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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:

 

     Years Ended December 31,  
     2012     2011     2010  

U.S. Source

   $ 45,422      $ 63,640      $ 28,659   

Non-U.S. Source

     (163,700     (107,267     (50,149
  

 

 

   

 

 

   

 

 

 

Income (loss) before income taxes

   $ (118,278   $ (43,627 )   $ (21,490 )
  

 

 

   

 

 

   

 

 

 
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:

 

     Years Ended December 31,  
     2012     2011     2010  

Provision for current income tax expense (benefit):

      

Federal

   $ 2,253      $ 2,766      $ 289   

State and local

     1,879        1,439        1,355   

Foreign

     1,858        1,641        1,624   
  

 

 

   

 

 

   

 

 

 
   $ 5,990      $ 5,846      $ 3,268   
  

 

 

   

 

 

   

 

 

 

Provision for deferred income tax expense (benefit):

      

Federal

   $ (6,055   $ 7,398      $ (213,796

State and local

     (3,891     (2,957     (16,377

Foreign

     25        (78     (404
  

 

 

   

 

 

   

 

 

 
   $ (9,921   $ 4,363      $ (230,577
  

 

 

   

 

 

   

 

 

 

Provision for (benefit from) income taxes

   $ (3,931   $ 10,209      $ (227,309
  

 

 

   

 

 

   

 

 

 
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:

 

     Years Ended December 31,  
     2012     2011     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 )     (12.7

Nondeductible debt conversion expense

     0        (0.6     (10.9

Changes in the fair value of contingent acquisition consideration payable

     (2.6     1.5        (6.5

Nondeductible acquisition expenses

     0        (0.2     (1.9

Section 162(m) limitation

     (1.2     (0.9     (1.6

Permanent items

     (0.9 )     (1.3 )     (1.6

Foreign tax rate differential

     (50.0 )     (86.7 )     (89.2

Other

     (1.1     1.0        0   

Valuation allowance/Deferred benefit

     (0.6 )     (5.0 )     1176.7   
  

 

 

   

 

 

   

 

 

 

Effective income tax rate

     3.3     (23.4 )%      1057.7
  

 

 

   

 

 

   

 

 

 
Schedule Of Components Of Net Deferred Tax Assets

The significant components of the Company’s net deferred tax assets are as follows:

 

     December 31,  
     2012     2011  

Net deferred tax assets:

    

Net operating loss carryforwards

   $ 20,431      $ 33,796   

Credit and contribution carryforwards

     170,322        162,710   

Property, plant and equipment

     1,791        231   

Accrued expenses, reserves, and prepaids

     18,770        12,148   

Intangible assets

     6,161        5,979   

Stock-based compensation

     22,634        22,144   

Inventory

     17,074        10,957   

Capital loss carryforwards

     3,083        3,101   

Other

     764        167   
  

 

 

   

 

 

 

Gross deferred tax assets

   $ 261,030      $ 251,233   
  

 

 

   

 

 

 

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 )
  

 

 

   

 

 

 

Net deferred tax assets

   $ 221,659      $ 208,637   
  

 

 

   

 

 

 
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:

 

     December 31,  
     2012     2011  

Balance at beginning of period

   $ 36,350      $ 31,112   

Additions based on tax positions related to the current year

     7,190        4,660   

Additions for tax positions of prior years

     (9     578   
  

 

 

   

 

 

 

Balance at end of period

   $ 43,531      $ 36,350