Safeguard Scientifics (SFES) 10-Q 27 Jul 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 25, 2017
Document Documentand Entity Information [Abstract]
Entity Registrant Name	SAFEGUARD SCIENTIFICS INC
Entity Central Index Key	86,115
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		20,413,316
Trading Symbol	SFE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 48,181	$ 22,058
Marketable securities	4,733	8,384
Prepaid expenses and other current assets	3,319	2,109
Total current assets	56,233	32,551
Property and equipment, net	1,705	1,873
Ownership interests in and advances to partner companies	148,029	183,470
Long-term marketable securities	689	7,302
Long-term restricted cash equivalents	6,336	6,336
Other assets	316	296
Total Assets	213,308	231,828
Current Liabilities:
Accounts payable	151	140
Accrued compensation and benefits	2,629	3,498
Accrued expenses and other current liabilities	1,942	2,223
Convertible senior debentures - current	42,320	0
Total current liabilities	47,042	5,861
Other long-term liabilities	3,580	3,630
Credit facility	44,514	0
Convertible senior debentures	0	52,560
Total Liabilities	95,136	62,051
Commitments and contingencies
Equity:
Preferred stock, $0.10 par value; 1,000 shares authorized	0	0
Common stock, $0.10 par value; 83,333 shares authorized; 21,573 shares issued at June 30, 2017 and December 31, 2016	2,157	2,157
Additional paid-in capital	814,767	816,016
Treasury stock, at cost; 1,169 and 1,209 shares at June 30, 2017 and December 31, 2016, respectively	(20,276)	(21,061)
Accumulated deficit	(678,098)	(626,904)
Accumulated other comprehensive loss	(378)	(431)
Total Equity	118,172	169,777
Total Liabilities and Equity	$ 213,308	$ 231,828

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.10	$ 0.10
Preferred stock, shares authorized	1,000	1,000
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares authorized	83,333	83,333
Common stock, shares issued	21,573	21,573
Treasury stock	1,169	1,209

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
General and administrative expense	$ 4,486	$ 4,849	$ 9,433	$ 10,077
Operating loss	(4,486)	(4,849)	(9,433)	(10,077)
Other income (loss), net	(89)	659	160	659
Interest income	1,087	527	1,888	947
Interest expense	(2,112)	(1,155)	(3,310)	(2,304)
Equity income (loss)	(23,497)	43,794	(40,499)	34,299
Net income (loss) before income taxes	(29,097)	38,976	(51,194)	23,524
Income tax benefit (expense)	0	0	0	0
Net income (loss)	$ (29,097)	$ 38,976	$ (51,194)	$ 23,524
Net income (loss) per share:
Basic (in dollars per share)	$ (1.43)	$ 1.92	$ (2.51)	$ 1.15
Diluted (in dollars per share)	$ (1.43)	$ 1.70	$ (2.51)	$ 1.09
Weighted average shares used in computing income (loss) per share:
Basic (in shares)	20,411	20,333	20,395	20,391
Diluted (in shares)	20,411	23,539	20,395	23,602

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities:
Net cash used in operating activities	$ (11,407)	$ (10,843)
Cash Flows from Investing Activities:
Proceeds from sales of and distributions from companies	16,462	72,824
Acquisitions of ownership interests in companies	(8,026)	(28,329)
Advances and loans to companies	(13,564)	(10,151)
Repayment of advances and loans to companies	0	56
Increase in marketable securities	0	(14,604)
Decrease in marketable securities	10,268	30,257
Capital expenditures	0	(73)
Net cash provided by investing activities	5,140	49,980
Cash Flows from Financing Activities:
Proceeds from credit facility	50,000	0
Issuance costs of credit facility	(5,696)	0
Repurchase of convertible senior debentures	(11,796)	0
Issuance of Company common stock, net	12	0
Tax withholdings related to equity-based awards	(130)	(355)
Repurchase of Company common stock	0	(5,389)
Net cash provided by (used in) financing activities	32,390	(5,744)
Net change in cash, cash equivalents and restricted cash equivalents	26,123	33,393
Cash, cash equivalents and restricted cash equivalents at beginning of period	28,394	32,838
Cash, cash equivalents and restricted cash equivalents at end of period	$ 54,517	$ 66,231

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - 6 months ended Jun. 30, 2017 - USD ($) shares in Thousands, $ in Thousands	Total	Accumulated Deficit	AOCI Attributable to Parent	Common Stock	Additional Paid-in Capital	Treasury Stock
Balance at Dec. 31, 2016	$ 169,777	$ (626,904)	$ (431)	$ 2,157	$ 816,016	$ (21,061)
Balance (in shares) at Dec. 31, 2016				21,573
Balance (in shares) at Dec. 31, 2016						1,209
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(51,194)	(51,194)
Stock options exercised, net of tax withholdings	12				(24)	$ 36
Stock options exercised, net of tax withholdings (in shares)						(2)
Issuance of restricted stock, net of tax withholdings	(45)				(794)	$ 749
Issuance of restricted stock, net of tax withholdings (in shares)						(38)
Stock-based compensation expense	246				246
Repurchase of convertible senior debentures	(677)				(677)
Other comprehensive income	53		53
Balance at Jun. 30, 2017	$ 118,172	$ (678,098)	$ (378)	$ 2,157	$ 814,767	$ (20,276)
Balance (in shares) at Jun. 30, 2017				21,573
Balance (in shares) at Jun. 30, 2017						1,169

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Statement - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net loss	$ (29,097)	$ 38,976	$ (51,194)	$ 23,524
Share of other comprehensive income (loss) of equity method investments	5	20	3	10
Reclassification adjustment for sale of equity method investments	0	0	50	0
Total comprehensive income (loss)	$ (29,092)	$ 38,996	$ (51,141)	$ 23,534

General

General	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General The accompanying unaudited interim Consolidated Financial Statements of Safeguard Scientifics, Inc. (“Safeguard” or the “Company”) were prepared in accordance with accounting principles generally accepted in the United States of America and the interim financial statement rules and regulations of the SEC. In the opinion of management, these statements include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the Consolidated Financial Statements. The interim operating results are not necessarily indicative of the results for a full year or for any interim period. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations relating to interim financial statements. The Consolidated Financial Statements included in this Form 10-Q should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations included elsewhere in this Form 10-Q and with the Company’s Consolidated Financial Statements and Notes thereto included in the Company’s 2016 Annual Report on Form 10-K. Liquidity As of June 30, 2017 , the Company had $48.2 million of cash and cash equivalents and $5.4 million of marketable securities for a total of $53.6 million . Additionally, as of June 30, 2017, the Company had $43.6 million of principal outstanding on its convertible senior notes, which the Company anticipates repaying or refinancing by the maturity date of May 15, 2018. In May 2017, the Company entered into a $75.0 million secured, revolving credit facility (“Credit Facility”) with HPS Investment Partners, LLC (“Lender”). As of June 30, 2017, the Company had $50.0 million of principal outstanding on the Credit Facility due in May 2020. The Credit Facility requires the Company to maintain (i) a liquidity threshold of at least $20 million of unrestricted cash; (ii) a tangible net worth, plus unrestricted cash of at least 1.75 x the amount then outstanding under the Credit Facility; (iii) a minimum aggregate appraised value of the Company’s ownership interests in its partner companies, plus unrestricted cash in excess of the liquidity threshold of at least $350 million ; and (iv) certain diversification requirements and concentration limits with respect to the Company’s capital deployments to its partner companies. As of the date these consolidated financial statements were issued, the Company was in compliance with all of these covenants. The Company funds its operations with cash and marketable securities on hand as well as proceeds from the sales of its interest in its partner companies. Due to the nature of the mergers and acquisitions market, and the developmental cycle of companies like the Company’s partner companies, the Company’s ability to generate specific amounts of liquidity from sales of its partner company interests in any given period of time cannot be assured. Accordingly, the forecasts which the Company utilizes for projecting future compliance with covenants related to its Credit Facility include significantly discounted probability-weighted proceeds from the sales of its interests in its partner companies. Based on these forecasts, management believes the Company will continue to remain in compliance with all of its debt covenants. Management's plans to remain in compliance with these covenants include selling certain of its partner company interests in the ordinary course of its business and limiting capital deployments to new and existing partner companies. Non-compliance with any of the covenants would constitute an event of default under the Credit Facility, and the Lender could choose to accelerate the maturity of the indebtedness. If the Lender were to accelerate the maturity of the indebtedness, the Company may not have sufficient immediate liquidity to repay the entire balance of its outstanding borrowings and other obligations under the Credit Facility. Should the Company not be in compliance with all its debt covenants and be unable to obtain waivers for such events of default, management would pursue one of a number of potential alternatives to satisfy the obligations, including completing an equity offering or obtaining a new debt facility to refinance its existing debt. Significant Accounting Policies Restricted Cash Equivalents Restricted cash equivalents consist of certificates of deposit with various maturity dates. Amounts included in restricted cash equivalents represent those required to be set aside by a contractual agreement with a bank as collateral for a letter of credit. The restriction on the cash will lapse when the related letter of credit expires on March 19, 2019. The following table provides a reconciliation of cash, cash equivalents and restricted cash equivalents reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows: June 30, 2017 December 31, 2016 (In thousands) Cash and cash equivalents $ 48,181 $ 22,058 Long-term restricted cash equivalents 6,336 6,336 Total cash, cash equivalents and restricted cash equivalents $ 54,517 $ 28,394 Recent Accounting Pronouncements Evaluation of Accounting Standards Update No. 2014-09 In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"). ASU 2014-09 and related subsequent amendments outline a single comprehensive model to use to account for revenue arising from contracts with customers and supersede most current revenue recognition guidance. For public companies, the guidance is effective for annual periods beginning after December 15, 2017 and any interim periods that fall within that reporting period. For nonpublic companies, the guidance is effective for annual periods beginning after December 15, 2018 and interim periods within annual periods beginning after December 15, 2019 with early adoption permitted. As the new standard will supersede most existing revenue guidance, it could impact revenue and cost recognition for partner companies. Any change in revenue or cost recognition for partner companies could affect the Company's recognition of its share of the results of its equity method partner companies. The Company has been closely monitoring the FASB and SEC activity related to the new standard. On July 20, 2017, the SEC staff observer at the FASB’s Emerging Issues Task Force ("EITF") meeting announced that the SEC staff will not object if a private company equity method investee meeting the definition of a public business entity that otherwise would not meet the definition of a public business entity except for the inclusion of its financial statements or financial information in another entity’s filings with the SEC, uses private company adoption dates for the new revenue standard. As a result, the Company anticipates that its private, calendar year partner companies will adopt the new revenue standard for the year ending December 31, 2019. The impact of adoption of the new revenue standard will be reflected in the Company’s financial results for the interim and annual reporting periods beginning in 2020 on a one quarter-lag basis.

Ownership Interests in and Adva

Ownership Interests in and Advances to Partner Companies and Funds	6 Months Ended
	Jun. 30, 2017
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Ownership Interests in and Advances to Partner Companies	Ownership Interests in and Advances to Partner Companies The following summarizes the carrying value of the Company’s ownership interests in and advances to partner companies. June 30, 2017 December 31, 2016 (Unaudited - In thousands) Equity Method: Partner companies $ 118,513 $ 154,219 Private equity funds 445 447 118,958 154,666 Cost Method: Other holdings 2,687 2,112 Private equity funds 1,334 1,550 4,021 3,662 Advances to partner companies 25,050 25,142 $ 148,029 $ 183,470 In March 2017, the Company sold its interest in partner company Nexxt, Inc., formerly Beyond.com, back to Nexxt, Inc. for $26.0 million . The Company received $15.5 million in cash and a three -year, $10.5 million note for the balance due, which accrues interest at a rate of 9.5% per annum. The receipt of the $15.5 million in cash resulted in a gain of $0.1 million which is included in Equity income (loss) in the Consolidated Statements of Operations for the six months ended June 30, 2017. The $10.5 million note is fully reserved and has a carrying value of zero as of June 30, 2017. A gain will be recorded when the note is repaid. Interest is payable annually and interest income is recorded as earned throughout the year. In the second quarter of 2017, the Company recognized an impairment charge of $3.6 million related to Spongecell, Inc. which is reflected in Equity income (loss) in the Consolidated Statements of Operations for the three and six months ended June 30, 2017. The impairment was based on the value at which the Company expects Spongecell to raise its next financing round. The adjusted carrying value of the Company's interest in Spongecell is $7.8 million at June 30, 2017. In the first and second quarters of 2017, the Company recognized impairment charges of $2.7 million and $2.2 million , respectively, related to Pneuron, Inc. which is reflected in Equity income (loss) in the Consolidated Statements of Operations for the three and six months ended June 30, 2017. The impairments were due to a decline in revenue and an inability to date to attract third party investors or acquirers. The adjusted carrying value of the Company's interest in Pneuron is $0.0 million at June 30, 2017. In April 2016, Putney, Inc. was acquired by Dechra Pharmaceuticals Plc. The Company received $58.6 million in cash proceeds in connection with the transaction. In April 2017, the Company received an additional $0.7 million in connection with the expiration of the final escrow period resulting in a gain of $0.7 million which is included in Equity income (loss) in the Consolidated Statements of Operations for the three and six months ended June 30, 2017. In July 2015, Quantia, Inc. was acquired by Physicians Interactive. The Company received $7.8 million in initial cash proceeds in connection with the transaction in July 2015 and $0.6 million in connection with the expiration of the initial escrow period in July 2016. In January 2017, the Company received an additional $0.6 million in connection with the expiration of the final escrow period resulting in a gain of $0.6 million which is included in Equity income (loss) in the Consolidated Statements of Operations for the six months ended June 30, 2017. In April 2016, the Company received $3.3 million associated with the achievement of the final performance milestone related to the December 2013 sale of ThingWorx, Inc. to PTC, Inc., resulting in a gain of $3.3 million which is included in Equity income (loss) in the Consolidated Statements of Operations for the six months ended June 30, 2016.

Acquisitions of Ownership Inter

Acquisitions of Ownership Interests in Partner Companies and Funds	6 Months Ended
	Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Acquisitions of Ownership Interests in Partner Companies	Acquisitions of Ownership Interests in Partner Companies In June 2017, the Company funded $1.8 million of a convertible bridge loan to Good Start Genetics, Inc. The Company had previously deployed an aggregate of $17.2 million in Good Start Genetics. Good Start Genetics is an information solutions company delivering genetics offerings to growing families, including advanced clinical sequencing and individualized actionable information to promote successful pregnancies. The Company accounts for its interest in Good Start Genetics under the equity method. In June 2017, the Company funded an aggregate of $0.6 million of convertible bridge loans to Cask Data, Inc. The Company had previously deployed an aggregate of $11.0 million in Cask Data. Cask Data accelerates development and deployment of production Hadoop applications. The Company accounts for its interest in Cask Data under the equity method. In June and April 2017, the Company funded an aggregate of $3.0 million of a convertible bridge loan to Sonobi, Inc. The Company had previously deployed $5.4 million in Sonobi. Sonobi is an advertising technology developer that creates data-driven tools and solutions to meet the evolving needs of demand- and sell-side organizations within the digital media marketplace. The Company accounts for its interest in Sonobi under the equity method. In June and February 2017, the Company funded an aggregate of $1.0 million of convertible loans to NovaSom, Inc. The Company had previously deployed an aggregate of $22.0 million in NovaSom. NovaSom is a medical device company focused on obstructive sleep apnea, specifically home testing with its FDA-cleared wireless device called AccuSom ® Home Sleep Test. The Company accounts for its interest in NovaSom under the equity method. In June and January 2017, the Company funded an aggregate of $2.0 million of convertible bridge loans to WebLinc, Inc. The Company had previously deployed an aggregate of $12.0 million in WebLinc. WebLinc is a commerce platform provider for fast growing online retailers. The Company accounts for its interest in WebLinc under the equity method. In May 2017, the Company deployed $2.1 million into Trice Medical, Inc. The Company had previously deployed an aggregate of $8.0 million in Trice Medical. Trice Medical is a diagnostics company focused on micro invasive technologies. The Company accounts for its interest in Trice Medical under the equity method. In April 2017, the Company deployed $1.5 million into Aktana, Inc. The Company had previously deployed an aggregate of $8.2 million in Aktana. Aktana leverages big data and machine learning to enable pharmaceutical brands to dynamically optimize their strategy and enhance sales execution. The Company accounts for its interest in Aktana under the equity method. In March and January 2017, the Company deployed an aggregate of $2.0 million into CloudMine, Inc. The Company had previously deployed an aggregate of $5.5 million in CloudMine. CloudMine empowers payers, providers, and pharmaceutical organizations to mobilize patient information by building robust applications and driving actionable insights. The Company accounts for its interest in CloudMine under the equity method. In March and February 2017, the Company funded an aggregate of $4.0 million of convertible bridge loans to InfoBionic, Inc. The Company had previously deployed an aggregate of $14.5 million in InfoBionic. InfoBionic is an emerging digital health company focused on creating patient monitoring solutions for chronic disease management with an initial market focus on cardiac arrhythmias. The Company accounts for its interest in InfoBionic under the equity method. In March 2017, the Company funded $0.2 million of a bridge loan to Lumesis, Inc. The Company had previously deployed an aggregate of $6.2 million in Lumesis. Lumesis is a financial technology company focused on providing business efficiency, regulatory and data solutions to the municipal bond marketplace. The Company accounts for its interest in Lumesis under the equity method. In January 2017, the Company deployed $2.4 million into Full Measure Education, Inc. The Company had previously deployed an aggregate of $8.6 million in Full Measure. Full Measure designs next-generation, mobile-first technologies for colleges throughout the United States. The Company accounts for its interest in Full Measure under the equity method. In January 2017, the Company funded $0.3 million of a convertible bridge loan to Aventura, Inc. to fund wind-down activities. The Company had previously deployed an aggregate of $6.2 million in Aventura. The adjusted carrying value of the Company's interest in Aventura was $0.0 million at June 30, 2017. The Company accounted for its interest in Aventura under the equity method.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company categorizes its financial instruments into a three-level fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. Financial instruments recorded at fair value on the Company’s Consolidated Balance Sheets are categorized as follows: Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2—Include other inputs that are directly or indirectly observable in the marketplace. Level 3—Unobservable inputs which are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following table provides the carrying value and fair value of certain financial assets and liabilities of the Company measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 : Carrying Value Fair Value Measurement at June 30, 2017 Level 1 Level 2 Level 3 (Unaudited - In thousands) Cash and cash equivalents $ 48,181 $ 48,181 $ — $ — Long-term restricted cash equivalents 6,336 6,336 — — — Marketable securities—held-to-maturity: Certificates of deposit $ 5,422 $ 5,422 $ — $ — Total marketable securities $ 5,422 $ 5,422 $ — $ — Carrying Value Fair Value Measurement at December 31, 2016 Level 1 Level 2 Level 3 (Unaudited - In thousands) Cash and cash equivalents $ 22,058 $ 22,058 $ — $ — Long-term restricted cash equivalents 6,336 6,336 — — Marketable securities—held-to-maturity: Certificates of deposit $ 15,686 $ 15,686 $ — $ — Total marketable securities $ 15,686 $ 15,686 $ — $ — As of June 30, 2017 , $4.7 million of marketable securities had contractual maturities which were less than one year and $0.7 million of marketable securities had contractual maturities greater than one year. Held-to-maturity securities are carried at amortized cost, which, due to the short-term maturity of these instruments, approximates fair value using quoted prices in active markets for identical assets or liabilities defined as Level 1 inputs under the fair value hierarchy.

