Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.0.6
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2012
Income Taxes [Abstract]  
Total provision for income taxes

The total (benefit) provision for income taxes consists of the following (in thousands):

 
Year ended December 31,
 
 
2012
 
 
2011
 
 
2010
 
Federal income tax (benefit) provision
 
$
(74
)
 
$
15
 
 
$
27
 
Total
 
$
(74
)
 
$
15
 
 
$
27
 
Components of net deferred tax assets
The significant components of net deferred tax assets as of December 31, 2012 and 2011 were as follows (in millions):

 
December 31,
 
 
2012
 
 
2011
 
Capitalized research and development expenses
 
$
51.5
 
 
$
68.7
 
Net operating loss carryforwards
 
 
150.8
 
 
 
135.7
 
Research and development and other credit carryforwards
 
 
8.5
 
 
 
21.6
 
Other
 
 
23.3
 
 
 
14.1
 
Total deferred tax assets
 
 
234.1
 
 
 
240.1
 
Valuation allowance
 
 
(234.1
)
 
 
(240.1
)
Net deferred tax assets
 
$
-
 
 
$
-
 
Schedule of unrecognized tax benefits
The following table summarizes the Company's activity related to its unrecognized tax benefits (in thousands):

 
December 31,
2012
 
Balance at January 1, 2012
 
$
-
 
Increase related to current year tax position
 
 
49
 
Increase related to prior year tax position
 
 
4,054
 
Balance at December 31, 2012
 
$
4,103