Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

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)	2021		2020		2019
U.S.	$	(76,389)	$	(5,495)	$	25,432
International	1,351		(5,984)		3,195
(Loss) income before income taxes	$	(75,038)	$	(11,479)	$	28,627

Schedule of income tax (benefit) expense

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

	Year Ended December 31,
(in thousands)	2021		2020		2019
Current
Federal	$	—	$	—	$	287
State	(8,166)		3,158		(13,166)
International	(30)		170		114
	(8,196)		3,328		(12,765)
Deferred
Federal	1,048		(1,506)		8,712
State	3,058		(178)		790
International	331		350		223
	4,437		(1,334)		9,725
Income tax (benefit) expense	$	(3,759)	$	1,994	$	(3,040)

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)	2021		2020		2019
U.S. statutory rate	$	(15,758)	$	(2,411)	$	6,012
Permanent items	1,764		1,176		3,210
Acquisition costs - Progenics	—		2,723		—
Recognition of deferred tax asset - assets held for sale	—		(3,000)		—
Section 162(m)	1,028		717		527
Uncertain tax positions	(8,952)		2,818		(13,156)
Other tax credits	(990)		(1,065)		(1,685)
State and local taxes	656		1,457		1,914
Impact on deferred taxes of change in tax rate	3,049		—		—
Non-deductible changes in fair value of contingent assets and liabilities	15,015		230		—
Foreign tax rate differential	23		(254)		(238)
Valuation allowance	(400)		(318)		(22)
Benefit of windfall related to stock compensation	(1,164)		(128)		(2,768)
Change in indemnification deferred tax asset	1,786		(590)		2,531
Other	184		639		635
Income tax (benefit) expense	$	(3,759)	$	1,994	$	(3,040)

Schedule of components of deferred incomes tax assets (liabilities)

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

	December 31,
(in thousands)	2021		2020
Deferred Tax Assets
Federal benefit of state tax liabilities	$	4,292	$	5,867
Reserves, accruals and other	27,159		32,030
Inventory obsolescence	297		404
Capitalized research and development	768		2,553
Amortization of intangibles other than goodwill	502		1,325
Net operating loss carryforwards	122,944		127,369
Depreciation	1,102		1,014
Deferred tax assets	157,064		170,562
Deferred Tax Liabilities
Reserves, accruals and other	(3,026)		(5,676)
Intangible assets	(87,351)		(91,283)
Deferred tax liability	(90,377)		(96,959)
Less: valuation allowance	(3,923)		(3,456)
	$	62,764	$	70,147
Recorded in the accompanying consolidated balance sheets as:
Noncurrent deferred tax assets, net	$	62,764	$	70,147

Schedule of valuation allowance

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

(in thousands)	Amount
Balance, January 1, 2020	$	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
Charged to income tax (benefit) expense	(189)
Adjustment related to Progenics acquired deferred assets	867
Foreign currency	(211)
Balance, December 31, 2021	$	3,923

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

A reconciliation of the Company’s changes in uncertain tax positions for 2021 and 2020 is as follows:

(in thousands)	Amount
Balance of uncertain tax positions as of January 1, 2020	$	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
Additions related to current year tax positions	—
Reductions related to prior year tax positions	(188)
Settlements	(1,446)
Lapse of statute of limitations	—
Balance of uncertain tax positions as of December 31, 2021	$	3,658