Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

The components of loss from continuing operations before income taxes are presented below:


	Year Ended December 31,
	2020		2019		2018
Domestic	$	(97,313)	$	(167,990)	$	(394,580)
Foreign	(6,542)		(3,274)		(1,332)
Loss from continuing operations before income taxes	$	(103,855)	$	(171,264)	$	(395,912)

Components of Income Tax Benefit

The components of income tax benefit from continuing operations are presented below:


	Year Ended December 31,
	2020		2019		2018
United States federal income taxes:
Current	$	—	$	—	$	(31)
Deferred	37		(561)		(11,855)
Foreign income taxes:
Current	74		34		68
Deferred	(204)		(230)		635
State income taxes:
Current	—		—		113
Deferred	11		(173)		(4,355)
Income tax benefit from continuing operations	$	(82)	$	(930)	$	(15,425)

Schedule of Effective Income Tax Rate Reconciliation

Income tax benefit from continuing operations for the years ended December 31, 2020, 2019 and 2018 differed from amounts computed by applying the applicable United States federal corporate income tax rate of 21% to loss before income taxes as a result of the following:


	2020		2019		2018
Computed statutory income tax benefit from continuing operations	$	(21,810)	$	(35,965)	$	(83,141)
State and provincial income tax benefit, net of federal income taxes	(5,167)		(5,494)		(21,717)
Nondeductible stock based compensation	5,709		10,303		4,696
Nondeductible officer compensation	728		595		294
Impairment of goodwill	—		273		—
Research and development tax incentives	(524)		(1,772)		(185)
Acquisition and internal restructuring transaction costs	—		260		52

Reacquired in-process research and development	—		—		2,696
Change in deferred state tax rate	—		—		8,666
United States-foreign rate differential	(21)		(76)		215
Other, net	(306)		(72)		(3,517)
	(21,391)		(31,948)		(91,941)
Change in valuation allowance for deferred tax assets	21,309		31,018		76,516
Total income tax benefit from continuing operations	$	(82)	$	(930)	$	(15,425)

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that comprise the deferred tax assets and liabilities included in continuing operations as of December 31, 2020 and 2019, are as follows:


	2020		2019
Deferred tax assets
Allowance for doubtful accounts	$	1,816	$	2,140
Inventory	289		415
Equity securities and investments in affiliates	570		11,933
Property, plant and equipment	1,882		1,830
Intangible assets	74,981		85,308
Accrued liabilities	1,834		3,385
Lease liabilities	6,140		10,035
Stock-based compensation	16,402		19,389
Deferred revenue	7,423		14,876
Research and development tax credits	10,210		9,686
Investments in subsidiaries included in discontinued operations	—		8,592
Net operating, capital loss, and interest expense carryforwards	275,519		196,663
Total deferred tax assets	397,066		364,252
Less: Valuation allowance	387,348		349,008
Net deferred tax assets	9,718		15,244
Deferred tax liabilities

Right-of-use assets	5,011		8,091

Long-term debt	7,604		9,987
Total deferred tax liabilities	12,615		18,078
Net deferred tax liabilities included in continuing operations	$	(2,897)	$	(2,834)

Summary of Valuation Allowance

Activity within the valuation allowance for deferred tax assets included in continuing operations during the years ended December 31, 2020, 2019 and 2018 was as follows:


	2020		2019		2018
Valuation allowance at beginning of year	$	349,008	$	292,217	$	211,078
Increase (decrease) in valuation allowance as a result of
Mergers and acquisitions, net	—		—		418
Deconsolidation of AquaBounty	—		(3,504)		—
Establishment of deferred taxes for subsidiaries included in discontinued operations	—		8,592		—
Current year continuing operations	21,309		31,018		98,549
Discontinued operations treated as asset sales	7,977		10,585		3,832
Discontinued operations related to MBP Titan	8,019		9,663		8,735
Adoption of ASC 842	—		512		—
Adoption of ASC 606	—		—		(7,477)
Equity component of long-term debt	—		—		(13,367)
Change in deferred state tax rate	—		—		(8,666)

Foreign currency translation adjustment	1,035		(75)		(885)
Valuation allowance at end of year	$	387,348	$	349,008	$	292,217