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2. Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2020
Accounting Policies [Abstract] |
Disaggregation of revenue | Revenues were comprised of the following for the periods presented:
|  | 2020 |  |  | 2019 |
|  | (In thousands) |
Paid-up Revenue Agreements |  | $ | 28,389 |  |  | $ | 6,343 |
Recurring Revenue Agreements |  |  | 1,393 |  |  |  | 4,903 |
Total Revenue |  | $ | 29,782 |  |  | $ | 11,246 |
Schedule of useful lives of property and equipment | . Depreciation and amortization is computed on a straight-line basis over the following estimated useful lives of the assets:
Furniture and fixtures | 3 to 5 years
Computer hardware and software | 3 to 5 years
Leasehold improvements | 2 to 5 years (Lesser of lease term or useful life of improvement)
Calculation of basic and diluted loss per common share |
|  | Years Ended |
|  | December 31, |
|  | 2020 |  |  | 2019 |
|  | (In thousands, except share and per share information) |
Numerator: |  |  |  |  |  |
Net income (loss) attributable to Acacia Research Corporation |  | $ | 113,444 |  |  | $ | (17,115 | )
Dividend on Series A redeemable convertible preferred stock |  |  | (1,381 | ) |  |  | – |
Accretion of Series A redeemable convertible preferred stock |  |  | (2,835 | ) |  |  | (307 | )
Undistributed earnings allocated to participating securities |  |  | (18,898 | ) |  |  | – |
Net income (loss) attributable to common stockholders - basic |  |  | 90,330 |  |  |  | (17,422 | )
Add: Accretion of Series A redeemable convertible preferred stock |  |  | – |  |  |  | 307 |
Less: Change in fair value of Series A redeemable convertible preferred stock embedded derivative |  |  | – |  |  |  | (3,258 | )
Less: Change in fair value of Series A warrants |  |  | (1,348 | ) |  |  | – |
Less: Change in fair value of dilutive Series B warrants |  |  | (5,557 | ) |  |  | – |
Add: Interest expense associated with Starboard Notes, net of tax |  |  | 1,889 |  |  |  | – |
Add: Undistributed earnings allocated to participating securities |  |  | 18,898 |  |  |  | – |
Reallocation of undistributed earnings to participating securities |  |  | (15,740 | ) |  |  | – |
Net income (loss) attributable to common stockholders - diluted |  | $ | 88,471 |  |  | $ | (20,373 | )
Denominator: |  |  |  |  |  |  |  |
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders - basic |  |  | 48,840,829 |  |  |  | 49,764,002 |
Potentially dilutive common shares: |  |  |  |  |  |  |  |
Series A Preferred Stock |  |  | – |  |  |  | 1,132,771 |
Restricted stock units |  |  | 637,044 |  |  |  | – |
Employee stock options |  |  | 2,952 |  |  |  | – |
Series A Warrants |  |  | 77,592 |  |  |  | – |
Series B Warrants |  |  | 7,876,712 |  |  |  | – |
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders - diluted |  |  | 57,435,128 |  |  |  | 50,896,773 |
Basic net income (loss) per common share |  | $ | 1.85 |  |  | $ | (0.35 | )
Diluted net income (loss) per common share |  | $ | 1.54 |  |  | $ | (0.40 | )
Schedule of antidilutive shares |
Anti-dilutive potential common shares excluded from the computation of diluted net income (loss) per common share: |  |  |  |  |  |  |  |
Equity-based incentive awards |  |  | 206,916 |  |  |  | 1,783,254 |
Series A warrants |  |  | – |  |  |  | 5,000,000 |
Series B warrants |  |  | 68,493,151 |  |  |  | – |
Total |  |  | 68,700,067 |  |  |  | 6,783,254 |

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