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Income Taxes
6 Months Ended
Jun. 30, 2016
Income Tax Disclosure [Abstract]  
Income Taxes

6.

Income Taxes

The benefit from income taxes for the three and six months ended June 30, 2016 was due to the discrete tax effect arising from other comprehensive income related to available-for-sale securities. The provision for income taxes for the three months ended June 30, 2015 was due to the discrete tax effect arising from a change in the valuation of the Company’s available-for-sale securities portfolio. The benefit from income taxes for the six months ended June 30, 2015 was due to the discrete tax effect arising from other comprehensive income related to available-for-sale securities.

Based upon the weight of available evidence, which includes its historical operating performance, reported cumulative net losses since inception and expected continuing net loss, the Company has established and continue to maintain a full valuation allowance against its deferred tax assets as it does not currently believe that realization of those assets is more likely than not.