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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Reconciliation of Total Amounts of Unrecognized Tax Benefits

The following is a reconciliation of the total amounts of unrecognized tax benefits for the years ended December 31, 2012, 2011 and 2010:

		2012				2011				2010
		(In thousands)
Beginning uncertain tax benefits		$	997			$	558			$	304
Current year—increases			294				439				254
Current year—decreases			(48	)			—				—
Ending uncertain tax benefits		$	1,243			$	997			$	558

Jurisdictions the Company Remains Subject to Tax Examinations

The Company remains subject to tax examinations in the following jurisdictions at December 31, 2012:

Jurisdiction		Tax Years
United States			2009-2012
Ireland			2007-2012
United Kingdom			2011-2012

Components of Loss from Operations Before Taxes

The components of loss from operations before taxes were as follows at December 31:

		2012				2011				2010
		(In thousands)
United States		$	1,874			$	1,019			$	1,987
Ireland and United Kingdom			(171,942	)			(67,629	)			(252,077	)
		$	(170,068	)		$	(66,610	)		$	(250,090	)

Benefit from Income Taxes

The expense (benefit) from income taxes shown in the accompanying consolidated statements of operations consists of the following for fiscal 2012, 2011 and 2010:

		2012				2011				2010
		(In thousands)
Current:
Federal-U.S.		$	10,265			$	3,908			$	1,068
State-U.S.			2,565				1,101				122
Total Current		$	12,830			$	5,009			$	1,190
Deferred:
Federal-U.S.			(2,803	)			(1,936	)			(1,604	)
State-U.S.			(911	)			(557	)			(87	)
Ireland and United Kingdom			(22,515	)			(5,566	)			(6,035	)
Change in valuation allowance			22,515				5,566				6,035
Total Deferred		$	(3,714	)		$	(2,493	)		$	(1,691	)
		$	9,116			$	2,516			$	(501	)

Difference between Benefit from Income Taxes and Amount Computed by Applying Statutory Income Tax Rate to Income Before Taxes

The expense (benefit) from income taxes differs from the amount computed by applying the statutory income tax rate to income before taxes due to the following for fiscal 2012, 2011 and 2010:

		2012				2011				2010
		(In thousands)
Benefits from taxes at statutory rate		$	(42,517	)		$	(16,652	)		$	(62,523	)
Rate differential			13,249				3,952				3,871
Research credits			—				—				(1,014	)
Change in valuation reserves			22,515				7,120				6,035
Permanent & other			6,809				2,209				17
Warrant derivative liabilities			8,904				5,643				52,761
Other			156				244				352
		$	9,116			$	2,516			$	(501	)

Income Tax Effect of Each Type of Temporary Difference Comprising Net Deferred Tax Asset

The income tax effect of each type of temporary difference comprising the net deferred tax asset at December 31 is as follows:

		2012				2011
		(In thousands)
Deferred tax assets:
Net operating losses		$	55,086			$	32,841
Stock based compensation			9,155				5,706
Depreciation			(189	)			40
Tax credits			5				6
Other reserves and accrued liabilities			818				53
Net deferred tax asset			64,875				38,646
Less: valuation allowance			(55,894	)			(33,379	)
		$	8,981			$	5,267

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