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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2017
Income Taxes  
Schedule of components of deferred tax assets

 

 

 

 

 

 

 

 

 

    

2017

    

2016

 

 

 

(In thousands)

 

Operating loss carryforwards

 

$

53,276

 

$

56,832

 

Tax credit carryforwards

 

 

14,099

 

 

9,428

 

Other

 

 

7,552

 

 

7,710

 

Total deferred tax assets

 

 

74,927

 

 

73,970

 

Valuation allowance

 

 

(74,927)

 

 

(73,970)

 

Net deferred tax assets

 

$

 —

 

$

 —

 

 

Schedule of difference between U.S. federal corporate tax rate and Company effective tax rate

 

 

 

 

 

 

 

 

 

 

 

    

2017

 

2016

 

2015

Expected federal income tax rate

 

(34.0)

%

 

(34.0)

%

 

(34.0)

%

Expiring credits and NOLs

 

 

 

 

 

 

Change in valuation allowance

 

0.9

 

 

42.2

 

 

39.8

 

Federal and state credits

 

(6.9)

 

 

(9.9)

 

 

(7.4)

 

State income taxes, net of federal benefit

 

(3.7)

 

 

(3.7)

 

 

(4.5)

 

Permanent differences

 

2.4

 

 

3.5

 

 

2.4

 

Rate change related to TCJA

 

41.9

 

 

 

 

 

Other

 

(0.6)

 

 

1.9

 

 

3.7

 

Effective tax rate

 

0.0

%

 

0.0

%

 

0.0

%