INCOME TAXES (Tables)
|
12 Months Ended |
Dec. 31, 2012
|
Schedule Of Provision For (Benefit From) Income Taxes Based On Income (Loss) Before Income Taxes |
The provision
for (benefit from) income taxes is based on income (loss) before
income taxes as follows:
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Years Ended
December 31, |
|
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|
2012 |
|
|
2011 |
|
|
2010 |
|
U.S. Source
|
|
$ |
45,422 |
|
|
$ |
63,640 |
|
|
$ |
28,659 |
|
Non-U.S. Source
|
|
|
(163,700 |
) |
|
|
(107,267 |
) |
|
|
(50,149 |
) |
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|
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Income (loss) before income
taxes
|
|
$ |
(118,278 |
) |
|
$ |
(43,627 |
) |
|
$ |
(21,490 |
) |
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Schedule Of Components Of The Provision For (Benefit From) Income Taxes |
The U.S. and
foreign components of the provision for (benefit from) income taxes
are as follows:
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Years Ended
December 31, |
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2012 |
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2011 |
|
|
2010 |
|
Provision for current
income tax expense (benefit):
|
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|
|
|
|
|
|
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Federal
|
|
$ |
2,253 |
|
|
$ |
2,766 |
|
|
$ |
289 |
|
State and local
|
|
|
1,879 |
|
|
|
1,439 |
|
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|
1,355 |
|
Foreign
|
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|
1,858 |
|
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|
1,641 |
|
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|
1,624 |
|
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|
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|
|
|
|
|
|
|
|
|
|
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|
$ |
5,990 |
|
|
$ |
5,846 |
|
|
$ |
3,268 |
|
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Provision for deferred
income tax expense (benefit):
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Federal
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|
$ |
(6,055 |
) |
|
$ |
7,398 |
|
|
$ |
(213,796 |
) |
State and local
|
|
|
(3,891 |
) |
|
|
(2,957 |
) |
|
|
(16,377 |
) |
Foreign
|
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|
25 |
|
|
|
(78 |
) |
|
|
(404 |
) |
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|
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|
|
|
|
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|
$ |
(9,921 |
) |
|
$ |
4,363 |
|
|
$ |
(230,577 |
) |
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Provision for (benefit
from) income taxes
|
|
$ |
(3,931 |
) |
|
$ |
10,209 |
|
|
$ |
(227,309 |
) |
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Schedule Of Reconciliation Of The Statutory Federal Income Tax Rate To The Company's Effective Income Tax Rate |
The following
is a reconciliation of the statutory federal income tax rate to the
Company’s effective income tax rate expressed as a percentage
of income (loss) before income taxes:
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Years Ended December 31, |
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2012 |
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|
2011 |
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|
2010 |
|
Federal statutory income
tax rate
|
|
|
35.0 |
% |
|
|
35.0 |
% |
|
|
35.0 |
% |
State and local
taxes
|
|
|
(1.3 |
) |
|
|
(1.9 |
) |
|
|
(6.3 |
) |
Orphan Drug &
General Business Credit
|
|
|
27.6 |
|
|
|
43.9 |
|
|
|
(23.3 |
) |
Stock compensation
expense
|
|
|
(1.6 |
) |
|
|
(8.2 |
) |
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|
(12.7 |
) |
Nondeductible debt
conversion expense
|
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|
0 |
|
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|
(0.6 |
) |
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|
(10.9 |
) |
Changes in the fair value
of contingent acquisition consideration payable
|
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|
(2.6 |
) |
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|
1.5 |
|
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|
(6.5 |
) |
Nondeductible acquisition
expenses
|
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|
0 |
|
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|
(0.2 |
) |
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|
(1.9 |
) |
Section 162(m)
limitation
|
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|
(1.2 |
) |
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|
(0.9 |
) |
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(1.6 |
) |
Permanent items
|
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(0.9 |
) |
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|
(1.3 |
) |
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|
(1.6 |
) |
Foreign tax rate
differential
|
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|
(50.0 |
) |
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|
(86.7 |
) |
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|
(89.2 |
) |
Other
|
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|
(1.1 |
) |
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1.0 |
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|
0 |
|
Valuation
allowance/Deferred benefit
|
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|
(0.6 |
) |
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|
(5.0 |
) |
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|
1176.7 |
|
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Effective income tax
rate
|
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|
3.3 |
% |
|
|
(23.4 |
)% |
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|
1057.7 |
% |
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Schedule Of Components Of Net Deferred Tax Assets |
The significant
components of the Company’s net deferred tax assets are as
follows:
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December 31, |
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|
2012 |
|
|
2011 |
|
Net deferred tax
assets:
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Net operating loss
carryforwards
|
|
$ |
20,431 |
|
|
$ |
33,796 |
|
Credit and contribution
carryforwards
|
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|
170,322 |
|
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|
162,710 |
|
Property, plant and
equipment
|
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|
1,791 |
|
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|
231 |
|
Accrued expenses, reserves,
and prepaids
|
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|
18,770 |
|
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|
12,148 |
|
Intangible
assets
|
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|
6,161 |
|
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|
5,979 |
|
Stock-based
compensation
|
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|
22,634 |
|
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|
22,144 |
|
Inventory
|
|
|
17,074 |
|
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|
10,957 |
|
Capital loss
carryforwards
|
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|
3,083 |
|
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|
3,101 |
|
Other
|
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|
764 |
|
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|
167 |
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Gross deferred tax
assets
|
|
$ |
261,030 |
|
|
$ |
251,233 |
|
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Deferred tax liability
related to joint venture basis difference
|
|
|
(1,801 |
) |
|
|
(1,813 |
) |
Deferred tax liability
related to business acquisitions
|
|
|
(31,420 |
) |
|
|
(35,127 |
) |
Other
|
|
|
(75 |
) |
|
|
(215 |
) |
Valuation
allowance
|
|
|
(6,075 |
) |
|
|
(5,441 |
) |
|
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|
Net deferred tax
assets
|
|
$ |
221,659 |
|
|
$ |
208,637 |
|
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|
Schedule Of Reconciliation Of Unrecognized Tax Benefits |
A
reconciliation of the beginning and ending amount of unrecognized
tax benefits for the two years ended December 31, 2012 is as
follows:
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December 31, |
|
|
|
2012 |
|
|
2011 |
|
Balance at beginning of
period
|
|
$ |
36,350 |
|
|
$ |
31,112 |
|
Additions based on tax
positions related to the current year
|
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|
7,190 |
|
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|
4,660 |
|
Additions for tax positions
of prior years
|
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|
(9 |
) |
|
|
578 |
|
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Balance at end of
period
|
|
$ |
43,531 |
|
|
$ |
36,350 |
|
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