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Component: (Network and Table)
Network
100350 - Disclosure - Income Taxes (Tables)
(http://www.adverum.com/20161231/taxonomy/role/DisclosureIncomeTaxesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Income Tax Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Income Tax Disclosure [Abstract]
 
Schedule of Components of Loss Before Income Taxes

The following table presents domestic and foreign components of loss before provision for income taxes (in thousands):

 

 

 

Years ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

U.S.

 

$

(96,498

)

 

$

(47,235

)

 

$

(25,006

)

Foreign

 

 

(18,024

)

 

 

(218

)

 

 

(398

)

Loss before income taxes

 

$

(114,522

)

 

$

(47,453

)

 

$

(25,404

)

 

 
 
Schedule of Reconciliation of Income Tax Expense Computed Statutory Federal Income Tax and Financial Statements

A reconciliation of income tax expense computed at the statutory federal income tax rate of 34% to income taxes as reflected in the financial statements is as follows (in thousands):

 

 

 

Years ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Federal income tax expense at statutory rate

 

$

(38,938

)

 

$

(16,134

)

 

$

(8,637

)

Loss on extinguishment of related-party convertible notes

 

 

 

 

 

 

 

 

69

 

Non-deductible foreign research expenses

 

 

21

 

 

 

45

 

 

 

85

 

Non-deductible stock compensation

 

 

1,356

 

 

 

1,418

 

 

 

161

 

Non-deductible expenses

 

 

985

 

 

 

295

 

 

 

285

 

Goodwill impairment

 

 

16,834

 

 

 

 

 

 

 

 

 

Research and development tax credits

 

 

(326

)

 

 

(910

)

 

 

(304

)

Change in valuation allowance

 

 

16,062

 

 

 

15,277

 

 

 

8,349

 

Foreign rate differential

 

 

3,231

 

 

 

9

 

 

 

(8

)

Total tax expense (benefit)

 

$

(775

)

 

$

 

 

$

 

 

 
 
Schedule of Deferred Tax Assets

The following table presents significant components of the Company’s deferred tax assets (in thousands):

 

 

 

As of December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Deferred tax assets:

 

 

 

 

 

 

 

 

 

 

 

 

Net operating loss carryforwards

 

$

15,785

 

 

$

19,889

 

 

$

8,526

 

Accruals, reserve and other

 

 

3,071

 

 

 

2,681

 

 

 

222

 

Stock-based compensation

 

 

3,848

 

 

 

4,328

 

 

 

3,032

 

Tax credit carryforwards

 

 

574

 

 

 

1,945

 

 

 

659

 

Property and equipment

 

 

54

 

 

 

 

 

 

 

Intangibles

 

 

68

 

 

 

45

 

 

 

24

 

Other

 

 

 

 

 

 

 

 

24

 

Total deferred tax assets before valuation allowance

 

 

23,400

 

 

 

28,888

 

 

 

12,487

 

Valuation allowance

 

 

(23,400

)

 

 

(28,839

)

 

 

(12,457

)

Total deferred tax assets

 

 

 

 

 

49

 

 

 

30

 

Deferred tax liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Property and equipment

 

 

 

 

 

(49

)

 

 

(30

)

IPR&D

 

 

(1,250

)

 

 

 

 

 

 

Total deferred tax liabilities

 

$

(1,250

)

 

$

(49

)

 

$

(30

)

Net deferred tax assets

 

$

 

 

$

 

 

$

 

 

 
 
Schedule of Unrecognized Tax Benefits

A reconciliation of the unrecognized tax benefits is as follows (in thousands):

 

 

 

Years ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Unrecognized tax benefits as of the beginning of the year

 

$

1,568

 

 

$

471

 

 

$

43

 

Increase (decrease) related to prior year tax provisions

 

 

 

 

 

172

 

 

 

272

 

Increase related to current year tax provisions

 

 

589

 

 

 

925

 

 

 

156

 

Unrecognized tax benefits as of the end of the year

 

$

2,157

 

 

$

1,568

 

 

$

471