Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of components of income before income taxes

The components of income before income taxes is summarized as follows:

	Year Ended December 31,
(in thousands)	2020		2019		2018
U.S.	$	(5,495)	$	25,432	46,945
International	(5,984)		3,195		2,603
(Loss) income before income taxes	$	(11,479)	$	28,627	$	49,548

Schedule of income tax (benefit) expense

The income tax expense (benefit) is summarized as follows:

	Year Ended December 31,
(in thousands)	2020		2019		2018
Current
Federal	$	—	$	287	$	(21)
State	3,158		(13,166)		3,424
International	170		114		(135)
	3,328		(12,765)		3,268
Deferred
Federal	(1,506)		8,712		7,821
State	(178)		790		1,411
International	350		223		(3,470)
	(1,334)		9,725		5,762
Income tax expense (benefit)	$	1,994	$	(3,040)	$	9,030

Schedule of reconciliation of income taxes at the U.S. federal statutory rate to the actual income taxes

The reconciliation of income taxes at the U.S. federal statutory rate to the actual income taxes is as follows:

	Year Ended December 31,
(in thousands)	2020		2019		2018
U.S. statutory rate	$	(2,411)	$	6,012	$	10,405
Permanent items	1,406		3,210		152
Acquisition costs - Progenics	2,723		—		—
Recognition of deferred tax asset - assets held for sale	(3,000)		—		—
Section 162(m)	717		527		353
Uncertain tax positions	2,818		(13,156)		3,227
Other tax credits	(1,065)		(1,685)		(742)
State and local taxes	1,457		1,914		2,125
Foreign tax rate differential	(254)		(238)		30
Valuation allowance	(318)		(22)		(4,073)
Benefit of windfall related to stock compensation	(128)		(2,768)		(1,760)
Change in indemnification deferred tax asset	(590)		2,531		(731)
Other	639		635		44
Income tax expense (benefit)	$	1,994	$	(3,040)	$	9,030

Schedule of components of deferred incomes tax assets (liabilities)

The components of deferred income tax assets (liabilities) are as follows:

	December 31,
(in thousands)	2020		2019
Deferred Tax Assets
Federal benefit of state tax liabilities	$	5,867	$	5,278
Reserves, accruals and other	32,030		15,026
Inventory obsolescence	404		550
Capitalized research and development	2,553		5,086
Amortization of intangibles other than goodwill	1,325		1,569
Net operating loss carryforwards	127,369		47,095
Depreciation	1,014		56
Deferred tax assets	170,562		74,660
Deferred Tax Liabilities
Reserves, accruals and other	(5,676)		(881)
Intangible assets	(91,283)		(707)
Deferred tax liability	(96,959)		(1,588)
Less: valuation allowance	(3,456)		(1,238)
	$	70,147	$	71,834
Recorded in the accompanying consolidated balance sheets as:
Noncurrent deferred tax assets, net	$	70,147	$	71,834

Schedule of valuation allowance

A summary of the changes in the Company’s valuation allowance is summarized below:

(in thousands)	Amount
Balance, January 1, 2019	$	1,240
Charged to income tax (benefit) expense	(22)
Foreign currency	20
Release valuation allowance	—
Balance, December 31, 2019	1,238
Charged to income tax (benefit) expense	311
Foreign currency	31
Increase due to Progenics acquisition	2,479
Release valuation allowance	(603)
Balance, December 31, 2020	$	3,456

Schedule of reconciliation of the Company's changes in uncertain tax positions

A reconciliation of the Company’s changes in uncertain tax positions for 2020 and 2019 is as follows:

(in thousands)	Amount
Balance of uncertain tax positions as of January 1, 2019	$	9,788
Additions related to current year tax positions	—
Reductions related to prior year tax positions	(4,496)
Settlements	—
Lapse of statute of limitations	—
Balance of uncertain tax positions as of December 31, 2019	5,292
Additions related to current year tax positions	—
Reductions related to prior year tax positions	—
Settlements	—
Lapse of statute of limitations	—
Balance of uncertain tax positions as of December 31, 2020	$	5,292