INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of income (loss) before income taxes were as follows:

	Years Ended December 31,
	2023		2022
	(In thousands)
Domestic	$	70,912	$	(126,810)
Foreign	(3,486)		(340)
Total	$	67,426	$	(127,150)

Schedule of Effective Income Tax Rate Reconciliation

For purposes of reconciling the Company’s provision for income taxes at the statutory rate and the Company’s income tax (benefit) at the effective tax rate, a notional 21% tax rate was applied as follows:

	Years Ended December 31,
	2023		2022
Statutory federal tax rate - expense (benefit)	21	%	(21)	%
Foreign rate differential	3	%	—	%
Noncontrolling interests in operating subsidiaries	(1)	%	(2)	%
Nondeductible permanent items	(1)	%	—	%
Expired tax attributes	6	%	6	%
Foreign tax credits	(3)	%	—	%
Derivative fair value adjustment	(3)	%	(2)	%
Valuation allowance	(27)	%	7	%
Other	1	%	(1)	%
Effective income tax rate	(2)	%	(13)	%

Schedule of Components of Income Tax Expense (Benefit)

Acacia’s income tax benefit for the periods presented consisted of the following:

	Years Ended December 31,
	2023		2022
	(In thousands)
Current:
Federal	$	(215)	$	(54)
State	37		(482)
Foreign	(1,975)		(606)
Total current	(2,153)		(1,142)
Deferred:
Federal	(14,041)		24,789
State	(925)		259
Foreign	593		(28)
Total deferred	(14,373)		25,020
Change in valuation allowance	18,030		(7,667)
Income tax benefit	$	1,504	$	16,211

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 consisted of the following:

	December 31,
	2023		2022
	(In thousands)
Deferred tax assets:
Net operating loss and capital loss carryforwards and credits	$	34,595	$	47,386
Unrealized gain on investments held at fair value	146		35
Compensation expense for share-based awards	1,095		607
Accrued liabilities and other	1,453		1,551
Lease liability	689		784
State taxes	37		94
Total deferred tax assets	38,015		50,457
Valuation allowance	(30,219)		(48,250)
Total deferred tax assets, net of valuation allowance	7,796		2,207
Deferred tax liabilities:
ROU Asset	(680)		(782)
Fixed assets and intangibles	(1,841)		(2,166)
Basis of investment in affiliates	(2,360)		—
Other	—		—
Total deferred tax liabilities	(4,881)		(2,948)
Net deferred tax assets (liabilities)	$	2,915	$	(742)

Schedule of Unrecognized Tax Benefits Roll Forward

The following changes occurred in the amount of unrecognized tax benefits:

	Years Ended December 31,
	2023		2022
	(In thousands)
Beginning balance	$	760	$	887
Additions for current year tax positions	—		—
Additions included in purchase accounting for prior year positions	—		—
Reductions for prior year tax positions	(3)		(127)
Ending Balance (excluding interest and penalties)	757		760
Interest and penalties	—		—
Total	$	757	$	760