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REVENUE RECOGNITION (Tables)
 3 Months Ended
Mar. 31, 2018
Revenue from Contract with Customer [Abstract]  
Schedule of adjustments and impacts related to adoption of ASC 606
Amounts contained in the tables below are in thousands, except per share data.
 
 
Three Months Ended March 31,
 
 
2018
 
2017
 
 
As Reported
(ASC 606)
 
Adjustments
 
ASC 605
 
As Reported (ASC 605)
Revenues:
 
 
 
 
 
 
 
 
Fixed fee license revenue
 
$
75,756

 
$
(72,341
)
 
$
3,415

 
$
2,510

Per-unit royalty revenue
 
9,579

 
(4,351
)
 
5,228

 
6,496

Total royalty and license revenue
 
85,335

 
(76,692
)
 
8,643

 
9,006

Development, services, and other revenue
 
81

 
—

 
81

 
218

Total revenues
 
$
85,416

 
$
(76,692
)
 
$
8,724

 
$
9,224

Operating expenses
 
15,311

 
—

 
15,311

 
22,076

Operating income (loss)
 
70,105

 
(76,692
)
 
(6,587
)
 
(12,852
)
Interest and other income
 
231

 
—

 
231

 
139

Income (loss) before provision for income taxes
 
70,336

 
(76,692
)
 
(6,356
)
 
(12,713
)
Income tax provision
 
(453
)
 
—

 
(453
)
 
(152
)
Net income (loss)
 
$
69,883

 
$
(76,692
)
 
$
(6,809
)
 
$
(12,865
)
Basic net income (loss) per share
 
$
2.35

 
$
(2.58
)
 
$
(0.23
)
 
$
(0.44
)
Diluted net income (loss) per share
 
$
2.29

 
$
(2.51
)
 
$
(0.22
)
 
$
(0.44
)

(in thousands)
 
March 31, 2018
 
December 31, 2017
 
 
As Reported
(ASC 606)
 
Adjustments
 
ASC 605
 
As Reported (ASC 605)
Prepaid expenses and other current assets
 
5,616

 
(4,847
)
 
769

 
736

Other non-current assets
 
4,808

 
(4,500
)
 
308

 
344

Deferred revenue - current
 
(4,920
)
 
(9,521
)
 
(14,441
)
 
(4,424
)
Long-term deferred revenue
 
(33,665
)
 
(76,160
)
 
(109,825
)
 
(22,303
)
Accumulated Deficit
 
83,398

 
95,027

 
178,425

 
171,616

The following table summarizes adjustments related to the Company's adoption of ASC 606.
(in thousands)
 
Balance at December 31, 2017
as Reported
under ASC 605
 
Adjustment
for Fixed Fee License Revenue *
 
Elimination of Quarter-Lag
Per-Unit Royalties
 
Total Adjustments upon Adoption of ASC 606
 
Balance at January 1, 2018
(ASC 606)
Prepaid expenses and other current assets
 
$
736

 
 
 
$
4,996

 
$
4,996

 
$
5,732

Deferred revenue - current
 
(4,424
)
 
1,766

 
 
 
1,766

 
(2,658
)
Long-term deferred revenue
 
(22,303
)
 
11,573

 
 
 
11,573

 
(10,730
)
Accumulated deficit
 
171,616

 
(13,339
)
 
(4,996
)
 
(18,335
)
 
153,281

* Adjustment for fixed fee license revenue includes both the recognition of Performance Obligation A upon the adoption of ASC 606, which had previously been deferred under ASC 605, and the change in the transaction price allocated to Performance Obligation B and consequently the revenue recognized as of January 1, 2018.
Disaggregated revenue
The following table presents the disaggregation of the Company's revenue for the three months ended March 31, 2018 under ASC 606. Revenues for the three months ended March 31, 2017 are presented in accordance with ASC 605.
(in thousands)
 
Three Months Ended March 31,
 
 
 
 
2018
 
2017
 
Increase (Decrease)
Fixed fee license revenue
 
75,756

 
2,510

 
73,246

 
2,918
 %
Per-Unit royalty revenue
 
9,579

 
6,496

 
3,083

 
47
 %
Total royalty and license revenue
 
85,335

 
9,006

 
76,329

 
848
 %
Development, services, and other revenue
 
81

 
218

 
(137
)
 
(63
)%
Total revenues
 
85,416

 
9,224

 
76,192

 
826
 %
Contracted revenue
Based on contracts signed and payments received as of March 31, 2018, the Company expects to recognize $38.6 million revenue related to Performance Obligation B under its fixed fee license agreements, which is satisfied over time, including $14.3 million over one to three years, and $24.3 million over more than three years, respectively.