Rendering
| Component: (Network and Table) |
|---|
| Network | 100220 - Disclosure - Income Taxes (Tables) (http://www.biolase.com/20161231/taxonomy/role/DisclosureIncomeTaxesTables) |
| Table | (Implied) |
Slicers (applies to each fact value in each table cell)
| Reporting Entity [Axis] | 0000811240 (http://www.sec.gov/CIK) |
| Income Tax Disclosure [Abstract] | Period [Axis] |
|---|
2016-01-01 - 2016-12-31 |
|---|
Income Tax Disclosure [Abstract] | |
Summary of Income Tax Current and Deferred Provision |
The following table presents the current and deferred provision for income taxes for the years ended December 31 (in thousands):
|
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Current: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
State |
|
|
22 |
|
|
|
30 |
|
|
|
27 |
|
|
Foreign |
|
|
69 |
|
|
|
87 |
|
|
|
25 |
|
|
|
|
|
91 |
|
|
|
117 |
|
|
|
52 |
|
|
Deferred: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal |
|
|
60 |
|
|
|
61 |
|
|
|
60 |
|
|
State |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Foreign |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
60 |
|
|
|
61 |
|
|
|
60 |
|
|
|
|
$ |
151 |
|
|
$ |
178 |
|
|
$ |
112 |
|
|
Federal Income Tax Provision Compared With Statutory Rates |
The provision for income taxes differs from the amount that would result from applying the federal statutory rate as follows for the years ended December 31:
|
|
|
2016 |
|
|
|
2015 |
|
|
|
2014 |
|
|
|
Statutory regular federal income tax rate |
|
|
(34.0 |
) |
% |
|
|
(34.0 |
) |
% |
|
|
(34.0 |
) |
% |
|
Change in valuation allowance |
|
|
40.4 |
|
% |
|
|
40.2 |
|
% |
|
|
37.4 |
|
% |
|
State tax benefit (net of federal benefit) |
|
|
(3.0 |
) |
% |
|
|
(3.1 |
) |
% |
|
|
(3.3 |
) |
% |
|
Research credits |
|
|
(3.4 |
) |
% |
|
|
(3.1 |
) |
% |
|
|
(1.9 |
) |
% |
|
Foreign amounts with no tax benefit |
|
|
0.2 |
|
% |
|
|
0.1 |
|
% |
|
|
(0.1 |
) |
% |
|
Non-deductible expenses |
|
|
0.6 |
|
% |
|
|
0.4 |
|
% |
|
|
1.0 |
|
% |
|
Effect of change in rate |
|
|
0.5 |
|
% |
|
|
0.9 |
|
% |
|
|
2.3 |
|
% |
|
Other |
|
|
(0.2 |
) |
% |
|
|
(0.5 |
) |
% |
|
|
(0.8 |
) |
% |
|
Total |
|
|
1.1 |
|
% |
|
|
0.9 |
|
% |
|
|
0.6 |
|
% |
|
Summary of Net Deferred Tax Assets and Net Deferred Tax Liabilities |
The components of the deferred income tax assets and liabilities as of December 31 (in thousands):
|
|
2016 |
|
|
2015 |
|
|
Capitalized intangible assets for tax purposes |
$ |
47 |
|
|
$ |
104 |
|
|
Reserves not currently deductible |
|
2,117 |
|
|
|
2,527 |
|
|
Deferred revenue |
|
8 |
|
|
|
8 |
|
|
Stock options |
|
4,966 |
|
|
|
4,072 |
|
|
State taxes |
|
9 |
|
|
|
9 |
|
|
Income tax credits |
|
2,379 |
|
|
|
2,471 |
|
|
Inventory |
|
940 |
|
|
|
905 |
|
|
Property and equipment |
|
201 |
|
|
|
345 |
|
|
Other comprehensive income |
|
252 |
|
|
|
320 |
|
|
Unrealized gain on foreign currency |
|
136 |
|
|
|
136 |
|
|
Net operating losses |
|
43,687 |
|
|
|
38,753 |
|
|
Total deferred tax assets |
|
54,742 |
|
|
|
49,650 |
|
|
Valuation allowance |
|
(54,310 |
) |
|
|
(49,514 |
) |
|
Net deferred tax assets |
|
432 |
|
|
|
136 |
|
|
Capitalized intangible assets |
|
(876 |
) |
|
|
(813 |
) |
|
Other |
|
(354 |
) |
|
|
(61 |
) |
|
Total deferred tax liabilities |
|
(1,230 |
) |
|
|
(874 |
) |
|
Net deferred tax liabilities |
$ |
(798 |
) |
|
$ |
(738 |
) |
|
Summary of Unrecognized Tax Benefits |
The following table summarizes the activity related to the Company’s unrecognized tax benefits during the year ended December 31, 2016 (in thousands):
|
Balance at January 1, 2016 |
|
$ |
568 |
|
|
Additions for tax positions related to the prior year |
|
|
— |
|
|
Lapse of statute of limitations |
|
|
— |
|
|
Balance at December 31, 2016 |
|
$ |
568 |
|
|