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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

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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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