Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Schedule of Components of Income Tax Expense (Benefit)

Acacia’s provision for income taxes consists of the following (in thousands):



	2011		2010		2009

Current:
Federal	$	179	$	—	$	—
State taxes	943		1,473		209
Foreign taxes	7,586		267		—
	$	8,708	$	1,740	$	209

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences and carryforwards that give rise to significant portions of deferred tax assets and liabilities consist of the following at December 31, 2011 and 2010 (in thousands):



	2011			2010

Deferred tax assets:
Net operating loss and capital loss carryforwards and credits	$	7,626		$	13,988
Amortization and depreciation	6,252			5,702
Stock compensation	2,665			1,595
Basis of investments in affiliates	1,375			1,344
Accrued liabilities and other	471			550
Unrealized loss on short-term investments	746			—
State taxes	124			5
Intangibles	—			100
Other	278			—
Total deferred tax assets	19,537			23,284
Less: valuation allowance	(19,537		)	(23,284		)
Net deferred taxes	$	—		$	—

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the federal statutory income tax rate and the effective income tax rate is as follows:



	2011		2010		2009

Statutory federal tax rate	35	%	34	%	34	%
State income and foreign taxes, net of federal tax effect	27	%	5	%	(4	)%
Foreign tax credit	(25	)%	—		—
Noncontrolling interests in operating subsidiaries	(1	)%	(3	)%	40	%
Equity compensation	—		(1	)%	(1	)%
Non deductible permanent items	4	%	—		—
Expired net operating loss carryforwards	1	%	1	%	—
Valuation allowance	(12	)%	(32	)%	(73	)%
	29	%	4	%	(4	)%