Pendrell Corp

[1]	Stock options, restricted stock awards and units totaling 12,500, 13,053 and 27,847 for the years ended December 31, 2017, 2016 and 2015, respectively, were excluded from the calculation of diluted income (loss) per share as their inclusion was anti-dilutive.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating activities:
Net income (loss) including noncontrolling interest	$ 19,856	$ 17,949	$ (117,582)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Stock-based compensation	3,422	3,424	4,507
Amortization of intangible assets	2,345	9,498	13,939
Impairment of intangible assets and goodwill			103,499
Depreciation	37	51	351
Non-cash cost of patents monetized			138
Loss associated with the abandonment and/or disposition of patents	41	163	958
Loss on the disposition of property			1,015
Other		4	3
Other changes in certain assets and liabilities:
Accounts receivable, current and non-current	13,342	(30,423)	44
Income tax receivable, net	(2,161)
Prepaid expenses and other current/non-current assets	(138)	91	(1,108)
Accounts payable	11	(15)	(141)
Accrued expenses and other current liabilities	(4,880)	2,388	(5,670)
Other non-current liabilities		7,796
Net cash provided by (used in) operating activities	31,875	10,926	(47)
Investing activities:
Payment received on note receivable	600	1,300
Sale of noncontrolling interest in subsidiary	50
Purchases of property in service and intangible assets	(8)	(12)	(2,077)
Proceeds associated with disposition of property			109
Net cash provided by (used in) investing activities	642	1,288	(1,968)
Financing activities:
Cash dividend paid	(2,983)
Payment of statutory taxes for stock awards	(17)	(40)	(140)
Proceeds from exercise of stock options			219
Payment of accrued obligations for purchased intangible assets			(4,000)
Purchase of noncontrolling interest in Provitro Bioscience LLC			(400)
Net cash used in financing activities	(22,666)	(40)	(4,321)
Net increase (decrease) in cash and cash equivalents	9,851	12,174	(6,336)
Cash and cash equivalents—beginning of period	174,631	162,457	168,793
Cash and cash equivalents—end of period	184,482	$ 174,631	162,457
Supplemental disclosures:
Income taxes paid	48		4,125
Supplemental disclosure of non-cash investing and financing activities:
Note receivable for disposition of property			$ 1,900
Class A common stock
Financing activities:
Repurchase of Class A common stock	$ (19,666)

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 184,482	$ 174,631
Accounts receivable	17,361	15,457
Income tax receivable, net	2,161
Other receivables	118	669
Prepaid expenses and other current assets	351	262
Total current assets	204,473	191,019
Property in service – net of accumulated depreciation of $548 and $531, respectively	44	74
Non-current accounts receivable	1,309	16,555
Other assets	29	29
Intangible assets – net of accumulated amortization of $56,224 and $61,080, respectively	2,329	4,716
Total	208,184	212,393
Current liabilities:
Accounts payable	136	125
Accrued expenses	8,797	6,278
Other liabilities	64	95
Total current liabilities	8,997	6,498
Other non-current liabilities		7,796
Total liabilities	8,997	14,294
Commitments and contingencies (Note 7)
Shareholders’ equity and noncontrolling interest:
Preferred stock, $0.01 par value, 75,000,000 shares authorized, no shares issued or outstanding		0
Additional paid-in capital	1,948,472	1,962,178
Accumulated deficit	(1,747,160)	(1,763,060)
Total Pendrell shareholders’ equity	203,973	201,806
Noncontrolling interest	(4,786)	(3,707)
Total shareholders’ equity and noncontrolling interest	199,187	198,099
Total	208,184	212,393
Class A common stock
Shareholders’ equity and noncontrolling interest:
Common stock, value	2,124	2,151
Class B common stock
Shareholders’ equity and noncontrolling interest:
Common stock, value	$ 537	$ 537