INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

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)	2023			2022			2021
Current
Federal	$	7,799		$	40,822		$	—
State		2,177			464			7
Total current		9,976			41,286			7
Deferred
Federal		6,594			26,026			70,893
State		(2,194	)		(625	)		5,539
Total deferred		4,400			25,401			76,432
Total income tax expense, net	$	14,376		$	66,687		$	76,439

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)	2023			2022			2021
Expected tax at federal statutory rate	$	40,747		$	58,928		$	93,507
State income tax, net of federal benefit		1,433			(1,414	)		848
Federal and state research credits		(1,582	)		(2,453	)		1,260
Section 250 deduction		(15,274	)		—			—
Noncontrolling interest		—			7,468			(21,626	)
Impact of consolidation and deconsolidation of subsidiaries		—			(8,897	)		—
Other		1,219			(125	)		1,129
Change in valuation allowance		(12,167	)		13,180			1,321
Total income tax expense, net	$	14,376		$	66,687		$	76,439

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)	2023			2022
Deferred tax assets
Net operating loss carryforwards	$	182,013		$	149,646
Research and development tax credit carryforwards		21,357			21,230
Unrealized loss on investment, net		—			6,032
Deferred royalty obligation, net		18,084			17,404
Other		6,467			8,527
Total deferred tax assets before valuation allowance		227,921			202,839
Valuation allowance		(169,249	)		(144,808	)
Total deferred tax assets		58,672			58,031
Deferred tax liabilities
Depreciation and amortization		(39,064	)		(50,587	)
Unrealized gain on investment, net		(13,747	)		—
Inventory fair value adjustment		(6,424	)		(12,410	)
Other		—			(805	)
Net deferred tax liabilities	$	(563	)	$	(5,771	)

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, 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
Net increase in tax portions for 2023		3,119
Unrecognized tax benefits as of December 31, 2023	$	19,443