Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information [Text Block]

27. Quarterly Financial Data (Unaudited)


	Two Months Ended		Three Months Ended
(in thousands, except per share amounts)	August 31, 2020		June 30, 2020		March 31, 2020
	(Under Going Concern Basis of Accounting)
Total revenues	$	4,115	$	5,211	$	5,995
Net loss from continuing operations	$	(10,852)	$	(12,929)	$	(19,259)
Net income (loss) from discontinued operations	$	15,236	$	(37,399)	$	(12,752)
Net income (loss) attributable to PDL’s stockholders	$	4,398	$	(49,971)	$	(31,723)
Net loss from continuing operations per basic share	$	(0.10)	$	(0.11)	$	(0.15)
Net income (loss) from discontinued operations per basic share	$	0.14	$	(0.32)	$	(0.11)
Net loss from continuing operations per diluted share	$	(0.10)	$	(0.11)	$	(0.15)
Net income (loss) from discontinued operations per diluted share	$	0.14	$	(0.32)	$	(0.11)
Net income (loss) per basic share	$	0.04	$	(0.43)	$	(0.26)
Net income (loss) per diluted share	$	0.04	$	(0.43)	$	(0.26)


	Three Months Ended
(in thousands, except per share amounts)	December 31, 2019		September 30, 2019		June 30, 2019		March 31, 2019
	(Under Going Concern Basis of Accounting)
Total revenues	$	8,521	$	8,031	$	7,458	$	6,696
Net loss from continuing operations	$	(28,817)	$	(11,811)	$	(8,016)	$	(8,450)
Net (loss) income from discontinued operations	$	(26,011)	$	(6,155)	$	3,502	$	15,067
Net (loss) income attributable to PDL’s stockholders	$	(54,888)	$	(17,784)	$	(4,419)	$	6,680
Net loss from continuing operations per basic share	$	(0.25)	$	(0.10)	$	(0.07)	$	(0.07)
Net (loss) income from discontinued operations per basic share	$	(0.23)	$	(0.06)	$	0.03	$	0.12
Net loss from continuing operations per diluted share	$	(0.25)	$	(0.10)	$	(0.07)	$	(0.07)
Net (loss) income from discontinued operations per diluted share	$	(0.23)	$	(0.06)	$	0.03	$	0.12
Net (loss) income per basic share	$	(0.48)	$	(0.16)	$	(0.04)	$	0.05
Net (loss) income per diluted share	$	(0.48)	$	(0.16)	$	(0.04)	$	0.05

In the fourth quarter of 2020, the Company determined that a $3.0 million tax benefit from discontinued operations was omitted from the consolidated statement of operations for the two-month period ending August 31, 2020. This error resulted from an incorrect tax calculation related to the sale of the Noden business. To correct for this error, the Company recorded an out-of-period adjustment to increase Income tax receivable and record a tax benefit of $3.0 million as of and for the three months ended December 31, 2020. The Company determined that the error and out-of-period correction were not material to any of the Company’s interim period financial statements.