XML 43 R15.htm IDEA: XBRL DOCUMENT v3.2.0.727
Operating Segments
6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Operating Segments
Operating Segments
As of June 30, 2015, the Company held interests in 28 non-consolidated partner companies which are included in the Healthcare and Technology segments. The Company’s active partner companies by segment were as follows as of June 30, 2015:
Healthcare
   
 
   
Partner Company
Safeguard Primary Ownership as of June 30, 2015
 
Accounting Method
AdvantEdge Healthcare Solutions, Inc.
40.1%
 
Equity
Aventura, Inc.
19.9%
 
Equity
Good Start Genetics, Inc.
29.8%
 
Equity
InfoBionic, Inc.
27.8%
 
Equity
Medivo, Inc.
34.5%
 
Equity
meQuilibrium, Inc.
31.5%
 
Equity
NovaSom, Inc.
31.7%
 
Equity
Propeller Health, Inc.
24.6%
 
Equity
Putney, Inc.
28.3%
 
Equity
Quantia, Inc.
42.3%
 
Equity
Syapse, Inc.
27.0%
 
Equity
Trice Medical, Inc.
27.7%
 
Equity
   
Technology
   
 
   
Partner Company
Safeguard Primary Ownership as of June 30, 2015
 
Accounting Method
AppFirst, Inc.
34.2%
 
Equity
Apprenda, Inc.
21.4%
 
Equity
Beyond.com, Inc.
38.2%
 
Equity
Bridgevine, Inc.
17.2%
 
Cost
CloudMine, Inc.
30.1%
 
Equity
Clutch Holdings, Inc.
39.3%
 
Equity
Full Measure Education, Inc.
25.4%
 
Equity
Hoopla Software, Inc.
25.6%
 
Equity
InsideVault, Inc.
24.5%
 
Equity
Lumesis, Inc.
45.3%
 
Equity
MediaMath, Inc.
20.7%
 
Equity
Pneuron Corporation
35.4%
 
Equity
Sonobi, Inc.
22.6%
 
Equity
Spongecell, Inc.
23.0%
 
Equity
Transactis, Inc.
24.6%
 
Equity
WebLinc, Inc.
29.2%
 
Equity


Results of the Healthcare and Technology segments reflect the equity income (loss) of their respective equity method partner companies, other income (loss) associated with fair value method and cost method partner companies and the gains or losses on the sale of the interests in their respective partner companies.
Management evaluates the Healthcare and Technology segments’ performance based on net income (loss) which is impacted by the number of partner companies accounted for under the equity method, the Company’s voting ownership percentage in these partner companies and the net results of operations of these partner companies, any impairment charges and gain (loss) on the sale of the interests in equity and cost method partner companies.
Other Items include certain expenses which are not identifiable to the operations of the Company’s operating segments. Other Items primarily consist of general and administrative expenses related to corporate operations, including employee compensation, insurance and professional fees, including legal and finance, interest income, interest expense and other income (loss), equity income (loss) related to certain private equity fund ownership interests and income taxes. Other Items also include interest earned on mezzanine loans, gain (loss) on the mark-to-market of our warrant participations, and impairment on debt and equity participation interests in which the Company participates with Penn Mezzanine as well as equity income (loss) associated with the Company's interest in the management company and general partner of Penn Mezzanine.
As of June 30, 2015 and December 31, 2014, all of the Company’s assets were located in the United States.
Segment assets in Other Items included primarily cash, cash equivalents, and marketable securities of $105.5 million and $156.5 million, at June 30, 2015 and December 31, 2014, respectively.
   
Three months ended June 30, 2015
   
Healthcare
 
Technology
 
Total
Segments
 
Other
Items
 
Total
 
(Unaudited - In thousands)
Operating loss
$

 
$

 
$

 
$
(4,754
)
 
$
(4,754
)
Other income (loss), net
(72
)
 

 
(72
)
 
57

 
(15
)
Interest income

 

 

 
640

 
640

Equity loss
(13,063
)
 
(606
)
 
(13,669
)
 
(96
)
 
(13,765
)
Net loss
(13,135
)
 
(606
)
 
(13,741
)
 
(5,281
)
 
(19,022
)
Segment Assets:
   

 
   

 
   

 
   

 
   

June 30, 2015
60,571

 
107,675

 
168,246

 
117,372

 
285,618

December 31, 2014
62,292

 
88,408

 
150,700

 
167,754

 
318,454

   
Three months ended June 30, 2014
   
Healthcare
 
Technology
 
Total
Segments
 
Other
Items
 
Total
 
(Unaudited - In thousands)
Operating loss
$

 
$

 
$

 
$
(5,069
)
 
$
(5,069
)
Other income, net
1,452

 

 
1,452

 

 
1,452

Interest income

 

 

 
542

 
542

Equity income (loss)
(4,547
)
 
1,586

 
(2,961
)
 
(214
)
 
(3,175
)
Net income (loss)
(3,095
)
 
1,586

 
(1,509
)
 
(5,839
)
 
(7,348
)
   
   
Six months ended June 30, 2015
   
Healthcare
 
Technology
 
Total
Segments
 
Other
Items
 
Total
 
(Unaudited - In thousands)
Operating loss
$

 
$

 
$

 
$
(9,634
)
 
$
(9,634
)
Other loss, net
(311
)
 

 
(311
)
 
(92
)
 
(403
)
Interest income

 

 

 
1,089

 
1,089

Equity income (loss)
(17,105
)
 
(5,378
)
 
(22,483
)
 
56

 
(22,427
)
Net loss
(17,416
)
 
(5,378
)
 
(22,794
)
 
(10,831
)
 
(33,625
)
   
Six months ended June 30, 2014
   
Healthcare
 
Technology
 
Total
Segments
 
Other
Items
 
Total
 
(Unaudited - In thousands)
Operating loss
$

 
$

 
$

 
$
(10,308
)
 
$
(10,308
)
Other income (loss), net
31,831

 

 
31,831

 
(5
)
 
31,826

Interest income

 

 

 
1,012

 
1,012

Equity income (loss)
6,075

 
(1,999
)
 
4,076

 
(443
)
 
3,633

Net income (loss)
37,906

 
(1,999
)
 
35,907

 
(11,936
)
 
23,971