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Investments (Tables)
 12 Months Ended
Dec. 31, 2022
Investments [Abstract]  
Investments in marketable equity securities Investments in marketable equity securities consist of the following:
As of December 31
(in thousands)
20222021
Total cost
$270,764 $273,201 
Gross unrealized gains
363,147 537,915 
Gross unrealized losses(23,990)(1,119)
Total Fair Value
$609,921 $809,997 
(Loss) gain on marketable equity securities
The net (loss) gain on marketable equity securities comprised the following:
Year Ended December 31
(in thousands)
202220212020
(Loss) gain on marketable equity securities, net
$(139,589)$243,088 

$60,787 
Less: Net losses (gains) in earnings from marketable equity securities sold and donated
27,786 (17,830)13,382 
Net unrealized (losses) gains in earnings from marketable equity securities still held at the end of the year
$(111,803)

$225,258 

$74,169 
Summarized Financial Data of Nonconsolidated Affiliates
The summarized balance sheet data of the private equity fund investments consists of the following:
As of December 31
(in thousands)
20222021
Investments in securities, at estimated fair value
$1,974,189 $2,039,368 
Other current assets
19,072 28,590 
Total assets
$1,993,261 $2,067,958 
Total liabilities
$3,945 $4,790 
Total partners’ capital
1,989,316 2,063,168 
Total liabilities and partners’ capital
$1,993,261 $2,067,958 
The summarized operating data of the private equity fund investments was as follows:
Year Ended December 31
(in thousands)
202220212020
Net investment loss
$(14,129)$(13,324)$(15,301)
Net realized gain on investments
162,644 190,368 440 
Net change in unrealized (depreciation) appreciation on investments
(66,333)1,043,627 525,588 
Increase in net assets from operations
$82,182 $1,220,671 $510,727 
The summarized balance sheet data of the operating entity investments consists of the following:
As of December 31
(in thousands)
20222021
Current assets
$174,027 $203,274 
Noncurrent assets
542,625 569,505 
Total assets
$716,652 $772,779 
Current liabilities
$126,365 $219,220 
Noncurrent liabilities
386,425 329,965 
Total liabilities
$512,790 $549,185 
Noncontrolling interests
$(26,593)$(80,604)
The summarized operating data of the operating entity investments was as follows:
Year Ended December 31
(in thousands)
202220212020
Net sales
$459,949 $358,928 $312,194 
Gross profit
196,481 146,312 11,217 
Net income (loss)
3,206 135,241 (206,504)
Net income (loss) attributable to the entity
5,124 102,829 (148,394)