Credit Facility and Convertible

Credit Facility and Convertible Debentures	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Credit Facility and Convertible Debentures	Convertible Debentures Credit Facility In May 2017, the Company entered into a $75.0 million secured, revolving credit facility (“Credit Facility”) with HPS Investment Partners, LLC (“Lender”). At closing, the Company borrowed $50.0 million , which resulted in net proceeds of $44.3 million after closing fees to the Lender and other third parties. The Credit Facility has a three -year term with a scheduled maturity of May 11, 2020 and bears interest at a rate of either: (A) LIBOR plus 8.5% (subject to a LIBOR floor of 1% ), payable on the last day of the one, two or three month interest period applicable to the LIBOR rate advance, or (B) 7.5% plus the greater of: 2% ; the Federal Funds Rate plus 0.5% ; LIBOR plus 1% ; or the U.S. Prime Rate, payable monthly in arrears. The Credit Facility is not amortized and interest payable under the Credit Facility will reflect at least $50 million as being drawn and outstanding at all times during the term. The Credit Facility also includes an unused line fee equal to 0.75% per annum of the average unused portion of the Credit Facility and a loan service fee, both paid quarterly. The Credit Facility is secured by all of the Company's assets in accordance with the terms of the Credit Facility. The Credit Facility requires the Company to maintain (i) a liquidity threshold of at least $20 million of unrestricted cash; (ii) a tangible net worth, plus unrestricted cash of at least 1.75 x the amount then outstanding under the Credit Facility; (iii) a minimum aggregate appraised value of the Company’s ownership interests in its partner companies, plus unrestricted cash in excess of the liquidity threshold of at least $350 million ; and (iv) certain diversification requirements and concentration limits with respect to the Company’s capital deployments to its partner companies. Subject to customary exclusions, the Lender has the right to have one observer representative attend meetings of the Company's Board of Directors. The Credit Facility provides for customary events of default which include (subject in certain cases to customary grace and cure periods), among others, nonpayment of principal or interest; non-compliance with debt covenants; defaults in, or failure to pay, certain other indebtedness; the rendering of judgments to pay certain amounts of money; and certain events of bankruptcy or insolvency. Generally, if an event of default occurs and is not cured within the time periods specified (if any), the Lender may declare the outstanding amount under the Credit Facility to be immediately due and payable. At June 30, 2017, the principal amount outstanding under the Credit Facility was $50.0 million , the unamortized discount was $2.5 million , unamortized debt issuance costs were $3.0 million and the net carrying value of the credit facility was $ 44.5 million . The Company is amortizing the excess of the principal amount of the Credit Facility over its carrying value over the three -year term as additional interest expense using the effective interest method and recorded $0.2 million of such expense for the three and six months ended June 30, 2017. The effective interest rate on the Credit Facility is 14.3% . Convertible Debentures In November 2012, the Company issued $55.0 million principal amount of its 5.25% convertible senior debentures due on May 15, 2018 (the “2018 Debentures”). The 2018 Debentures may be settled in cash or partially in cash upon conversion. Accordingly, the Company separately accounts for the liability and equity components of the 2018 Debentures. The carrying amount of the liability component was determined at the transaction date by measuring the fair value of a similar liability that does not have an associated equity component. The carrying amount of the equity component represented by the embedded conversion option was determined by deducting the fair value of the liability component from the initial proceeds of the 2018 Debentures as a whole. In June 2017, the Company repurchased on the open market, and retired, $11.4 million face value of the 2018 Debentures at a cost of $11.8 million , including transaction fees. In connection with the repurchase of these 2018 Debentures, the Company recognized a $0.7 million reduction in equity which is included in Accumulated Paid-In Capital in the Consolidated Balance Sheet as of June 30, 2017 and a $23 thousand loss on extinguishment of the liability which is included in Other income (loss), net in the Consolidated Statements of Operations for the three and six months ended June 30, 2017. At June 30, 2017 , the carrying amount of the equity component was $5.8 million , the principal amount of the liability component was $43.6 million , the unamortized discount was $1.0 million , unamortized debt issuance costs were $0.3 million and the net carrying value of the liability component was $42.3 million . The Company is amortizing the excess of the face value of the 2018 Debentures over their carrying value over their term as additional interest expense using the effective interest method and recorded $0.4 million and $0.3 million of such expense for the three months ended June 30, 2017 and 2016 , respectively, and $0.9 million and $0.6 million for the six months ended June 30, 2017 and 2016 , respectively. The effective interest rate on the 2018 Debentures is 8.7% . At June 30, 2017, the fair value of the $43.6 million outstanding 2018 Debentures was approximately $45.1 million , based on the midpoint of the bid and ask prices as of such date. The Company anticipates repaying or refinancing the outstanding 2018 Debentures by the maturity date of May 15, 2018.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense was recognized in the Consolidated Statements of Operations as follows: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 (Unaudited - In thousands) General and administrative expense $ 351 $ 467 $ 246 $ 1,275 $ 351 $ 467 $ 246 $ 1,275 The fair value of the Company’s option awards to employees was estimated at the date of grant using the Black-Scholes option-pricing model. The risk-free rate was based on the U.S. Treasury yield curve in effect at the end of the quarter in which the grant occurred. The expected term of stock options granted was estimated using the historical exercise behavior of employees. Expected volatility was based on historical volatility measured using weekly price observations of the Company’s common stock for a period equal to the stock option’s expected term. At June 30, 2017 , the Company had outstanding options that vest based on two different types of vesting schedules: 1) performance-based; 2) service-based. Performance-based awards entitle participants to vest in a number of awards determined by achievement by the Company of target capital returns based on net cash proceeds received by the Company on the sale, merger or other exit transaction of certain identified partner companies. Vesting may occur, if at all, once per year. The requisite service periods for the performance-based awards are based on the Company’s estimate of when the performance conditions will be met. Compensation expense is recognized for performance-based awards for which the performance condition is considered probable of achievement. Compensation expense is recognized over the requisite service periods using the straight-line method but is accelerated if capital return targets are achieved earlier than estimated. During the six months ended June 30, 2017 and 2016, the Company did not issue any performance-based options to employees and no performance-based options vested. During the six months ended June 30, 2017 and 2016, 8 thousand and 0 thousand performance-based options were canceled or forfeited. The Company recorded a reduction in compensation expense related to performance-based options of $0.1 million and $0.3 million for the three and six months ended June 30, 2017, respectively. The Company recorded compensation expense related to performance-based options of $0.0 million and $0.1 million for the three and six months ended June 30, 2016, respectively. The maximum number of unvested options at June 30, 2017 attainable under these grants was 336 thousand shares. Service-based options generally vest over four years after the date of grant and expire eight years after the date of grant. Compensation expense is recognized over the requisite service period using the straight-line method. The requisite service period for service-based options is the period over which the award vests. During the six months ended June 30, 2017 and 2016, the Company issued 0 thousand and 11 thousand service-based options, respectively, to employees. During the six months ended June 30, 2017 and 2016, 67 thousand and 8 thousand service-based options, respectively, were canceled or forfeited. The Company recorded compensation expense related to service-based options of $0.0 million for both the three months ended June 30, 2017 and 2016 and $0.1 million for both the six months ended June 30, 2017 and 2016, respectively. Performance-based stock units vest based on achievement by the Company of target capital returns based on net cash proceeds received by the Company on the sale, merger or other exit transaction of certain identified partner companies, as described above related to performance-based awards. Performance-based stock units represent the right to receive shares of the Company’s common stock, on a one-for-one basis. During the six months ended June 30, 2017 and 2016, the Company did not issue any performance-based stock units to employees and no performance-based stock units vested. During the six months ended June 30, 2017 and 2016, 6 thousand and 0 thousand performance-based stock units were canceled or forfeited. Under the terms of the 2016, 2015 and 2014 performance-based awards, once performance-based stock units are fully vested, participants are entitled to receive cash payments based on their initial performance grant values as target capital returns are exceeded. At June 30, 2017, the liability associated with such potential cash payments was $0.0 million . During the six months ended June 30, 2017 and 2016, the Company issued 45 thousand and 40 thousand deferred stock units, respectively, to non-employee directors for annual service grants or fees earned during the preceding quarter. Deferred stock units issued to directors in lieu of directors fees are 100% vested at the grant date; matching deferred stock units equal to 25% of directors’ fees deferred vest one year following the grant date or, if earlier, upon reaching age 65 . Deferred stock units are payable in stock on a one-for-one basis. Payments related to the deferred stock units are generally distributable following termination of employment or service, death or permanent disability. During the six months ended June 30, 2017 and 2016, the Company issued 7 thousand and 0 thousand restricted stock awards, respectively, and 2 thousand and 0 thousand restricted stock awards were canceled or forfeited, respectively. Total compensation expense for performance-based stock units, deferred stock units, and restricted stock was $0.4 million and $0.5 million for the three months ended June 30, 2017 and 2016, respectively, and $0.5 million and $1.1 million for the six months ended June 30, 2017 and 2016, respectively

