XML 57 R41.htm IDEA: XBRL DOCUMENT
v3.20.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Components of Loss Before Income Taxes | Loss before income taxes was comprised of the following for the periods indicated (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
United States | $ | (154,144) |  |  | $ | (225,653) |  |  | $ | (85,342) |
Foreign | (6,157) |  |  | 14,118 |  |  | (8,341) |
Loss before income taxes | $ | (160,301) |  |  | $ | (211,535) |  |  | $ | (93,683) |
Income taxes have been provided for based upon the tax laws and rates in the countries in which operations are conducted and income is earned. Components of income tax expense (benefit) consist of the following for the periods indicated (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Current |  |  |  |  |
U.S. federal | $ | (17,582) |  |  | $ | — |  |  | $ | — |
U.S. state and local | — |  |  | 209 |  |  | 7 |
Foreign | 12,876 |  |  | 21,975 |  |  | 11,677 |
Total current | (4,706) |  |  | 22,184 |  |  | 11,684 |
Deferred |  |  |  |  |
U.S. federal | (2,515) |  |  | 444 |  |  | — |
Foreign | 3,140 |  |  | 1,166 |  |  | (14,634) |
Total deferred | 625 |  |  | 1,610 |  |  | (14,634) |
Total income tax expense (benefit) | $ | (4,081) |  |  | $ | 23,794 |  |  | $ | (2,950) |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the differences between the income tax provision computed at the 21% U.S. statutory rate in effect at December 31, 2020 and the reported provision for income taxes for the periods indicated is as follows (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Income tax benefit at statutory rate | $ | (33,663) |  |  | $ | (44,422) |  |  | $ | (19,673) |
Branch profits tax | (8,015) |  |  | (12,129) |  |  | (4,267) |
State taxes, net of federal benefit | (3,206) |  |  | 154 |  |  | (27) |
Restricted stock units tax shortfall | 1,695 |  |  | 405 |  |  | 1,025 |
Taxes on foreign earnings at higher rates | 11,399 |  |  | 14,427 |  |  | 13,095 |
Effect of tax rate change | — |  |  | — |  |  | (2,929) |
Effect of moving activity to higher tax rate jurisdiction | — |  |  | — |  |  | (14,620) |
Management fee charged to international operations | 4,848 |  |  | 3,455 |  |  | 1,515 |
Increase in valuation allowances | 34,005 |  |  | 37,802 |  |  | 22,892 |
Goodwill impairment | (1,406) |  |  | 25,677 |  |  | — |
Return-to-provision adjustments | (2,299) |  |  | (524) |  |  | (521) |
Foreign tax credit | (6,574) |  |  | (5,707) |  |  | — |
Other | (865) |  |  | 4,656 |  |  | 560 |
Total income tax expense (benefit) | $ | (4,081) |  |  | $ | 23,794 |  |  | $ | (2,950) |
Schedule of Deferred Tax Assets and Liabilities | Significant components of deferred tax assets and liabilities are as follows (in thousands):
| December 31,
| 2020 |  | 2019
Deferred tax assets |  |  |
Foreign net operating loss | $ | 23,744 |  |  | $ | 17,121 |
U.S. net operating loss | 105,802 |  |  | 104,105 |
Research and development credit | 1,156 |  |  | 1,016 |
Foreign tax credit carryover | 2,322 |  |  | 422 |
Intangibles | 17,536 |  |  | 9,365 |
Inventory | 2,615 |  |  | 2,280 |
Property and equipment | 22,565 |  |  | 16,161 |
Investment in partnership | 48,973 |  |  | 24,372 |
Other | 913 |  |  | 1,442 |
Valuation allowance | (168,174) |  |  | (130,010) |
Total deferred tax assets | 57,452 |  |  | 46,274 |
Deferred tax liabilities |  |  |
Investment in partnership | (40,970) |  |  | (23,728) |
Property and equipment | — |  |  | (1,253) |
Goodwill | — |  |  | (7,297) |
Other | — |  |  | (329) |
Total deferred liabilities | (40,970) |  |  | (32,607) |
Net deferred tax assets | $ | 16,482 |  |  | $ | 13,667 |
Summary of Ultimate Utilization of NOLs | The ultimate utilization of the NOLs and research and development credits depend on the ability to generate sufficient taxable income in the appropriate tax jurisdiction. These tax attributes expire as follows (in thousands):
Year of Expiration |  | U.S. NOLs |  | Foreign NOLs |  | R&D Credits
2021 - 2025 |  | $ | — |  |  | $ | 21,230 |  |  | $ | — |
2026 - 2030 |  | — |  |  | 5,648 |  |  | — |
2031 - 2039 |  | 168,163 |  |  | 335 |  |  | 1,156 |
Does not expire |  | 209,702 |  |  | 70,668 |  |  | — |
|  | $ | 377,865 |  |  | $ | 97,881 |  |  | $ | 1,156 |
Summary of Ultimate Utilization of Research and Development Credits | The ultimate utilization of the NOLs and research and development credits depend on the ability to generate sufficient taxable income in the appropriate tax jurisdiction. These tax attributes expire as follows (in thousands):
Year of Expiration |  | U.S. NOLs |  | Foreign NOLs |  | R&D Credits
2021 - 2025 |  | $ | — |  |  | $ | 21,230 |  |  | $ | — |
2026 - 2030 |  | — |  |  | 5,648 |  |  | — |
2031 - 2039 |  | 168,163 |  |  | 335 |  |  | 1,156 |
Does not expire |  | 209,702 |  |  | 70,668 |  |  | — |
|  | $ | 377,865 |  |  | $ | 97,881 |  |  | $ | 1,156 |
Reconciliation of Unrecognized Tax Benefits | A reconciliation of unrecognized tax benefits as of December 31, 2020 is as follows (in thousands):
| 2020
Balance at December 31, 2019 | $ | 342 |
Increase from positions taken in prior periods | 20,327 |
Increase from positions taken in current period | 7,012 |
Settlements | (527) |
Balance at December 31, 2020 | $ | 27,154 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=121610041&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32559-109319 + Details
Name: | us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of tax credit carryforwards available to reduce future taxable income, including amounts, expiration dates, limitations on use and the related deferred tax assets and valuation allowances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32559-109319 + Details
Name: | us-gaap_SummaryOfTaxCreditCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration