10-Q Filing

ACACIA RESEARCH CORP CIK: 934549 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0000934549-13-000014`
Period End Date	20130630
Filing Date	20130807
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	actg-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 4 Cash Flow Statement 65 Comprehensive Income 20

Balance Sheet 76 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`	$221.80M	USD	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`	$296.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$148.91M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$171.22M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$89.47M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	49.16M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	49.88M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$16.78M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	49.16M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$9.84M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	49.88M	shares	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`	$3.44M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.46M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$345.36M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$324.56M	USD	Point-in-time
Property and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$607.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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`	$303.49M	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
Goodwill	`Goodwill`	$30.15M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	1.13M	shares	Point-in-time
Goodwill	`Goodwill`	$30.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$986.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$137.00K	USD	Point-in-time
Total assets	`Assets`	$668.72M	USD	Point-in-time
Total assets	`Assets`	$680.59M	USD	Point-in-time
Accounts payable and accrued expenses / costs	`AccountsPayableAndAccruedLiabilitiesCurrent`	$9.48M	USD	Point-in-time
Accounts payable and accrued expenses / costs	`AccountsPayableAndAccruedLiabilitiesCurrent`	$15.59M	USD	Point-in-time
Accrued patent acquisition related payments, current	`AccruedPatentAcquisitionRelatedPaymentsCurrent`	$6.51M	USD	Point-in-time
Accrued patent acquisition related payments, current	`AccruedPatentAcquisitionRelatedPaymentsCurrent`	-	USD	Point-in-time
Royalties and contingent legal fees payable	`RoyaltiesAndContingentLegalFeesPayable`	$12.51M	USD	Point-in-time
Royalties and contingent legal fees payable	`RoyaltiesAndContingentLegalFeesPayable`	$19.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$42.09M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$27.83M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$17.28M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.32M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$415.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$61.69M	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; 49,883,234 and 49,160,844 shares issued and outstanding as of June 30, 2013 and December 31, 2012, respectively	`CommonStockValue`	$50.00K	USD	Point-in-time
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 49,883,234 and 49,160,844 shares issued and outstanding as of June 30, 2013 and December 31, 2012, respectively	`CommonStockValue`	$49.00K	USD	Point-in-time
Treasury stock, at cost, 1,129,408 shares as of June 30, 2013 and December 31, 2012	`TreasuryStockValue`	$26.73M	USD	Point-in-time
Treasury stock, at cost, 1,129,408 shares as of June 30, 2013 and December 31, 2012	`TreasuryStockValue`	$26.73M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$651.35M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$644.98M	USD	Point-in-time
Accumulated comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-658.00K	USD	Point-in-time
Accumulated comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-1.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.02M	USD	Point-in-time
Total Acacia Research Corporation stockholders' equity	`StockholdersEquity`	$611.50M	USD	Point-in-time
Total Acacia Research Corporation stockholders' equity	`StockholdersEquity`	$610.99M	USD	Point-in-time
Noncontrolling interests in operating subsidiaries	`MinorityInterest`	$6.98M	USD	Point-in-time
Noncontrolling interests in operating subsidiaries	`MinorityInterest`	$7.92M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$618.90M	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`	$680.59M	USD	Point-in-time

Income Statement 4 line items

Line Item	Tag	Value	Unit	Period
Non-cash stock compensation	`ShareBasedCompensation`	$6.27M	USD	1 Quarter
Non-cash stock compensation	`ShareBasedCompensation`	$6.00M	USD	1 Quarter
Non-cash stock compensation	`ShareBasedCompensation`	$11.09M	USD	2 Qtrs
Non-cash stock compensation	`ShareBasedCompensation`	$11.43M	USD	2 Qtrs