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s consolidated income tax benefit (expense) was $0.0 million for the three and six months ended June 30, 2017 and 2016. The Company has recorded a valuation allowance to reduce its net deferred tax asset to an amount that is more likely than not to be realized in future years. Accordingly, the benefit of the net operating loss that would have been recognized in the three and six months ended June 30, 2017 was offset by changes in the valuation allowance. The tax expense that would have been recognized in the three and six months ended June 30, 2016 was offset by changes in the valuation allowance. During the six months ended June 30, 2017 , the Company had no material changes in uncertain tax positions.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share The calculations of net income (loss) per share were as follows: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 (Unaudited - In thousands, except per share data) Basic: Net income (loss) $ (29,097 ) $ 38,976 $ (51,194 ) $ 23,524 Weighted average common shares outstanding 20,411 20,333 20,395 20,391 Net income (loss) per share $ (1.43 ) $ 1.92 $ (2.51 ) $ 1.15 Diluted: Net income (loss) $ (29,097 ) $ 38,976 $ (51,194 ) $ 23,524 Interest on convertible senior debentures — 1,119 — 2,229 Net income (loss) for dilutive share computation (29,097 ) 40,095 (51,194 ) 25,753 Number of shares under in basic per share computation 20,411 20,333 20,395 20,391 Convertible senior debentures — 3,034 — 3,034 Unvested restricted stock and DSUs — 148 — 155 Employee stock options — 24 — 22 Weighted average common shares outstanding 20,411 23,539 20,395 23,602 Net income (loss) per share $ (1.43 ) $ 1.70 $ (2.51 ) $ 1.09 Basic and diluted average common shares outstanding for purposes of computing net income (loss) per share includes outstanding common shares and vested deferred stock units (DSUs). If a consolidated or equity method partner company has dilutive stock options, unvested restricted stock, DSUs or warrants, diluted net income (loss) per share is computed by first deducting the income attributable to the potential exercise of the dilutive securities of the partner company from net income (loss). Any impact is shown as an adjustment to net income (loss) for purposes of calculating diluted net income (loss) per share. Diluted earnings per share for the three and six months ended June 30, 2017 and 2016 do not reflect the following potential shares of common stock that would have an anti-dilutive effect or have unsatisfied performance or market conditions: • At June 30, 2017 and 2016, options to purchase 0.7 million and 0.7 million shares of common stock, respectively, at prices ranging from $9.83 to $19.95 and $7.41 to $19.95 , respectively, were excluded from the calculations. • At June 30, 2017 and 2016, unvested restricted stock, performance-based stock units and DSUs convertible into 0.9 million and 0.5 million shares of stock, respectively, were excluded from the calculations. • At June 30, 2017, 2.4 million shares of common stock representing the effect of the assumed conversion of the 2018 Debentures, were excluded from the calculations.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company operates as one operating segment based upon the similar nature of its technology-driven partner companies, the functional alignment of the organizational structure, and the reports that are regularly reviewed by the chief operating decision maker for the purpose of assessing performance and allocating resources. As of June 30, 2017 , the Company held interests in 28 non-consolidated partner companies. The Company’s active partner companies were as follows as of June 30, 2017 : Partner Company Safeguard Primary Ownership as of June 30, 2017 Accounting Method AdvantEdge Healthcare Solutions, Inc. 40.1% Equity Aktana, Inc. 24.5% Equity Apprenda, Inc. 29.4% Equity Brickwork 20.3% Equity Cask Data, Inc. 31.3% Equity CloudMine, Inc. 47.3% Equity Clutch Holdings, Inc. 42.8% Equity Full Measure Education, Inc. 42.3% Equity Good Start Genetics, Inc. 29.6% Equity Hoopla Software, Inc. 25.5% Equity InfoBionic, Inc. 39.7% Equity Lumesis, Inc. 44.1% Equity MediaMath, Inc. 20.5% Equity meQuilibrium 31.5% Equity Moxe Health Corporation 32.4% Equity NovaSom, Inc. 31.7% Equity Pneuron 35.4% Equity Prognos (fka Medivo, Inc.) 35.2% Equity Propeller Health, Inc. 24.0% Equity QuanticMind, Inc. 23.2% Equity Sonobi, Inc. 21.6% Equity Spongecell, Inc. 23.0% Equity Syapse, Inc. 26.2% Equity T-REX Group, Inc. 23.6% Equity Transactis, Inc. 24.0% Equity Trice Medical, Inc. 24.9% Equity WebLinc, Inc. 38.0% Equity Zipnosis, Inc. 25.4% Equity As of June 30, 2017 and December 31, 2016 , all of the Company’s assets were located in the United States.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company and its partner companies are involved in various claims and legal actions arising in the ordinary course of business. In the current opinion of the Company, the ultimate disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position or results of operations, however, no assurance can be given as to the outcome of these actions, and one or more adverse rulings could have a material adverse effect on the Company’s consolidated financial position and results of operations or that of its partner companies. The Company records costs associated with legal fees as such services are rendered. The Company had outstanding guarantees of $3.8 million at June 30, 2017 which related to one of the Company's private equity holdings. The Company is required to return a portion or all the distributions it received as a general partner of a private equity fund for further distribution to such fund's limited partners (“clawback”). The Company’s ownership in the fund is 19% . The clawback liability is joint and several, such that the Company may be required to fund the clawback for other general partners should they default. The Company believes its potential liability due to the possibility of default by other general partners is remote. The Company was notified by the fund's manager that the fund is being dissolved and $1.0 million of the Company's clawback liability was paid in the first quarter of 2017. The maximum additional clawback liability is $0.3 million which was reflected in Other long-term liabilities on the Consolidated Balance Sheet at June 30, 2017 . In October 2001, the Company entered into an agreement with a former Chairman and Chief Executive Officer of the Company, to provide for annual payments of $0.65 million per year and certain health care and other benefits for life. The related current liability of $0.8 million was included in Accrued expenses and other current liabilities and the long-term portion of $1.8 million was included in Other long-term liabilities on the Consolidated Balance Sheet at June 30, 2017 . The Company provided a $6.3 million letter of credit expiring on March 19, 2019 to the landlord of CompuCom Systems, Inc.’s Dallas headquarters as required in connection with the sale of CompuCom Systems in 2004. The letter of credit is secured by cash which is classified as Long-term restricted cash equivalents on the Consolidated Balance Sheet. The Company has agreements with certain employees that provide for severance payments to the employee in the event the employee is terminated without cause or an employee terminates his employment for “good reason.” The maximum aggregate exposure under the agreements was approximately $3.0 million at June 30, 2017 . In June 2011, the Company's former partner company, Advanced BioHealing, Inc. (“ABH”) was acquired by Shire plc (“Shire”). Prior to the expiration of the escrow period in March 2012, Shire filed a claim against all amounts held in escrow related to the sale based principally upon a United States Department of Justice (“DOJ”) false claims act investigation relating to ABH (the “Investigation”). In connection with the Investigation, in July 2015 the Company received a Civil Investigation Demand-Documentary Material (“CID”) from the DOJ regarding ABH and Safeguard’s relationship with ABH. Pursuant to the CID, the Company provided the requested materials and information. To the Company’s knowledge, the CID was related to multiple qui tam (“whistleblower”) actions, one of which was filed in 2014 by an ex-employee of ABH that named the Company and one of the Company’s employees along with other entities and individuals as defendants. At this time, the DOJ has declined to pursue the qui tam action as it relates to the Company and such Company employee. In addition, in connection with the above matters, the Company and other former equity holders in ABH recently entered into a settlement and release with Shire, which resulted in the release to Shire of all amounts held in escrow related to the sale of ABH.

