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Income Taxes (Tables)

12 Months Ended

Jan. 03, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Our income before income taxes is derived solely from within the U.S. Our income tax provision (benefit) was as follows (in thousands):

	Year Ended December 31,
	2019				2018				2017
Current:
Federal	$	—			$	—			$	—
State	6,095				6,133				4,350
Total current tax expense	6,095				6,133				4,350
Deferred:
Federal	71,580				(238,675		)		—
State	(578		)		(5,436		)		—
Total deferred tax expense	71,002				(244,111		)		—
Income tax provision (benefit)	$	77,097			$	(237,978	)		$	4,350

Schedule of Reconciliation of Income Taxes At The Statutory Federal Income Tax Rate to Net Income Taxes

The reconciliation of the U.S. federal income tax provision (benefit) at the statutory federal income tax rates of 21%, 21% and 34% for the years ended December 31, 2019, 2018 and 2017, respectively, to our income tax provision (benefit) was as follows (in thousands):

	Year Ended December 31,
	2019				2018				2017
U.S. federal income tax provision at statutory rate	$	83,603			$	94,939			$	53,916
State tax expense	1,148				4,690				8,282
Change in valuation allowance	3,208				(315,394		)		(34,266		)
Research credits	(8,299		)		(18,308		)		—
Stock-based compensation	(9,177		)		(5,998		)		(20,548		)
Non-deductible executive compensation	4,228				1,111				1,239
Non-deductible interest	—				—				1,367
Other	2,386				982				(5,640		)
Income tax provision (benefit)	$	77,097			$	(237,978	)		$	4,350

Schedule of Deferred Assets and Liabilities

Our deferred tax assets and liabilities were as follows (in thousands):

	December 31,
	2019				2018
Deferred tax assets:
Net operating loss carryforwards	$	65,131			$	146,701
Tax credit carryforwards	110,037				98,467
Depreciation and amortization	26,792				29,929
Stock-based compensation	14,966				11,366
Lease liabilities	11,211				3,265
Accruals and reserves not currently deductible	8,248				7,160
Deferred revenue	6,547				5,474
Other assets	345				1,140
Total deferred tax assets	243,277				303,502
Valuation allowance	(61,659		)		(58,112		)
Net deferred tax assets	181,618				245,390
Deferred tax liabilities:
Lease right-of-use assets	(9,244		)		(1,279		)
Total deferred tax liabilities	(9,244		)		(1,279		)
Net deferred taxes	$	172,374			$	244,111

Schedule of Unrecognized Tax Benefits

The following table summarizes the activity related to our unrecognized tax benefits (in thousands):

	Year Ended December 31,
	2019				2018				2017
Beginning balance	$	76,060			$	79,342			$	61,809
Change relating to prior year provision	589				(4,254		)		247
Change relating to current year provision	2,429				1,083				17,378
Reductions based on the lapse of the applicable statutes of limitations	—				(111		)		(92		)
Ending balance	$	79,078			$	76,060			$	79,342

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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 the change in unrecognized tax benefits.

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