Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2015 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Income before Income Tax, Domestic and Foreign |
United States and foreign income (loss) from continuing operations before income taxes was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
December 31, |
|
December 31, |
|
2015 |
|
2014 |
|
2013 |
United States |
$ |
(9,949 |
) |
|
$ |
(51,809 |
) |
|
$ |
(99,503 |
) |
Foreign |
9,444 |
|
|
5,189 |
|
|
(13,399 |
) |
Pretax loss from operations |
$ |
(505 |
) |
|
$ |
(46,620 |
) |
|
$ |
(112,902 |
) |
|
| Schedule of Components of Income Tax Expense (Benefit) |
The income tax provision based on the income (loss) from continuing operations was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
December 31, |
|
December 31, |
|
2015 |
|
2014 |
|
2013 |
Current: |
|
|
|
|
|
Federal |
$ |
932 |
|
|
$ |
2,724 |
|
|
$ |
1,878 |
|
State |
355 |
|
|
114 |
|
|
7 |
|
Foreign |
6,786 |
|
|
12,804 |
|
|
4,858 |
|
|
$ |
8,073 |
|
|
$ |
15,642 |
|
|
$ |
6,743 |
|
Deferred: |
|
|
|
|
|
Federal |
$ |
(2,691 |
) |
|
$ |
(451 |
) |
|
$ |
(2,742 |
) |
State |
— |
|
|
37 |
|
|
3 |
|
Foreign |
(3,761 |
) |
|
(4,654 |
) |
|
(2,165 |
) |
|
(6,452 |
) |
|
(5,068 |
) |
|
(4,904 |
) |
Total provision |
$ |
1,621 |
|
|
$ |
10,574 |
|
|
$ |
1,839 |
|
|
| Schedule of Effective Income Tax Rate Reconciliation |
Income taxes differ from the amounts computed by applying the federal income tax rate 35%. A reconciliation of this difference is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
December 31, |
|
December 31, |
|
2015 |
|
2014 |
|
2013 |
Income tax benefit at Federal statutory rate |
$ |
(177 |
) |
|
$ |
(16,317 |
) |
|
$ |
(39,512 |
) |
State income tax, net of federal benefit |
418 |
|
|
4 |
|
|
(384 |
) |
Permanent items |
5,276 |
|
|
3,221 |
|
|
25,374 |
|
Stock compensation |
375 |
|
|
1,575 |
|
|
(82 |
) |
Tax credits |
(586 |
) |
|
(626 |
) |
|
(3,093 |
) |
Other |
746 |
|
|
(1,376 |
) |
|
1,463 |
|
Uncertain tax positions |
708 |
|
|
2,597 |
|
|
95 |
|
Withholding taxes |
3,431 |
|
|
3,386 |
|
|
2,831 |
|
Rate differential |
(3,200 |
) |
|
(2,050 |
) |
|
5,783 |
|
Rate adjustment |
(1,371 |
) |
|
— |
|
|
60 |
|
Change in valuation allowance |
(3,999 |
) |
|
20,160 |
|
|
9,304 |
|
|
$ |
1,621 |
|
|
$ |
10,574 |
|
|
$ |
1,839 |
|
|
| Schedule of Deferred Tax Assets and Liabilities |
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the deferred taxes were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
December 31, |
|
December 31, |
|
2015 |
|
2014 |
Deferred tax assets: |
|
|
|
Intangible assets |
$ |
7,624 |
|
|
$ |
11,031 |
|
Allowances and reserves |
2,925 |
|
|
2,843 |
|
Accrued expenses |
8,398 |
|
|
4,134 |
|
Inventory |
567 |
|
|
567 |
|
Investments in affiliates |
443 |
|
|
— |
|
Stock compensation |
4,527 |
|
|
2,611 |
|
Other |
2,589 |
|
|
— |
|
Tax credits |
4,714 |
|
|
5,358 |
|
Net operating losses |
38,923 |
|
|
55,944 |
|
Total gross deferred tax asset |
70,710 |
|
|
82,488 |
|
Less valuation allowance |
(53,199 |
) |
|
(73,659 |
) |
Net deferred tax assets |
$ |
17,511 |
|
|
$ |
8,829 |
|
|
|
|
|
Deferred tax liabilities: |
|
|
|
Fixed assets |
$ |
(2,756 |
) |
|
$ |
(1,185 |
) |
Intangible assets |
(28,240 |
) |
|
(24,847 |
) |
Investments in affiliates |
— |
|
|
(47 |
) |
Other |
(8,136 |
) |
|
(1,095 |
) |
Total deferred tax liabilities: |
(39,132 |
) |
|
(27,174 |
) |
Net deferred tax liabilities |
$ |
(21,621 |
) |
|
$ |
(18,345 |
) |
|
|
|
|
|
|
|
|
|
|
December 31, |
|
December 31, |
Presented on the balance sheet as follows (in thousands): |
2015 |
|
2014 |
Deferred tax assets: |
|
|
|
Net current deferred assets |
$ |
— |
|
|
$ |
4,719 |
|
Net noncurrent deferred assets |
703 |
|
|
346 |
|
Total deferred tax assets |
$ |
703 |
|
|
$ |
5,065 |
|
|
|
|
|
Deferred tax liabilities: |
|
|
|
Net current deferred tax liabilities |
$ |
— |
|
|
$ |
(80 |
) |
Net noncurrent deferred tax liabilities |
(22,324 |
) |
|
(23,330 |
) |
Total deferred tax liabilities |
$ |
(22,324 |
) |
|
$ |
(23,410 |
) |
|
| Schedule of Unrecognized Tax Benefits Roll Forward |
The following table summarizes the changes to unrecognized tax benefits for the years ended December 31, 2015 and 2014 (in thousands):
|
|
|
|
|
|
|
|
|
|
2015 |
|
2014 |
Balance at beginning of year |
$ |
4,237 |
|
|
$ |
2,831 |
|
Reversal of prior tax positions |
— |
|
|
(1,795 |
) |
Additions based on tax positions related to the current year |
400 |
|
|
3,201 |
|
Balance at end of year |
$ |
4,637 |
|
|
$ |
4,237 |
|
|
| Summary of Valuation Allowance |
The following table summarizes the changes in the valuation allowance balance for the years ended December 31, 2015, 2014 and 2013 (in thousands):
|
|
|
|
|
Balance at December 31, 2012 |
$ |
39,122 |
|
Acquired valuation allowance from purchased acquisitions |
2,356 |
|
Increase in valuation allowance |
9,304 |
|
Balance at December 31, 2013 |
$ |
50,782 |
|
Increase in valuation allowance |
22,877 |
|
Balance at December 31, 2014 |
$ |
73,659 |
|
Acquired valuation allowance from purchased acquisitions |
(1,400 |
) |
Decrease in valuation allowance |
(19,060 |
) |
Balance at December 31, 2015 |
$ |
53,199 |
|
|