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SEGMENT REPORTING (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | The Company’s reportable segment information is as follows:
|  | Three Months Ended June 30, 2025
|  | Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufacturing Operations |  | Total
|  | (In thousands)
Revenues: |  |  |  |  |  |  |  |  |  |
License fees |  | $ | 329 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 329 |
Revenues - industrial operations |  | — |  |  | 6,590 |  |  | — |  |  | — |  |  | 6,590 |
Oil sales |  | — |  |  | — |  |  | 6,918 |  |  | — |  |  | 6,918 |
Natural gas sales |  | — |  |  | — |  |  | 4,034 |  |  | — |  |  | 4,034 |
Natural gas liquids sales |  | — |  |  | — |  |  | 3,907 |  |  | — |  |  | 3,907 |
Other service sales |  | — |  |  | — |  |  | 458 |  |  | — |  |  | 458 |
Air distribution |  | — |  |  | — |  |  | — |  |  | 9,602 |  |  | 9,602 |
Safety products |  | — |  |  | — |  |  | — |  |  | 11,005 |  |  | 11,005 |
Office products |  | — |  |  | — |  |  | — |  |  | 8,394 |  |  | 8,394 |
Total revenues |  | 329 |  |  | 6,590 |  |  | 15,317 |  |  | 29,001 |  |  | 51,237 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |
Cost of sales - intellectual property operations |  | 6,558 |  |  | — |  |  | — |  |  | — |  |  | 6,558 |
Cost of sales - industrial operations |  | — |  |  | 3,406 |  |  | — |  |  | — |  |  | 3,406 |
Cost of sales - manufacturing operations |  | — |  |  | — |  |  | — |  |  | 22,422 |  |  | 22,422 |
Cost of production |  | — |  |  | — |  |  | 12,309 |  |  | — |  |  | 12,309 |
Total cost of revenues |  | 6,558 |  |  | 3,406 |  |  | 12,309 |  |  | 22,422 |  |  | 44,695 |
Segment gross (loss) profit |  | (6,229) |  |  | 3,184 |  |  | 3,008 |  |  | 6,579 |  |  | 6,542 |
Other operating expenses: |  |  |  |  |  |  |  |  |  |
General and administrative expenses and sales and engineering expenses |  | 1,384 |  |  | 3,110 |  |  | 915 |  |  | 7,205 |  |  | 12,614 |
Total other operating expenses |  | 1,384 |  |  | 3,110 |  |  | 915 |  |  | 7,205 |  |  | 12,614 |
Segment operating income (loss) |  | $ | (7,613) |  |  | $ | 74 |  |  | $ | 2,093 |  |  | $ | (626) |  |  | (6,072) |
Parent general and administrative expenses |  |  |  |  |  |  |  |  |  | $ | 6,313 |
Operating income (loss) |  |  |  |  |  |  |  |  |  | $ | (12,385) |
Total other income (expense) |  |  |  |  |  |  |  |  |  | $ | 11,495 |
Income (loss) before income taxes |  |  |  |  |  |  |  |  |  | $ | (890) |
|  | Three Months Ended June 30, 2024
|  | Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufacturing Operations |  | Total
|  | (In thousands)
Revenues: |  |  |  |  |  |  |  |  |  |
License fees |  | $ | 5,333 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5,333 |
Revenues - industrial operations |  | — |  |  | 6,335 |  |  | — |  |  | — |  |  | 6,335 |
Oil sales |  | — |  |  | — |  |  | 8,082 |  |  | — |  |  | 8,082 |
Natural gas sales |  | — |  |  | — |  |  | 1,991 |  |  | — |  |  | 1,991 |
Natural gas liquids sales |  | — |  |  | — |  |  | 4,097 |  |  | — |  |  | 4,097 |
Total revenues |  | 5,333 |  |  | 6,335 |  |  | 14,170 |  |  | — |  |  | 25,838 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |
Cost of sales - intellectual property operations |  | 5,765 |  |  | — |  |  | — |  |  | — |  |  | 5,765 |
Cost of sales - industrial operations |  | — |  |  | 3,277 |  |  | — |  |  | — |  |  | 3,277 |
Cost of production |  | — |  |  | — |  |  | 10,038 |  |  | — |  |  | 10,038 |
Total cost of revenues |  | 5,765 |  |  | 3,277 |  |  | 10,038 |  |  | — |  |  | 19,080 |
Segment gross (loss) profit |  | (432) |  |  | 3,058 |  |  | 4,132 |  |  | — |  |  | 6,758 |
Other operating expenses: |  |  |  |  |  |  |  |  |  |
General and administrative expenses and sales and engineering expenses |  | 1,821 |  |  | 3,292 |  |  | 883 |  |  | — |  |  | 5,996 |
Total other operating expenses |  | 1,821 |  |  | 3,292 |  |  | 883 |  |  | — |  |  | 5,996 |
