Income Taxes (Tables)
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12 Months Ended |
Dec. 31, 2020 |
Income Tax Disclosure [Abstract] |
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Schedule of Loss Before Income Taxes in the US and Globally |
The Company's loss before income taxes in the US and globally was as follows (in thousands): | | | | | | | | | | | | | | | | | | | Years Ended December 31, | 2020 | | 2019 | | 2018 | US | $ | (207,120) | | | $ | (201,161) | | | $ | (286,211) | | Foreign | (85,568) | | | (52,399) | | | (37,865) | | Total | $ | (292,688) | | | $ | (253,560) | | | $ | (324,076) | |
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Schedule of Components Income Tax (Benefit) Provision |
The Company's income tax provision consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | Years Ended December 31, | | 2020 | | 2019 | | 2018 | Current: | | | | | | Federal | $ | — | | | $ | — | | | $ | — | | State | 268 | | | 10 | | | 4 | | Foreign | 1,134 | | | 767 | | | 197 | | | 1,402 | | | 777 | | | 201 | | Deferred: | | | | | | Federal | — | | | — | | | — | | State | — | | | — | | | — | | Foreign | — | | | — | | | — | | | — | | | — | | | — | | Total | $ | 1,402 | | | $ | 777 | | | $ | 201 | |
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Reconciliation Between Federal Statutory Tax Rate and Effective Tax Rate |
The reconciliation between the federal statutory tax rates and the Company's effective tax rate is as follows: | | | | | | | | | | | | | | | | | | | Years Ended December 31, | | 2020 | | 2019 | | 2018 | Statutory federal tax rate | 21 | % | | 21 | % | | 21 | % | Permanent items | — | % | | (1) | % | | — | % | State income taxes, net of federal benefit | 4 | % | | 6 | % | | 5 | % | R&D and other tax credits | 2 | % | | 2 | % | | 2 | % | Foreign income taxes | 1 | % | | 1 | % | | (1) | % | | | | | | | Change in valuation allowance | (32) | % | | (32) | % | | (27) | % | Change in Irish trading status | 4 | % | | 3 | % | | — | % | | | | | | | Effective tax rate | — | % | | — | % | | — | % |
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Schedule of Components of Deferred Tax Assets and Liabilities |
The components of the deferred tax assets and liabilities consist of the following: | | | | | | | | | | | | | As of December 31, | | 2020 | | 2019 | Deferred tax assets: | | | | Net operating loss carryforwards | $ | 377,093 | | | $ | 304,266 | | General business credits | 123,305 | | | 114,887 | | Product license | 5,652 | | | 6,456 | | Inventory | 3,767 | | | 3,129 | | Lease liabilities | 12,421 | | | 16,439 | | Stock-based compensation | 21,664 | | | 20,587 | | Other | 8,550 | | | 6,038 | | Deferred tax assets | $ | 552,452 | | | $ | 471,802 | | Deferred tax liabilities: | | | | Intangibles | $ | (9,163) | | | $ | (14,316) | | Right-of-use assets | (11,054) | | | (15,485) | | Convertible debt | (22,474) | | | (28,524) | | Deferred tax liabilities | $ | (42,691) | | | $ | (58,325) | | Net deferred tax assets | $ | 509,761 | | | $ | 413,477 | | Valuation allowance | (509,761) | | | (413,477) | | Net deferred tax assets | $ | — | | | $ | — | |
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Schedule of Unrecognized Tax Benefits |
The following table summarizes the gross amounts of unrecognized tax benefits (in thousands): | | | | | | | | | | | | | 2020 | | 2019 | Balance as of January 1, | $ | 4,836 | | | $ | 4,087 | | Additions related to prior period tax positions | — | | | — | | Reductions related to prior period tax positions | (32) | | | (60) | | Additions related to current period tax positions | 829 | | | 809 | | | | | | Balance as of December 31, | $ | 5,633 | | | $ | 4,836 | | | | | |
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