INVESTMENTS

The following table summarizes the Company's investments in nonconsolidated affiliates and other securities:



(In thousands)	Notes Receivable			Equity Method Investments			Other Investments			Marketable Equity Securities			Total Investments
Balance at December 31, 2017 (Predecessor)	$	13,792		$	19,050		$	75,623		$	—		$	108,465
Purchases of investments	14,823			4,737			1,348			—			20,908
Equity in earnings	—			116			—			—			116
Disposals	—			—			(28,389		)	—			(28,389		)
Impairment of investments	(2,064		)	—			(14,158		)	—			(16,222		)
Fair value adjustments	—			—			4,389			—			4,389
Other	(728		)	201			—			—			(527		)
Balance at December 31, 2018 (Predecessor)	$	25,823		$	24,104		$	38,813		$	—		$	88,740
Purchases of investments	—			591			103			—			694
Equity in loss	—			(66		)	—			—			(66		)
Impairment of investments	(1,895		)	—			(8,342		)	—			(10,237		)
Other	(3		)	—			—			—			(3		)
Balance at May 1, 2019 (Predecessor)	$	23,925		$	24,629		$	30,574		$	—		$	79,128
Impact of fresh start accounting	(8,842		)	(14,986		)	(1,062		)	—			(24,890		)


Balance at May 2, 2019 (Successor)	$	15,083		$	9,643		$	29,512		$	—		$	54,238
Purchases of investments	24,103			1,588			2,425			3,440			31,556
Equity in loss	—			(279		)	—			—			(279		)
Impairment of investments	—			—			(21,003		)	—			(21,003		)
Loss on marketable equity securities	—			—			—			(740		)	(740		)
Other	(6,058		)	—			6,055			—			(3		)
December 31, 2019 (Successor)	$	33,128		$	10,952		$	16,989		$	2,700		$	63,769

Equity method investments in the table above are not consolidated, but are accounted for under the equity method of accounting. The Company records its investments in these entities on the balance sheet as “Other assets.” The Company's interests in the operations of equity method investments are recorded in the statement of comprehensive income (loss) as “Equity in earnings (loss) of nonconsolidated affiliates.” Other investments includes various investments in companies for which there is no readily determinable market value.

During the period from May 2, 2019 through December 31, 2019, the Successor Company recorded $30.0 million in its Audio segment for investments made in eleven companies in exchange for advertising services and cash. Two of these investments are being accounted for under the equity method of accounting, one of these investments is being accounted for at amortized cost, one of these investments is being accounted for as an available-for-sale security and six of these investments are notes receivable that are convertible into cash or equity. During 2018, the Predecessor Company recorded $20.8 million in its Audio segment for investments made in twelve private companies in exchange for advertising services and cash. Two of these investments are being accounted for under the equity method of accounting, five of these investments are being accounted for at amortized cost and five of these investments are notes receivable that are convertible into equity.

The Successor Company recognized barter revenue of $13.0 million in the period from May 2, 2019 through December 31, 2019. The Predecessor Company recognized barter revenue of $6.0 million and $10.8 million in the period from January 1, 2019 through May 1, 2019 and the year ended December 31, 2018, respectively, in connection with these investments as services were provided. The Successor Company recognized non-cash investment impairments totaling $21.0 million on our investments for the period from May 2, 2019 through December 31, 2019, which were recorded in “Loss on investments, net.” The Predecessor Company recognized non-cash investment impairments totaling $10.2 million and $16.2 million on our investments for the period from January 1, 2019 through May 1, 2019 and the year ended December 31, 2018, respectively, which were recorded in “Loss on investments, net.” The Predecessor Company recognized a net gain of $4.4 million related to the acquisition of Jelli, Inc., which the Company acquired during the fourth quarter of 2018. The gain is included within "Loss on investments, net."