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Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2022

Business Acquisition [Line Items]

Summary of Consolidated Statement of Operations, Balance Sheet and Cash flows of Discontinued Operation

The financial results of Xperi Inc. through September 30, 2022 are presented as net loss from discontinued operations, net of tax, on the Consolidated Statements of Operations. The following table presents financial results of Xperi Inc. (in thousands):

		2022 (1)				2021				2020
Revenue		$	366,730			$	486,484			$	376,101
Operating expenses:
Cost of revenue			85,689				125,627				77,788
Research and development			158,708				194,869				161,630
Selling, general and administrative			123,764				137,745				109,188
Depreciation expense			15,702				21,777				16,298
Amortization expense			46,166				105,311				98,209
Litigation expense			921				6,371				2,815
Goodwill impairment			354,000				—				—
Total operating expenses			784,950				591,700				465,928
Operating loss			(418,220	)			(105,216	)			(89,827	)
Interest expense			(754	)			—				—
Other income and expense, net			62				1,870				1,242
Loss before taxes			(418,912	)			(103,346	)			(88,585	)
Provision for income taxes			18,066				23,550				7,425
Net loss from discontinued operations, net of tax		$	(436,978	)		$	(126,896	)		$	(96,010	)
Less: net loss attributable to noncontrolling interest			(2,706	)			(3,456	)			(2,966	)
Net loss attributable to discontinued operations		$	(434,272	)		$	(123,440	)		$	(93,044	)

(1) Represents nine months of Xperi Inc.'s operations in 2022, as compared to a full year of Xperi Inc.'s operations in 2021 and 2020.

Assets and Liabilities of Discontinued Operations

The following table presents the aggregate carrying amounts of the major classes of assets and liabilities of discontinued operations (in thousands):

		2021
Assets
Current assets:
Cash and cash equivalents		$	120,695
Accounts receivable, net of allowance for credit losses			79,494
Unbilled contracts receivable, net			50,962
Other current assets			25,969
Total current assets of discontinued operations			277,120
Long-term unbilled contracts receivable			3,825
Property and equipment, net			56,038
Operating lease right-of-use assets			61,858
Intangible assets, net			270,934
Goodwill			536,512
Other long-term assets			20,260
Total assets of discontinued operations		$	1,226,547
Liabilities
Current liabilities:
Accounts payable		$	7,362
Accrued legal fees			2,210
Accrued liabilities			81,764
Deferred revenue			28,161
Total current liabilities of discontinued operations			119,497
Deferred revenue, less current portion			23,663
Long-term deferred tax liabilities			12,771
Noncurrent operating lease liabilities			49,017
Other long-term liabilities			3,606
Total liabilities of discontinued operations		$	208,554

The following table presents selected financial information related to cash flows from discontinued operations:

		2022 (1)				2021				2020
Net cash from operating activities		$	2,308			$	24,395			$	29,207
Net cash from investing activities		$	(61,097	)		$	(21,479	)		$	26,527

(1) Represents nine months of Xperi Inc.'s operations in 2022, as compared to a full year of Xperi Inc.'s operations in 2021 and 2020.

MobiTV

Business Acquisition [Line Items]

Schedule of Purchase Price Allocation Reflective of Measurement Period Adjustments

The following table sets forth the final purchase price allocation (in thousands):

		Estimated Useful  Life (years)						Final Fair Value
Other current assets								$	390
Property and equipment									9,223
Operating lease right-of-use assets									1,186
Identifiable intangible assets:
Patents		10			5,000
Technology		6			3,260
Total identifiable intangible assets									8,260
Goodwill									4,059
Other long-term assets									115
Accrued liabilities									(5,288	)
Noncurrent operating lease liabilities									(545	)
Total purchase price								$	17,400

Schedule of Unaudited Pro Forma Financial Information

The following table presents the pro forma operating results as if the acquired operations of MobiTV had been included in the Company's Condensed Consolidated Statements of Operations as of January 1, 2020 (unaudited, in thousands):

		Years Ended December 31,
		2021				2020
Net loss attributable to discontinued operations		$	(71,169	)		$	105,793

Vewd Acquisition

Business Acquisition [Line Items]

Schedule of Purchase Price Allocation Reflective of Measurement Period Adjustments

The following table presents the allocation of the purchase price to the identifiable assets acquired and liabilities assumed based on the fair values at the acquisition date (in thousands):

		Estimated Useful  Life (years)								Estimated Fair Value
Cash and cash equivalents										$	2,684
Accounts receivable											3,341
Unbilled contracts receivable											2,335
Other current assets											1,208
Property and equipment											443
Operating lease right-of-use assets											2,020
Identifiable intangible assets:
Technology		7					28,050
Customer relationships - large		7					4,900
Customer relationships - small		4					3,500
Non-compete agreements		2					870
Trade name			5				830
Total identifiable intangible assets											38,150
Goodwill											68,115
Other long-term assets											977
Current liabilities											(6,566	)
Long-term deferred tax liabilities											(8,393	)
Noncurrent operating lease liabilities											(1,094	)
Other long-term liabilities											(307	)
Total purchase price										$	102,913

Schedule of Unaudited Pro Forma Financial Information

The following table presents the pro forma operating results as if the acquired operations of Vewd had been included in the Company's Consolidated Statements of Operations as of January 1, 2021 (unaudited, in thousands):

	Nine Months Ended September 30,
	2022				2021
Net loss attributable to discontinued operations	$	(377,614	)		$	(62,976	)

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