SEGMENT REPORTING

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

SEGMENT REPORTING

	Nine Months Ended September 30,
	2023						2022
	Intellectual Property Operations		Industrial Operations		Total		Intellectual Property Operations		Industrial Operations		Total
	(In thousands)
Revenues:
License fees	$	6,330	$	—	$	6,330	$	16,997	$	—	$	16,997
Printers and parts	—		9,640		9,640		—		11,715		11,715
Consumable products	—		14,074		14,074		—		14,308		14,308
Services	—		2,747		2,747		—		3,082		3,082
Total revenues	6,330		26,461		32,791		16,997		29,105		46,102
Cost of revenues:
Inventor royalties	863		—		863		1,092		—		1,092
Contingent legal fees	890		—		890		2,314		—		2,314
Litigation and licensing expenses	5,663		—		5,663		3,272		—		3,272
Amortization of patents	7,802		—		7,802		7,802		—		7,802
Cost of sales	—		13,530		13,530		—		13,432		13,432
Total cost of revenues	15,218		13,530		28,748		14,480		13,432		27,912
Segment gross (loss) profit	(8,888)		12,931		4,043		2,517		15,673		18,190
Other operating expenses:
Engineering and development expenses	—		593		593		—		491		491
Sales and marketing expenses	—		5,385		5,385		—		6,429		6,429
Amortization of intangible assets	—		1,299		1,299		—		1,299		1,299
General and administrative expenses	5,317		5,444		10,761		5,050		6,431		11,481
Total other operating expenses	5,317		12,721		18,038		5,050		14,650		19,700
Segment operating (loss) income	$	(14,205)	$	210	(13,995)		$	(2,533)	$	1,023	(1,510)
Parent general and administrative expenses					23,278						24,033
Operating loss					(37,273)						(25,543)
Total other income (expense)					31,344						(81,216)
Loss before income taxes					$	(5,929)					$	(106,759)

	September 30, 2023		December 31, 2022
	(In thousands)
Equity securities investments:
Equity securities	$	64,511	$	61,608
Equity securities without readily determinable fair value	5,816		5,816
Equity method investments	30,934		30,934
Total parent equity securities investments	101,261		98,358
Other parent assets	222,246		156,394
Segment total assets:
Intellectual property operations	158,603		176,119
Industrial operations	47,037		52,057
Total assets	$	529,147	$	482,928

The Company's revenues and long-lived tangible assets by geographic area are presented below. Intellectual Property Operations revenues are attributed to licensees domiciled in foreign jurisdictions. Printronix's net sales to external customers are attributed to geographic areas based upon the final destination of products shipped. The Company, primarily through its Printronix subsidiary, has identified three global regions for marketing its products and services: Americas, Europe, Middle East and Africa, and Asia-Pacific. Assets are summarized based on the location of held assets.