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Payments of Dividends	`PaymentsOfDividends`	$6.15M	USD	2 Qtrs
Payments of Dividends	`PaymentsOfDividends`	-	USD	2 Qtrs
Patent acquisition costs included in accrued expenses	`PatentAcquisitionCostsIncludedInAccruedExpenses`	$10.20M	USD	2 Qtrs
Patent acquisition costs included in accrued expenses	`PatentAcquisitionCostsIncludedInAccruedExpenses`	$8.51M	USD	2 Qtrs
Net income (loss) including noncontrolling interests in operating subsidiaries	`ProfitLoss`	$-13.48M	USD	1 Quarter
Net income (loss) including noncontrolling interests in operating subsidiaries	`ProfitLoss`	$6.38M	USD	1 Quarter
Net income (loss) including noncontrolling interests in operating subsidiaries	`ProfitLoss`	$-8.37M	USD	2 Qtrs
Net income (loss) including noncontrolling interests in operating subsidiaries	`ProfitLoss`	$56.03M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$24.41M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.59M	USD	2 Qtrs
Non-cash stock compensation	`ShareBasedCompensation`	$6.27M	USD	1 Quarter
Non-cash stock compensation	`ShareBasedCompensation`	$6.00M	USD	1 Quarter
Non-cash stock compensation	`ShareBasedCompensation`	$11.09M	USD	2 Qtrs
Non-cash stock compensation	`ShareBasedCompensation`	$11.43M	USD	2 Qtrs
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$10.85M	USD	2 Qtrs
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$847.00K	USD	2 Qtrs
Change in valuation allowance	`ValuationAllowanceDeferredTaxAssetChangeInAmount`	-	USD	2 Qtrs
Change in valuation allowance	`ValuationAllowanceDeferredTaxAssetChangeInAmount`	$10.20M	USD	1 Quarter
Change in valuation allowance	`ValuationAllowanceDeferredTaxAssetChangeInAmount`	$10.24M	USD	2 Qtrs
Other	`OtherOperatingActivitiesCashFlowStatement`	$49.00K	USD	2 Qtrs
Other	`OtherOperatingActivitiesCashFlowStatement`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.94M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.91M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.86M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$271.00K	USD	2 Qtrs
Accounts payable and accrued expenses / costs	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$13.79M	USD	2 Qtrs
Accounts payable and accrued expenses / costs	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.36M	USD	2 Qtrs
Royalties and contingent legal fees payable	`IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable`	$-4.41M	USD	2 Qtrs
Royalties and contingent legal fees payable	`IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable`	$7.48M	USD	2 Qtrs
Deferred income tax	`IncreaseDecreaseInDeferredIncomeTaxes`	$-5.52M	USD	2 Qtrs
Deferred income tax	`IncreaseDecreaseInDeferredIncomeTaxes`	$10.55M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.10M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$63.41M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$188.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$365.00K	USD	2 Qtrs
Purchase of available-for-sale investments	`PaymentsToAcquireAvailableForSaleSecurities`	$175.04M	USD	2 Qtrs
Purchase of available-for-sale investments	`PaymentsToAcquireAvailableForSaleSecurities`	$239.95M	USD	2 Qtrs
Maturities and sale of available-for-sale investments	`ProceedsFromSaleOfAvailableForSaleSecurities`	$93.81M	USD	2 Qtrs
Maturities and sale of available-for-sale investments	`ProceedsFromSaleOfAvailableForSaleSecurities`	$117.46M	USD	2 Qtrs
Purchase of ADAPTIX, Inc., net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$150.00M	USD	2 Qtrs
Purchase of ADAPTIX, Inc., net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	2 Qtrs
Patent acquisition costs	`PaymentsToAcquireIntangibleAssets`	$40.44M	USD	2 Qtrs
Patent acquisition costs	`PaymentsToAcquireIntangibleAssets`	$6.26M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-313.11M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-87.86M	USD	2 Qtrs
Proceeds from sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$218.98M	USD	2 Qtrs
Proceeds from sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Contributions from noncontrolling interests in operating subsidiary	`ProceedsFromMinorityShareholders`	$1.92M	USD	2 Qtrs
Contributions from noncontrolling interests in operating subsidiary	`ProceedsFromMinorityShareholders`	$1.92M	USD	2 Qtrs
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$847.00K	USD	2 Qtrs
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$10.85M	USD	2 Qtrs
Proceeds from exercises of stock options	`ProceedsFromStockOptionsExercised`	$88.00K	USD	2 Qtrs
Proceeds from exercises of stock options	`ProceedsFromStockOptionsExercised`	$241.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.14M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$231.84M	USD	2 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-17.87M	USD	2 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-72.89M	USD	2 Qtrs
Cash and cash equivalents, beginning	`CashAndCashEquivalentsAtCarryingValue`	$221.80M	USD	Point-in-time
Cash and cash equivalents, beginning	`CashAndCashEquivalentsAtCarryingValue`	$314.73M	USD	Point-in-time
Cash and cash equivalents, beginning	`CashAndCashEquivalentsAtCarryingValue`	$296.87M	USD	Point-in-time
Cash and cash equivalents, beginning	`CashAndCashEquivalentsAtCarryingValue`	$148.91M	USD	Point-in-time
Cash and cash equivalents, ending	`CashAndCashEquivalentsAtCarryingValue`	$221.80M	USD	Point-in-time
Cash and cash equivalents, ending	`CashAndCashEquivalentsAtCarryingValue`	$314.73M	USD	Point-in-time
Cash and cash equivalents, ending	`CashAndCashEquivalentsAtCarryingValue`	$296.87M	USD	Point-in-time
Cash and cash equivalents, ending	`CashAndCashEquivalentsAtCarryingValue`	$148.91M	USD	Point-in-time

