Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

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):



	2018		2017

Current:
Federal	$	—	$	—
State	87		90
Foreign	1,092		2,865
Total current	1,179		2,955
Deferred:
Federal	—		—
State	—		—
Total deferred	—		—
Provision for income taxes	$	1,179	$	2,955

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, 2018 and 2017 (in thousands):



	2018			2017

Deferred tax assets:
Net operating loss and capital loss carryforwards and credits	$	104,862		$	90,871
Unrealized loss on investments held at fair value	2,455			—
Stock compensation	1,365			2,635
Fixed assets and intangibles	3,330			6,197
Basis of investments in affiliates	286			984
Accrued liabilities and other	208			167
State taxes	26			35
Total deferred tax assets	112,532			100,889
Valuation allowance	(112,532		)	(90,278		)
Total deferred tax assets, net of valuation allowance	—			10,611
Deferred tax liabilities:
Unrealized gain on investments held at fair value	—			(10,587		)
Other	(18		)	(24		)
Total deferred tax liabilities	(18		)	(10,611		)
Net deferred tax assets (liabilities)	$	(18	)	$	—

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:



	2018		2017

Statutory federal tax rate - (benefit) expense	21	%	35	%
State income and foreign taxes, net of federal tax effect	(1	)%	8	%
Foreign tax credit	—	%	—	%
Noncontrolling interests in operating subsidiaries	—	%	1	%
Nondeductible permanent items	(1	)%	3	%
Change in tax rate	—	%	102	%
Valuation allowance	(20	)%	(137	)%
	(1	)%	12	%