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Component: (Network and Table)
Network
128 - Disclosure - Income Taxes (Tables)
(http://agios.com/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlockTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001439222 (http://www.sec.gov/CIK)
Income Tax Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Income Tax Disclosure [Abstract]
 
Schedule of Domestic and Foreign Components of Loss Before Income Taxes

The domestic and foreign components of loss before income taxes are as follows, in thousands:

 

     Years ended December 31,  
     2016      2015      2014  

Domestic

    $ (179,896 )     $ (111,057 )     $ (53,930 ) 

Foreign

      (18,575 )       (6,674 )       —     
  

 

 

     

 

 

     

 

 

  

Loss before income taxes

    $ (198,471 )     $ (117,731 )     $ (53,930 ) 
  

 

 

     

 

 

     

 

 

  
  
Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes is as follows for the years ended December 31, 2016, 2015 and 2014 (in thousands):

 

     Years Ended December 31,  
     2016      2015      2014  

Current:

         

Federal

      $  —           $  —         $   (444)   

State

      —           —           18   

Foreign

      —           —           —     
  

 

 

     

 

 

     

 

 

  

Total current

      —           —           (426 ) 
  

 

 

     

 

 

     

 

 

  

Deferred:

         

Federal

      —           —           —     

State

      —           —           —     

Foreign

      —           —           —     
  

 

 

     

 

 

     

 

 

  

Total deferred

      —           —           —     
  

 

 

     

 

 

     

 

 

  

Total

    $ —         $ —         $ (426 ) 
  

 

 

     

 

 

     

 

 

  
  
Reconciliation of Expected Income Tax Benefit (Expense) Computed Using Federal Statutory Income Tax Rate

A reconciliation of the expected income tax benefit (expense) computed using the federal statutory income tax rate to the Company’s effective income tax rate is as follows for the years ended December 31, 2016, 2015 and 2014:

 

     December 31,  
     2016      2015      2014  

Income tax benefit computed at federal statutory tax rate

      35.00%           35.00%           35.00%    

State taxes, net of federal benefit

      2.90              4.50              4.90       

Change in valuation allowance

      (43.40)             (44.60)             (35.80)      

General business credits and other credits

      9.50              8.40              (1.90)      

Permanent differences

      (0.20)             (0.20)             (0.10)      

Incentive Stock Options

      (1.80)             (1.80)             (2.00)      

Foreign Rate Differential

      (1.90)             (1.20)             —       

Other

      (0.10)             (0.10)             0.80       
  

 

 

     

 

 

     

 

 

  

Total

      0.00%           0.00%           0.90%    
  

 

 

     

 

 

     

 

 

  
  
Company's Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities for the years ended December 31, 2016 and 2015 are as follows (in thousands):

 

     December 31,  
     2016      2015  

Deferred tax assets:

      

Net operating loss carryforwards

    $ 126,077         $ 81,947     

Deferred revenue

      8,051           7,046     

Tax credit carryforwards

      43,350           16,708     

Purchased intangible assets

      4,410           724     

Stock-based compensation

      22,731           11,923     

Deferred rent

      8,516           7,975     

Non-deductible accruals and reserves

      3,310           2,520     
  

 

 

     

 

 

  

Total deferred tax assets

      216,445           128,843     

Valuation allowance

        (208,033)            (121,874)    
  

 

 

     

 

 

  

Total deferred tax assets

    $ 8,412         $ 6,969     
  

 

 

     

 

 

  

Deferred tax liabilities:

      

Depreciation and amortization

    $ (8,412)        $ (6,969)    
  

 

 

     

 

 

  

Total deferred tax liabilities

    $ (8,412)        $ (6,969)    
  

 

 

     

 

 

  

Net deferred tax asset

    $ —           $ —