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Equity Method Investment (Tables)
12 Months Ended
Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Gain on Sale of Equity Method Investment The gain was computed as follows:

 

(in thousands)

 

March 10, 2022

 

Cash received

 

$

130,000

 

Plus: Fair value of equity method investment

 

 

31,223

 

Less: Carrying value of transferred assets

 

 

(29,974

)

Gain on sale of business

 

$

131,249

 

Schedule of Summarized Financial Information

Summarized financial information for OXB Solutions is as follows:

 

 

 

December 31,

 

 

 

2022

 

Balance Sheet Data

 

(in thousands)

 

Current assets

 

$

39,237

 

Noncurrent assets

 

$

228,745

 

Current liabilities

 

$

12,352

 

Noncurrent liabilities

 

$

37,718

 

 

 

 

December 31,

 

 

 

2022

 

Statement of Operations Data

 

(in thousands)

 

Revenues

 

$

29,380

 

Net loss

 

$

29,036

 

 

See Note 16 for information regarding the Company's related party transactions with OXB Solutions.