XML 134 R118.htm IDEA: XBRL DOCUMENT v3.25.0.1
INCOME TAXES - Additional Information (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Expense (benefit) for income taxes                      
Deferred tax expense (benefit):                 $ (10,119) $ (955) $ (11,901)
Total income tax expense (benefit) $ (11,381) $ 808 $ 1,463 $ 1,806 $ (610) $ 249 $ 1,107 $ 1,657 (7,304) 2,403 $ (9,064)
Deferred tax assets:                      
Operating loss carryforwards 452,410       477,420       452,410 477,420  
Tax credit carryforwards 121,635       104,580       121,635 104,580  
Compensation related differences 72,349       85,007       72,349 85,007  
Lease liabilities 47,199       47,118       47,199 47,118  
Capitalized research and development 251,760       191,468       251,760 191,468  
Other temporary differences 7,271       10,275       7,271 10,275  
Tax assets before valuation allowance 952,624       915,868       952,624 915,868  
Less - Valuation allowance (708,788)       (465,832)       (708,788) (465,832)  
Total deferred tax assets 243,836       450,036       243,836 450,036  
Deferred tax liabilities                      
Amortization (205,764)       (415,064)       (205,764) (415,064)  
Property, plant and equipment (7,160)       (9,465)       (7,160) (9,465)  
Lease assets (31,266)       (35,786)       (31,266) (35,786)  
Other temporary differences (6,816)       (7,010)       (6,816) (7,010)  
Total deferred tax liabilities (251,006)       (467,325)       (251,006) (467,325)  
Net deferred tax liabilities (7,170)       (17,289)       $ (7,170) $ (17,289)  
Differences between the effective income tax rate and the statutory tax rate                      
U.S. Federal statutory rate                 21.00% 21.00% 21.00%
State taxes                 3.00% 3.90% 3.90%
Federal and state tax rate changes                 0.00% 1.10% (0.20%)
Foreign tax rate differential                 0.10% 0.00% (0.10%)
Research and development tax credits                 1.60% 7.60% 2.30%
Stock-based compensation expense                 (1.00%) (4.40%) (2.00%)
Non-deductible executive compensation                 (0.50%) (3.50%) (0.40%)
Other adjustments                 0.00% (0.70%) 0.00%
Other adjustments                 (0.10%) (2.50%) 1.20%
Valuation allowance                 (23.50%) (23.70%) (24.40%)
Effective tax rate                 0.60% (1.20%) 1.30%
Reconciliation of the amounts of unrecognized tax benefits                      
Beginning of the period       $ 36,399       $ 28,270 $ 36,399 $ 28,270 $ 21,780
Increase due to current year tax positions                 7,322 7,447 5,861
Increase due to prior year tax positions                 0 1,108 629
Decrease due to prior year tax positions                 (377) (426) 0
Ending of the period $ 43,344       $ 36,399       43,344 36,399 28,270
Federal                      
Expense (benefit) for income taxes                      
Current expense (benefit):                 0 0 0
Deferred tax expense (benefit):                 (4,775) 2,395 (3,292)
State                      
Expense (benefit) for income taxes                      
Current expense (benefit):                 933 2,266 2,170
Deferred tax expense (benefit):                 (5,145) (1,829) (8,926)
Foreign                      
Expense (benefit) for income taxes                      
Current expense (benefit):                 1,882 2,561 1,131
Deferred tax expense (benefit):                 $ (199) $ (2,990) $ (147)