SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The Company’s reportable segment information, including Deflecto’s operations from October 18, 2024 through December 31, 2024, is as follows:

	Year Ended December 31, 2024
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufacturing Operations		Total
	(In thousands)
Revenues:
License fees	$	19,525	$	—	$	—	$	—	$	19,525
Revenues - industrial operations	—		30,421		—		—		30,421
Oil sales	—		—		26,468		—		26,468
Natural gas sales	—		—		9,194		—		9,194
Natural gas liquids sales	—		—		13,014		—		13,014
Other service sales	—		—		507		—		507
Air distribution	—		—		—		7,782		7,782
Safety products	—		—		—		7,977		7,977
Office products	—		—		—		7,424		7,424
Total revenues	19,525		30,421		49,183		23,183		122,312
Cost of revenues:
Cost of sales - intellectual property operations	24,551		—		—		—		24,551
Cost of sales - industrial operations	—		14,912		—		—		14,912
Cost of sales - manufacturing operations	—		—		—		16,904		16,904
Cost of production	—		—		36,291		—		36,291
Total cost of revenues	24,551		14,912		36,291		16,904		92,658
Segment gross (loss) profit	(5,026)		15,509		12,892		6,279		29,654
Other operating expenses:
General and administrative expenses	8,826		13,705		3,427		6,303		32,261
Total other operating expenses	8,826		13,705		3,427		6,303		32,261
Segment operating (loss) income	$	(13,852)	$	1,804	$	9,465	$	(24)	(2,607)
Parent general and administrative expenses									30,319
Operating loss									(32,926)
Total other expense									(5,221)
Loss before income taxes									$	(38,147)

he Company’s three reportable segments for the year ended December 31, 2023 is as follows:

	Year Ended December 31, 2023
	Intellectual Property Operations		Industrial Operations		Energy Operations		Total
	(In thousands)
Revenues:
License fees	$	89,156	$	—	$	—	$	89,156
Revenues - industrial operations	—		35,098		—		35,098
Oil sales	—		—		256		256
Natural gas sales	—		—		372		372
Natural gas liquids sales	—		—		220		220
Total revenues	89,156		35,098		848		125,102
Cost of revenues:
Cost of sales - intellectual property operations	34,164		—		—		34,164
Cost of sales - industrial operations	—		18,009		—		18,009
Cost of production	—		—		656		656
Total cost of revenues	34,164		18,009		656		52,829
Segment gross profit	54,992		17,089		192		72,273
Other operating expenses:
General and administrative expenses	7,402		16,365		264		24,031
Total other operating expenses	7,402		16,365		264		24,031
Segment operating income (loss)	$	47,590	$	724	$	(72)	48,242
Parent general and administrative expenses							27,306
Operating income							20,936
Total other income							46,490
Income before income taxes							$	67,426

Schedule of Segment Reporting Information, by Segment

	December 31,
	2024		2023
	(In thousands)
Total parent assets	150,033		318,727
Segment total assets:
Intellectual property operations	213,854		234,254
Industrial operations	48,438		47,854
Energy operations	209,355		32,710
Manufacturing operations	134,714		—
Total assets	$	756,394	$	633,545

Revenue from External Customers by Geographic Areas

	Year Ended December 31, 2024
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufacturing Operations		Total
	(In thousands)
Revenues by geographic area:
United States	$	7,957	$	12,855	$	49,183	$	13,400	$	83,395
Canada and Latin America	6		857		—		3,569		4,432
Total Americas	7,963		13,712		49,183		16,969		87,827
Europe, Middle East and Africa	—		7,974		—		1,575		9,549
China	4,650		1,482		—		3,923		10,055
India	—		2,700		—		26		2,726
Asia-Pacific, excluding China and India	6,912		4,553		—		690		12,155
Total Asia-Pacific	11,562		8,735		—		4,639		24,936
Total revenues	$	19,525	$	30,421	$	49,183	$	23,183	$	122,312

	Year Ended December 31, 2023
	Intellectual Property Operations		Industrial Operations		Energy Operations		Total
	(In thousands)
Revenues by geographic area:
United States	$	80,407	$	14,128	$	848	$	95,383
Canada and Latin America	514		1,100		—		1,614
Total Americas	80,921		15,228		848		96,997
Europe, Middle East and Africa	—		8,935		—		8,935
China	8,200		3,512		—		11,712
India	—		2,849		—		2,849
Asia-Pacific, excluding China and India	35		4,574		—		4,609
Total Asia-Pacific	8,235		10,935		—		19,170
Total revenues	$	89,156	$	35,098	$	848	$	125,102

Long-lived Assets by Geographic Areas

	December 31, 2024
	Intellectual Property Operations		Industrial Operations		Energy Operations		Manufacturing Operations		Total
	(In thousands)
Long-lived tangible assets by geographic area:
United States	$	126	$	220	$	192,435	$	7,685	$	200,466
Canada	—		—		—		7,225		7,225
Europe	—		99		—		4,257		4,356
Asia-Pacific	—		925		—		2,573		3,498
Total	$	126	$	1,244	$	192,435	$	21,740	$	215,545

	December 31, 2023
	Intellectual Property Operations		Industrial Operations		Energy Operations		Total
	(In thousands)
Long-lived tangible assets by geographic area:
United States	$	201	$	92	$	25,117	$	25,410
Asia-Pacific	—		2,063		—		2,063
Total	$	201	$	2,155	$	25,117	$	27,473