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INVESTMENTS
 9 Months Ended
Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENTS INVESTMENTS
As of September 30, 2021 and December 31, 2020, our carrying value in other equity investments was $122.9 million and $37.7 million. We hold available-for-sale securities and fair value option investments in various entities that had a carrying value of zero as of September 30, 2021 and December 31, 2020. Our percentage ownership in these investments for the periods reported was as follows:
September 30, 2021December 31, 2020
Percent Ownership of Voting StockPercent Ownership of Voting Stock
Other equity investments 1%to19%1%to19%
Available-for-sale securities - redeemable preferred shares19%to25%19%to25%
Fair value option investments10%to19%10%to19%
During the first quarter 2020, we recognized a $1.4 million loss from changes in the fair value of our fair value option investments.
Other Equity Investments
Other equity investments represent equity investments without readily determinable fair values recorded at cost adjusted for observable price changes and impairments. During the third quarter 2021, we adjusted the carrying value of an other equity investment in a mobile payments company due to an observable price change in an orderly transaction, which resulted in an unrealized gain of $89.1 million for the three and nine months ended September 30, 2021. During the third quarter 2021, we also sold 100% of our shares in an other equity investment for total cash consideration of $2.6 million and recognized a gain of $2.2 million. In the second quarter 2021, we divested our shares in an other equity investment and recognized a gain and total cash consideration of $4.2 million. The gains on our investments have been presented in Other income (expense), net in the condensed consolidated statements of operations for the applicable three and nine months ended September 30, 2021.
During the first quarter 2020, we sold 50% of our shares in an other equity investment for total cash consideration of $34.0 million. In addition, we recorded a $6.7 million impairment during the first quarter 2020 to an other equity investment as a result of revised cash flow projections and a deterioration in financial condition due to COVID-19. We did not recognize any impairments during the three and nine months ended September 30, 2021