Discontinued Operations and Disposition of Businesses (Tables)

12 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the major classes of assets and liabilities of discontinued operations that were included in the Company’s Consolidated Balance Sheet as of December 31, 2020 (in thousands):

	December 31, 2020
ASSETS
Cash and cash equivalents	$	61,979
Accounts receivable, net of allowances $4,322	26,174
Prepaid expenses and other current assets	26,094
Total current assets, discontinued operations	114,247
Property and equipment, net	34,028
Operating lease right-of-use assets	30,230
Intangibles, net	137,112
Goodwill	582,067
Notes receivable from related parties, noncurrent	8,834
Deferred income taxes, noncurrent	9,772
Other assets	3,525
Total noncurrent assets, discontinued operations	805,568
Total assets, discontinued operations	$	919,815
LIABILITIES
Accounts payable and accrued expenses	$	48,243
Income taxes payable, current	8,224
Deferred revenue, current	79,277
Operating lease liabilities, current	7,235
Other current liabilities	495
Total current liabilities, discontinued operations	143,474
Deferred revenue, noncurrent	14,200
Operating lease liabilities, noncurrent	23,758
Liability for uncertain tax positions	49,268
Deferred income taxes, noncurrent	16,003
Other long-term liabilities	22,748
Total noncurrent liabilities, discontinued operations	125,977
Total liabilities, discontinued operations	$	269,451

The key components of income from discontinued operations that were included in the Company’s Consolidated Statement of Income are as follows (in thousands):

	Year ended December 31
	2021		2020		2019
Revenues	$	271,571	$	347,293	$	339,276
Cost of revenues	74,294		100,871		94,280
Gross Profit	197,277		246,422		244,996
Operating expenses:
Sales and marketing	72,425		72,080		58,875
Research, development and engineering	16,756		15,681		14,332
General and administrative	84,213		118,608		123,812
Goodwill impairment on business	32,629		—		—
Total operating expense	206,023		206,369		197,019
(Loss) income from discontinued operations	(8,746)		40,053		47,977
Interest expense	(235)		(939)		(1,015)
Interest income	693		963		467
(Loss) gain on sale of businesses	(21,797)		17,122		—
Other income (expense)	1,752		(1,606)		103
(Loss) income from discontinued operations before income taxes	(28,333)		55,593		47,532
Income tax (benefit) expense	(16,160)		25,093		13,448
(Loss) income from discontinued operations, net of income taxes	$	(12,173)	$	30,500	$	34,084

The key components of cash flows from discontinued operations are as follows (in thousands):

	Year ended December 31
	2021		2020		2019
Depreciation and amortization	$	39,727	$	67,995	$	70,700
Capital expenditure	14,322		19,633		15,229
Share-based compensation expense	602		4,138		2,711
Non-cash operating lease costs	2,814		4,364		5,454
Deferred taxes	554		7,723		(193)
Foreign currency remeasurement gain	(9)		3,574		1,420
Lease asset impairments and other charges	990		—		—
Loss (gain) on sale of businesses	21,797		(17,122)		—
Goodwill impairment on business	$	32,629	$	—	$	—