XML 96 R72.htm IDEA: XBRL DOCUMENT v3.22.4
Income Taxes - Additional Information (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Tax Disclosure [Line Items]      
Federal statutory rate 21.00% 21.00% 21.00%
Income tax benefit (expense) $ (2,537) $ 1,635 $ (35,583)
Operating loss carryforwards limitation on use As of December 31, 2022, the Company had U.S. federal net operating loss carryforwards (“NOLs”) of approximately $758.4 million, all of which is subject to limitation under Section 382 of the IRC. IRC Section 382 provides an annual limitation with respect to the ability of a corporation to utilize its tax attributes, against future U.S. taxable income in the event of a change in ownership. If not utilized, such carryforwards would begin to expire at the end of 2035.    
Valuation allowance $ 129,105 $ 224,266  
Valuation allowance, commentary In assessing the need for a valuation allowance, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized using available positive and negative evidence, including future reversals of temporary differences, tax-planning strategies and future taxable income, to estimate whether sufficient future taxable income will be generated to permit use of deferred tax assets. A significant piece of objective negative evidence evaluated is the cumulative loss incurred over recent years. Such objective negative evidence limits our ability to consider other subjective positive evidence. The Company intends to continue maintaining a full valuation allowance on our deferred tax assets until there is sufficient evidence to support the reversal of all or some portion of these allowances. However, if positive earnings continue to be realized and future earnings are anticipated, the Company believes that there is a reasonable possibility that within the next 12 months, sufficient positive evidence may become available to allow us to reach a conclusion that a significant portion of the valuation allowance will no longer be needed. Release of the valuation allowance would result in the recognition of certain deferred tax assets and a decrease to income tax expense for the period the release is recorded. However, the exact timing and amount of the valuation allowance release are subject to change on the basis of the level of profitability that the Company achieves and anticipates realizing in future years.    
Earliest Tax Year      
Income Tax Disclosure [Line Items]      
Income tax examination, Year 2019    
Latest Tax Year      
Income Tax Disclosure [Line Items]      
Income tax examination, Year 2021    
Federal and State      
Income Tax Disclosure [Line Items]      
Deferred tax assets, valuation allowance expense (benefit)     $ 162,200
Federal      
Income Tax Disclosure [Line Items]      
Operating loss carryforwards $ 758,400    
Internal Revenue Code      
Income Tax Disclosure [Line Items]      
Income tax benefit (expense) $ 17,600    
Internal Revenue Code | Federal | Capital loss carryforward      
Income Tax Disclosure [Line Items]      
Operating loss carryforwards expiration year 2035