| Statement [Line Items] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Reconciliation of Total Amounts of Unrecognized Tax Benefits |
The following is a
reconciliation of the total amounts of unrecognized tax benefits
for the years ended December 31, 2016, 2015 and
2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
| In thousands |
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Beginning uncertain tax
benefits
|
|
$ |
1,550 |
|
|
$ |
2,487 |
|
|
$ |
1,674 |
|
|
Prior
year—increases
|
|
|
— |
|
|
|
120 |
|
|
|
— |
|
|
Prior
year—decreases
|
|
|
— |
|
|
|
(762 |
) |
|
|
— |
|
|
Current
year—increases
|
|
|
83 |
|
|
|
144 |
|
|
|
1,067 |
|
|
Current
year—decreases for lapses in statutes of
limitations
|
|
|
— |
|
|
|
(439 |
) |
|
|
(254 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending uncertain tax
benefits
|
|
$ |
1,633 |
|
|
$ |
1,550 |
|
|
$ |
2,487 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jurisdictions the Company Remains Subject to Tax Examinations |
The Company
files income tax returns in the United States, Ireland and United
Kingdom, or UK. The Company remains subject to tax examinations in
the following jurisdictions as of December 31,
2016:
|
|
|
|
|
|
Jurisdiction
|
|
Tax Years |
|
|
United
States—Federal
|
|
|
2013-2016 |
|
|
United
States—State
|
|
|
2012-2016 |
|
|
Ireland
|
|
|
2012-2016 |
|
|
United Kingdom
|
|
|
2015-2016 |
|
|
Components of Loss from Operations Before Taxes |
The components of loss from
operations before taxes were as follows for the years ended
December 31, 2016, 2015 and 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
| In thousands |
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
United States
|
|
$ |
(8,115 |
) |
|
$ |
(10,137 |
) |
|
$ |
(7,331 |
) |
|
Ireland and United
Kingdom
|
|
|
(68,266 |
) |
|
|
(108,153 |
) |
|
|
(51,870 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(76,381 |
) |
|
$ |
(118,290 |
) |
|
$ |
(59,201 |
) |
|
Benefit from Income Taxes |
The (provision for) benefit
from income taxes shown in the accompanying consolidated statements
of operations consists of the following for fiscal 2016, 2015 and
2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
| In thousands |
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Current:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal-U.S.
|
|
$ |
1,033 |
|
|
$ |
1,053 |
|
|
$ |
660 |
|
|
State-U.S.
|
|
|
138 |
|
|
|
113 |
|
|
|
117 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current
|
|
$ |
1,171 |
|
|
$ |
1,166 |
|
|
$ |
777 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal-U.S.
|
|
|
(4,001 |
) |
|
|
(3,343 |
) |
|
|
(3,689 |
) |
|
State-U.S.
|
|
|
(334 |
) |
|
|
(605 |
) |
|
|
(226 |
) |
|
Ireland and United
Kingdom
|
|
|
(143 |
) |
|
|
(9,023 |
) |
|
|
3,335 |
|
|
Change in valuation
allowance
|
|
|
13,276 |
|
|
|
8,719 |
|
|
|
(3,034 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total deferred
|
|
$ |
8,798 |
|
|
$ |
(4,252 |
) |
|
$ |
(3,614 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for (benefit
from) income taxes
|
|
$ |
9,969 |
|
|
$ |
(3,086 |
) |
|
$ |
(2,837 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Difference between Benefit from Income Taxes and Amount Computed by Applying Statutory Income Tax Rate to Income Before Taxes |
The (provision for) benefit
from income taxes differs from the amount computed by applying the
statutory income tax rate to income before taxes due to the
following for fiscal 2016, 2015 and 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
| In thousands |
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Benefits from taxes at
statutory rate
|
|
$ |
(19,039 |
) |
|
$ |
(29,572 |
) |
|
$ |
(14,786 |
) |
|
Rate
differential
|
|
|
4,667 |
|
|
|
8,572 |
|
|
|
9,493 |
|
|
Change in valuation
reserves
|
|
|
13,276 |
|
|
|
8,719 |
|
|
|
(3,034 |
) |
|
Derivative
liabilities
|
|
|
(668 |
) |
|
|
187 |
|
|
|
(2,706 |
) |
|
Gain on extinguishment of
debt
|
|
|
— |
|
|
|
(328 |
) |
|
|
(9,509 |
) |
|
Research and development
credits
|
|
|
(1,689 |
) |
|
|
(1,284 |
) |
|
|
(1,455 |
) |
|
Tax return to provision
adjustments
|
|
|
4,524 |
|
|
|
2,248 |
|
|
|
10,026 |
|
|
Cumulative translation
adjustment
|
|
|
7,385 |
|
|
|
7,811 |
|
|
|
8,061 |
|
|
Permanent and
other
|
|
|
(409 |
) |
|
|
(1,033 |
) |
|
|
1,073 |
|
|
Non-deductible interest
expense
|
|
|
1,922 |
|
|
|
1,594 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for (benefit
from) income taxes
|
|
$ |
9,969 |
|
|
$ |
(3,086 |
) |
|
$ |
(2,837 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Tax Effect of Each Type of Temporary Difference Comprising Net Deferred Tax Asset |
The income tax effect of
each type of temporary difference comprising the net deferred tax
asset as of December 31, 2016 and 2015 is as
follows:
|
|
|
|
|
|
|
|
|
| In thousands |
|
2016 |
|
|
2015 |
|
|
Deferred tax
assets:
|
|
|
|
|
|
|
|
|
|
Net operating
losses
|
|
$ |
88,345 |
|
|
$ |
88,996 |
|
|
Stock based
compensation
|
|
|
23,731 |
|
|
|
17,975 |
|
|
Depreciation
|
|
|
— |
|
|
|
74 |
|
|
Tax credits
|
|
|
6,893 |
|
|
|
6,030 |
|
|
Other reserves and accrued
liabilities
|
|
|
2,437 |
|
|
|
2,796 |
|
|
|
|
|
|
|
|
|
|
|
Gross deferred tax
assets
|
|
|
121,406 |
|
|
|
115,871 |
|
|
Less: valuation
allowance
|
|
|
(109,274 |
) |
|
|
(95,999 |
) |
|
|
|
|
|
|
|
|
|
|
Total deferred tax
assets
|
|
|
12,132 |
|
|
|
19,872 |
|
|
Deferred tax
liabilities:
|
|
|
|
|
|
|
|
|
|
Depreciation
|
|
|
(1,050 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
Total deferred tax
liabilities
|
|
|
(1,050 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
Net deferred tax
assets
|
|
$ |
11,082 |
|
|
$ |
19,872 |
|
|
|
|
|
|
|
|
|
|
|
Valuation Allowance |
The following table
reflects the activity in the valuation allowance for the years
ended December 31, 2016 and 2015:
|
|
|
|
|
|
|
|
|
| In thousands |
|
2016 |
|
|
2015 |
|
|
Beginning valuation
allowance
|
|
$ |
95,999 |
|
|
$ |
85,965 |
|
|
Increase as reflected in
income tax expense
|
|
|
17,951 |
|
|
|
16,291 |
|
|
Increase as reflected in
retained earnings
|
|
|
— |
|
|
|
1,315 |
|
|
Cumulative translation
adjustment
|
|
|
(4,676 |
) |
|
|
(7,572 |
) |
|
|
|
|
|
|
|
|
|
|
Ending valuation
allowance
|
|
$ |
109,274 |
|
|
$ |
95,999 |
|
|
|
|
|
|
|
|
|
|
|