Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Components of Income Tax Expense (Benefit)

Acacia’s provision for income taxes for the fiscal periods presented consisted of the following (in thousands):



	2015		2014			2013

Current:
Federal	$	—	$	—		$	—
State taxes	379		289			113
Foreign taxes	4,421		5,359			4,405
Total current	4,800		5,648			4,518
Deferred:
Federal	—		(1,867		)	(26,151		)
State taxes	—		131			(325		)
Total deferred	—		(1,736		)	(26,476		)
Provision for (benefit from) income taxes	$	4,800	$	3,912		$	(21,958	)

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, 2015 and 2014 (in thousands):



	2015			2014

Deferred tax assets:
Net operating loss and capital loss carryforwards and credits	$	71,494		$	59,427
Stock compensation	1,385			1,800
Fixed assets and intangibles	1,359			—
Basis of investments in affiliates	499			1,437
Accrued liabilities and other	442			409
Unrealized loss on short-term investments	—			92
State taxes	81			26
Total deferred tax assets	75,260			63,191
Valuation allowance	(75,179		)	(35,927		)
Total deferred tax assets, net of valuation allowance	81			27,264

Deferred tax liabilities:
Fixed assets and intangibles	—			(27,157		)
Other	(81		)	(107		)
Total deferred tax liabilities	(81		)	(27,264		)

Net deferred tax assets (liabilities)	$	—		$	—

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:



	2015		2014		2013

Statutory federal tax rate - (benefit) expense	(35	)%	(35	)%	(35	)%
State income and foreign taxes, net of federal tax effect	3	%	9	%	5	%
Foreign tax credit	(3	)%	(8	)%	(6	)%
Noncontrolling interests in operating subsidiaries	(1	)%	—	%	1	%
Goodwill	7	%	—	%	—	%
Nondeductible permanent items	—	%	1	%	2	%
Expired capital loss carryforwards	1	%	—	%	2	%
Valuation allowance	31	%	39	%	4	%
	3	%	6	%	(27	)%