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Significant Equity Method Investments
12 Months Ended
Dec. 31, 2019
Equity Method Investments And Joint Ventures [Abstract]  
Significant Equity Method Investments

Note 17. Significant Equity Method Investments

In accordance with Rules 3-09 and 4-08(g) of Regulation S-X, the Company must assess whether any of its equity method investments are significant equity method investments. In evaluating the significance of these investments, the Company performed the income test, the investment test and the asset test described in S-X 3-05 and S-X 1-02(w). Rule 3-09 of Regulation S-X requires separate audited financial statements of an equity method investee in an annual report if either the income or investment test exceeds 20%.  As of December 31, 2019, and 2018, none of our investments was considered a significant subsidiary under Rule 3-09.  Rule 4-08(g) of Regulation S-X requires summarized financial information in an annual report if any of the three tests exceeds 10%. Under the income test, the Company’s proportionate share of its equity method investees' aggregated net losses exceeded the applicable threshold of 10% and is accordingly required to provide summarized financial information for these investees for all periods presented in this Form 10-K.  

The following table provides summarized balance sheet information for the Company’s equity method investments as of December 31, 2019 and 2018. The Company’s equity method investments are included in the other assets line on the consolidated balances sheet and are largely concentrated in new or emerging financial service technology companies.

 

 

 

As of December 31,

 

Balance sheet data

 

2019

 

 

2018

 

Current assets

 

$

56,710

 

 

$

63,048

 

Noncurrent assets

 

 

162,304

 

 

 

156,858

 

Total assets

 

$

219,014

 

 

$

219,906

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

$

19,910

 

 

$

12,229

 

Noncurrent liabilities

 

 

683

 

 

 

432

 

Total liabilities

 

 

20,593

 

 

 

12,661

 

Equity interests

 

 

198,421

 

 

 

207,245

 

Total liabilities and equity

 

$

219,014

 

 

$

219,906

 

 

The following table provides summarized income statement information for the Company’s equity method investments for the years ended December 31, 2019, 2018, and 2017.

 

 

 

Years ended December 31,

 

Summary of operations

 

2019

 

 

2018

 

 

2017

 

Total revenues

 

$

56,472

 

 

$

54,567

 

 

$

13,855

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

(25,778

)

 

 

(10,582

)

 

 

(4,614

)