| SUMMARY CONSOLIDATED CASH FLOWS | |||||||
| (in thousands) | |||||||
| (unaudited) | |||||||
|
For the Three Months
Ended March 31, | |||||||
| 2023 | 2022 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
| Net income | $ | 103,520 | $ | 17,704 | |||
| Non-cash adjustments | (4,004 | ) | (22,083 | ) | |||
| Working capital changes | (127,368 | ) | (13,593 | ) | |||
| Net cash used in operating activities | (27,852 | ) | (17,972 | ) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Net (purchases) sales of short-term investments | (5,982 | ) | 117,811 | ||||
| Capitalized patent costs and purchases of property and equipment | (8,481 | ) | (10,209 | ) | |||
| Net cash (used in) provided by investing activities | (14,463 | ) | 107,602 | ||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Repurchase of common stock | (203,381 | ) | — | ||||
| Dividends paid | (10,384 | ) | (10,741 | ) | |||
| Other | (4,371 | ) | (2,300 | ) | |||
| Net cash used in financing activities | (218,136 | ) | (13,041 | ) | |||
| NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (260,451 | ) | 76,589 | ||||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD | 703,161 | 713,224 | |||||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD | $ | 442,710 | $ | 789,813 | |||
InterDigital Announces Financial Results for First Quarter 2023
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