Segment operating income (loss) |  | $ | (2,253) |  |  | $ | (234) |  |  | $ | 3,249 |  |  | $ | — |  |  | 762 |
Parent general and administrative expenses |  |  |  |  |  |  |  |  |  | $ | 5,520 |
Operating income (loss) |  |  |  |  |  |  |  |  |  | $ | (4,758) |
Total other income (expense) |  |  |  |  |  |  |  |  |  | $ | (11,132) |
Income (loss) before income taxes |  |  |  |  |  |  |  |  |  | $ | (15,890) |
|  | Six Months Ended June 30, 2025
|  | Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufacturing Operations |  | Total
|  | (In thousands)
Revenues: |  |  |  |  |  |  |  |  |  |
License fees |  | $ | 70,234 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 70,234 |
Revenues - industrial operations |  | — |  |  | 14,266 |  |  | — |  |  | — |  |  | 14,266 |
Oil sales |  | — |  |  | — |  |  | 14,866 |  |  | — |  |  | 14,866 |
Natural gas sales |  | — |  |  | — |  |  | 9,374 |  |  | — |  |  | 9,374 |
Natural gas liquids sales |  | — |  |  | — |  |  | 8,572 |  |  | — |  |  | 8,572 |
Other service sales |  | — |  |  | — |  |  | 811 |  |  | — |  |  | 811 |
Air distribution |  | — |  |  | — |  |  | — |  |  | 19,458 |  |  | 19,458 |
Safety products |  | — |  |  | — |  |  | — |  |  | 21,133 |  |  | 21,133 |
Office products |  | — |  |  | — |  |  | — |  |  | 16,945 |  |  | 16,945 |
Total revenues |  | 70,234 |  |  | 14,266 |  |  | 33,623 |  |  | 57,536 |  |  | 175,659 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |
Cost of sales - intellectual property operations |  | 34,470 |  |  | — |  |  | — |  |  | — |  |  | 34,470 |
Cost of sales - industrial operations |  | — |  |  | 7,470 |  |  | — |  |  | — |  |  | 7,470 |
Cost of sales - manufacturing operations |  | — |  |  | — |  |  | — |  |  | 43,233 |  |  | 43,233 |
Cost of production |  | — |  |  | — |  |  | 25,007 |  |  | — |  |  | 25,007 |
Total cost of revenues |  | 34,470 |  |  | 7,470 |  |  | 25,007 |  |  | 43,233 |  |  | 110,180 |
Segment gross profit |  | 35,764 |  |  | 6,796 |  |  | 8,616 |  |  | 14,303 |  |  | 65,479 |
Other operating expenses: |  |  |  |  |  |  |  |  |  |
General and administrative expenses and sales and engineering expenses |  | 4,869 |  |  | 6,420 |  |  | 2,522 |  |  | 14,658 |  |  | 28,469 |
Total other operating expenses |  | 4,869 |  |  | 6,420 |  |  | 2,522 |  |  | 14,658 |  |  | 28,469 |
Segment operating income (loss) |  | $ | 30,895 |  |  | $ | 376 |  |  | $ | 6,094 |  |  | $ | (355) |  |  | 37,010 |
Parent general and administrative expenses |  |  |  |  |  |  |  |  |  | 11,090 |
Operating income (loss) |  |  |  |  |  |  |  |  |  | 25,920 |
Total other income (expense) |  |  |  |  |  |  |  |  |  | 2,799 |
Income (loss) before income taxes |  |  |  |  |  |  |  |  |  | $ | 28,719 |
Schedule of Segment Reporting Information, by Segment |
| June 30, 2025 |  | December 31, 2024
| (In thousands)
Total parent assets | $ | 137,240 |  |  | $ | 150,033 |
Segment total assets: |  |  |
Intellectual property operations | 249,188 |  |  | 213,854 |
Industrial operations | 49,293 |  |  | 48,438 |
Energy operations | 204,647 |  |  | 209,355 |
Manufacturing operations | 135,178 |  |  | 134,714 |
Total assets | $ | 775,546 |  |  | $ | 756,394 |
Revenue from External Customers by Geographic Areas |
| Three Months Ended June 30, 2025
| Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufacturing Operations |  | Total
| (In thousands)
Revenues by geographic area: |  |  |  |  |  |  |  |  |
United States | $ | 329 |  |  | $ | 2,827 |  |  | $ | 15,317 |  |  | $ | 16,590 |  |  | $ | 35,063 |
Canada and Latin America | — |  |  | 384 |  |  | — |  |  | 5,699 |  |  | 6,083 |
Total Americas | 329 |  |  | 3,211 |  |  | 15,317 |  |  | 22,289 |  |  | 41,146 |
Europe, Middle East and Africa | — |  |  | 1,753 |  |  | — |  |  | 1,251 |  |  | 3,004 |
China | — |  |  | 343 |  |  | — |  |  | 5,461 |  |  | 5,804 |
India | — |  |  | 459 |  |  | — |  |  | — |  |  | 459 |
