INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of income before income tax, domestic and foreign

Income (loss) before provision for taxes consisted of the following:

	Year Ended December 31,
(In thousands)	2022		2021		2020
Income (loss) before income taxes:
Domestic	$	(617,240)	$	(801,536)	$	(423,025)
Foreign	(15,330)		(40,970)		(406,038)
Total income (loss) before income taxes	$	(632,570)	$	(842,506)	$	(829,063)

Schedule of expense (benefit) for income taxes

The expense (benefit) for income taxes consists of:

	Year Ended December 31,
(In thousands)	2022		2021		2020
Current expense (benefit):
Federal	$	—	$	—	$	(3)
State	2,170		1,388		802
Foreign	1,131		4,898		933
Deferred tax expense (benefit):
Federal	(3,292)		(222,693)		(3,050)
State	(8,926)		(30,528)		(4,260)
Foreign	(147)		54		120
Total income tax expense (benefit)	$	(9,064)	$	(246,881)	$	(5,458)

Schedule of components of the net deferred tax asset

The components of the net deferred tax asset with the approximate income tax effect of each type of carryforward, credit and temporary differences are as follows:

	December 31,
(In thousands)	2022		2021
Deferred tax assets:
Operating loss carryforwards	$	553,320	$	516,344
Tax credit carryforwards	87,579		72,959
Compensation related differences	67,976		74,127
Lease liabilities	51,560		48,201
Capitalized research and development	108,117		23,035
Other temporary differences	19,353		20,087
Tax assets before valuation allowance	887,905		754,753
Less - Valuation allowance	(419,356)		(262,238)
Total deferred tax assets	468,549		492,515
Deferred tax liabilities
Amortization	$	(435,991)	$	(464,748)
Property, plant and equipment	(4,653)		(4,756)
Lease assets	(40,674)		(45,781)
Other temporary differences	(6,944)		(6,012)
Total deferred tax liabilities	(488,262)		(521,297)
Net deferred tax liabilities	$	(19,713)	$	(28,782)

Summary of valuation allowance

Activity associated with the Company's valuation allowance is as follows:

	December 31,
(In thousands)	2022		2021		2020
Balance as of January 1,	$	(262,238)	$	(293,397)	$	(195,401)
Valuation allowances established	(159,919)		(206,574)		(94,589)
Changes to existing valuation allowances	2,780		(1,500)		2,151
Acquisition and purchase accounting	21		239,233		(5,558)
Balance as of December 31,	$	(419,356)	$	(262,238)	$	(293,397)

Schedule of differences between the effective income tax rate and the statutory tax rate

The effective tax rate differs from the statutory tax rate due to the following:

	December 31,
	2022		2021		2020
U.S. Federal statutory rate	21.0	%	21.0	%	21.0	%
State taxes	3.9		3.6		1.7
Federal and state tax rate changes	(0.2)		(0.3)		—
Foreign tax rate differential	(0.1)		(0.6)		(1.0)
Acquired IPR&D asset expense	—		(0.8)		(9.4)
Research and development tax credits	2.3		0.7		1.6
Stock-based compensation expense	(2.0)		1.1		1.1
Non-deductible executive compensation	(0.4)		(0.2)		(0.8)
Transaction costs	—		(0.1)		(0.1)
Other adjustments	1.2		1.2		(2.2)
Valuation allowance	(24.4)		3.7		(11.3)
Effective tax rate	1.3	%	29.3	%	0.6	%

Schedule of unrecognized tax benefits

The following is a tabular reconciliation of the amounts of unrecognized tax benefits:

	December 31,
(In thousands)	2022		2021		2020
January 1,	$	21,780	$	16,629	$	10,276
Increase due to current year tax positions	5,861		5,363		3,600
Increase due to prior year tax positions	629		—		2,753
Decrease due to prior year tax positions	—		(212)		—
Settlements	—		—		—
December 31,	$	28,270	$	21,780	$	16,629