Equity

Equity	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Equity	Equity In July 2015, the Company's Board of Directors authorized the Company, from time to time and depending on market conditions, to repurchase up to $25.0 million of the Company's outstanding common stock. During the six months ended June 30, 2016, the Company repurchased 0.4 million shares at an aggregate cost of $5.4 million with $14.6 million remaining for repurchase under the existing authorization.

General General (Policies)

General General (Policies)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Restricted Cash Equivalents	Restricted Cash Equivalents Restricted cash equivalents consist of certificates of deposit with various maturity dates. Amounts included in restricted cash equivalents represent those required to be set aside by a contractual agreement with a bank as collateral for a letter of credit. The restriction on the cash will lapse when the related letter of credit expires on March 19, 2019.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Evaluation of Accounting Standards Update No. 2014-09 In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"). ASU 2014-09 and related subsequent amendments outline a single comprehensive model to use to account for revenue arising from contracts with customers and supersede most current revenue recognition guidance. For public companies, the guidance is effective for annual periods beginning after December 15, 2017 and any interim periods that fall within that reporting period. For nonpublic companies, the guidance is effective for annual periods beginning after December 15, 2018 and interim periods within annual periods beginning after December 15, 2019 with early adoption permitted. As the new standard will supersede most existing revenue guidance, it could impact revenue and cost recognition for partner companies. Any change in revenue or cost recognition for partner companies could affect the Company's recognition of its share of the results of its equity method partner companies. The Company has been closely monitoring the FASB and SEC activity related to the new standard. On July 20, 2017, the SEC staff observer at the FASB’s Emerging Issues Task Force ("EITF") meeting announced that the SEC staff will not object if a private company equity method investee meeting the definition of a public business entity that otherwise would not meet the definition of a public business entity except for the inclusion of its financial statements or financial information in another entity’s filings with the SEC, uses private company adoption dates for the new revenue standard. As a result, the Company anticipates that its private, calendar year partner companies will adopt the new revenue standard for the year ending December 31, 2019. The impact of adoption of the new revenue standard will be reflected in the Company’s financial results for the interim and annual reporting periods beginning in 2020 on a one quarter-lag basis.

General General (Tables)

General General (Tables)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash equivalents reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows: June 30, 2017 December 31, 2016 (In thousands) Cash and cash equivalents $ 48,181 $ 22,058 Long-term restricted cash equivalents 6,336 6,336 Total cash, cash equivalents and restricted cash equivalents $ 54,517 $ 28,394

Ownership Interests in and Ad21

Ownership Interests in and Advances to Partner Companies and Funds (Tables)	6 Months Ended
	Jun. 30, 2017
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Ownership Interests in and Advances to Partner Companies and Private Equity Funds	The following summarizes the carrying value of the Company’s ownership interests in and advances to partner companies. June 30, 2017 December 31, 2016 (Unaudited - In thousands) Equity Method: Partner companies $ 118,513 $ 154,219 Private equity funds 445 447 118,958 154,666 Cost Method: Other holdings 2,687 2,112 Private equity funds 1,334 1,550 4,021 3,662 Advances to partner companies 25,050 25,142 $ 148,029 $ 183,470

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Carrying Value and Fair Value of Certain Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table provides the carrying value and fair value of certain financial assets and liabilities of the Company measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 : Carrying Value Fair Value Measurement at June 30, 2017 Level 1 Level 2 Level 3 (Unaudited - In thousands) Cash and cash equivalents $ 48,181 $ 48,181 $ — $ — Long-term restricted cash equivalents 6,336 6,336 — — — Marketable securities—held-to-maturity: Certificates of deposit $ 5,422 $ 5,422 $ — $ — Total marketable securities $ 5,422 $ 5,422 $ — $ — Carrying Value Fair Value Measurement at December 31, 2016 Level 1 Level 2 Level 3 (Unaudited - In thousands) Cash and cash equivalents $ 22,058 $ 22,058 $ — $ — Long-term restricted cash equivalents 6,336 6,336 — — Marketable securities—held-to-maturity: Certificates of deposit $ 15,686 $ 15,686 $ — $ — Total marketable securities $ 15,686 $ 15,686 $ — $ —

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Expense	Stock-based compensation expense was recognized in the Consolidated Statements of Operations as follows: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 (Unaudited - In thousands) General and administrative expense $ 351 $ 467 $ 246 $ 1,275 $ 351 $ 467 $ 246 $ 1,275
Types of Vesting Schedules	At June 30, 2017 , the Company had outstanding options that vest based on two different types of vesting schedules: 1) performance-based; 2) service-based.

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Calculations of Net Loss Per Share	The calculations of net income (loss) per share were as follows: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 (Unaudited - In thousands, except per share data) Basic: Net income (loss) $ (29,097 ) $ 38,976 $ (51,194 ) $ 23,524 Weighted average common shares outstanding 20,411 20,333 20,395 20,391 Net income (loss) per share $ (1.43 ) $ 1.92 $ (2.51 ) $ 1.15 Diluted: Net income (loss) $ (29,097 ) $ 38,976 $ (51,194 ) $ 23,524 Interest on convertible senior debentures — 1,119 — 2,229 Net income (loss) for dilutive share computation (29,097 ) 40,095 (51,194 ) 25,753 Number of shares under in basic per share computation 20,411 20,333 20,395 20,391 Convertible senior debentures — 3,034 — 3,034 Unvested restricted stock and DSUs — 148 — 155 Employee stock options — 24 — 22 Weighted average common shares outstanding 20,411 23,539 20,395 23,602 Net income (loss) per share $ (1.43 ) $ 1.70 $ (2.51 ) $ 1.09

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Active Partner Companies by Segment	The Company’s active partner companies were as follows as of June 30, 2017 : Partner Company Safeguard Primary Ownership as of June 30, 2017 Accounting Method AdvantEdge Healthcare Solutions, Inc. 40.1% Equity Aktana, Inc. 24.5% Equity Apprenda, Inc. 29.4% Equity Brickwork 20.3% Equity Cask Data, Inc. 31.3% Equity CloudMine, Inc. 47.3% Equity Clutch Holdings, Inc. 42.8% Equity Full Measure Education, Inc. 42.3% Equity Good Start Genetics, Inc. 29.6% Equity Hoopla Software, Inc. 25.5% Equity InfoBionic, Inc. 39.7% Equity Lumesis, Inc. 44.1% Equity MediaMath, Inc. 20.5% Equity meQuilibrium 31.5% Equity Moxe Health Corporation 32.4% Equity NovaSom, Inc. 31.7% Equity Pneuron 35.4% Equity Prognos (fka Medivo, Inc.) 35.2% Equity Propeller Health, Inc. 24.0% Equity QuanticMind, Inc. 23.2% Equity Sonobi, Inc. 21.6% Equity Spongecell, Inc. 23.0% Equity Syapse, Inc. 26.2% Equity T-REX Group, Inc. 23.6% Equity Transactis, Inc. 24.0% Equity Trice Medical, Inc. 24.9% Equity WebLinc, Inc. 38.0% Equity Zipnosis, Inc. 25.4% Equity

