XML 105 R69.htm IDEA: XBRL DOCUMENT v3.20.4
Income Taxes, Reconciliation of Statutory to Effective Tax Rate (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Reconciliation Between Effective and Statutory Tax Rate [Abstract]      
Pre-tax income (loss) $ (170,032) $ 346,769 $ (76,156)
Statutory rate (35,707) 72,822 (15,993)
State income tax net of federal benefit (39,230) 49,119 (2,202)
Foreign 49 340 1,735
Net change in valuation allowance 437,597 (37,765) (277,924)
Net operating loss expiration 0 0 8,864
TEGSEDI licensing gain 0 0 59,583
Impact from outside basis differences 0 (16,344) 0
Tax credits (18,774) (22,296) (73,362)
Deferred tax true-up (206) 646 9,947
Tax rate change (29,131) 1,811 (1,808)
Non-deductible compensation 7,931 3,361 3,154
Other non-deductible items 193 329 (569)
Stock-based compensation 17,435 (4,837) (4,199)
Foreign-derived intangible income benefit 0 (2,071) 0
Impacts from Akcea Acquisition (22,032) 0 0
Other (1,391) (1,608) 1,633
Total income tax expense (benefit) $ 316,734 $ 43,507 $ (291,141)
Reconciliation Between Effective and Statutory Tax Rate Percentage [Abstract]      
Statutory rate 21.00% 21.00% 21.00%
State income tax net of federal benefit 23.10% 14.20% 2.90%
Foreign 0.00% 0.10% (2.30%)
Net change in valuation allowance (257.40%) (10.90%) 364.90%
Net operating loss expiration 0.00% 0.00% (11.60%)
TEGSEDI licensing gain 0.00% 0.00% (78.20%)
Impact from outside basis differences 0.00% (4.70%) 0.00%
Tax credits 11.00% (6.40%) 96.30%
Deferred tax true-up 0.10% 0.20% (13.10%)
Tax rate change 17.10% 0.50% 2.40%
Non-deductible compensation (4.70%) 1.00% (4.10%)
Other nondeductible items (0.10%) 0.10% 0.70%
Stock-based compensation (10.30%) (1.40%) 5.50%
Foreign-derived intangible income benefit 0.00% (0.60%) 0.00%
Impacts from Akcea Acquisition 13.00% 0.00% 0.00%
Other 0.80% (0.50%) (2.10%)
Effective rate (186.40%) 12.60% 382.30%