Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

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):



	2017		2016		2015

Current:
Federal	$	—	$	—	$	—
State	90		262		379
Foreign	2,865		17,926		4,421
Total current	2,955		18,188		4,800
Deferred:
Federal	—		—		—
State	—		—		—
Total deferred	—		—		—
Provision for income taxes	$	2,955	$	18,188	$	4,800

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, 2017 and 2016 (in thousands):



	2017			2016

Deferred tax assets:
Net operating loss and capital loss carryforwards and credits	$	90,871		$	83,323
Stock compensation	2,635			2,416
Fixed assets and intangibles	6,197			14,343
Basis of investments in affiliates	984			2,195
Accrued liabilities and other	167			422
State taxes	35			90
Total deferred tax assets	100,889			102,789
Valuation allowance	(90,278		)	(102,627		)
Total deferred tax assets, net of valuation allowance	10,611			162
Deferred tax liabilities:
Unrealized gain on investments held at fair value	(10,587		)	—
Other	(24		)	(162		)
Total deferred tax liabilities	(10,611		)	(162		)
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:



	2017		2016		2015

Statutory federal tax rate - (benefit) expense	35	%	(35	)%	(35	)%
State income and foreign taxes, net of federal tax effect	8	%	50	%	3	%
Foreign tax credit	—	%	(49	)%	(3	)%
Noncontrolling interests in operating subsidiaries	1	%	1	%	(1	)%
Goodwill	—	%	—	%	7	%
Nondeductible permanent items	3	%	—	%	—	%
Expired capital loss carryforwards	—	%	—	%	1	%
Change in tax rate	102	%	—	%	—	%
Valuation allowance	(137	)%	83	%	31	%
	12	%	50	%	3	%