General Significant Accounting

General Significant Accounting Policies (Details)	Jun. 30, 2017USD ($)	May 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Nov. 30, 2012USD ($)
Debt Instrument [Line Items]
Marketable securities	$ 5,400,000
Cash, cash equivalents, and marketable securities	53,600,000
Cash and cash equivalents	48,181,000		$ 22,058,000
Long-term restricted cash equivalents	6,336,000		6,336,000
Total cash, cash equivalents and restricted cash equivalents	54,517,000		$ 28,394,000	$ 66,231,000	$ 32,838,000
Convertible Debt [Member]
Debt Instrument [Line Items]
Principal amount outstanding	43,600,000
Debt instrument, face amount	43,600,000					$ 55,000,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 75,000,000
Debt instrument, face amount	$ 50,000,000
Liquidity threshold		20,000,000
Unrestricted cash multiplier	1.75
Minimum aggregate appraised value plus liquidity threshold		$ 350,000,000

Ownership Interests in and Ad27

Ownership Interests in and Advances to Partner Companies and Funds - Carrying Value (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Investments In And Advances To Affiliates [Line Items]
Equity method investments	$ 118,958	$ 154,666
Cost method investments	4,021	3,662
Advances to partner companies	25,050	25,142
Investments in and advance to affiliates, subsidiaries, associates, and joint ventures	148,029	183,470
Partner companies
Investments In And Advances To Affiliates [Line Items]
Equity method investments	118,513	154,219
Cost method investments	2,687	2,112
Private equity funds
Investments In And Advances To Affiliates [Line Items]
Equity method investments	445	447
Cost method investments	$ 1,334	$ 1,550

Ownership Interests in and Ad28

Ownership Interests in and Advances to Partner Companies and Funds - Narrative (Detail) - USD ($) $ in Thousands

1 Months Ended

3 Months Ended

6 Months Ended

Apr. 30, 2017

Mar. 31, 2017

Jan. 31, 2017

Jul. 31, 2016

Apr. 30, 2016

Jul. 31, 2015

Jun. 30, 2017

Mar. 31, 2017

Jun. 30, 2017

Jun. 30, 2016

Mar. 03, 2017

Dec. 31, 2016

Investment [Line Items]

Proceeds from sale of business

$ 16,462

$ 72,824

Equity method investments

$ 118,958

118,958

$ 154,666

Pneuron

Investment [Line Items]

Asset Impairment Charges

2,200

$ 2,700

Equity method investments

0

0

Putney Inc [Member]

Investment [Line Items]

Proceeds from sale of business

$ 700

$ 58,600

Gain on sale of business

700

Beyond.com, Inc

Investment [Line Items]

Consideration received per transaction

$ 26,000

Proceeds from sale of business

$ 15,500

Term of note receivable (in years)

3 years

Amount of consideration received

$ 10,500

Interest rate on note receivable

9.50%

Gain on sale of business

100

Quantia, Inc.

Investment [Line Items]

Proceeds from sale of business

$ 600

$ 600

$ 7,800

Gain on sale of business

600

Thing Worx, Inc.

Investment [Line Items]

Proceeds from sale of business

$ 3,300

Gain on sale of business

$ 3,300

Spongecell Inc.

Investment [Line Items]

Asset Impairment Charges

3,600

Equity method investments

$ 7,800

$ 7,800

Acquisitions of Ownership Int29

Acquisitions of Ownership Interests in Partner Companies and Funds (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments				$ 8,026	$ 28,329
Equity method investments	$ 118,958		$ 154,666	118,958		$ 154,666
Good Start Genetics, Inc.
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments		$ 17,200
Convertible bridge loan	1,800
Cask Data
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments		11,000
Convertible bridge loan	600
CloudMine
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments		2,000				5,500
InfoBionic
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments						14,500
Convertible bridge loan		4,000
Lumesis, Inc.
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments						6,200
Convertible bridge loan		200
Novasom, Inc.
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments						22,000
Convertible bridge loan				1,000
Full Measure
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments		2,400	$ 8,600
Aventura
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments						6,200
Equity method investments	0			0
Convertible bridge loan		300
WebLinc
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments				$ 2,000		$ 12,000
Sonobi
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments		5,400
Convertible bridge loan	3,000
Trice Medical, Inc.
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments	2,100	8,000
Aktana, Inc.
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments	$ 1,500	$ 8,200

Fair Value Measurements - Carr

Fair Value Measurements - Carrying Value and Fair Value of Certain Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term restricted cash equivalents	$ 6,336	$ 6,336
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	48,181	22,058
Long-term restricted cash equivalents	6,336	6,336
Total marketable securities	5,422	15,686
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	5,422	15,686
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	48,181	22,058
Long-term restricted cash equivalents	6,336	6,336
Total marketable securities	5,422	15,686
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Long-term restricted cash equivalents	0	0
Total marketable securities	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Long-term restricted cash equivalents	0	0
Total marketable securities	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring | Certificates of deposit | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	5,422	15,686
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring | Certificates of deposit | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	0	0
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring | Certificates of deposit | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total marketable securities	$ 0	$ 0

Fair Value Measurements - Narr

Fair Value Measurements - Narrative (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Marketable securities, current	$ 4,733	$ 8,384
Marketable securities, non current	$ 689	$ 7,302

Credit Facility and Convertib32

Credit Facility and Convertible Debentures - Credit Arrangements Narrative (Detail)	1 Months Ended	3 Months Ended	6 Months Ended
	May 31, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
Debt Instrument [Line Items]
Proceeds from credit facility			$ 50,000,000	$ 0
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 75,000,000
Debt instrument, face amount		$ 50,000,000	$ 50,000,000
Proceeds from credit facility	$ 44,300,000
Debt instrument, term (in years)	3 years
Interest payable amount outstanding threshold	$ 50,000,000
Commitment fee percentage	0.75%
Liquidity threshold	$ 20,000,000
Unrestricted cash multiplier		1.75	1.75
Minimum aggregate appraised value plus liquidity threshold	$ 350,000,000
Unamortized discount		$ 2,500,000	$ 2,500,000
Unamortized debt issuance expense		3,000,000	3,000,000
Long-term debt		44,500,000	44,500,000
Amortization of debt issuance costs		$ 200,000	$ 200,000
Debt instrument, interest rate, effective percentage		14.30%	14.30%
Revolving Credit Facility | Line of Credit | Interest Rate Application B
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Revolving Credit Facility | Line of Credit | Interest Rate Application B | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	7.50%
Revolving Credit Facility | Line of Credit | London Interbank Offered Rate (LIBOR) | Interest Rate Application A
Debt Instrument [Line Items]
Basis spread on variable rate	8.50%
Revolving Credit Facility | Line of Credit | London Interbank Offered Rate (LIBOR) | Interest Rate Application A | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Revolving Credit Facility | Line of Credit | London Interbank Offered Rate (LIBOR) | Interest Rate Application B
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Revolving Credit Facility | Line of Credit | Federal Funds Effective Swap Rate | Interest Rate Application B
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%

