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Quarterly Financial Data
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Data [Abstract]  
Quarterly Financial Data
QUARTERLY FINANCIAL DATA (unaudited)
The following table sets forth unaudited consolidated statements of operations data for the eight quarters in the period ended December 31, 2014. This information has been derived from Acacia’s unaudited condensed consolidated financial statements that have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, include all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the information when read in conjunction with the audited consolidated financial statements and related notes thereto. Acacia’s quarterly results have been, and may in the future be, subject to significant fluctuations. As a result, Acacia believes that results of operations for interim periods should not be relied upon as any indication of the results to be expected in any future periods.
 
 
Quarter Ended
 
 
Mar. 31,
 
Jun. 30,
 
Sept. 30,
 
Dec. 31,
 
Mar. 31,
 
Jun. 30,
 
Sept. 30,
 
Dec. 31,
 
 
2014
 
2014
 
2014
 
2014
 
2013
 
2013
 
2013
 
2013
 
 
(Unaudited, in thousands, except share and per share information)
Revenues
 
$
12,578

 
$
50,076

 
$
37,192

 
$
31,030

 
$
76,861

 
$
23,110

 
$
15,520

 
$
15,065

Operating costs and expenses:
 
 

 
 

 
 
 
 
 
 

 
 

 
 

 
 
Cost of revenues:
 
 

 
 

 
 
 
 
 
 

 
 

 
 

 
 
Inventor royalties
 
951

 
10,694

 
4,667

 
4,358

 
18,481

 
5,610

 
2,353

 
3,280

Contingent legal fees
 
1,527

 
7,077

 
7,663

 
7,296

 
15,032

 
4,024

 
2,547

 
3,181

Litigation and licensing expenses - patents
 
8,994

 
10,820

 
9,592

 
8,208

 
9,648

 
9,918

 
10,870

 
8,899

Amortization of patents
 
14,472

 
15,532

 
13,511

 
13,727

 
11,730

 
12,578

 
12,615

 
16,735

Marketing, general and administrative expenses (including non-cash stock compensation expense)
 
11,693

 
13,181

 
11,636

 
12,044

 
13,844

 
13,184

 
18,235

 
13,988

Research, consulting and other expenses - business development
 
992

 
1,003

 
1,208

 
637

 
1,031

 
726

 
730

 
742

Other
 
—

 
—

 
1,548

 
—

 
—

 
—

 
3,506

 
—

Total operating costs and expenses
 
38,629

 
58,307

 
49,825

 
46,270

 
69,766

 
46,040

 
50,856

 
46,825

Operating income (loss)
 
(26,051
)
 
(8,231
)
 
(12,633
)
 
(15,240
)
 
7,095

 
(22,930
)
 
(35,336
)
 
(31,760
)
Total other income (expense)
 
109

 
(196
)
 
(57
)
 
(451
)
 
1,290

 
400

 
280

 
161

Income (loss) before (provision for) benefit from income taxes
 
(25,942
)
 
(8,427
)
 
(12,690
)
 
(15,691
)
 
8,385

 
(22,530
)
 
(35,056
)
 
(31,599
)
Benefit from (provision for) income taxes
 
1,372

 
(4,689
)
 
(145
)
 
(450
)
 
(3,272
)
 
9,050

 
19,570

 
(3,390
)
Net income (loss) including noncontrolling interests
 
(24,570
)
 
(13,116
)
 
(12,835
)
 
(16,141
)
 
5,113

 
(13,480
)
 
(15,486
)
 
(34,989
)
Net (income) loss attributable to noncontrolling interests in operating subsidiaries
 
149

 
167

 
420

 
(103
)
 
—

 
977

 
(225
)
 
1,656

Net income (loss) attributable to Acacia Research Corporation
 
$
(24,421
)
 
$
(12,949
)
 
$
(12,415
)
 
$
(16,244
)
 
$
5,113

 
$
(12,503
)
 
$
(15,711
)
 
$
(33,333
)
Net income (loss) per common share attributable to Acacia Research Corporation:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Basic income (loss) per share - As Adjusted(1)
 
$
(0.51
)
 
$
(0.27
)
 
$
(0.26
)
 
$
(0.34
)
 
$
0.10

 
$
(0.26
)
 
$
(0.33
)
 
$
(0.69
)
Diluted income (loss) per share - As Adjusted(1)
 
$
(0.51
)
 
$
(0.27
)
 
$
(0.26
)
 
$
(0.34
)
 
$
0.10

 
$
(0.26
)
 
$
(0.33
)
 
$
(0.69
)
Weighted-average number of shares outstanding, basic - As Adjusted(1)
 
48,329,375

 
48,543,334

 
48,806,334

 
48,944,914

 
47,859,774

 
48,008,998

 
48,330,149

 
48,415,684

Weighted-average number of shares outstanding, diluted - As Adjusted(1)
 
48,329,375

 
48,543,334

 
48,806,334

 
48,944,914

 
48,104,242

 
48,008,998

 
48,330,149

 
48,415,684


 
 
Quarter Ended
 
 
Mar. 31,
 
Jun. 30,
 
Sept. 30,
 
Dec. 31,
 
Mar. 31,
 
Jun. 30,
 
Sept. 30,
 
Dec. 31,
 
 
2014
 
2014
 
2014
 
2014
 
2013
 
2013
 
2013
 
2013
 
 
(Unaudited, In thousands, except share and per share information)
Basic income (loss) per share - As Reported(1)
 
N/A
 
N/A
 
N/A
 
N/A
 
$
0.11

 
$
(0.26
)
 
N/A
 
N/A
Diluted income (loss) per share - As Reported(1)
 
N/A
 
N/A
 
N/A
 
N/A
 
$
0.11

 
$
(0.26
)
 
N/A
 
N/A
Weighted-average number of shares outstanding, basic - As Reported(1)
 
N/A
 
N/A
 
N/A
 
N/A
 
47,859,774

 
48,008,998

 
N/A
 
N/A
Weighted-average number of shares outstanding, diluted - As Reported(1)
 
N/A
 
N/A
 
N/A
 
N/A
 
48,354,444

 
48,008,998

 
N/A
 
N/A
_______________________
(1) - Revision of Prior Period Earnings (Loss) Per Share - Two-Class Method. In connection with the preparation of the Company’s Quarterly Report on Form 10-Q as of and for the three months ended September 30, 2013, the Company determined that its basic and diluted net income (loss) per share calculations should have been prepared using the “two-class method.” Under the two-class method, securities that participate in dividends are considered “participating securities.” The Company’s unvested restricted shares outstanding are considered “participating securities” because they include non-forfeitable rights to dividends.

Pursuant to guidance set forth in Staff Accounting Bulletin (“SAB”) No. 99, “Materiality,” the Company concluded that the errors were not material to any of its prior period financial statements. Although the errors were immaterial to prior periods, the prior period financial statements presented herein were revised, in accordance with SAB No. 108, “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements.”