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 (in thousands):
| FOR THE THREE MONTHS ENDED SEPTEMBER 30, | FOR THE NINE MONTHS ENDED SEPTEMBER 30, | ||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||
| Net cash provided by operating activities | $ | 96,264 | $ | 101,342 | $ | 59,163 | $ | 144,212 | |||||||
| Purchases of property and equipment | (940 | ) | (6,104 | ) | (1,877 | ) | (9,875 | ) | |||||||
| Capitalized patent costs | (7,917 | ) | (9,877 | ) | (28,145 | ) | (23,726 | ) | |||||||
| Free cash flow | $ | 87,407 | $ | 85,361 | $ | 29,141 | $ | 110,611 | |||||||
| CONTACT: | InterDigital, Inc. |
| Email: investor.relations@interdigital.com | |
| +1 (302) 300-1857 | |
