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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Federal Statutory Rate on Loss before Income Taxes and before Gain from Sale of Equity Method Investment Rate to Effective Income Tax Rate

The reconciliation of the federal statutory rate on the loss before income taxes and before the gain from sale of equity method investment to the effective income tax rate for the years ended December 31 is as follows:

		2015				2014				2013
Statutory federal tax rate			(34.0	%)			(34.0	%)			(34.0	%)
State income taxes, net of federal income tax benefit			46.4				0.8				1.1
Tax credits			29.9				(12.4	)			(8.1	)
Book income attributable to noncontrolling interest			47.0				(0.6	)			0.4
Permanent items			21.2				0.4				0.6
Decrease in tax reserves			(248.6	)			(3.7	)			(0.1	)
Foreign rate differential and deferred items			(18.2	)			(0.3	)			(0.2	)
Capital gain on sale to noncontrolling interest			237.8				—				—
Decrease in unremitted Vicor Custom Power earnings			(108.7	)			—				—
(Decrease) increase in valuation allowance			(138.4	)			46.9				53.3
U.S. manufacturing deduction			—				—				1.7
Other			(0.1	)			—				0.1
			(165.7	%)			(2.9	%)			14.8	%

Schedule of Domestic and Foreign Components of Income (Loss) Before Income Taxes and before the Gain from Sale of Equity Method Investment

For financial reporting purposes, income (loss) before income taxes and before the gain from sale of equity method investment for the years ended December 31 include the following components (in thousands):

		2015				2014				2013
Domestic		$	1,373			$	(14,223	)		$	(20,466	)
Foreign			(1,615	)			(272	)			1
		$	(242	)		$	(14,495	)		$	(20,465	)

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):

		2015				2014				2013
Current:
Federal		$	144			$	(690	)		$	(1,848	)
State			(473	)			147				284
Foreign			111				124				112
			(218	)			(419	)			(1,452	)
Deferred:
Federal			(274	)			(6	)			4,491
Foreign			91				—				—
			(183	)			(6	)			4,491
		$	(401	)		$	(425	)		$	3,039

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):

		2015				2014
Deferred tax assets:
Research and development tax credit carryforwards		$	12,503			$	10,756
Stock-based compensation			3,993				3,465
Net operating loss carryforwards			3,393				3,560
Inventory reserves			2,979				3,024
Vacation accrual			1,768				1,821
Investment tax credit carryforwards			1,399				1,446
Alternative minimum tax credit carryforward			340				340
Warranty reserves			202				65
Deferred revenue			192				178
Unrealized loss on investments			149				131
Bad debt reserves			58				59
Accrued severance			35				525
Foreign tax credits			—				1,405
Other			700				446
Total deferred tax assets			27,711				27,221
Less: Valuation allowance for deferred tax assets			(25,862	)			(25,818	)
Net deferred tax assets			1,849				1,403
Deferred tax liabilities:
Depreciation			(787	)			(176	)
Prepaid expenses			(713	)			(755	)
Patent amortization			(334	)			(365	)
Unremitted Vicor Custom Power earnings			(55	)			(329	)
Total deferred tax liabilities			(1,889	)			(1,625	)
Net deferred tax liabilities		$	(40	)		$	(222	)

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):

		2015				2014				2013
Balance on January 1		$	1,254			$	2,072			$	1,506
Additions based on tax provisions related to the current year			120				161				566
Reductions for tax positions of prior years			—				(967	)			—
Settlements			(480	)			—				—
Lapse of statute			(64	)			(12	)			—
Balance on December 31		$	830			$	1,254			$	2,072

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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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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