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Discontinued Operations (Tables) | 12 Months Ended
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Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Summary information of disposal classified as held for sale | The Company derecognized the following upon the Big Fish Transaction:
(in millions) |
Cash and cash equivalents | $ | 0.3 |
Accounts receivable | 34.7 |
Game software development, net | 6.7 |
Other current assets | 17.0 |
Property and equipment, net | 17.8 |
Game software development, net | 13.8 |
Goodwill | 530.7 |
Other intangible assets, net | 238.4 |
Other assets | 24.0 |
Accounts payable | (8.5 | )
Accrued expense | (22.6 | )
Deferred revenue | (44.2 | )
Deferred income taxes | (52.0 | )
Other liabilities | (4.9 | )
Carrying value of Big Fish Games | $ | 751.2 |
The following table presents the financial results of Big Fish Games included in "Income from discontinued operations, net of tax" in the accompanying consolidated statements of comprehensive income:
| Years Ended December 31,
(in millions) | 2018 |  | 2017 |  | 2016
Net revenue | $ | 13.2 |  |  | $ | 466.0 |  |  | $ | 486.2 |
Operating expenses | 8.4 |  |  | 369.0 |  |  | 398.9 |
Selling, general and administrative expense | 6.0 |  |  | 27.8 |  |  | 20.9 |
Research and development | 0.9 |  |  | 39.6 |  |  | 39.0 |
Transaction expense, net | — |  |  | 4.7 |  |  | 5.8 |
Total operating expense | 15.3 |  |  | 441.1 |  |  | 464.6 |
Operating (loss) income | (2.1 | ) |  | 24.9 |  |  | 21.6 |
Other income (expense) |  |  |  |  |
Gain on sale of Big Fish Games | 219.5 |  |  | — |  |  | — |
Other expense | 0.1 |  |  | (1.7 | ) |  | (0.9 | )
Total other income (loss) | 219.6 |  |  | (1.7 | ) |  | (0.9 | )
Income from discontinued operations before provision for income taxes | 217.5 |  |  | 23.2 |  |  | 20.7 |
Income tax provision | (47.3 | ) |  | (5.1 | ) |  | (9.3 | )
Income from discontinued operations, net of tax | $ | 170.2 |  |  | $ | 18.1 |  |  | $ | 11.4 |
The following table presents the major classes of assets and liabilities presented as held for sale related to the Big Fish Transaction as of December 31, 2017:
(in millions) | December 31, 2017
ASSETS |
Current assets: |
Cash and cash equivalents | $ | 2.6 |
Accounts receivable | 42.9 |
Game software development, net | 6.9 |
Other current assets | 16.7 |
Current assets of discontinued operations held for sale | 69.1 |
Property and equipment, net | 16.4 |
Game software development, net | 13.5 |
Goodwill | 530.7 |
Other intangible assets, net | 238.8 |
Other assets | 24.0 |
Long-term assets of discontinued operations held for sale | 823.4 |
Total assets | $ | 892.5 |
LIABILITIES |
Current liabilities: |
Accounts payable | $ | 5.5 |
Accrued expense | 35.0 |
Deferred revenue | 85.1 |
Big Fish Games deferred payment | 28.4 |
Big Fish Games earnout liability | 34.2 |
Current liabilities of discontinued operations held for sale | 188.2 |
Deferred income taxes | 47.6 |
Other liabilities | 7.2 |
Non-current liabilities of discontinued operations held for sale | 54.8 |
Total liabilities | $ | 243.0 |
Fair value of liabilities measured on recurring basis | The following tables present our liabilities measured at fair value on a recurring basis related to our discontinued operations and liabilities held for sale:
| Level 3
(in millions) | December 31, 2017
Big Fish Games deferred payments | $ | 28.4 |
Big Fish Games earnout liability | 34.2 |
Total | $ | 62.6 |
Fair value of liabilities measured on recurring basis, unobservable input reconciliation | The following table presents the change in fair value of our instruments classified within Level 3 related to our discontinued operations and liabilities held for sale:
| Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
(in millions) | Big Fish Games Deferred Payments |  | Big Fish Games Earnout Liability |  | Total
Balance as of December 31, 2017 | $ | 28.4 |  |  | $ | 34.2 |  |  | $ | 62.6 |
Payments | (28.4 | ) |  | (34.2 | ) |  | (62.6 | )
Balance as of December 31, 2018 | $ | — |  |  | $ | — |  |  | $ | — |

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