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Income Taxes
9 Months Ended
Sep. 30, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
Valuation Allowances
As of September 30, 2017, the Company recorded a full valuation allowance in Asia Pacific of $1.6 million related to beginning of the year deferred tax assets in the region due to the projected cumulative loss position in the most recent forecast.
The Company has evaluated the need for a valuation allowance in the remaining jurisdictions based on the most recent forecast, cumulative loss position, reversing taxable temporary differences and allowable carrybacks and determined that no additional valuation allowances are required. The Company will continue to monitor the need for a further valuation adjustment as the year progresses.
Uncertain Tax Positions (UTPs)
As of September 30, 2017, the Company has accrued liabilities for tax exposures of $2.2 million related to tax on service revenue in Saudi Arabia, an increase of $168,000 from year end recorded as a discrete period tax in the quarter ended September 30, 2017. The Company recognized deductions related to the UK patent box. This resulted in the Company recording a discrete tax benefit in the amount of $8.2 million.
The Company has reviewed its various tax positions around the world including the impact of any tax authority audits or inquiry and determined that no additional UTPs were required.