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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Federal Statutory Rate to Effective Income Tax Rate

The reconciliation of the federal statutory rate to the effective income tax rate for the years ended December 31 is as follows:

		2014				2013				2012
Statutory federal tax rate			(34.0	%)			(34.0	%)			(34.0	%)
State income taxes, net of federal income tax benefit			0.8				1.1				(9.4	)
Tax credits			(12.4	)			(8.1	)			0.6
U.S. manufacturing deduction			—				1.7				(3.8	)
Permanent items			0.4				0.6				2.2
Book income attributable to noncontrolling interest			(0.6	)			0.4				6.8
Foreign rate differential and deferred items			(0.3	)			(0.2	)			0.1
Increase (decrease) in tax reserves			(3.7	)			(0.1	)			0.3
Increase in valuation allowance			46.9				53.3				84.5
Other			—				0.1				(0.7	)
			(2.9	%)			14.8	%			46.6	%

Schedule of Domestic and Foreign Components of Income (Loss) Before Income Taxes

For financial reporting purposes, income (loss) before income taxes for the years ended December 31 include the following components (in thousands):

		2014				2013				2012
Domestic		$	(14,223	)		$	(20,466	)		$	(3,109	)
Foreign			(272	)			1				518
		$	(14,495	)		$	(20,465	)		$	(2,591	)

Schedule of Components of Provision (Benefit) for Income Taxes

Significant components of the provision (benefit) for income taxes for the years ended December 31 are as follows (in thousands):

		2014				2013				2012
Current:
Federal		$	(690	)		$	(1,848	)		$	920
State			147				284				425
Foreign			124				112				231
			(419	)			(1,452	)			1,576
Deferred:
Federal			(6	)			4,491				(369	)
		$	(425	)		$	3,039			$	1,207

Schedule of Significant Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities as of December 31 were as follows (in thousands):

		2014				2013
Deferred tax assets:
Research and development tax credit carryforwards		$	10,756			$	8,754
Net operating loss carryforwards			3,560				2,497
Stock-based compensation			3,465				3,048
Inventory reserves			3,024				2,687
Vacation accrual			1,821				1,645
Investment tax credit carryforwards			1,446				1,367
Foreign tax credits			1,405				—
Accrued severance			525				—
Alternative minimum tax credit carryforward			340				340
Deferred revenue			178				279
Unrealized loss on investments			131				399
Warranty reserves			65				88
Bad debt reserves			59				65
Capital loss carryforward			—				680
Other			446				428
Total deferred tax assets			27,221				22,277
Less: Valuation allowance for deferred tax assets			(25,818	)			(20,214	)
Net deferred tax assets			1,403				2,063
Deferred tax liabilities:
Depreciation			(176	)			(918	)
Prepaid expenses			(755	)			(598	)
Patent amortization			(365	)			(416	)
Unremitted Vicor Custom Power earnings			(329	)			(335	)
Total deferred tax liabilities			(1,625	)			(2,267	)
Net deferred tax liabilities		$	(222	)		$	(204	)

Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

		2014				2013				2012
Balance on January 1		$	2,072			$	1,506			$	1,405
Additions based on tax provisions related to the current year			161				566				134
Reductions for tax positions of prior years			(967	)			—				(33	)
Lapse of statute			(12	)			—				—
Balance on December 31		$	1,254			$	2,072			$	1,506

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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.

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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.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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