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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Benefit | The components of the income tax expense (benefit) for continuing operations are as follows (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Current expense (benefit): |  |  |  |  |
Federal | $ | 10,889 |  |  | $ | 89,471 |  |  | $ | — |
State | 589 |  |  | 3,103 |  |  | 424 |
Foreign | 23 |  |  | (66) |  |  | (158) |
| 11,501 |  |  | 92,508 |  |  | 266 |
Deferred expense (benefit): |  |  |  |  |
Federal | (15,672) |  |  | 74,627 |  |  | 29,928 |
State | (3,382) |  |  | 202 |  |  | (185) |
| $ | (7,553) |  |  | $ | 167,337 |  |  | $ | 30,009 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of income tax expense (benefit) from continuing operations to the amount computed by applying the statutory federal income tax rate to the net income (loss) from continuing operations is summarized as follows (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Tax at federal statutory rate | $ | (2,213) |  |  | $ | 167,294 |  |  | $ | 36,400 |
State, net of federal benefit | (1,456) |  |  | 2,466 |  |  | 1,635 |
Contingent liabilities | (278) |  |  | 18 |  |  | 948 |
Share-based compensation | (362) |  |  | (819) |  |  | (8,131) |
FDII | (1,652) |  |  | (402) |  |  | — |
Research and development credits | (699) |  |  | (879) |  |  | (2,758) |
Change in uncertain tax positions | (650) |  |  | 441 |  |  | 858 |
Rate change for changes in federal or state law | (173) |  |  | (210) |  |  | 178 |
Provision to return adjustments | (4,803) |  |  | (184) |  |  | (150) |
Foreign tax differential on income/loss of foreign subsidiaries | (3,839) |  |  | 57 |  |  | (14) |
Change in valuation allowance | (121,876) |  |  | (1,193) |  |  | (4,225) |
Sale of Vernalis R&D | 127,372 |  |  | — |  |  | — |
Expired NOLs and credits | — |  |  | — |  |  | 3,054 |
Change in derivatives | — |  |  | — |  |  | 615 |
Other | 3,076 |  |  | 748 |  |  | 1,599 |
| $ | (7,553) |  |  | $ | 167,337 |  |  | $ | 30,009 |
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets (liabilities) are comprised of the following:
| December 31,
| 2020 |  | 2019
| (in thousands)
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 64,147 |  |  | $ | 150,727 |
Research credit carryforwards | 19,623 |  |  | 14,843 |
Stock Compensation | 11,994 |  |  | 9,544 |
Other | 13,120 |  |  | 10,602 |
| 108,884 |  |  | 185,716 |
Valuation allowance for deferred tax assets | (24,858) |  |  | (141,338) |
Net deferred tax assets | $ | 84,026 |  |  | $ | 44,378 |
Deferred tax liabilities: |  |  |
Identified intangibles | (119,381) |  |  | (40,768) |
Other | (4,923) |  |  | (10,939) |
Net deferred tax liabilities | $ | (124,304) |  |  | $ | (51,707) |
Deferred income taxes, net | $ | (40,278) |  |  | $ | (7,329) |
Schedule of Unrecognized Tax Benefits | A reconciliation of the amount of unrecognized tax benefits at December 31, 2020, 2019 and 2018 is as follows (in thousands):
| December 31,
| 2020 |  | 2019 |  | 2018
Balance at beginning of year | $ | 28,736 |  |  | $ | 30,289 |  |  | $ | 29,363 |
Additions based on tax positions related to the current year | 3,911 |  |  | 543 |  |  | 1,247 |
Additions for tax positions of prior years | 179 |  |  | — |  |  | 336 |
Reductions for tax positions of prior years | (955) |  |  | (2,096) |  |  | (657) |
Balance at end of year | $ | 31,871 |  |  | $ | 28,736 |  |  | $ | 30,289 |

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- 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
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- 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
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