INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of components of the income tax expense

Income tax expense consists of the following:

	Year Ended December 31,
(In thousands)	2022			2021		2020
Current
Federal	$	40,822		$	—	$	—
State		464			7		11
Total current		41,286			7		11
Deferred
Federal		26,026			70,893		60,408
State		(625	)		5,539		12
Total deferred		25,401			76,432		60,420
Total income tax expense, net	$	66,687		$	76,439	$	60,431

Schedule of differences between expected U.S. federal statutory income tax to income tax expense

The impacts of the differences between the expected U.S. federal statutory income tax to our income tax expense are as follows:

	Year Ended December 31,
(In thousands)	2022			2021			2020
Expected tax at federal statutory rate	$	58,928		$	93,507		$	74,392
State income tax, net of federal benefit		(1,414	)		848			(26	)
Federal and state research credits		(2,453	)		1,260			—
Noncontrolling interest		7,468			(21,626	)		(14,577	)
Impact of consolidation and deconsolidation of subsidiaries		(8,897	)		—			—
Other		(125	)		1,129			839
Change in valuation allowance		13,180			1,321			(197	)
Income tax expense (benefit), net	$	66,687		$	76,439		$	60,431

Schedule of deferred tax assets and deferred tax liabilities

Significant components of our deferred tax assets and deferred tax liabilities are as follows:

	December 31,
(In thousands)	2022			2021
Deferred tax assets
Net operating loss carryforwards	$	149,646		$	64,813
Research and development tax credit carryforwards		21,230			53,467
Unrealized loss on investment, net		6,032			—
Deferred royalty obligation, net		17,404			—
Other		8,527			743
Total deferred tax assets before valuation allowance		202,839			119,023
Valuation allowance		(144,808	)		(64,744	)
Total deferred tax assets		58,031			54,279
Deferred tax liabilities
Depreciation and amortization		(50,587	)		(9,158	)
Unrealized gain on investment, net		—			(27,794	)
Inventory fair value adjustment		(12,410	)		—
Other		(805	)		—
Net deferred tax assets (liabilities)	$	(5,771	)	$	17,327

Summary of changes in unrecognized tax benefits

A reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits are as follows:

(In thousands)	Amount
Unrecognized tax benefits as of December 31, 2019	$	15,342
Net decrease in tax portions for 2020		(157	)
Unrecognized tax benefits as of December 31, 2020		15,185
Net decrease in tax portions for 2021		(313	)
Unrecognized tax benefits as of December 31, 2021		14,872
Net increase in tax portions for 2022		1,452
Unrecognized tax benefits as of December 31, 2022	$	16,324