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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

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:

		2017				2016				2015
Statutory federal tax rate			(34.0	)%			(34.0	)%			(34.0	)%
State income taxes, net of federal income tax benefit			97.2				1.9				46.4
Rate change due to tax reform			3,441.1				—				—
Tax credits			(1,222.3	)			(13.6	)			29.9
Increase (decrease) in valuation allowance			(936.1	)			46.5				(138.4	)
Permanent items			(861.2	)			0.9				21.2
Refundable income taxes — AMT credit			(751.0	)			—				—
Foreign rate differential and deferred items			(91.8	)			(0.8	)			(18.2	)
Decrease in tax reserves			(5.1	)			—				(248.6	)
Capital gain on sale to noncontrolling interest			—				3.9				237.8
Decrease in unremitted Vicor Custom Power earnings			—				(0.9	)			(108.7	)
Book income attributable to noncontrolling interest			—				0.1				47.0
Other			(0.1	)			(0.2	)			(0.1	)
			(363.3	)%			3.8	%			(165.7	)%

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):

		2017				2016				2015
Domestic		$	(1,591	)		$	(6,034	)		$	1,373
Foreign			1,493				4				(1,615	)
		$	(98	)		$	(6,030	)		$	(242	)

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):

		2017				2016				2015
Current:
Federal		$	(736	)		$	—			$	144
State			156				172				(473	)
Foreign			396				137				111
			(184	)			309				(218	)
Deferred:
Federal			—				(55	)			(274	)
Foreign			(172	)			(23	)			91
			(172	)			(78	)			(183	)
		$	(356	)		$	231			$	(401	)

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):

		2017				2016
Deferred tax assets:
Research and development tax credit carryforwards		$	20,019			$	13,967
Net operating loss carryforwards			4,918				4,902
Stock-based compensation			2,793				4,066
Investment tax credit carryforwards			2,181				1,576
Inventory reserves			2,059				3,143
Vacation accrual			1,255				1,928
Contingent consideration liabilities			148				—
Unrealized loss on investments			135				136
Deferred revenue			79				154
Warranty reserves			45				73
Bad debt reserves			36				52
Alternative minimum tax credit carryforward			—				340
Other			273				331
Total deferred tax assets			33,941				30,668
Less: Valuation allowance for deferred tax assets			(33,024	)			(29,274	)
Net deferred tax assets			917				1,394
Deferred tax liabilities:
Prepaid expenses			(470	)			(654	)
Patent amortization			(161	)			(296	)
Depreciation			(76	)			(406	)
Total deferred tax liabilities			(707	)			(1,356	)
Net deferred tax assets (liabilities)		$	210			$	38

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):

		2017				2016				2015
Balance on January 1		$	946			$	830			$	1,254
Additions based on tax positions related to the current year			138				125				120
Additions for tax positions of prior years			29				—				—
Settlements			(1	)			—				(480	)
Lapse of statute			(8	)			(9	)			(64	)
Balance on December 31		$	1,104			$	946			$	830

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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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