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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Schedule of Income Tax Rates [Table Text Block]

The following table summarizes income tax rates under the tax reform law

			2015			2016			2017			2018			2019
Income Tax			25	%		25	%		25	%		25	%		25	%
CREE Tax			9	%		9	%		9	%		9	%		9	%
CREE Surtax			5	%		6	%		8	%		9	%		-
Total Tax on Income			39	%		40	%		42	%		43	%		34	%

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of income tax expense (benefit) are as follows:

		(in thousands)
		Three months ended September 30,						Nine months ended September 30,
		2015			2014			2015			2014
Current income tax
Foreign		$	8,728		$	2,086		$	17,985		$	6,652
Deferred income tax
Foreign			(204)			(316)			(1,058)			352
Total Provision for Income tax		$	8,524		$	1,770		$	16,927		$	7,004
Effective tax rate			129	%		12	%		289	%		171	%

Summary of Changes in Liability Fair Value, Nontaxable [Table Text Block]

The Company's effective tax rates for the three and nine-month periods ended September 30, 2015 and 2014 reflect the non-cash, non-deductible losses and non-taxable gains from changes in the fair values of the Company’s warrant and earnout shares liabilities in the table below:

		Three months ended September 30,						Nine  months ended  September 30,
		2015			2014			2015			2014
Change in fair value of warrant liability			10,148			-6,756			21,461			6,769
Change in fair value of earnout shares liability			2,519			-1,861			10,191			9,897
Total non-cash, nontaxable effects of changes in fair value of liabilities			12,667			-8,617			31,652			16,666

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- Definition

Tabular disclosure of the income tax rates under the tax reform law.

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The tabular disclosure of changes in fair value of liabilities which are non taxable.

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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