Asia-Pacific, excluding China and India | — |  |  | 824 |  |  | — |  |  | — |  |  | 824 |
Total Asia-Pacific | — |  |  | 1,626 |  |  | — |  |  | 5,461 |  |  | 7,087 |
Total revenues | $ | 329 |  |  | $ | 6,590 |  |  | $ | 15,317 |  |  | $ | 29,001 |  |  | $ | 51,237 |
| Three Months Ended June 30, 2024
| Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufacturing Operations |  | Total
| (In thousands)
Revenues by geographic area: |  |  |  |  |  |  |  |  |
United States | $ | 5,331 |  |  | $ | 2,873 |  |  | $ | 14,170 |  |  | $ | — |  |  | $ | 22,374 |
Canada and Latin America | — |  |  | 220 |  |  | — |  |  | — |  |  | 220 |
Total Americas | 5,331 |  |  | 3,093 |  |  | 14,170 |  |  | — |  |  | 22,594 |
Europe, Middle East and Africa | — |  |  | 1,705 |  |  | — |  |  | — |  |  | 1,705 |
China | — |  |  | 232 |  |  | — |  |  | — |  |  | 232 |
India | — |  |  | 517 |  |  | — |  |  | — |  |  | 517 |
Asia-Pacific, excluding China and India | 2 |  |  | 788 |  |  | — |  |  | — |  |  | 790 |
Total Asia-Pacific | 2 |  |  | 1,537 |  |  | — |  |  | — |  |  | 1,539 |
Total revenues | $ | 5,333 |  |  | $ | 6,335 |  |  | $ | 14,170 |  |  | $ | — |  |  | $ | 25,838 |
| Six Months Ended June 30, 2025
| Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufacturing Operations |  | Total
| (In thousands)
Revenues by geographic area: |  |  |  |  |  |  |  |  |
United States | $ | 70,232 |  |  | $ | 5,765 |  |  | $ | 33,623 |  |  | $ | 34,389 |  |  | $ | 144,009 |
Canada and Latin America | — |  |  | 674 |  |  | — |  |  | 11,768 |  |  | 12,442 |
Total Americas | 70,232 |  |  | 6,439 |  |  | 33,623 |  |  | 46,157 |  |  | 156,451 |
Europe, Middle East and Africa | — |  |  | 4,083 |  |  | — |  |  | 2,375 |  |  | 6,458 |
China | — |  |  | 715 |  |  | — |  |  | 9,004 |  |  | 9,719 |
India | — |  |  | 1,083 |  |  | — |  |  | — |  |  | 1,083 |
Asia-Pacific, excluding China and India | 2 |  |  | 1,946 |  |  | — |  |  | — |  |  | 1,948 |
Total Asia-Pacific | 2 |  |  | 3,744 |  |  | — |  |  | 9,004 |  |  | 12,750 |
Total revenues | $ | 70,234 |  |  | $ | 14,266 |  |  | $ | 33,623 |  |  | $ | 57,536 |  |  | $ | 175,659 |
| Six Months Ended June 30, 2024
| Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufacturing Operations |  | Total
| (In thousands)
Revenues by geographic area: |  |  |  |  |  |  |  |  |
United States | $ | 7,395 |  |  | $ | 6,032 |  |  | $ | 16,026 |  |  | $ | — |  |  | $ | 29,453 |
Canada and Latin America | 1 |  |  | 486 |  |  | — |  |  | — |  |  | 487 |
Total Americas | 7,396 |  |  | 6,518 |  |  | 16,026 |  |  | — |  |  | 29,940 |
Europe, Middle East and Africa | — |  |  | 4,183 |  |  | — |  |  | — |  |  | 4,183 |
China | 4,650 |  |  | 750 |  |  | — |  |  | — |  |  | 5,400 |
India | — |  |  | 1,435 |  |  | — |  |  | — |  |  | 1,435 |
Asia-Pacific, excluding China and India | 6,910 |  |  | 2,290 |  |  | — |  |  | — |  |  | 9,200 |
Total Asia-Pacific | 11,560 |  |  | 4,475 |  |  | — |  |  | — |  |  | 16,035 |
Total revenues | $ | 18,956 |  |  | $ | 15,176 |  |  | $ | 16,026 |  |  | $ | — |  |  | $ | 50,158 |
Long-lived Assets by Geographic Areas |
| June 30, 2025
| Intellectual Property Operations |  | Industrial Operations |  | Energy Operations |  | Manufacturing Operations |  | Total
| (In thousands)
Long-lived tangible assets by geographic area: |  |  |  |  |  |  |  |  |
United States | $ | 105 |  |  | $ | 197 |  |  | $ | 188,237 |  |  | $ | 7,056 |  |  | $ | 195,595 |
Canada | — |  |  | 615 |  |  | — |  |  | 6,744 |  |  | 7,359 |
Europe | — |  |  | 230 |  |  | — |  |  | 4,267 |  |  | 4,497 |
Asia-Pacific | — |  |  | — |  |  | — |  |  | 2,395 |  |  | 2,395 |
Total | $ | 105 |  |  | $ | 1,042 |  |  | $ | 188,237 |  |  | $ | 20,462 |  |  | $ | 209,846 |
| 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 |

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- Definition Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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