Income Taxes (Tables)
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12 Months Ended |
Dec. 31, 2016 |
Income Tax Disclosure [Abstract] |
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Schedule of Income Tax Expense/Benefit |
The following table sets forth income before taxes and the expense for income taxes for the years ended December 31, 2016, 2015, and 2014: | | | | | | | | | | | | | | Year Ended December 31, | | 2016 | | 2015 | | 2014 | | (in thousands) | Income (loss) before taxes: | |
| | |
| | |
| U.S. | $ | (55,617 | ) | | $ | (83,537 | ) | | $ | (34,622 | ) | Foreign | 48,404 |
| | 8,793 |
| | 26,073 |
| Total income (loss) before taxes | $ | (7,213 | ) | | $ | (74,744 | ) | | $ | (8,549 | ) | Income tax expense: | |
| | |
| | |
| Current income taxes | |
| | |
| | |
| U.S. federal | $ | 49 |
| | $ | 480 |
| | $ | (12,049 | ) | U.S. state | 126 |
| | 195 |
| | (23 | ) | Foreign | 9,494 |
| | 7,488 |
| | 7,620 |
| Total current income taxes | 9,669 |
| | 8,163 |
| | (4,452 | ) | Deferred income taxes: | |
| | |
| | |
| U.S. federal | 263 |
| | (3,902 | ) | | 400 |
| U.S. state | — |
| | (118 | ) | | 236 |
| Foreign | (651 | ) | | 4,309 |
| | 193 |
| Total deferred income taxes | (388 | ) | | 289 |
| | 829 |
| Total income tax expense (benefit) | $ | 9,281 |
| | $ | 8,452 |
| | $ | (3,623 | ) |
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Effective Tax Rate Reconciliation |
The following table sets forth income reconciliations of the statutory federal income tax rate to actual rates based on income or loss before income taxes for the years ended December 2016, 2015, and 2014: | | | | | | | | | | | | | | | | | | | | | | | December 31, | | 2016 | | 2015 | | 2014 | | (in thousands) | Federal income tax rate | $ | (2,524 | ) | | 35.0 | % | | $ | (26,160 | ) | | 35.0 | % | | $ | (2,992 | ) | | 35.0 | % | State income tax rate, net of federal benefit | (202 | ) | | 2.8 |
| | (543 | ) | | 0.7 |
| | 2,598 |
| | (30.4 | ) | Effect of rate differences | (12,624 | ) | | 175.0 |
| | (3,678 | ) | | 4.9 |
| | (3,362 | ) | | 39.3 |
| Non-deductible / Non-taxable items | 2,694 |
| | (37.4 | ) | | (2,181 | ) | | 2.9 |
| | (9,904 | ) | | 115.8 |
| Change in valuation allowance | 16,041 |
| | (222.4 | ) | | 10,892 |
| | (14.5 | ) | | 5,370 |
| | (62.8 | ) | U.S. tax on foreign earnings | 23,130 |
| | (320.6 | ) | | 82,311 |
| | (110.0 | ) | | 17,196 |
| | (201.2 | ) | Foreign tax credits | (18,581 | ) | | 257.6 |
| | (49,432 | ) | | 66.1 |
| | (11,026 | ) | | 129.0 |
| Uncertain tax positions | 19 |
| | (0.3 | ) | | (3,952 | ) | | 5.3 |
| | (25,172 | ) | | 294.4 |
| Audit settlements | 253 |
| | (3.5 | ) | | 1,167 |
| | (1.6 | ) | | 13,448 |
| | (157.3 | ) | Stock Compensation Windfall / Shortfall
| 2,120 |
| | (29.4 | ) | | — |
| | — |
| | — |
| | — |
| Deferred income tax account adjustments | (842 | ) | | 11.7 |
| | — |
| | — |
| | 8,679 |
| | (101.5 | ) | Write-off of income tax receivable | — |
| | — |
| | — |
| | — |
| | 1,577 |
| | (18.4 | ) | Other | (203 | ) | | 2.8 |
| | 28 |
| | (0.1 | ) | | (35 | ) | | 0.5 |
| Effective income tax rate | $ | 9,281 |
| | (128.7 | )% | | $ | 8,452 |
| | (11.3 | )% | | $ | (3,623 | ) | | 42.4 | % |
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Deferred Income Tax Assets and Liabilities |
The following table sets forth deferred income tax assets and liabilities as of December 2016 and 2015: | | | | | | | | | | December 31, | | 2016 | | 2015 | | (in thousands) | Non-current deferred tax assets: | |
| | |
| Stock compensation expense | $ | 4,597 |
| | $ | 7,142 |
| Long-term accrued expenses | 26,127 |
| | 26,114 |
| Net operating loss and charitable contribution carryovers | 36,424 |
| | 22,518 |
| Intangible assets | 3,654 |
| | 4,725 |
| Future uncertain tax position offset | 396 |
| | 456 |
| Unrealized loss on foreign currency | — |
| | 466 |
| Foreign tax credit | 69,586 |
| | 27,109 |
| Other | 5,481 |
| | 5,548 |
| Valuation allowance | (90,900 | ) | | (56,572 | ) | Total non-current deferred tax assets | $ | 55,365 |
| | $ | 37,506 |
| Non-current deferred tax liabilities: | |
| | |
| Intangible assets
| $ | (41 | ) | | $ | (24,572 | ) | Unremitted earnings of foreign subsidiary | (32,427 | ) | | (6,432 | ) | Property and equipment | (16,072 | ) | | — |
| Total non-current deferred tax liabilities | $ | (48,540 | ) | | $ | (31,004 | ) |
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Unrecognized Tax Benefits Reconciliation |
The following table sets forth a reconciliation of the beginning and ending amount of unrecognized tax benefits during the years ended December 31, 2016, 2015 and 2014: | | | | | | | | | | | | | | December 31, | | 2016 | | 2015 | | 2014 | | (in thousands) | Unrecognized tax benefit—January 1 | $ | 4,957 |
| | $ | 8,444 |
| | $ | 31,616 |
| Gross increases—tax positions in prior period | 646 |
| | 643 |
| | 7 |
| Gross decreases—tax positions in prior period | (664 | ) | | (385 | ) | | (3,711 | ) | Gross increases—tax positions in current period | 245 |
| | 549 |
| | 904 |
| Settlements | (238 | ) | | (4,126 | ) | | (20,210 | ) | Lapse of statute of limitations | (196 | ) | | (168 | ) | | (162 | ) | Unrecognized tax benefit—December 31 | $ | 4,750 |
| | $ | 4,957 |
| | $ | 8,444 |
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Income Tax Examinations |
The following table sets forth the tax years subject to examination for the major jurisdictions where we conduct business as of December 31, 2016: | | | Netherlands | 2009 to 2016 | Canada | 2009 to 2016 | Japan | 2010 to 2016 | China | 2008 to 2016 | Singapore | 2012 to 2016 | United States | 2010 to 2016 |
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