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v3.19.1

Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2018
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, |
|  | 2018 |  | 2017 |  | 2016 |
Current: |  |  |  |  |  |  |  |  |  |
Federal |  | $ | — |  | $ | — |  | $ | — |
State |  |  | 5 |  |  | 2 |  |  | 4 |
Foreign |  |  | 933 |  |  | 790 |  |  | 729 |
Total current |  |  | 938 |  |  | 792 |  |  | 733 |
Deferred: |  |  |  |  |  |  |  |  |  |
Federal |  |  | — |  |  | — |  |  | — |
State |  |  | — |  |  | — |  |  | — |
Total deferred |  |  | — |  |  | — |  |  | — |
Total provision for income taxes |  | $ | 938 |  | $ | 792 |  | $ | 733 |
Reconciliation of the effective income tax rates and the U.S. statutory federal income tax rate |
|  | Year Ended December 31, |
|  | 2018 |  | 2017 |  | 2016 |
Statutory federal income tax rate |  | 21.0 | % | 35.0 | % | 35.0 | %
State income taxes, net of federal tax benefits |  | — |  | — |  | — |
Valuation allowance |  | (2.6) |  | (139.5) |  | (7.1) |
Rate change |  | — |  | 100.8 |  | — |
Stock-based compensation |  | 0.3 |  | (10.4) |  | 1.2 |
Foreign tax rate differential |  | (11.4) |  | (10.3) |  | (12.2) |
Foreign tax incentives |  | (2.9) |  | (7.0) |  | (13.6) |
Dividend from unconsolidated affiliates |  | — |  | — |  | 1.5 |
Foreign income inclusion |  | 2.6 |  | 55.6 |  | — |
Section 78 gross up |  | — |  | 11.7 |  | — |
Foreign tax credit |  | — |  | (30.6) |  | — |
Tax effect in equity method loss or gain from unconsolidated affiliates |  | 3.2 |  | 2.9 |  | 8.3 |
Foreign-derived intangible income |  | (2.4) |  | — |  | — |
Other |  | 0.1 |  | (0.9) |  | (0.2) |
Effective tax rate |  | 7.9 | % | 7.3 | % | 12.9 | %
Deferred tax assets and liabilities | Deferred tax assets and liabilities are summarized below (in thousands):
|  | As of December 31, |
|  | 2018 |  | 2017 |
Deferred tax assets: |  |  |  |  |  |  |
Net operating loss |  | $ | 15,735 |  | $ | 14,203 |
Accruals and reserves not yet deductible |  |  | 2,100 |  |  | 3,133 |
Credits |  |  | 1,685 |  |  | 4,809 |
|  |  | 19,520 |  |  | 22,145 |
Deferred tax liabilities: |  |  |  |  |  |  |
Valuation of investment portfolio |  |  | — |  |  | — |
|  |  | — |  |  | — |
Net deferred tax assets |  |  | 19,520 |  |  | 22,145 |
Valuation allowance |  |  | (19,520) |  |  | (22,145) |
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, |
|  | 2018 |  | 2017 |  | 2016 |
Gross unrecognized tax benefits balance at beginning of the year |  | $ 14,557 |  | $ 14,557 |  | $ 14,557 |
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 |  | — |  | — |  | — |
Gross unrecognized tax benefits balance at end of the year |  | $ 14,557 |  | $ 14,557 |  | $ 14,557 |

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- 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
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