Exit Activities

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

25. Exit Activities

The following table summarizes operating losses recognized by the Company’s wholly-owned subsidiaries that have either been sold or liquidated during reporting periods covered by its consolidated financial statements:


	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
WTAMC	$	—	$	607	$	428	$	1,384
WisdomTree Japan Inc. (“WTJ”) (1)		—		35		—		465

Total	$	—	$	642	$	428	$	1,849

(1)	WTJ also recognized an impairment expense of $572 in connection with the termination of its office lease on March 31, 2019

Sale of Canadian ETF Business

On February 19, 2020, the Company completed the sale of all the outstanding shares of WTAMC to CI Financial Corp. The Company received CDN $3,720 (USD $2,774) in cash at closing and will receive additional cash consideration of CDN $2,000 to $8,000, depending on the achievement of certain AUM growth targets over the next three years.

During the six months ended June 30, 2020, the Company recognized a $2,877 gain on sale which was recorded in other gains and losses, net on the Consolidated Statements of Operations and represents the difference between the minimum cash consideration payable to the Company and the carrying value of WTAMC’s net assets upon disposition. Contingent payments, if any, are recognized by the Company when the contingency is resolved and the gain is realized.

Restructuring of Distribution Strategy in Japan

In July 2018, the Company determined to restructure its distribution strategy in Japan and expanded its existing relationship with Premia Partners Company Limited to manage distribution of the Company’s ETFs in Japan. As a result, WTJ ceased operations and was liquidated in September 2019.