Income Taxes |
6 Months Ended |
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Jun. 30, 2021 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | INCOME TAXESAs of June 30, 2021 and December 31, 2020, the Company's deferred tax liability was approximately $2.9 million and $21.8 million, respectively. The Company has not generated taxable income since inception and the fair value of our investment in LMC decreased substantially during the three and six months ending June 30, 2021, which resulted in a tax benefit of approximately $1.3 million and $18.9 million, respectively. The cumulative deferred tax assets are fully reserved as of June 30, 2021, as there is not sufficient evidence to conclude that it is more likely than not that deferred tax assets are realizable. No current liability for federal or state income taxes has been included in these Condensed Consolidated Financial Statements. |
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- References No definition available.
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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/disclosureRef
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