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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Provision for (Benefit from) Income Taxes Based on Income (Loss) Before Income Taxes | The Provision for (Benefit from) Income Taxes was based on Income (Loss) before Income Taxes as follows:
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020 (1)
U.S. Source | $ | (299,403) |  |  | $ | (259,258) |  |  | $ | (169,614) |
Non-U.S. Source | 448,979 |  |  | 183,908 |  |  | 120,617 |
Income (loss) before income taxes | $ | 149,576 |  |  | $ | (75,350) |  |  | $ | (48,997) |
Schedule of Components of Provision for (Benefit From) Income Taxes | The U.S. and foreign components of the Provision for (Benefit from) Income Taxes were as follows:
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020 (1)
Provision for (benefit from) income taxes |  |  |  |  |
Federal | $ | 12,798 |  |  | $ | (2,038) |  |  | $ | (15,073) |
State and local | 5,058 |  |  | 1,339 |  |  | 998 |
Foreign | 42,246 |  |  | 5,037 |  |  | 1,042 |
| 60,102 |  |  | 4,338 |  |  | (13,033) |
Provision for (benefit from) deferred income taxes: |  |  |  |  |
Federal | (79,270) |  |  | (29,895) |  |  | (46,124) |
State and local | (5,143) |  |  | (1,230) |  |  | (5,321) |
Foreign | 32,326 |  |  | 15,517 |  |  | (838,548) |
| (52,087) |  |  | (15,608) |  |  | (889,993) |
Provision for (benefit from) income taxes | $ | 8,015 |  |  | $ | (11,270) |  |  | $ | (903,026) |
(1)Certain December 31, 2020 amounts have been corrected for an immaterial error identified in the third quarter of 2022. See Note 1 to these Consolidated Financial Statements for details.
Schedule of Reconciliation of Statutory Federal Income Tax Rate to Company's Effective Income Tax Rate | The following is a reconciliation of the statutory federal income tax benefit to the Company’s effective tax rate:
| December 31,
| 2022 |  | 2021 |  | 2020 (3)
Federal statutory income tax rate | $ | 31,412 |  |  | $ | (15,824) |  |  | $ | (10,289) |
State and local taxes | (1,017) |  |  | 509 |  |  | (3,467) |
Orphan Drug & General Business Credit | (35,674) |  |  | (29,363) |  |  | (44,114) |
Stock compensation expense | 6,433 |  |  | 7,859 |  |  | (1,101) |
Foreign Source Income Subject to US Tax | (5,644) |  |  | 16,878 |  |  | 6,266 |
Foreign tax rate differential (1) (2) | (4,051) |  |  | (16,971) |  |  | (16,238) |
Section 162(m) limitation | 6,577 |  |  | 6,304 |  |  | 9,571 |
Tax Reserves | 18,043 |  |  | 15,530 |  |  | 2,166 |
Intra-entity transfer of assets | (18,752) |  |  | (3,920) |  |  | (852,338) |
CARES act carryback claim | — |  |  | — |  |  | (2,201) |
Valuation allowance/deferred benefit | 7,851 |  |  | 6,821 |  |  | 6,876 |
Other | 2,837 |  |  | 907 |  |  | 1,843 |
Effective income tax rate | $ | 8,015 |  |  | $ | (11,270) |  |  | $ | (903,026) |
(1)For the year ended December 31, 2022, the foreign rate differential included foreign local tax expense which was at an effective rate lower than the U.S. statutory rate and is offset by the PRV income taxed at a higher tax rate. (2)For the year ended December 31, 2021, the foreign rate differential included foreign local tax expense which was at an effective rate lower than the U.S. statutory rate and includes the recognition of the valuation allowance against a portion of the deferred tax assets of the Company’s Dutch subsidiary of $9.3 million. (3)Certain December 31, 2020 amounts have been corrected for an immaterial error identified in the third quarter of 2022. See Note 1 to these Consolidated Financial Statements for details.
Schedule of Components of Net Deferred Tax Assets | The significant components of the Company’s net deferred tax assets were as follows:
| December 31,
| 2022 |  | 2021
Net deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 20,657 |  |  | $ | 25,936 |
Tax credit carryforwards (1) | 555,319 |  |  | 564,109 |
Accrued expenses, reserves, and prepaids | 88,697 |  |  | 72,759 |
Intangible assets | 836,402 |  |  | 875,311 |
Capitalized research and development expenses | 103,212 |  |  | — |
Stock-based compensation | 49,472 |  |  | 50,910 |
Lease liabilities | 5,757 |  |  | 7,422 |
Inventory | 22,726 |  |  | 25,169 |
Other | 5,596 |  |  | 1,942 |
Valuation allowance | (116,299) |  |  | (109,176) |
Total deferred tax assets | 1,571,539 |  |  | 1,514,382 |
Joint venture basis difference | (745) |  |  | (1,665) |
Acquired intangibles | (1,138) |  |  | (1,250) |
ROU Assets | (5,347) |  |  | (6,808) |
Property, plant and equipment | (58,897) |  |  | (54,498) |
Total deferred tax liabilities | (66,127) |  |  | (64,221) |
Net deferred tax assets | $ | 1,505,412 |  |  | $ | 1,450,161 |
(1)Certain December 31, 2021 amounts have been corrected for an immaterial error identified in the third quarter of 2022. See Note 1 to these Consolidated Financial Statements for details.
Schedule of Expiration of not Utilized Net Operating Loss and Tax Credit Carryforwards | As of December 31, 2022, the Company had the following net operating loss and tax credit carryforwards, which if not utilized, will expire as follows:
Type |  | Amount |  | Year
Federal net operating loss carryforwards |  | $ | 3,628 |  |  | 2030-2033
Federal R&D and orphan drug credit carryforwards |  | $ | 585,322 |  |  | 2024-2042
State net operating loss carryforwards |  | $ | 186,594 |  |  | 2023-2042
Dutch net operating loss carryforwards |  | $ | 38,912 |  |  | Indefinite
Schedule of Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2022 and 2021, is as follows:
| December 31,
| 2022 |  | 2021
Balance at beginning of period | $ | 205,095 |  |  | $ | 182,564 |
Additions based on tax positions related to the current year | 26,762 |  |  | 23,499 |
(Deletions) Additions for tax positions of prior years | 1,017 |  |  | (786) |
Lapse of statute of limitations | (18) |  |  | (182) |
Balance at end of period | $ | 232,856 |  |  | $ | 205,095 |

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