlements						—						(5,606)						—
Balance as of December 31						$	164,531					$	146,215					$	134,044

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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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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Tabular disclosure of the change in unrecognized tax benefits.

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