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Income Taxes
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9 Months Ended |
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Sep. 30, 2012
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| Income Tax Disclosure [Abstract] | |
| Income Taxes |
Income Taxes
We are not presently a taxpayer for federal or state income tax purposes and have not recorded a net liability or expense for federal or state income taxes in any of the periods included in the accompanying financial statements. However, we are presently an international taxpayer and have recorded expense of $0.1 million and $0.2 million for international income taxes for the three and nine months ended September 30, 2012, respectively. Our Consolidated Statements of Operations for the three and nine months ended September 30, 2012 and 2011 include no income tax benefits.
During the third quarter of 2012, we experienced an ownership change within the provisions of Internal Revenue Code ("IRC") Section 382 that will subject approximately $1.4 billion of our existing net operating loss ("NOL") carryforwards to the annual NOL utilization limitations. The applicable Section 382 limitation will not affect our ability to fully utilize our existing tax NOL carryforwards. We will continue to monitor trading activity in our shares which may cause an additional ownership change which may ultimately affect our ability to fully utilize our existing tax NOL carryforwards.
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- Details
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- Definition
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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