Comprehensive Income 20 line items

Line Item	Tag	Value	Unit	Period
Net income (loss) attributable to Acacia Research Corporation	`NetIncomeLoss`	$-7.39M	USD	2 Qtrs
Income tax benefit (expense) included in unrealized gain on short-term investments	`IncomeTaxIncludedInUnrealizedGainOnShortTermInvestments`	-	USD	1 Quarter
Income tax benefit (expense) included in unrealized gain on short-term investments	`IncomeTaxIncludedInUnrealizedGainOnShortTermInvestments`	-	USD	2 Qtrs
Income tax benefit (expense) included in unrealized gain on short-term investments	`IncomeTaxIncludedInUnrealizedGainOnShortTermInvestments`	$64.00K	USD	1 Quarter
Net income (loss) attributable to Acacia Research Corporation	`NetIncomeLoss`	$6.32M	USD	1 Quarter
Income tax benefit (expense) included in unrealized gain on short-term investments	`IncomeTaxIncludedInUnrealizedGainOnShortTermInvestments`	$-332.00K	USD	2 Qtrs
Net income (loss) attributable to Acacia Research Corporation	`NetIncomeLoss`	$56.25M	USD	2 Qtrs
Net income (loss) attributable to Acacia Research Corporation	`NetIncomeLoss`	$-12.50M	USD	1 Quarter
Unrealized gain (loss) on short-term investments, net of income tax benefit (expense) of $0 and $0 for the three and six months ended June 30, 2013, and $64 and ($332) for the three and six months ended June 30, 2012	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$158.00K	USD	1 Quarter
Unrealized gain (loss) on short-term investments, net of income tax benefit (expense) of $0 and $0 for the three and six months ended June 30, 2013, and $64 and ($332) for the three and six months ended June 30, 2012	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-338.00K	USD	1 Quarter
Unrealized gain (loss) on short-term investments, net of income tax benefit (expense) of $0 and $0 for the three and six months ended June 30, 2013, and $64 and ($332) for the three and six months ended June 30, 2012	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$2.59M	USD	2 Qtrs
Unrealized gain (loss) on short-term investments, net of income tax benefit (expense) of $0 and $0 for the three and six months ended June 30, 2013, and $64 and ($332) for the three and six months ended June 30, 2012	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.36M	USD	2 Qtrs
Reclassification adjustment for losses included in net income (loss)	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax`	$-3.00K	USD	1 Quarter
Reclassification adjustment for losses included in net income (loss)	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax`	$39.00K	USD	1 Quarter
Reclassification adjustment for losses included in net income (loss)	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax`	$-851.00K	USD	2 Qtrs
Reclassification adjustment for losses included in net income (loss)	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax`	$39.00K	USD	2 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$6.52M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-6.88M	USD	2 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-12.84M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$58.88M	USD	2 Qtrs

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