Rendering

Component: (Network and Table)
Network
31403 - Disclosure - Income Taxes (Tables)
(http://www.amphastar.com/role/DisclosureIncomeTaxesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Income TaxesPeriod [Axis]
2016-01-01 - 2016-12-31
Income Taxes
 
Schedule of income (loss) before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

 

 

2016

 

2015

 

2014

 

 

 

(in thousands)

 

Income (loss) before income taxes:

    

 

    

    

 

    

    

 

    

 

United States

 

$

20,888

 

$

(4,344)

 

$

(12,946)

 

Foreign

 

 

(5,942)

 

 

(6,020)

 

 

(5,202)

 

Total income (loss) before taxes

 

$

14,946

 

$

(10,364)

 

$

(18,148)

 

 

  
Summary of provision (benefit) for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

 

 

2016

 

2015

 

2014

 

 

 

(in thousands)

 

Current provision (benefit):

    

 

    

    

 

    

    

 

    

 

Federal

 

$

7,279

 

$

82

 

$

(131)

 

State

 

 

344

 

 

73

 

 

193

 

Foreign

 

 

787

 

 

(112)

 

 

1,388

 

Total current provision

 

 

8,410

 

 

43

 

 

1,450

 

Deferred provision (benefit):

 

 

 

 

 

 

 

 

 

 

Federal

 

 

(2,491)

 

 

(5,222)

 

 

(4,309)

 

State

 

 

(1,066)

 

 

(1,250)

 

 

(1,699)

 

Foreign

 

 

(439)

 

 

(1,148)

 

 

(2,891)

 

Total deferred benefit

 

 

(3,996)

 

 

(7,620)

 

 

(8,899)

 

Total provision (benefit) for income taxes

 

$

4,414

 

$

(7,577)

 

$

(7,449)

 

 

  
Schedule of reconciliation of the statutory federal income tax rate

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

 

    

2016

    

2015

    

2014

 

Statutory federal income tax (benefit)

 

35.0

%  

(35.0)

%  

(35.0)

%

State tax expense, net of federal tax benefit

 

(3.1)

 

(7.4)

 

(5.4)

 

Foreign tax rate differences

 

1.8

 

(1.1)

 

1.8

 

Foreign valuation allowance

 

14.4

 

(23.3)

 

 —

 

Qualified production activities deduction

 

(8.7)

 

 —

 

 

Research and development credits

 

(11.7)

 

(15.4)

 

(6.4)

 

Share-based compensation

 

3.0

 

7.7

 

4.0

 

Other

 

(1.2)

 

1.4

 

 

Effective tax rate (benefit)

 

29.5

%  

(73.1)

%  

(41.0)

%

 

  
Summary of deferred tax assets and liabilities

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

2016

 

2015

 

 

 

(in thousands)

 

Deferred tax assets:

    

 

    

    

 

    

 

Net operating loss carryforward

 

$

4,698

 

$

8,616

 

State income taxes

 

 

393

 

 

300

 

Inventory capitalization and reserve

 

 

7,368

 

 

5,365

 

Deferred revenue

 

 

 —

 

 

584

 

Accrued payroll and benefits

 

 

1,813

 

 

1,793

 

Share-based compensation

 

 

10,545

 

 

10,125

 

Research and development credits

 

 

9,668

 

 

13,071

 

Alternative minimum tax

 

 

895

 

 

529

 

Accrued professional fees

 

 

1,333

 

 

987

 

Product return allowance

 

 

1,758

 

 

1,545

 

Accrued chargebacks

 

 

15,158

 

 

5,910

 

Bad debt reserve

 

 

95

 

 

253

 

Intangibles

 

 

3,370

 

 

3,370

 

Accrued for workers’ compensation insurance

 

 

1,409

 

 

1,035

 

Total deferred tax assets

 

 

58,503

 

 

53,483

 

Deferred tax liabilities:

 

 

 

 

 

 

 

Depreciation/amortization

 

 

13,763

 

 

15,065

 

Intangibles

 

 

8,208

 

 

5,430

 

Federal impact of state deferred taxes

 

 

3,784

 

 

3,380

 

Other

 

 

158

 

 

1,241

 

Total deferred tax liabilities

 

 

25,913

 

 

25,116

 

Valuation allowance

 

 

(3,044)

 

 

(923)

 

Net deferred tax assets

 

$

29,546

 

$

27,444

 

 

  
Schedule of unrecognized tax benefits

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 

 

 

2016

 

2015

 

2014

 

 

(in thousands)

Balance at the beginning of the year

    

$

5,595

    

$

4,783

    

$

4,186

Additions based on tax positions related to prior years

 

 

188

 

 

 —

 

 

 —

Additions based on tax positions related to the current year

 

 

903

 

 

812

 

 

655

Deductions based on statute of limitations

 

 

 —

 

 

 —

 

 

(58)

Balance at the end of the year

 

$

6,686

 

$

5,595

 

$

4,783