Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Loss before Income Tax Provision and Income Tax Expense

Loss before provision for income taxes and the provision for income taxes consist of the following for the years ended December 31, 2013, 2012 and 2011:

In thousands	2013			2012			2011
Loss before provision for income taxes
Domestic	$	(192,998	)	$	(182,974	)	$	(123,603	)
Foreign		(80,721	)		(37,898	)		—
Total	$	(273,719	)	$	(220,872	)	$	(123,603	)
Provision for income taxes
Current:
Federal	$	—		$	—		$	—
State		216			—			—
Foreign		223			—			—
Total	$	439		$	—		$	—

Reconciliation of Federal Statutory Corporate Income Tax Rate to Effective Income Tax Rate

A reconciliation of the federal statutory corporate income tax rate to the effective income tax rate for the years ended December 31, 2013, 2012 and 2011 is as follows:

	2013			2012			2011
Statutory federal income tax rate		(35	)%		(35	)%		(35	)%
State income tax rate, net of federal benefit		(2	)		(4	)		(4	)
Revaluation of warrant liability		—			3			13
Other permanent differences		—			(1	)		—
Foreign rate differential		9			6			—
Change in valuation allowance		28			31			26
Effective tax rate		—	%		—	%		—	%

Components of Deferred Income Taxes

The components of deferred income taxes were as follows at December 31:

In thousands	2013			2012
Deferred tax liabilities:
Intangibles	$	388		$	398
Unrealized currency gain		10,892			7,330
Total deferred tax liabilities		11,280			7,728
Deferred tax assets:
Net operating loss carryforwards		166,951			96,997
Federal and state tax credit carryovers		28,645			19,654
Depreciation		3,607			4,785
Stock-based compensation		7,780			5,491
Other		7,977			3,703
Total deferred tax assets		214,960			130,630
Deferred tax assets, net		203,680			122,902
Valuation allowance		(203,680	)		(122,902	)
Total deferred taxes	$	—		$	—

Estimated Net Operating Loss and Research and Development Credit Carryforwards

At December 31, 2013, the Company had available estimated net operating loss carryforwards and research and development credit carryforwards for federal, foreign and state tax reporting purposes as follows:

	Amount		Expiring if not utilized
	(in thousands)
Net operating loss carryforwards:
Federal	$	498,728		2024 through 2033
State	$	90,329		2033
Foreign	$	122,031		2021
Research and development credit carryforwards:
Federal	$	25,882		2018 through 2033
State	$	4,388		2005 through 2028

Reconciliation of Reserve for Uncertain Tax Benefits

A reconciliation of the reserve for uncertain tax benefits (including state tax matters without federal benefits) is as follows:

In thousands	2013		2012
Uncertain tax positions, beginning of the year:	$	24,404	$	—
Gross increases – tax positions in current period		249		24,404
Uncertain tax positions, end of year	$	24,653	$	24,404