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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes

Components of the provision (benefits) for income taxes

The components of the provision for income taxes are summarized below (in thousands):

		Year Ended December 31,
		2016			2015			2014
Current:
Federal		$	—		$	—		$	—
State			4			2			2
Foreign			729			529			213
Total current			733			531			215
Deferred:
Federal			—			—			—
State			—			—			—
Total deferred			—			—			—
Total net provision for income taxes		$	733		$	531		$	215

Reconciliation of the effective income tax rates and the U.S. statutory federal income tax rate

		Year Ended December 31,
		2016		2015		2014
Statutory federal income tax rate		35.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefits		—		—		(0.2)
Valuation allowance		(7.0)		(46.1)		(106.3)
Stock-based compensation		1.2		(9.4)		(26.1)
Foreign tax rate differential		(12.1)		29.3		104.2
Foreign tax incentives		(13.5)		24.1		64.7
Dividend from unconsolidated affiliates		1.5		(57.8)		(169.8)
Tax effect in equity method loss or gain from unconsolidated affiliates		8.2		1.1		45.6
Other		(0.2)		(0.1)		14.4
Effective tax rate		13.1	%	(23.9)	%	(38.5)	%

Deferred tax assets and liabilities

Deferred tax assets and liabilities are summarized below (in thousands):

		As of December 31,
		2016			2015
Deferred tax assets:
Net operating loss		$	62,459		$	60,538
Accruals and reserves not yet deductible			4,520			3,723
Credits			1,488			1,488
			68,467			65,749
Deferred tax liabilities:
Valuation of investment portfolio			—			—
			—			—
Net deferred tax assets			68,467			65,749
Valuation allowance			(68,467)			(65,749)
Net deferred tax assets		$	—		$	—

Reconciliation of the beginning and ending amount of the gross unrecognized tax benefit

A reconciliation of the beginning and ending amount of the gross unrecognized tax benefits is as follows (in thousands):

		Year Ended December 31,
		2016		2015		2014
Gross unrecognized tax benefits balance at beginning of the year		$ 14,557		$ 16,403		$ 16,403
Add:
Additions based on tax positions related to the current year		—		—		—
Additions for tax positions of prior years		—		—		—
Less:
Decrease related to lapse of statute of limitations		—		(1,846)		—
Gross unrecognized tax benefits balance at end of the year		$ 14,557		$ 14,557		$ 16,403

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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
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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Tabular disclosure of the change in unrecognized tax benefits.

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-Publisher FASB
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-SubTopic 10
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