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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The components of income (loss) before income taxes were as follows:
| Years Ended December 31,
| 2023 |  | 2022
| (In thousands)
Domestic | $ | 70,912 |  |  | $ | (126,810) |
Foreign | (3,486) |  |  | (340) |
Total | $ | 67,426 |  |  | $ | (127,150) |
Schedule of Effective Income Tax Rate Reconciliation | For purposes of reconciling the Company’s provision for income taxes at the statutory rate and the Company’s income tax (benefit) at the effective tax rate, a notional 21% tax rate was applied as follows:
| Years Ended December 31,
| 2023 |  | 2022
Statutory federal tax rate - expense (benefit) | 21 | % |  | (21) | %
Foreign rate differential | 3 | % |  | — | %
Noncontrolling interests in operating subsidiaries | (1) | % |  | (2) | %
Nondeductible permanent items | (1) | % |  | — | %
Expired tax attributes | 6 | % |  | 6 | %
Foreign tax credits | (3) | % |  | — | %
Derivative fair value adjustment | (3) | % |  | (2) | %
Valuation allowance | (27) | % |  | 7 | %
Other | 1 | % |  | (1) | %
Effective income tax rate | (2) | % |  | (13) | %
Schedule of Components of Income Tax Expense (Benefit) | Acacia’s income tax benefit for the periods presented consisted of the following:
| Years Ended December 31,
| 2023 |  | 2022
| (In thousands)
Current: |  |  |
Federal | $ | (215) |  |  | $ | (54) |
State | 37 |  |  | (482) |
Foreign | (1,975) |  |  | (606) |
Total current | (2,153) |  |  | (1,142) |
Deferred: |  |  |
Federal | (14,041) |  |  | 24,789 |
State | (925) |  |  | 259 |
Foreign | 593 |  |  | (28) |
Total deferred | (14,373) |  |  | 25,020 |
Change in valuation allowance | 18,030 |  |  | (7,667) |
Income tax benefit | $ | 1,504 |  |  | $ | 16,211 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences and carryforwards that give rise to significant portions of deferred tax assets and liabilities consisted of the following:
| December 31,
| 2023 |  | 2022
| (In thousands)
Deferred tax assets: |  |  |
Net operating loss and capital loss carryforwards and credits | $ | 34,595 |  |  | $ | 47,386 |
Unrealized gain on investments held at fair value | 146 |  |  | 35 |
Compensation expense for share-based awards | 1,095 |  |  | 607 |
Accrued liabilities and other | 1,453 |  |  | 1,551 |
Lease liability | 689 |  |  | 784 |
State taxes | 37 |  |  | 94 |
Total deferred tax assets | 38,015 |  |  | 50,457 |
Valuation allowance | (30,219) |  |  | (48,250) |
Total deferred tax assets, net of valuation allowance | 7,796 |  |  | 2,207 |
Deferred tax liabilities: |  |  |
ROU Asset | (680) |  |  | (782) |
Fixed assets and intangibles | (1,841) |  |  | (2,166) |
Basis of investment in affiliates | (2,360) |  |  | — |
Other | — |  |  | — |
Total deferred tax liabilities | (4,881) |  |  | (2,948) |
Net deferred tax assets (liabilities) | $ | 2,915 |  |  | $ | (742) |
Schedule of Unrecognized Tax Benefits Roll Forward | The following changes occurred in the amount of unrecognized tax benefits:
| Years Ended December 31,
| 2023 |  | 2022
| (In thousands)
Beginning balance | $ | 760 |  |  | $ | 887 |
Additions for current year tax positions | — |  |  | — |
Additions included in purchase accounting for prior year positions | — |  |  | — |
Reductions for prior year tax positions | (3) |  |  | (127) |
Ending Balance (excluding interest and penalties) | 757 |  |  | 760 |
Interest and penalties | — |  |  | — |
Total | $ | 757 |  |  | $ | 760 |

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