Income Taxes

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income TaxesTax provisions for interim periods are calculated using an estimate of actual taxable income or loss for the respective period, rather than estimating the Company's annual effective income tax rate, as the Company is currently unable to reliably estimate its income for the full year. The Company has U.S. taxable loss of approximately $5,300 and $40,400 for the three months ended March 31, 2022 and 2021, respectively. The following table presents the components of income tax benefit from continuing operations.

	Three Months Ended   March 31,
	2022		2021
Current foreign income tax expense from continuing operations	$	—	$	4
Deferred income tax benefit from continuing operations	(58)		(56)
Total income tax benefit from continuing operations	$	(58)	$	(52)

The Company's net deferred tax assets, excluding certain deferred tax liabilities totaling $2,438, are offset by a valuation allowance due to the Company's history of net losses combined with an inability to confirm recovery of the tax benefits of the Company's losses and other net deferred tax assets. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment.

As of March 31, 2022, the Company had net operating loss carryforwards for U.S. federal income tax purposes of approximately $861,000 available to offset future taxable income, including approximately $609,000 generated after 2017, U.S. capital loss carryforwards of approximately $212,500, and federal and state research and development tax credits of approximately $11,300, prior to consideration of annual limitations that may be imposed under Section 382 of the Internal Revenue Code of 1986, as amended. Net operating loss carryforwards generated prior to 2018 have begun to expire in 2022, and capital loss carryforwards will expire if unutilized beginning in 2024. As of March 31, 2022, the Company's foreign subsidiaries have foreign loss carryforwards of approximately $74,200, most of which do not expire.