Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.3.1.900
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Domestic and Foreign Components of Income (Loss) before Provision for Income Taxes
The domestic and foreign components of (loss) income before income taxes were as follows:
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
 
 
(in thousands)
Domestic
 
$
(15,777
)
 
$
(18,768
)
 
$
19,230

Foreign
 
2,713

 
2,161

 
1,252

Total
 
$
(13,064
)
 
$
(16,607
)
 
$
20,482

(Benefit) Provision for Income Taxes
Our benefit for income taxes consisted of the following components:
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
 
 
(in thousands)
Current:
 
 
 
 
 
 
Federal
 
$
162

 
$

 
$

State
 
797

 
437

 
1,886

Foreign
 
414

 
550

 
421

Total current income tax expense
 
1,373

 
987

 
2,307

Deferred:
 
 
 
 
 
 
Federal
 
(5,075
)
 
(6,611
)
 
(1,832
)
State
 
156

 
(460
)
 
(619
)
Foreign
 
(300
)
 
(249
)
 
(66
)
Total deferred income tax benefit
 
(5,219
)
 
(7,320
)
 
(2,517
)
Total income tax benefit
 
$
(3,846
)
 
$
(6,333
)
 
$
(210
)
Reconciliation of Income Tax (Benefit) Expense Computed at Federal Statutory Tax Rate to Actual Income Tax (Benefit) Expense
The reconciliation of our income tax benefit computed at the U.S. federal statutory tax rate to the actual income tax benefit is as follows:
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
 
 
(in thousands)
Expense derived by applying the Federal income tax rate to (loss) income before taxes
 
$
(4,572
)
 
$
(5,813
)
 
$
7,169

State income tax, net of federal benefit
 
561

 
(177
)
 
607

Foreign income tax
 
(813
)
 
(477
)
 
(170
)
Change in valuation allowance
 

 

 
(9,087
)
Benefit of assets not previously recognized
 

 
(516
)
 

Nondeductible expenses
 
418

 
454

 
644

Fair value adjustment on stock acquisition
 
(52
)
 
(28
)
 
487

Stock-based compensation
 
209

 
223

 
139

Reduction in available Federal NOL
 
350

 

 

Other
 
53

 
1

 
1

 
 
$
(3,846
)
 
$
(6,333
)
 
$
(210
)
Components of Deferred Tax Assets and Liabilities
Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of our assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities are as follows:
 
 
December 31,
 
 
2015
 
2014
 
 
(in thousands)
Deferred tax assets:
 
 
 
 
Reserves, deferred revenue and accrued liabilities
 
$
8,107

 
$
6,392

Stock-based compensation
 
15,112

 
12,238

Net operating loss carryforwards and tax credits
 
13,733

 
22,348

Total deferred tax assets
 
36,952

 
40,978

Deferred tax liabilities:
 
 
 
 
Property, equipment, and software
 
(10,041
)
 
(8,217
)
Intangible assets
 
(11,563
)
 
(21,965
)
Other
 
(3,297
)
 
(2,459
)
Total deferred tax liabilities
 
(24,901
)
 
(32,641
)
Net deferred tax assets
 
$
12,051

 
$
8,337