Operating Segments

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Operating Segments

Operating Segments

As of June 30, 2016, the Company held interests in 27 non-consolidated partner companies which are included in the Healthcare and Technology segments. The Company’s active partner companies by segment were as follows as of June 30, 2016:

Healthcare
Partner Company	Safeguard Primary Ownership as of June 30, 2016	Accounting Method
AdvantEdge Healthcare Solutions, Inc.	40.1%	Equity
Aktana, Inc.	23.4%	Equity
Aventura, Inc.	19.9%	Equity
Good Start Genetics, Inc.	29.6%	Equity
InfoBionic, Inc.	40.5%	Equity
Medivo, Inc.	34.5%	Equity
meQuilibrium	31.5%	Equity
NovaSom, Inc.	31.7%	Equity
Propeller Health, Inc.	24.5%	Equity
Syapse, Inc.	29.2%	Equity
Trice Medical, Inc.	27.7%	Equity
Zipnosis, Inc.	26.2%	Equity

Technology
Partner Company	Safeguard Primary Ownership as of June 30, 2016	Accounting Method
Apprenda, Inc.	29.5%	Equity
Beyond.com, Inc.	38.2%	Equity
Cask Data, Inc.	34.2%	Equity
CloudMine, Inc.	30.1%	Equity
Clutch Holdings, Inc.	38.5%	Equity
Full Measure Education, Inc.	36.0%	Equity
Hoopla Software, Inc.	25.6%	Equity
Lumesis, Inc.	44.2%	Equity
MediaMath, Inc.	20.5%	Equity
Pneuron Corporation	35.4%	Equity
QuanticMind, Inc.	23.6%	Equity
Sonobi, Inc.	22.6%	Equity
Spongecell, Inc.	23.0%	Equity
Transactis, Inc.	24.2%	Equity
WebLinc, Inc.	38.0%	Equity

Results of the Healthcare and Technology segments reflect the equity income (loss) of their respective equity method partner companies, other income (loss) associated with 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 and professional fees, including legal and finance, 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 June 30, 2016 and December 31, 2015, 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 totaling $91.4 million and $73.6 million at June 30, 2016 and December 31, 2015, respectively.

	Three months ended June 30, 2016
	Healthcare		Technology			Total Segments		Other Items			Total
	(Unaudited - In thousands)
Operating loss	$	—	$	—		$	—	$	(4,849	)	$	(4,849	)
Other income (loss), net	—		424			424		235			659
Equity income (loss)	48,184		(4,101		)	44,083		(289		)	43,794
Net income (loss)	48,184		(3,677		)	44,507		(5,531		)	38,976
Segment Assets:
June 30, 2016	56,236		117,622			173,858		101,811			275,669
December 31, 2015	53,332		119,442			172,774		84,069			256,843

	Three months ended June 30, 2015
	Healthcare			Technology			Total Segments			Other Items			Total
	(Unaudited - In thousands)
Operating loss	$	—		$	—		$	—		$	(4,754	)	$	(4,754	)
Other income (loss), net	(72		)	—			(72		)	57			(15		)
Equity loss	(13,063		)	(606		)	(13,669		)	(96		)	(13,765		)
Net loss	(13,135		)	(606		)	(13,741		)	(5,281		)	(19,022		)

	Six months ended June 30, 2016
	Healthcare			Technology			Total Segments			Other Items			Total
	(Unaudited - In thousands)
Operating loss	$	—		$	—		$	—		$	(10,077	)	$	(10,077	)
Other income (loss), net	—			424			424			235			659
Equity income (loss)	43,188			(8,601		)	34,587			(288		)	34,299
Net income (loss)	43,188			(8,177		)	35,011			(11,487		)	23,524
	Six months ended June 30, 2015
	Healthcare			Technology			Total Segments			Other Items			Total
	(Unaudited - In thousands)
Operating loss	$	—		$	—		$	—		$	(9,634	)	$	(9,634	)
Other income (loss), net	(311		)	—			(311		)	(92		)	(403		)
Equity income (loss)	(17,105		)	(5,378		)	(22,483		)	56			(22,427		)
Net loss	(17,416		)	(5,378		)	(22,794		)	(10,831		)	(33,625		)