Ownership Interests in and Advances to Partner Companies

The following summarizes the carrying value of the Company’s ownership interests in and advances to partner companies.



	March 31, 2019		December 31, 2018
	(Unaudited - In thousands)
Equity Method Companies:
Partner companies	$	48,342	$	64,097
Private equity funds	392		392
	48,734		64,489
Other Companies:
Partner companies and other holdings	17,585		15,260
Private equity funds	500		511
	18,085		15,771
Advances to partner companies	18,784		15,325
	$	85,603	$	95,585

In January 2019, Propeller was acquired by another entity for cash. The Company received $41.5 million in cash proceeds in connection with the transaction, excluding $0.8 million of holdbacks and escrows that may be substantially released on various dates on or before January 2020. The Company recognized a gain of $34.9 million, which is included in Equity income (loss) in the Consolidated Statements of Operations for the three months ended March 31, 2019.

In January 2019, Brickwork merged into another privately-held company. The Company received a preferred equity interest in the acquiror and accounts for this interest as an equity interest without a readily determinable fair value. The Company did not recognize a gain or loss in 2019 as a result of this transaction.

Summarized Financial Information

The following table summarizes statement of operations for any partner companies accounted for under the equity method for the three months ended March 31, 2019 and 2018, respectively. These results have been compiled from respective company financial statements, reflect certain historical adjustments, and are reported on a one quarter lag basis. Results of operations of the companies are excluded for periods prior to their acquisition, subsequent to their disposition and subsequent to the discontinuation of equity method of accounting. Historical results are not adjusted when the Company exits, writes-off or discontinues the equity method of accounting.



	Three months ended March 31,
	2019			2018
	(Unaudited - In thousands)
Results of Operations:
Revenue	$	43,868		$	110,393
Gross profit	$	24,589		$	78,071
Net loss	$	(33,616	)	$	(31,805	)