|
CONDENSED CONSOLIDATED BALANCE SHEETS
| |||||||
| (dollars in thousands)
| |||||||
| (unaudited) | |||||||
|
SEPTEMBER
30, 2016 |
DECEMBER
31, 2015 | ||||||
| ASSETS | |||||||
| Cash & short-term investments | $ | 781,549 | $ | 933,708 | |||
| Accounts receivable | 146,883 | 53,868 | |||||
| Other current assets | 46,306 | 23,391 | |||||
| Property & equipment and patents (net) | 290,461 | 289,727 | |||||
| Other long-term assets (net) | 177,651 | 173,791 | |||||
| TOTAL ASSETS | $ | 1,442,850 | $ | 1,474,485 | |||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||
| Current portion of long-term debt | $ | — | $ | 227,174 | |||
| Accounts payable, accrued liabilities, taxes payable & dividends payable | 62,570 | 66,570 | |||||
| Current deferred revenue, including customer advances | 175,673 | 106,229 | |||||
| Long-term deferred revenue | 309,513 | 289,039 | |||||
| Long-term debt & other long-term liabilities | 279,822 | 263,578 | |||||
| TOTAL LIABILITIES | 827,578 | 952,590 | |||||
| TOTAL INTERDIGITAL, INC. SHAREHOLDERS' EQUITY | 606,724 | 510,519 | |||||
| Noncontrolling interest | 8,548 | 11,376 | |||||
| TOTAL EQUITY | 615,272 | 521,895 | |||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 1,442,850 | $ | 1,474,485 | |||
RECONCILIATION OF FREE CASH FLOW TO NET CASH
PROVIDED BY OPERATING ACTIVITIES
In the summary consolidated cash flows and throughout this release, the company refers to free cash flow. The table below presents a reconciliation of this non-GAAP financial measure to net cash provided by operating activities, the most directly comparable GAAP financial measure.
|
For the Three Months
Ended September 30, |
For the Nine Months
Ended September 30, | |||||||||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||||||||
| Net cash (used in) provided by operating activities | $ | (10,171 | ) | $ | 656 | $ | 197,496 | $ | 27,722 | |||||||
| Purchases of property, equipment, & technology licenses | (1,211 | ) | (506 | ) | (3,477 | ) | (1,835 | ) | ||||||||
| Capitalized patent costs | (7,906 | ) | (7,815 | ) | (24,274 | ) | (24,006 | ) | ||||||||
| Free cash flow | $ | (19,288 | ) | $ | (7,665 | ) | $ | 169,745 | $ | 1,881 | ||||||
CONTACT: InterDigital, Inc.: Patrick Van de Wille patrick.vandewille@interdigital.com +1 (858) 210-4814
