Rendering
| Component: (Network and Table) |
|---|
| Network | 135 - Disclosure - Income Taxes (Tables) (http://www.achillion.com/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlockTables) |
| Table | Statement [Table] |
Slicers (applies to each fact value in each table cell)
| Reporting Entity [Axis] | 0001070336 (http://www.sec.gov/CIK) |
| Legal Entity [Axis] | Entity [Domain] |
| Statement [Line Items] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Income Tax Provision (Benefit) |
The income tax
provision (benefit) consists of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
As of
December 31, |
|
| |
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Deferred:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal and
state
|
|
$ |
(23,232 |
) |
|
$ |
699 |
|
|
$ |
29,287 |
|
|
Valuation
allowance
|
|
|
23,232 |
|
|
|
(699 |
) |
|
|
(29,287 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total deferred
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Provision for Income Taxes at Statutory Rates |
A
reconciliation of the statutory tax rates to the effective tax
rates is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Years Ended December 31, |
|
| |
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Federal statutory
rate
|
|
|
(34.0 |
)% |
|
|
(34.0 |
)% |
|
|
(34.0 |
)% |
|
State tax, net of federal
benefit
|
|
|
(5.0 |
) |
|
|
(5.0 |
) |
|
|
(5.0 |
) |
|
Other
|
|
|
0.06 |
|
|
|
0.52 |
|
|
|
0.07 |
|
|
Share-based
compensation
|
|
|
0.80 |
|
|
|
2.84 |
|
|
|
(0.56 |
) |
|
Valuation
allowance
|
|
|
38.14 |
|
|
|
35.64 |
|
|
|
39.49 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0 |
% |
|
|
0 |
% |
|
|
0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Future Tax Benefits (Deferred Tax Assets) |
Future tax
benefits (deferred tax assets) related to temporary differences are
as follows:
|
|
|
|
|
|
|
|
|
| |
|
As of
December 31, |
|
| |
|
2016 |
|
|
2015 |
|
|
Gross deferred tax
assets:
|
|
|
|
|
|
|
|
|
|
Net operating
losses
|
|
$ |
127,376 |
|
|
$ |
151,076 |
|
|
Tax credits (federal and
state)
|
|
|
10,758 |
|
|
|
12,977 |
|
|
Share-based
compensation
|
|
|
10,725 |
|
|
|
7,643 |
|
|
Other
|
|
|
24 |
|
|
|
419 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
148,883 |
|
|
$ |
172,115 |
|
|
Less—valuation
allowance
|
|
|
(148,883 |
) |
|
|
(172,115 |
) |
|
|
|
|
|
|
|
|
|
|
Net deferred tax
asset
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
Net Operating Loss and Credit Carryforwards |
At
December 31, 2016 and 2015, the Company had available the
following net operating loss and credit carryforwards:
|
|
|
|
|
|
|
|
|
| |
|
As of
December 31, |
|
| |
|
2016 |
|
|
2015 |
|
|
Federal net operating loss
carryforwards
|
|
$ |
284,166 |
|
|
$ |
351,977 |
|
|
State net operating loss
carryforwards
|
|
|
410,119 |
|
|
|
418,720 |
|
|
Federal research and
development credit carryforwards
|
|
|
5,827 |
|
|
|
8,337 |
|
|
State research and
development credit carryforwards
|
|
|
4,932 |
|
|
|
4,640 |
|
|