XML 55 R30.htm IDEA: XBRL DOCUMENT
v3.20.4

Provision For (Benefit From) Income Taxes (Tables) | 12 Months Ended
--- | ---
Jan. 01, 2021
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 provision for (benefit from) income taxes was as follows (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Current: |  |  |  |  |
Federal | $ | — |  |  | $ | — |  |  | $ | — |
State | 3,791 |  |  | 6,095 |  |  | 6,133 |
Total current tax expense | $ | 3,791 |  |  | $ | 6,095 |  |  | $ | 6,133 |
Deferred: |  |  |  |  |
Federal | $ | 14,886 |  |  | $ | 71,580 |  |  | $ | (238,675) |
State | 379 |  |  | (578) |  |  | (5,436) |
Total deferred tax expense (benefit) | 15,265 |  |  | 71,002 |  |  | (244,111) |
Provision for (benefit from) income taxes | $ | 19,056 |  |  | $ | 77,097 |  |  | $ | (237,978) |
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 at the statutory federal income tax rate of 21% for each of the years ended December 31, 2020, 2019 and 2018, respectively, to our provision for (benefit from) income taxes was as follows (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
U.S. federal income tax provision at statutory rate | $ | 27,476 |  |  | $ | 83,603 |  |  | $ | 94,939 |
State tax (benefit) expense | (2,232) |  |  | 1,148 |  |  | 4,690 |
Change in valuation allowance | 5,525 |  |  | 3,208 |  |  | (315,394) |
Research credits | (11,356) |  |  | (8,299) |  |  | (18,308) |
Stock-based compensation | (20,399) |  |  | (9,177) |  |  | (5,998) |
Non-deductible executive compensation | 18,067 |  |  | 4,228 |  |  | 1,111 |
Branded prescription drug fee | 2,537 |  |  | 1,099 |  |  | 371 |
Other | (562) |  |  | 1,287 |  |  | 611 |
Provision for (benefit from) income taxes | $ | 19,056 |  |  | $ | 77,097 |  |  | $ | (237,978) |
Schedule of Deferred Assets and Liabilities | Our deferred tax assets and liabilities were as follows (in thousands):
| December 31,
| 2020 |  | 2019
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 37,454 |  |  | $ | 65,131 |
Tax credit carryforwards | 126,625 |  |  | 110,037 |
Depreciation and amortization | 18,414 |  |  | 26,792 |
Stock-based compensation | 19,818 |  |  | 14,966 |
Lease liabilities | 11,908 |  |  | 11,211 |
Accruals and reserves not currently deductible | 12,207 |  |  | 8,248 |
Deferred revenue | 7,637 |  |  | 6,547 |
Other assets | — |  |  | 345 |
Total deferred tax assets | 234,063 |  |  | 243,277 |
Valuation allowance | (67,185) |  |  | (61,659) |
Net deferred tax assets | 166,878 |  |  | 181,618 |
Deferred tax liabilities: |  |  |
Lease right-of-use assets | (9,510) |  |  | (9,244) |
Other liabilities | (657) |  |  | — |
Total deferred tax liabilities | (10,167) |  |  | (9,244) |
Net deferred taxes | $ | 156,711 |  |  | $ | 172,374 |
Schedule of Unrecognized Tax Benefits | The following table summarizes the activity related to our unrecognized tax benefits (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Beginning balance | $ | 79,078 |  |  | $ | 76,060 |  |  | $ | 79,342 |
Change relating to prior year provision | 591 |  |  | 589 |  |  | (4,254) |
Change relating to current year provision | 3,305 |  |  | 2,429 |  |  | 1,083 |
Reductions based on the lapse of the applicable statutes of limitations | (2,033) |  |  | — |  |  | (111) |
Ending balance | $ | 80,941 |  |  | $ | 79,078 |  |  | $ | 76,060 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=121610041&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration