10-Q Filing

ACACIA RESEARCH CORP CIK: 934549 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0000934549-13-000008`
Period End Date	20130331
Filing Date	20130508
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	actg-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 44 Cash Flow Statement 55 Comprehensive Income 10

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$193.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$315.50M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$314.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$221.80M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	49.21M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	49.16M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$134.29M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$89.47M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$45.35M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	49.21M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	49.16M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$9.84M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.44M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.10M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$324.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$377.90M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$536.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$339.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Patents, net of accumulated amortization	`PatentsNetOfAccumulatedAmortization`	$305.81M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Patents, net of accumulated amortization	`PatentsNetOfAccumulatedAmortization`	$313.53M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	1.13M	shares	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	1.13M	shares	Point-in-time
Goodwill	`Goodwill`	$30.15M	USD	Point-in-time
Goodwill	`Goodwill`	$30.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$138.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$137.00K	USD	Point-in-time
Total assets	`Assets`	$714.53M	USD	Point-in-time
Total assets	`Assets`	$668.72M	USD	Point-in-time
Accounts payable and accrued expenses / costs	`AccountsPayableAndAccruedLiabilitiesCurrent`	$9.48M	USD	Point-in-time
Accounts payable and accrued expenses / costs	`AccountsPayableAndAccruedLiabilitiesCurrent`	$17.13M	USD	Point-in-time
Royalties and contingent legal fees payable	`RoyaltiesAndContingentLegalFeesPayable`	$36.74M	USD	Point-in-time
Royalties and contingent legal fees payable	`RoyaltiesAndContingentLegalFeesPayable`	$12.51M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$53.86M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$27.83M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$27.83M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$415.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$494.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$82.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$50.24M	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.001 per share; 10,000,000 shares authorized; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.001 per share; 10,000,000 shares authorized; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 49,211,829 and 49,160,844 shares issued and outstanding as of March 31, 2013 and December 31, 2012, respectively	`CommonStockValue`	$49.00K	USD	Point-in-time
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 49,211,829 and 49,160,844 shares issued and outstanding as of March 31, 2013 and December 31, 2012, respectively	`CommonStockValue`	$49.00K	USD	Point-in-time
Treasury stock, at cost, 1,129,408 shares as of March 31, 2013 and December 31, 2012	`TreasuryStockValue`	$26.73M	USD	Point-in-time
Treasury stock, at cost, 1,129,408 shares as of March 31, 2013 and December 31, 2012	`TreasuryStockValue`	$26.73M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$650.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$644.98M	USD	Point-in-time
Accumulated comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-1.17M	USD	Point-in-time
Accumulated comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-317.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-519.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.63M	USD	Point-in-time
Total Acacia Research Corporation stockholders' equity	`StockholdersEquity`	$623.45M	USD	Point-in-time
Total Acacia Research Corporation stockholders' equity	`StockholdersEquity`	$611.50M	USD	Point-in-time
Noncontrolling interests in operating subsidiaries	`MinorityInterest`	$6.98M	USD	Point-in-time
Noncontrolling interests in operating subsidiaries	`MinorityInterest`	$8.90M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$632.34M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$618.48M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$668.72M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$714.53M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenues	`LicensesRevenue`	$76.86M	USD	1 Quarter
Non-cash stock compensation	`ShareBasedCompensation`	$5.16M	USD	1 Quarter
Revenues	`LicensesRevenue`	$99.04M	USD	1 Quarter
Non-cash stock compensation	`ShareBasedCompensation`	$5.09M	USD	1 Quarter
Inventor royalties	`RoyaltyExpense`	$18.48M	USD	1 Quarter
Inventor royalties	`RoyaltyExpense`	$7.59M	USD	1 Quarter
Contingent legal fees	`ContingentLegalFees`	$15.03M	USD	1 Quarter
Contingent legal fees	`ContingentLegalFees`	$3.75M	USD	1 Quarter
Litigation and licensing expenses - patents	`LitigationAndLicensingExpensesPatents`	$9.65M	USD	1 Quarter
Litigation and licensing expenses - patents	`LitigationAndLicensingExpensesPatents`	$3.38M	USD	1 Quarter
Amortization of patents	`AmortizationOfIntangibleAssets`	$11.73M	USD	1 Quarter
Amortization of patents	`AmortizationOfIntangibleAssets`	$5.13M	USD	1 Quarter
Marketing, general and administrative expenses (including non-cash stock compensation expense of $5,158 for the three months ended March 31, 2013, and $5,090 for the three months ended March 31, 2012)	`GeneralAndAdministrativeExpense`	$13.73M	USD	1 Quarter
Marketing, general and administrative expenses (including non-cash stock compensation expense of $5,158 for the three months ended March 31, 2013, and $5,090 for the three months ended March 31, 2012)	`GeneralAndAdministrativeExpense`	$13.85M	USD	1 Quarter
Research, consulting and other expenses - business development	`ResearchConsultingAndOtherExpensesBusinessDevelopment`	$1.12M	USD	1 Quarter
Research, consulting and other expenses - business development	`ResearchConsultingAndOtherExpensesBusinessDevelopment`	$1.02M	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$69.77M	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$34.70M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$64.34M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$7.09M	USD	1 Quarter
Investment Income, Interest	`InvestmentIncomeInterest`	$442.00K	USD	1 Quarter
Investment Income, Interest	`InvestmentIncomeInterest`	$56.00K	USD	1 Quarter
Gain (Loss) on Investments	`GainLossOnInvestments`	-	USD	1 Quarter
Gain (Loss) on Investments	`GainLossOnInvestments`	$848.00K	USD	1 Quarter
Total other income (expenses)	`OtherNonoperatingIncomeExpense`	$1.29M	USD	1 Quarter
Total other income (expenses)	`OtherNonoperatingIncomeExpense`	$56.00K	USD	1 Quarter
Income (loss) from operations before benefit from (provision for) income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.38M	USD	1 Quarter
Income (loss) from operations before benefit from (provision for) income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$64.40M	USD	1 Quarter
Benefit from (provision for) income taxes	`IncomeTaxExpenseBenefit`	$3.27M	USD	1 Quarter
Benefit from (provision for) income taxes	`IncomeTaxExpenseBenefit`	$14.75M	USD	1 Quarter
Net income (loss) including noncontrolling interests in operating subsidiaries	`ProfitLoss`	$49.65M	USD	1 Quarter
Net income (loss) including noncontrolling interests in operating subsidiaries	`ProfitLoss`	$5.11M	USD	1 Quarter
Net (income) loss attributable to noncontrolling interests in operating subsidiaries	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net (income) loss attributable to noncontrolling interests in operating subsidiaries	`NetIncomeLossAttributableToNoncontrollingInterest`	$-275.00K	USD	1 Quarter
Net income (loss) attributable to Acacia Research Corporation	`NetIncomeLoss`	$5.11M	USD	1 Quarter
Net income (loss) attributable to Acacia Research Corporation	`NetIncomeLoss`	$49.93M	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$1.13	USD	1 Quarter
Diluted earnings (loss) per share	`EarningsPerShareDiluted`	$1.09	USD	1 Quarter
Diluted earnings (loss) per share	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Weighted average number of shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	47.86M	shares	1 Quarter
Weighted average number of shares outstanding, basic	`WeightedAverageNumberOfSharesOutstandingBasic`	44.37M	shares	1 Quarter
Weighted average number of shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.35M	shares	1 Quarter
Weighted average number of shares outstanding, diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	45.77M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income (loss) including noncontrolling interests in operating subsidiaries	`ProfitLoss`	$49.65M	USD	1 Quarter
Net income (loss) including noncontrolling interests in operating subsidiaries	`ProfitLoss`	$5.11M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.77M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.16M	USD	1 Quarter
Non-cash stock compensation	`ShareBasedCompensation`	$5.16M	USD	1 Quarter
Non-cash stock compensation	`ShareBasedCompensation`	$5.09M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$7.61M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$709.00K	USD	1 Quarter
Change in valuation allowance	`ValuationAllowanceDeferredTaxAssetChangeInAmount`	-	USD	1 Quarter
Change in valuation allowance	`ValuationAllowanceDeferredTaxAssetChangeInAmount`	$10.24M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$35.51M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.64M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.66M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$919.00K	USD	1 Quarter
Accounts payable and accrued expenses / costs	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.43M	USD	1 Quarter
Accounts payable and accrued expenses / costs	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$10.30M	USD	1 Quarter
Royalties and contingent legal fees payable	`IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable`	$-9.41M	USD	1 Quarter
Royalties and contingent legal fees payable	`IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable`	$24.23M	USD	1 Quarter
Deferred income tax	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	1 Quarter
Deferred income tax	`IncreaseDecreaseInDeferredIncomeTaxes`	$5.29M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$48.95M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$16.82M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$241.00K	USD	1 Quarter
Purchase of available-for-sale investments	`PaymentsToAcquireAvailableForSaleSecurities`	$97.22M	USD	1 Quarter
Purchase of available-for-sale investments	`PaymentsToAcquireAvailableForSaleSecurities`	$144.76M	USD	1 Quarter
Maturities and sale of available-for-sale investments	`ProceedsFromSaleOfAvailableForSaleSecurities`	$20.00M	USD	1 Quarter
Maturities and sale of available-for-sale investments	`ProceedsFromSaleOfAvailableForSaleSecurities`	$53.26M	USD	1 Quarter
Purchase of ADAPTIX, Inc., net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Purchase of ADAPTIX, Inc., net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$150.00M	USD	1 Quarter
Patent acquisition costs	`PaymentsToAcquireIntangibleAssets`	$4.01M	USD	1 Quarter
Patent acquisition costs	`PaymentsToAcquireIntangibleAssets`	$2.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-276.89M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-48.21M	USD	1 Quarter
Proceeds from sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$219.08M	USD	1 Quarter
Proceeds from sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$218.96M	USD	Point-in-time
Contributions from noncontrolling interests in operating subsidiary	`ProceedsFromMinorityShareholders`	$1.92M	USD	1 Quarter
Contributions from noncontrolling interests in operating subsidiary	`ProceedsFromMinorityShareholders`	$1.92M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$7.61M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$709.00K	USD	1 Quarter
Proceeds from exercises of stock options	`ProceedsFromStockOptionsExercised`	$117.00K	USD	1 Quarter
Proceeds from exercises of stock options	`ProceedsFromStockOptionsExercised`	$84.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.75M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$228.70M	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$765.00K	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-28.64M	USD	1 Quarter
Cash and cash equivalents, beginning	`CashAndCashEquivalentsAtCarryingValue`	$193.16M	USD	Point-in-time
Cash and cash equivalents, beginning	`CashAndCashEquivalentsAtCarryingValue`	$315.50M	USD	Point-in-time
Cash and cash equivalents, beginning	`CashAndCashEquivalentsAtCarryingValue`	$314.73M	USD	Point-in-time
Cash and cash equivalents, beginning	`CashAndCashEquivalentsAtCarryingValue`	$221.80M	USD	Point-in-time
Cash and cash equivalents, ending	`CashAndCashEquivalentsAtCarryingValue`	$193.16M	USD	Point-in-time
Cash and cash equivalents, ending	`CashAndCashEquivalentsAtCarryingValue`	$315.50M	USD	Point-in-time
Cash and cash equivalents, ending	`CashAndCashEquivalentsAtCarryingValue`	$314.73M	USD	Point-in-time
Cash and cash equivalents, ending	`CashAndCashEquivalentsAtCarryingValue`	$221.80M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Income tax benefit (expense) included in unrealized gain on short-term investments	`IncomeTaxIncludedInUnrealizedGainOnShortTermInvestments`	$396.00K	USD	1 Quarter
Net income (loss) attributable to Acacia Research Corporation	`NetIncomeLoss`	$5.11M	USD	1 Quarter
Net income (loss) attributable to Acacia Research Corporation	`NetIncomeLoss`	$49.93M	USD	1 Quarter
Income tax benefit (expense) included in unrealized gain on short-term investments	`IncomeTaxIncludedInUnrealizedGainOnShortTermInvestments`	-	USD	1 Quarter
Unrealized gain (loss) on short-term investments, net of income tax benefit (expense) of $0 for the three months ended March 31, 2013, and $396 for the three months ended March 31, 2012	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$2.43M	USD	1 Quarter
Unrealized gain (loss) on short-term investments, net of income tax benefit (expense) of $0 for the three months ended March 31, 2013, and $396 for the three months ended March 31, 2012	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.70M	USD	1 Quarter
Add: reclassification adjustment for losses included in net income (loss)	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax`	-	USD	1 Quarter
Add: reclassification adjustment for losses included in net income (loss)	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax`	$-848.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$5.96M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$52.36M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.