Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

The benefit (provision) for incomes taxes consists of the following:

Deferred income tax assets and liabilities as of December 31, 2019 and 2018 are comprised of the following:



(In thousands)	December 31, 2019			December 31, 2018
Deferred income tax assets:
Federal net operating loss	$	121,125		$	101,662
State net operating loss	64,648			59,126
Foreign net operating loss	32,162			34,407
Research and development expense	1,560			2,893
Tax credits	22,989			21,669
Stock options	30,640			30,430
Accruals	17,215			6,294
Equity investments	13,495			12,904
Bad debts	445			414
Lease liability	1,064			1,370
Foreign credits	9,909			10,837
Available-for-sale securities	2,478			2,447
Operating lease asset	10,204			—
Other	8,395			11,668
Deferred income tax assets	336,329			296,121
Deferred income tax liabilities:
Intangible assets	(230,662		)	(250,640		)
Convertible Debt	(12,219		)	—
Operating lease liability	(10,204		)	—
Fixed assets	(3,976		)	(3,486		)
Other	(2,130		)	(2,272		)
Deferred income tax liabilities	(259,191		)	(256,398		)
Net deferred income tax assets (liabilities)	77,138			39,723
Valuation allowance	(194,869		)	(154,916		)
Net deferred income tax liabilities*	$	(117,731	)	$	(115,193	)

Note: Net deferred income tax liability balance includes $986 thousand recorded to Other Assets on the Consolidated Balance Sheet.

The following summarizes the changes in our gross unrecognized income tax benefits.



	For the years ended December 31,
(In thousands)	2019			2018			2017
Unrecognized tax benefits at beginning of period	$	17,513		$	21,347		$	27,545
Gross increases – tax positions in prior period	—			—			44
Gross increases – tax positions in current period	884			8,384			—
Gross decreases – tax positions in prior period	(298		)	(7,597		)	(1,724		)
Lapse of Statute of Limitations	(939		)	(4,621		)	(4,518		)
Unrecognized tax benefits at end of period	$	17,160		$	17,513		$	21,347

The significant elements contributing to the difference between the federal statutory tax rate and the effective tax rate are as follows:



	For the years ended December 31,
	2019		2018		2017
Federal statutory rate	21.0	%	21.0	%	35.0	%
State income taxes, net of federal benefit	2.8	%	4.3	%	5.1	%
Foreign income tax	(6.6	)%	(6.0	)%	(5.3	)%
Income Tax Refunds	—	%	3.6	%	—	%
Research and development tax credits	0.3	%	1.9	%	0.6	%
Non-Deductible components of Convertible Debt	—	%	(0.2	)%	0.1	%
Valuation allowance	(17.9	)%	(7.1	)%	(28.4	)%
Rate change effect	0.4	%	8.1	%	(10.8	)%
Non-deductible items	(0.7	)%	(2.9	)%	(1.9	)%
Unrecognized tax benefits	—	%	(1.8	)%	(0.7	)%
Impairments	(1.6	)%	—	%	—	%
Other	—	%	(0.7	)%	(0.4	)%
Total	(2.3	)%	20.2	%	(6.7	)%

The following table reconciles our losses before income taxes between U.S. and foreign jurisdictions: