Income Taxes

Schedule of Significant Components of Deferred Income Tax Expense (Benefit)

The significant components of current and deferred income tax expense (benefit) for the years ended December 31, 2023, 2022, and 2021, by jurisdiction, are as follows (in thousands):


	2023						2022						2021
	U.S.		Foreign		Total		U.S.		Foreign		Total		U.S.		Foreign		Total
Current income tax (benefit) expense	$	—	$	1,170	$	1,170	$	—	$	668	$	668	$	—	$	—	$	—
Deferred tax (benefit) expense		(100,754)		(2,618)		(103,372)		(42,705)		6,968		(35,737)		(51,999)		1,064		(50,935)
Net operating loss carryforward generated		(146,174)		(17,653)		(163,827)		(92,030)		4,332		(87,698)		(105,498)		(2,038)		(107,536)
Valuation allowance increase (decrease)		246,899		11,766		258,665		133,867		(10,261)		123,606		140,957		1,317		142,274
Expense (benefit) for income taxes	$	(29)		(7,335)	$	(7,364)	$	(868)	$	1,707	$	839	$	(16,540)	$	343	$	(16,197)

Schedule of Deferred Tax Assets and Liabilities

The Company has recorded a net deferred tax liability in other non-current liabilities, at December 31, 2023 and 2022 of approximately $3.2 million and $11.5 million, respectively. Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2023 and 2022 are as follows (in thousands):


	U.S.				Foreign				Total
	2023		2022		2023		2022		2023		2022
Deferred revenue		39,241		33,172		142		137		39,383		33,309
Interest expense		28,126		31,368		—		—		28,126		31,368
Other reserves and accruals		57,265		26,591		337		287		57,602		26,878
Tax credit carryforwards		20,794		14,949		—		—		20,794		14,949
Amortization of stock-based compensation		44,023		30,217		—		—		44,023		30,217
Non-compensatory warrants		2,950		6,268		—		—		2,950		6,268
Capitalized research & development expenditures		82,374		60,588		—		—		82,374		60,588
Right of use liability (operating leases)		41,960		32,616		—		259		41,960		32,875
Capital loss carryforwards		1,763		—		—		—		1,763		—
Net operating loss carryforwards		443,964		297,790		25,373		7,720		469,337		305,510
Total deferred tax asset		762,460		533,559		25,852		8,403		788,312		541,962
Valuation allowance		(676,190)		(429,291)		(19,949)		(8,183)		(696,139)		(437,474)
Net deferred tax assets	$	86,270	$	104,268	$	5,903	$	220	$	92,173	$	104,488
Intangible assets		(27,749)		(29,731)		(9,088)		(9,938)		(36,837)		(39,669)
Convertible debt		—		(26,989)		—		—		—		(26,989)
Right of use asset (operating leases)		(50,632)		(40,194)		—		(260)		(50,632)		(40,454)
Property, plant and equipment and right of use assets		(7,889)		(7,383)		—		(1,500)		(7,889)		(8,883)
Deferred tax liability	$	(86,270)	$	(104,297)	$	(9,088)	$	(11,699)	$	(95,358)	$	(115,996)
Net	$	—	$	(29)	$	(3,185)	$	(11,479)	$	(3,185)	$	(11,508)