Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

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INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Benefit (Provision)
Income tax benefit (provision) included in our reported net loss consisted of the following (in thousands):
Year Ended December 31,
2021 2020 2019
Current:
Federal $ —  $ —  $ — 
State —  —  — 
Foreign —  —  — 
Total Current —  —  — 
Deferred:
Federal —  —  — 
State —  —  — 
Foreign —  —  — 
Total Deferred —  —  — 
Total income tax benefit (provision) $ —  $ —  $ — 
Schedule of Income before Income Tax, Domestic and Foreign The sources of loss from operations before income taxes were as follows (in thousands):
Year Ended December 31,
2021 2020 2019
Domestic $ (111,114) $ (202,831) $ (139,654)
Foreign (3,624) (7,865) (12,113)
Total loss before income taxes $ (114,738) $ (210,696) $ (151,767)
Summary of Effective Income Tax Rate Reconciliation The reconciliation of the federal statutory income tax rate to our effective income tax rate is as follows:
Year Ended December 31,
2021 2020 2019
Income tax benefit (provision) at U.S. statutory rate $ 24,095  $ 44,246  $ 31,871 
Share-based compensation 1,352  —  — 
Impairment —  —  — 
Change in U.S. tax rate —  —  — 
Change in valuation allowance due to change in U.S. tax rate —  —  — 
U.S. state tax 4,333  8,563  7,529 
Change in valuation allowance (29,648) (49,802) (38,953)
Other (132) (3,007) (447)
Total income tax benefit (provision) $ —  $ —  $ — 
Schedule of Deferred Tax Assets and Liabilities
Significant components of our deferred tax assets and liabilities are as follows (in thousands):
December 31,
2021 2020
Deferred tax assets:
Capitalized engineering costs $ 59,366  $ 45,865 
Capitalized start-up costs 15,012  16,361 
Compensation and benefits 14,740  4,475 
Property, plant and equipment —  10,569 
Lease liability 15,514  5,977 
Net operating loss carryforwards and credits:
Federal 80,246  68,515 
State 13,406  11,449 
Foreign 5,687  5,242 
Other, net 1,593  3,329 
Deferred tax assets 205,564  171,782 
Less valuation allowance (201,366) (171,782)
Deferred tax assets, net of valuation allowance 4,198  — 
Deferred tax liabilities
Property and equipment (4,198) — 
Net deferred tax assets $ —  $ —