INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

INCOME TAXES

Schedule of (benefit from) provision for income taxes

The provision for (benefit from) income taxes consists of the following (in thousands):

	2014			2013			2012
Current:
Federal	$	(2,853	)	$	60,874		$	(19	)
State		11			3,593			(75	)
Foreign		—			3			3
		(2,842	)		64,470			(91	)
Deferred:
Federal	$	80,293		$	(97,690	)	$	—
State		3,895			(5,513	)		—
Foreign		—			—			—
		84,188			(103,203	)		—
Total provision (benefit) for income taxes	$	81,346		$	(38,733	)	$	(91	)

Schedule of reconciliation of income taxes at the statutory federal income tax rate to the actual tax rate

A reconciliation of income taxes at the statutory federal income tax rate to the actual tax rate included in the statements of operations is as follows (in thousands):

	2014		2013			2012
Tax at federal statutory rate	$	74,588	$	1,603		$	(10,454	)
State tax, net of federal benefit		3,903		(3,177	)		(48	)
Foreign tax		—		3			3
Research Credit		—		(258	)		—
Net Operating Losses not benefited (benefited)		—		(17,510	)		9,094
Stock Based Compensation		366		923			1,038
Non deductible meals and entertainment		440		442			131
Non-deductible other expense		2,049		(133	)		145
Change in Valuation Allowance		—		(20,626	)		—
Total	$	81,346	$	(38,733	)	$	(91	)

Schedule of significant components of the Company's deferred tax assets

Significant components of the Company's deferred tax assets are as follows (in thousands):

	2014			2013
Deferred Tax Assets:
Net operating loss carryforwards	$	5,390		$	4,237
Tax carryforwards		80			133
In-process research and development		330			665
Deferred revenue		—			88,248
Intangibles		3,282			1,363
Other, net		14,180			11,226
Total deferred tax assets		23,262			105,872
Convertible Debt		(41,940	)		—
Valuation allowance for deferred tax assets		(4,310	)		(2,670	)
Deferred tax (liabilities) assets, net	$	(22,988	)	$	103,202

Summary of the activity related to the entity's unrecognized tax benefits

The following table summarizes the activity related to our unrecognized tax benefits for the three years ended December 31, 2014 (in thousands):

Unrecognized tax benefits—January 1, 2012	$	3,573
Gross increases—current year tax positions		21
Unrecognized tax benefits—December 31, 2012	$	3,594
Gross increases—current year tax positions		174
Gross increases—prior year tax positions		111
Unrecognized tax benefits—December 31, 2013	$	3,879
Gross increases—current year tax positions		27
Gross increases—prior year tax positions		1,273
Unrecognized tax benefits—December 31, 2014	$	5,179