Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.20.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Taxes [Abstract]  
Components Of Consolidated Income (Losses) From Continuing Operations Before Income Taxes



 

 

 

 

 

 

 

 

 



 

Year Ended December 31,



 

2019

 

2018

 

2017



 

 

 

 

 

 

 

 

 

U.S. operations

 

$

8,553 

 

$

8,998 

 

$

(4,794)

Foreign operations

 

 

1,428 

 

 

(2,525)

 

 

(966)

Income (loss) before income tax

 

$

9,981 

 

$

6,473 

 

$

(5,760)



Components Of Income Tax Provision (Benefit)



 

 

 

 

 

 

 

 

 



 

Year Ended December 31,



 

2019

 

2018

 

2017



 

 

 

 

 

 

 

 

 

Current:

 

 

 

 

 

 

 

 

 

Federal

 

$

(41)

 

$

(74)

 

$

255 

State and local

 

 

179 

 

 

41 

 

 

 -

Foreign

 

 

111 

 

 

295 

 

 

150 



 

 

249 

 

 

262 

 

 

405 

Deferred:

 

 

 

 

 

 

 

 

 

Federal

 

 

1,133 

 

 

2,645 

 

 

16,752 

State and local

 

 

(156)

 

 

326 

 

 

(374)

Foreign

 

 

3,273 

 

 

(575)

 

 

(110)



 

 

4,250 

 

 

2,396 

 

 

16,268 

Change in valuation allowance for deferred income taxes

 

 

(13,490)

 

 

(3,486)

 

 

(21,760)



 

 

(9,240)

 

 

(1,090)

 

 

(5,492)



 

 

 

 

 

 

 

 

 

Income tax benefit

 

$

(8,991)

 

$

(828)

 

$

(5,087)



Schedule Of Effective Income Tax Rate Reconciliation



 

 

 

 

 

 

 

 

 



 

Year Ended December 31,



 

2019

 

2018

 

2017



 

 

 

 

 

 

 

 

 

Statutory income tax expense (benefit)

 

21.0 

%

 

21.0 

%

 

(34.0)

%

Increase (decrease) in income taxes resulting from:

 

 

 

 

 

 

 

 

 

Foreign taxes

 

0.2 

 

 

(0.9)

 

 

1.7 

 

State income taxes, net of federal income taxes

 

1.9 

 

 

3.4 

 

 

(2.3)

 

Income tax credits

 

(5.6)

 

 

(6.8)

 

 

(5.0)

 

Incentive stock options

 

(3.7)

 

 

1.3 

 

 

5.5 

 

Change in effective state rate

 

(0.1)

 

 

0.3 

 

 

(1.5)

 

Deferred tax asset write-off

 

31.4 

 

 

21.7 

 

 

 -

 

Translation loss

 

 -

 

 

 -

 

 

(6.9)

 

Impact of tax reform

 

 -

 

 

 -

 

 

(105.7)

 

Other

 

0.7 

 

 

1.1 

 

 

3.3 

 

Change in valuation allowance

 

(135.9)

 

 

(53.9)

 

 

56.6 

 

Income tax benefit

 

(90.1)

%

 

(12.8)

%

 

(88.3)

%



Schedule Of Deferred Tax Assets And Liabilities



 

 

 

 

 

 



 

December 31,



 

2019

 

2018



 

 

 

 

 

 

Deferred tax assets:

 

 

 

 

 

 

Net operating loss, capital loss amount and research & experimentation credit carryforwards

 

$

40,949 

 

$

44,885 

Non-cash compensation

 

 

1,622 

 

 

1,384 

Accrued liabilities

 

 

263 

 

 

282 

Reserves and other

 

 

1,027 

 

 

1,138 

Intangibles

 

 

84 

 

 

233 



 

 

43,945 

 

 

47,922 

Valuation allowance

 

 

(28,632)

 

 

(42,122)

Net deferred tax assets

 

 

15,313 

 

 

5,800 

Deferred tax liabilities:

 

 

 

 

 

 

Depreciation

 

 

(1,091)

 

 

(966)

Intangibles

 

 

(7,542)

 

 

(7,628)

Other

 

 

 -

 

 

(125)



 

 

(8,633)

 

 

(8,719)



 

 

 

 

 

 

Total

 

$

6,680 

 

$

(2,919)



Schedule Of Roll Forward Of Valuation Allowance For Deferred Income Tax Assets



 

 

 

 

 

 

 

 

 

 

 

 



 

Balance at Beginning of Year

 

Charged to Costs and Expenses

 

Other Adjustments (a)

 

Balance at End of Year



 

 

 

 

 

 

 

 

 

 

 

 

2017

 

$

67,662 

 

$

3,166 

 

$

(25,017)

 

$

45,811 

2018

 

$

45,811 

 

$

(3,486)

 

$

(203)

 

$

42,122 

2019

 

$

42,122 

 

$

(13,473)

 

$

(17)

 

$

28,632 



(a)

During the year ended December 31, 2017, the decrease in valuation allowance is due to the Tax Act.



Summary Of Tax Credit Carryforwards



 

 

 

Net Operating Loss Carryforward Expiration Dates

December 31, 2019



 

 

 

Expiration Dates December 31,

 

Net Operating Loss Amount

2022

 

$

111,049 

2023

 

 

5,712 

2024

 

 

3,566 

2025 and beyond

 

 

11,294 

Total

 

$

131,621 



Schedule Of Unrecognized Tax Benefits



 

 

 

 

 

 

 

 

 



 

December 31,



 

2019

 

2018

 

2017



 

 

 

 

 

 

 

 

 

Balance, beginning of year

 

$

545 

 

$

476 

 

$

1,135 

Additions for current year tax positions

 

 

77 

 

 

69 

 

 

91 

Additions for prior year tax positions

 

 

11 

 

 

 -

 

 

 -

Reductions for prior year tax positions

 

 

(72)

 

 

 -

 

 

(13)

Payments in settlement

 

 

 -

 

 

 -

 

 

(737)

Balance, end of year

 

$

561 

 

$

545 

 

$

476