| For the Six Months Ended June 30, | |||||||||||||||
| 2018 | 2017 | ||||||||||||||
| As Reported ASC 606 | Adjustment | ASC 605* | As Reported (ASC 605) | ||||||||||||
| REVENUES: | |||||||||||||||
| Variable patent royalty revenue | $ | 12,677 | $ | 4,776 | $ | 17,453 | $ | 27,257 | |||||||
| Fixed-fee royalty revenue | 117,935 | 39,772 | 157,707 | 146,430 | |||||||||||
| Current patent royalties | 130,612 | 44,548 | 175,160 | 173,687 | |||||||||||
| Non-current patent royalties | 25,361 | (10,000 | ) | 15,361 | 47,860 | ||||||||||
| Total patent royalties | 155,973 | 34,548 | 190,521 | 221,547 | |||||||||||
| Current technology solutions revenue | 1,026 | 4,035 | 5,061 | 8,762 | |||||||||||
| $ | 156,999 | $ | 38,583 | $ | 195,582 | $ | 230,309 | ||||||||
| OPERATING EXPENSES: | |||||||||||||||
| Patent administration and licensing | 53,403 | — | 53,403 | 50,112 | |||||||||||
| Development | 32,003 | — | 32,003 | 38,879 | |||||||||||
| Selling, general and administrative | 25,763 | — | 25,763 | 26,402 | |||||||||||
| 111,169 | — | 111,169 | 115,393 | ||||||||||||
| Income from operations | 45,830 | 38,583 | 84,413 | 114,916 | |||||||||||
| OTHER EXPENSE (NET) | (11,183 | ) | 9,011 | (2,172 | ) | (5,144 | ) | ||||||||
| Income before income taxes | 34,647 | 47,594 | 82,241 | 109,772 | |||||||||||
| INCOME TAX BENEFIT (EXPENSE) | 3,858 | (8,931 | ) | (5,073 | ) | (25,450 | ) | ||||||||
| NET INCOME | $ | 38,505 | $ | 38,663 | $ | 77,168 | $ | 84,322 | |||||||
| Net loss attributable to noncontrolling interest | (2,126 | ) | — | (2,126 | ) | (1,933 | ) | ||||||||
| NET INCOME ATTRIBUTABLE TO INTERDIGITAL, INC. | $ | 40,631 | $ | 38,663 | $ | 79,294 | $ | 86,255 | |||||||
| NET INCOME PER COMMON SHARE — BASIC | $ | 1.17 | $ | 1.11 | $ | 2.28 | $ | 2.50 | |||||||
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING — BASIC | 34,705 | — | 34,705 | 34,528 | |||||||||||
| NET INCOME PER COMMON SHARE — DILUTED | $ | 1.14 | $ | 1.09 | $ | 2.23 | $ | 2.39 | |||||||
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING — DILUTED | 35,619 | — | 35,619 | 36,103 | |||||||||||
| CASH DIVIDENDS DECLARED PER COMMON SHARE | $ | 0.70 | $ | — | $ | 0.70 | $ | 0.60 | |||||||
Note: Certain reclassifications have been made to prior period amounts to conform to the current period presentation.
