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SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | The Company's segment information, including Benchmark's operations from November 13, 2023 through 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 |  |  |  |  |  |  |
Printers and parts | — |  |  | 12,513 |  |  | — |  |  | 12,513 |  |  |  |  |  |  |
Consumable products | — |  |  | 19,091 |  |  | — |  |  | 19,091 |  |  |  |  |  |  |
Services | — |  |  | 3,494 |  |  | — |  |  | 3,494 |  |  |  |  |  |  |
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: |  |  |  |  |  |  |  |  |  |  |  |  |
Inventor royalties | 1,025 |  |  | — |  |  | — |  |  | 1,025 |  |  |  |  |  |  |
Contingent legal fees | 10,998 |  |  | — |  |  | — |  |  | 10,998 |  |  |  |  |  |  |
Litigation and licensing expenses | 10,771 |  |  | — |  |  | — |  |  | 10,771 |  |  |  |  |  |  |
Amortization of patents | 11,370 |  |  | — |  |  | — |  |  | 11,370 |  |  |  |  |  |  |
Cost of sales | — |  |  | 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: |  |  |  |  |  |  |  |  |  |  |  |  |
Engineering and development expenses | — |  |  | 735 |  |  | — |  |  | 735 |  |  |  |  |  |  |
Sales and marketing expenses | — |  |  | 6,908 |  |  | — |  |  | 6,908 |  |  |  |  |  |  |
Amortization of intangible assets | — |  |  | 1,732 |  |  | — |  |  | 1,732 |  |  |  |  |  |  |
General and administrative expenses | 7,402 |  |  | 6,990 |  |  | 264 |  |  | 14,656 |  |  |  |  |  |  |
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 |  |  |  |  |  |  |
The Company's two reportable segment information for the year ended December 31, 2022 is as follows:
|  |  |  |  |  |  |  |  | Year Ended December 31, 2022
|  |  |  |  |  |  |  |  | Intellectual Property Operations |  | Industrial Operations |  | Total
|  |  |  |  |  |  |  |  | (In thousands)
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |
License fees |  |  |  |  |  |  |  |  | $ | 19,508 |  |  | $ | — |  |  | $ | 19,508 |
Printers and parts |  |  |  |  |  |  |  |  | — |  |  | 16,118 |  |  | 16,118 |
Consumable products |  |  |  |  |  |  |  |  | — |  |  | 19,314 |  |  | 19,314 |
Services |  |  |  |  |  |  |  |  | — |  |  | 4,283 |  |  | 4,283 |
Total revenues |  |  |  |  |  |  |  |  | 19,508 |  |  | 39,715 |  |  | 59,223 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |  |
Inventor royalties |  |  |  |  |  |  |  |  | 1,212 |  |  | — |  |  | 1,212 |
Contingent legal fees |  |  |  |  |  |  |  |  | 2,444 |  |  | — |  |  | 2,444 |
Litigation and licensing expenses |  |  |  |  |  |  |  |  | 3,970 |  |  | — |  |  | 3,970 |
Amortization of patents |  |  |  |  |  |  |  |  | 10,403 |  |  | — |  |  | 10,403 |
Cost of sales |  |  |  |  |  |  |  |  | — |  |  | 19,359 |  |  | 19,359 |
Total cost of revenues |  |  |  |  |  |  |  |  | 18,029 |  |  | 19,359 |  |  | 37,388 |
Segment gross profit |  |  |  |  |  |  |  |  | 1,479 |  |  | 20,356 |  |  | 21,835 |
Other operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Engineering and development expenses |  |  |  |  |  |  |  |  | — |  |  | 626 |  |  | 626 |
Sales and marketing expenses |  |  |  |  |  |  |  |  | — |  |  | 8,621 |  |  | 8,621 |
Amortization of intangible assets |  |  |  |  |  |  |  |  | — |  |  | 1,732 |  |  | 1,732 |
General and administrative expenses |  |  |  |  |  |  |  |  | 5,428 |  |  | 8,254 |  |  | 13,682 |
Total other operating expenses |  |  |  |  |  |  |  |  | 5,428 |  |  | 19,233 |  |  | 24,661 |
Segment operating (loss) income |  |  |  |  |  |  |  |  | $ | (3,949) |  |  | $ | 1,123 |  |  | (2,826) |
Parent general and administrative expenses |  |  |  |  |  |  |  |  |  |  |  |  | 37,266 |
Operating income loss |  |  |  |  |  |  |  |  |  |  |  |  | (40,092) |
Total other expense |  |  |  |  |  |  |  |  |  |  |  |  | (87,058) |
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $ | (127,150) |
Schedule of Segment Reporting Information, by Segment | The Company's reportable segment information as of December 31, 2023 and 2022 is as follows:
| December 31, 2023 |  | December 31, 2022
| (In thousands)
Equity securities investments: |  |  |
Equity securities | $ | 63,068 |  |  | $ | 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 | 99,818 |  |  | 98,358 |
Other parent assets | 218,909 |  |  | 156,394 |
Segment total assets: |  |  |
Intellectual property operations | 234,254 |  |  | 176,119 |
Industrial operations | 47,854 |  |  | 52,057 |
Energy operations | $ | 32,710 |  |  | $ | — |
Total assets | $ | 633,545 |  |  | $ | 482,928 |
Revenue from External Customers by Geographic Areas |
| 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 |  |  |  |  |  |  |
|  |  |  |  |  |  | Year Ended December 31, 2022
|  |  |  |  |  |  | Intellectual Property Operations |  | Industrial Operations |  | Total
|  |  |  |  |  |  | (In thousands)
Revenues by geographic area: |  |  |  |  |  |  |  |  |  |  |
United States |  |  |  |  |  |  | $ | 18,882 |  |  | $ | 15,541 |  |  | $ | 34,423 |
Canada and Latin America |  |  |  |  |  |  | 11 |  |  | 2,145 |  |  | 2,156 |
Total Americas |  |  |  |  |  |  | 18,893 |  |  | 17,686 |  |  | 36,579 |
Europe, Middle East and Africa |  |  |  |  |  |  | 589 |  |  | 9,298 |  |  | 9,887 |
China |  |  |  |  |  |  | — |  |  | 5,207 |  |  | 5,207 |
India |  |  |  |  |  |  | — |  |  | 2,957 |  |  | 2,957 |
Asia-Pacific, excluding China and India |  |  |  |  |  |  | 26 |  |  | 4,567 |  |  | 4,593 |
Total Asia-Pacific |  |  |  |  |  |  | 26 |  |  | 12,731 |  |  | 12,757 |
Total revenues |  |  |  |  |  |  | $ | 19,508 |  |  | $ | 39,715 |  |  | $ | 59,223 |
Long-lived Assets by Geographic Areas |
| 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 |
Malaysia | — |  |  | 1,949 |  |  | — |  |  | 1,949 |
Other foreign countries | — |  |  | 114 |  |  | — |  |  | 114 |
Total | $ | 201 |  |  | $ | 2,155 |  |  | $ | 25,117 |  |  | $ | 27,473 |
| December 31, 2022
| Intellectual Property Operations |  | Industrial Operations |  | Total
| (In thousands)
Long-lived tangible assets by geographic area: |  |  |  |  |
United States | $ | 324 |  |  | $ | 302 |  |  | $ | 626 |
Malaysia | — |  |  | 2,703 |  |  | 2,703 |
Other foreign countries | — |  |  | 208 |  |  | 208 |
Total | $ | 324 |  |  | $ | 3,213 |  |  | $ | 3,537 |

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