Operating Segments

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Operating Segments

Operating Segments

As of December 31, 2015, the Company held interests in 29 non-consolidated partner companies which are included in the Healthcare and Technology segments. The Company’s active partner companies as of December 31, 2015 by segment were as follows for the years ended December 31, 2015, 2014 and 2013:

Healthcare

	Safeguard Primary Ownership as of December 31,
Partner Company	2015	2014	2013	Accounting Method
AdvantEdge Healthcare Solutions, Inc.	40.1%	40.1%	40.1%	Equity
Aventura, Inc.	19.9%	NA	NA	Equity
Good Start Genetics, Inc.	29.6%	29.9%	30.0%	Equity
InfoBionic, Inc.	38.5%	27.8%	NA	Equity
Medivo, Inc.	34.5%	34.5%	34.5%	Equity
meQuilibrium	31.5%	NA	NA	Equity
NovaSom, Inc.	31.7%	31.7%	30.3%	Equity
Propeller Health, Inc.	24.6%	24.6%	NA	Equity
Putney, Inc.	28.2%	28.3%	27.6%	Equity
Syapse, Inc.	24.4%	27.0%	NA	Equity
Trice Medical, Inc.	27.7%	31.9%	NA	Equity
Zipnosis, Inc	26.3%	NA	NA	Equity

Technology

	Safeguard Primary Ownership as of December 31,
Partner Company	2015	2014	2013	Accounting Method
AppFirst, Inc.	34.2%	34.3%	34.3%	Equity
Apprenda, Inc.	29.5%	21.6%	22.0%	Equity
Beyond.com, Inc.	38.2%	38.2%	38.2%	Equity
Bridgevine, Inc.	17.2%	17.2%	22.7%	Cost (1)
Cask Data, Inc.	34.2%	NA	NA	Equity
CloudMine, Inc.	30.1%	NA	NA	Equity
Clutch Holdings, Inc.	39.3%	29.6%	24.0%	Equity
Full Measure Education, Inc.	25.4%	NA	NA	Equity
Hoopla Software, Inc.	25.6%	25.6%	25.3%	Equity
Lumesis, Inc.	44.7%	45.7%	44.2%	Equity
MediaMath, Inc.	20.6%	20.7%	22.5%	Equity
Pneuron Corporation	35.4%	27.6%	27.6%	Equity
QuanticMind, Inc. (formerly InsideVault, Inc.)	23.6%	NA	NA	Equity
Sonobi, Inc.	22.6%	NA	NA	Equity
Spongecell, Inc.	23.0%	23.0%	23.0%	Equity
Transactis, Inc.	24.5%	24.8%	NA	Equity
WebLinc, Inc.	29.2%	29.2%	NA	Equity

(1) In the second quarter of 2014, the Company’s ownership interest in Bridgevine decreased below the threshold at which the Company believes it exercises significant influence. Accordingly, the Company changed its method of accounting for Bridgevine from the equity method to the cost method.

Results of the Healthcare and Technology segments reflect the equity income (loss) of their respective equity method partner companies, other income (loss) associated with fair value method and cost method partner companies and the gains or losses on the sale of the interests in their respective partner companies.

Management evaluates the Healthcare and Technology segments’ performance based on net income (loss) which is impacted by the number of partner companies accounted for under the equity method, the Company’s voting ownership percentage in these partner companies and the net results of operations of these partner companies, any impairment charges and gain (loss) on the sale of the interests in equity and cost method partner companies.

Other Items include certain expenses which are not identifiable to the operations of the Company’s operating segments. Other Items primarily consist of general and administrative expenses related to corporate operations, including employee compensation, insurance, professional fees, rent expense, interest income, interest expense and other income (loss), equity income (loss) related to certain private equity fund ownership interests and income taxes. Other items also include interest earned on mezzanine loans, gain (loss) on the mark-to-market of our warrant participations, and impairment on debt and equity participation interests in which the Company participates with Penn Mezzanine as well as equity income (loss) associated with the Company's interest in the management company and general partner of Penn Mezzanine, a mezzanine lender focused on lower middle-market, Mid-Atlantic companies. Penn Mezzanine is not making any new loans and has two remaining loans in which the Company has participating interests.

As of December 31, 2015 and 2014, all of the Company’s assets were located in the United States.

Segment assets in Other Items included primarily cash, cash equivalents, and marketable securities of $73.6 million and $156.5 million at December 31, 2015 and 2014, respectively.

The following represents segment data from operations:

	For the Year Ended December 31, 2015
	Healthcare			Technology			Total Segments			Other Items			Total
	(In thousands)
Operating loss	$	—		$	—		$	—		$	(17,554	)	$	(17,554	)
Other income (loss), net	558			—			558			(341		)	217
Equity loss	(23,790		)	(15,691		)	(39,481		)	(118		)	(39,599		)
Net loss	(23,232		)	(15,691		)	(38,923		)	(20,601		)	(59,524		)
Segment Assets:
December 31, 2015	53,332			119,442			172,774			84,860			257,634
	For the Year Ended December 31, 2014
	Healthcare			Technology			Total Segments			Other Items			Total
	(In thousands)
Operating loss	$	—		$	—		$	—		$	(18,970	)	$	(18,970	)
Other income (loss), net	31,820			—			31,820			(163		)	31,657
Equity loss	(3,944		)	(10,831		)	(14,775		)	(560		)	(15,335		)
Net income (loss)	27,876			(10,831		)	17,045			(22,194		)	(5,149		)
Segment Assets:
December 31, 2014	62,292			88,408			150,700			167,754			318,454
	For the Year Ended December 31, 2013
	Healthcare			Technology			Total Segments			Other Items			Total
	(In thousands)
Operating loss	$	—		$	—		$	—		$	(21,644	)	$	(21,644	)
Other income (loss), net	(857		)	—			(857		)	1,240			383
Equity income (loss)	(31,706		)	20,899			(10,807		)	(1,800		)	(12,607		)
Net income (loss)	(32,563		)	20,899			(11,664		)	(23,861		)	(35,525		)

Net loss from Other Items was as follows:

	Year Ended December 31,
	2015			2014			2013
	(In thousands)
Corporate operations	$	(20,601	)	$	(22,194	)	$	(23,861	)
Income tax benefit (expense)	—			—			—
	$	(20,601	)	$	(22,194	)	$	(23,861	)