Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes

Schedule of components of the loss before income taxes

	Year Ended December 31,
(In thousands)	2018		2017		2016
Income (loss) before provision for income taxes:
Cayman Islands	$	14,838	$	(163,770)	$	(185,099)
United States		(69,695)		(33,374)		(18,441)
Ireland		(171,134)		(74,472)		23,323
United Kingdom		(94)		(95)		(342)
Total	$	(226,085)	$	(271,711)	$	(180,559)

Schedule of the components of the provision for income taxes

	Year Ended December 31,
(In thousands)	2018			2017			2016
Provision for income tax benefit (expense):
Current:
Cayman Islands	$	—		$	—		$	—
United States		10,563			(13,091)			(9,859)
Ireland		—			(566)			(219)
United Kingdom		(2)			(37)			(32)
Subtotal		10,561			(13,694)			(10,110)
Deferred		—			—			—
Total	$	10,561		$	(13,694)		$	(10,110)
Effective tax rate		4.67	%		(5.04)	%		(5.60)	%

Schedule of the differences between the Irish statutory income tax rate and the Company's effective tax rates

	Year Ended December 31,
	2018		2017		2016
Provision at statutory income tax rate	25.00	%	25.00	%	25.00	%
Foreign rate differential	(7.51)		(18.17)		(23.11)
Share-based compensation	0.28		1.52		(0.27)
Non-deductible executive compensation	(0.72)		(1.03)		(1.07)
Uncertain tax positions	(4.00)		(6.55)		(8.55)
Research and development tax credit carryforwards	1.79		1.21		1.93
Federal tax reform - Tax rate change	—		(4.66)		—
Foreign exchange loss	8.52		—		—
Change in valuation allowance	(18.82)		(5.15)		(0.89)
Other	0.13		2.79		1.36
Effective tax rate	4.67	%	(5.04)	%	(5.60)	%

Significant components of the Company's deferred tax assets and liabilities

	December 31,
(In thousands)	2018			2017
Deferred tax assets:
Net operating loss carryforwards	$	33,396	$	15,834
Capital loss carryforwards		19,409		—
Research and development tax credit carryforwards		8,508		6,504
Fixed assets and intangibles		285,821		3,746
Share-based compensation		12,479		11,140
Accruals		8,343		5,293
Other		—		248
Subtotal		367,956		42,765
Valuation allowance		(367,748)		(42,613)
Total deferred tax assets		208		152
Deferred tax liabilities:
Prepaid assets		(208)		(152)
Total deferred tax liabilities		(208)		(152)
Net deferred tax assets/liabilities	$	—	$	—

Reconciliation of unrecognized tax benefits

(In thousands)
Unrecognized tax benefits as of December 31, 2016	$	23,254
Gross decrease in tax positions for prior years		(51)
Gross increase in tax positions for current year		18,591
Unrecognized tax benefits as of December 31, 2017		41,794
Gross decrease in tax positions for prior years		(685)
Gross increase in tax positions for current year		11,295
Unrecognized tax benefits as of December 31, 2018	$	52,404