Credit Facility and Convertib33

Credit Facility and Convertible Debentures - Convertible Senior Debentures Narrative (Detail) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Nov. 30, 2012
Debt Instrument [Line Items]
Repurchase of convertible senior debentures				$ 677,000
Convertible senior debentures - current	$ 42,320,000	$ 42,320,000		42,320,000		$ 0
Convertible Debt [Member]
Debt Instrument [Line Items]
Aggregate face value of convertible senior debentures	43,600,000	43,600,000		43,600,000			$ 55,000,000
Interest rate on debentures							5.25%
Repurchased face amount	11,400,000	11,400,000		11,400,000
Repayments of long-term debt	11,800,000
Loss on extinguishment of debt	0
Gross carrying amount of equity component	5,800,000	5,800,000		5,800,000
Principal amount outstanding	43,600,000	43,600,000		43,600,000
Unamortized discount	1,000,000	1,000,000		1,000,000
Deferred finance costs, noncurrent, net	300,000	300,000		300,000
Convertible senior debentures - current	$ 42,300,000	42,300,000		42,300,000
Amortization of debt discount (premium)		$ 400,000	$ 300,000	$ 900,000	$ 600,000
Debt instrument, interest rate, effective percentage	8.70%	8.70%		8.70%
Fair value of debentures outstanding	$ 45,100,000	$ 45,100,000		$ 45,100,000
Additional Paid-in Capital
Debt Instrument [Line Items]
Repurchase of convertible senior debentures				$ 677,000

Stock-Based Compensation - Sto

Stock-Based Compensation - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 351	$ 467	$ 246	$ 1,275
General And Administrative Expenses
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 351	$ 467	$ 246	$ 1,275

Stock-Based Compensation - Nar

Stock-Based Compensation - Narrative (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)vesting_type	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)vesting_typeyrshares	Jun. 30, 2016USD ($)shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of award vesting types | vesting_type	2		2
Cash liability for performance-based units | $	$ 0		$ 0
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cancelled in period (in shares)			6,000	0
Options, forfeitures in period (in shares)			8,000	0
Stock-based compensation expense | $	0.1	$ 0	$ 0.3
Stock-based compensation, maximum number of unvested shares (in shares)			336,000
Service Based Award
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options, forfeitures in period (in shares)			67,000	8,000
Stock-based compensation expense | $	0	0	$ 0.1	$ 0.1
Vesting period (in years)			4 years
Expiration period (in years)			8 years
Options issued (in shares)			0	11,000
Deferred Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of shares vested in lieu of directors fees at the grant date			100.00%
Portion of Director fees matched to deferred stock units			25.00%
Vesting period of deferred stock (in years)			1 year
Minimum age required for meeting directors fees deferred vest criteria | yr			65
Deferred Stock Units | Director
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued to non-employee individual (in shares)			45,000	40,000
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cancelled in period (in shares)			2,000	0
Restricted stock granted in period (in shares)			7,000	0
Deferred stock units, performance-based stock units and restricted stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense | $	$ 0.4	$ 0.5	$ 0.5	$ 1.1

Income Taxes (Detail)

Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income tax benefit (expense)	$ 0	$ 0	$ 0	$ 0

Net Income (Loss) Per Share -

Net Income (Loss) Per Share - Calculations of Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Basic:
Net income (loss)	$ (29,097)	$ 38,976	$ (51,194)	$ 23,524
Weighted average common shares outstanding (in shares)	20,411	20,333	20,395	20,391
Net income (loss) per share (in dollars per share)	$ (1.43)	$ 1.92	$ (2.51)	$ 1.15
Diluted:
Interest on convertible senior debentures	$ 0	$ 1,119	$ 0	$ 2,229
Net income (loss) for dilutive share computation	$ (29,097)	$ 40,095	$ (51,194)	$ 25,753
Convertible senior debentures (in shares)	0	3,034	0	3,034
Unvested restricted stock and DSUs (in shares)	0	148	0	155
Employee stock options (in shares)	0	24	0	22
Weighted average common shares outstanding (in shares)	20,411	23,539	20,395	23,602
Net income (loss) per share (in dollars per share)	$ (1.43)	$ 1.70	$ (2.51)	$ 1.09

Net Income (Loss) Per Share 38

Net Income (Loss) Per Share - Narrative (Detail) - $ / shares shares in Millions	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share of common stock excluded from diluted net loss per share calculation (in shares)	0.7	0.7
Shares of common stock at prices ranging, lower limit (in dollars per share)	$ 9.83	$ 7.41
Shares of common stock at prices ranging, upper limit (in dollars per share)	$ 19.95	$ 19.95
Deferred stock units, performance-based stock units and restricted stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share of common stock excluded from diluted net loss per share calculation (in shares)	0.9	0.5
Convertible Senior Debentures due 2018
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share of common stock excluded from diluted net loss per share calculation (in shares)	2.4

Segment Reporting - Narrative

Segment Reporting - Narrative (Detail)	Jun. 30, 2017nonconsolidated_partner_company
Segment Reporting [Abstract]
Non-consolidated partner companies	28

Segment Reporting - Active Par

Segment Reporting - Active Partner Companies by Segment (Detail)	Jun. 30, 2017
AdvantEdge Healthcare Solutions, Inc.
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	40.10%
Apprenda
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	29.40%
BrickWork
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	20.30%
Cask Data
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	31.30%
CloudMine
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	47.30%
Clutch Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	42.80%
Full Measure
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	42.30%
Hoopla Software, Inc.
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	25.50%
Lumesis, Inc.
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	44.10%
MediaMath, Inc.
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	20.50%
Moxe Health
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	32.40%
Pneuron
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	35.40%
Prognos
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	35.20%
QuanticMind, Inc.
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	23.20%
Sonobi
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	21.60%
Spongecell
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	23.00%
T-REX Group, Inc.
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	23.60%
Transactis
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	24.00%
WebLinc
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	38.00%
Healthcare | Aktana, Inc.
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	24.50%
Healthcare | Good Start Genetics, Inc.
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	29.60%
Healthcare | InfoBionic
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	39.70%
Healthcare | meQuilibrium
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	31.50%
Healthcare | Novasom, Inc.
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	31.70%
Healthcare | Propeller
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	24.00%
Healthcare | Syapse, Inc.
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	26.20%
Healthcare | Trice
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	24.90%
Healthcare | Zipnosis
Schedule of Equity Method Investments [Line Items]
Ownership interest under equity method, percentage	25.40%

Commitments and Contingencies (

Commitments and Contingencies (Detail) - USD ($) $ in Thousands	1 Months Ended
	Oct. 31, 2001	Jun. 30, 2017	Dec. 31, 2016
Commitment Contingencies And Guarantees [Line Items]
Accrued expenses		$ 1,942	$ 2,223
Other long-term liabilities		3,580	$ 3,630
Annual payments	$ 650
Employee Severance
Commitment Contingencies And Guarantees [Line Items]
Maximum severance payments		3,000
Letter of credit
Commitment Contingencies And Guarantees [Line Items]
Letter of credit under the credit facility		6,300
Accrued expenses and other current liabilities
Commitment Contingencies And Guarantees [Line Items]
Liability to former chairman and chief executive officer, current		800
Other long-term liabilities
Commitment Contingencies And Guarantees [Line Items]
Liability to former chairman and chief executive officer, non-current		1,800
Clawback Liability
Commitment Contingencies And Guarantees [Line Items]
Other long-term liabilities		$ 300
Company's ownership in the funds		19.00%
Clawback Liability Paid		$ 1,000
Private equity funds
Commitment Contingencies And Guarantees [Line Items]
Company outstanding guarantees		$ 3,800

Equity (Details)

Equity (Details) - Common Stock - USD ($) shares in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2017	Jul. 31, 2015
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount			$ 25,000,000
Repurchase of common stock (in shares)	0.4
Stock repurchased during period, value	$ 5,400,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 14,600,000