InterDigital Reports Fourth Quarter and Full Year 2015 Financial Results



CONDENSED CONSOLIDATED BALANCE SHEETS
(dollars in thousands)
(unaudited)
 
  DECEMBER 31,
2015
  DECEMBER 31,
2014
ASSETS   
Cash & short-term investments$933,708  $703,928 
Accounts receivable (net)53,868  51,702 
Other current assets23,391  32,227 
Property & equipment and patents (net)289,727  278,086 
Other long-term assets (net)173,791  127,019 
TOTAL ASSETS$1,474,485  $1,192,962 
    
LIABILITIES AND SHAREHOLDERS’ EQUITY   
Current portion of long-term debt$227,174  $— 
Accounts payable, accrued liabilities, taxes payable & dividends payable66,570  80,474 
Current deferred revenue106,229  124,695 
Long-term deferred revenue289,039  293,342 
Long-term debt & other long-term liabilities263,578  218,774 
TOTAL LIABILITIES952,590  717,285 
TOTAL INTERDIGITAL, INC. SHAREHOLDERS' EQUITY510,519  468,328 
Noncontrolling interest11,376  7,349 
TOTAL EQUITY521,895  475,677 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$1,474,485  $1,192,962 


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.

   For the Three Months
Ended December 31,
  For the Year Ended
December 31,
   2015  2014  2015  2014
Net cash provided by operating activities $86,777  $55,984  $114,499  $242,013 
Purchases of property, equipment, & technology licenses (1,865) (3,899) (3,700) (7,095)
Capitalized patent costs (5,760) (8,607) (29,766) (31,932)
Free cash flow $79,152  $43,478  $81,033  $202,986 


 

CONTACT:
InterDigital,  Inc.:
Patrick  Van  de  Wille
patrick.vandewille@interdigital.com
  +1  (858)  210-4814 

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