INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Provision for (Benefit from) Income Taxes Based on Income (Loss) Before Income Taxes

The provision for (benefit from) income taxes is based on income/(loss) before income taxes as follows:

	Years Ended December 31,
	2015			2014			2013
U.S. Source	$	182,215		$	49,411		$	46,675
Non-U.S. Source		(336,939	)		(174,279	)		(223,178	)
Loss before income taxes	$	(154,724	)	$	(124,868	)	$	(176,503	)

Schedule of Components of Provision for (Benefit From) Income Taxes

The U.S. and foreign components of the provision for (benefit from) income taxes are as follows:

	Years Ended December 31,
	2015			2014			2013
Provision for current income tax expense:
Federal		84,743			28,093			5,060
State and local		5,323			3,011			1,496
Foreign		3,836			3,614			2,199
		93,902			34,718			8,755
Provision for (benefit from) deferred income tax expense:
Federal		(17,741	)		(20,367	)		(6,084	)
State and local		(8,770	)		(4,982	)		(2,658	)
Foreign		(50,316	)		(268	)		(163	)
		(76,827	)		(25,617	)		(8,905	)
Provision for (benefit from) income taxes	$	17,075		$	9,101		$	(150	)

Schedule of Reconciliation of Statutory Federal Income Tax Rate to Company's Effective Income Tax Rate

The following is a reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate expressed as a percentage of income/(loss) before income taxes:

	Years Ended December 31,
	2015			2014			2013
Federal statutory income tax rate		35.0	%		35.0	%		35.0	%
State and local taxes		(2.2	)%		(1.6	)%		(0.3	)%
Orphan Drug & General Business Credit		34.8	%		29.3	%		14.7	%
Stock compensation expense		(2.8	)%		(2.4	)%		(1.7	)%
Changes in the fair value of contingent acquisition consideration payable		0.2	%		(3.6	)%		(2.9	)%
Subpart F income		(8.4	)%		(9.2	)%	—
Foreign tax rate differential		(46.2	)%		(51.5	)%		(45.4	)%
Other		(2.9	)%		(3.6	)%		1.6	%
Valuation allowance/Deferred benefit		(18.5	)%		0.3	%		(0.9	)%
Effective income tax rate		(11.0	)%		(7.3	)%		0.1	%

Schedule of Components of Net Deferred Tax Assets

The significant components of the Company’s net deferred tax assets are as follows:

	December 31,
	2015			2014
Net deferred tax assets:
Net operating loss carryforwards	$	44,942		$	16,208
Tax credit carryforwards		143,987			171,840
Accrued expenses, reserves, and prepaids		79,029			30,626
Intangible assets		16,177			14,550
Stock-based compensation		49,322			34,133
Inventory		18,942			14,108
Impairment and capital loss carryforwards		5,005			1,997
Other		1,155			928
Valuation allowance		(67,708	)		(7,812	)
Total deferred tax assets		290,851			276,578

Joint venture basis difference		(1,888	)		(1,781	)
Acquired intangibles		(162,689	)		(33,049	)
Convertible notes discount		(32,162	)		(39,317	)
Property, plant and equipment		(13,192	)		(4,932	)
Unrealized gains		(4,256	)		(6,525	)
Total deferred tax liabilities		(214,187	)		(85,604	)
Net deferred tax assets	$	76,664		$	190,974

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2015 is as follows:

	December 31,
	2015		2014
Balance at beginning of period	$	71,663	$	50,815
Additions based on tax positions related to the current year		13,614		20,303
Additions for tax positions of prior years		1,454		545
Balance at end of period	$	86,731	$	71,663