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Assets and Liabilities Held for Sale

3 Months Ended

Mar. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Held for Sale

Assets and Liabilities Held for Sale

Luxury

The Company has entered into a definitive agreement to sell Luxury, and it is classified as held for sale at March 31, 2022 and December 31, 2021. We have noted no change to our intention to sell and consider the sale to be probable pending regulatory approval. The agreement did not meet the requirements to be classified as a discontinued operation. The following table presents detail of Luxury’s assets and liabilities held for sale in the condensed consolidated balance sheets for the following periods:

			As of
			March 31, 2022						December 31, 2021
Assets:
Investments:
Loans, at fair value			$	106,429					$	236,810
Other investments			2,835						2,071
Total investments			109,264						238,881
Cash, cash equivalents and restricted cash			12,549						9,360
Notes and accounts receivable, net			336						157
Other assets			2,037						2,210
Assets held for sale			$	124,186					$	250,608
Liabilities:
Debt, net			$	105,376					$	227,973
Other liabilities and accrued expenses (1)			11,957						15,021
Liabilities held for sale			$	117,333					$	242,994

(1)    Includes deferred tax liabilities of $430 and $659 as of March 31, 2022 and December 31, 2021, respectively.

Luxury’s earnings had no impact to net income (loss) attributable to common stockholders for the three months ended March 31, 2022 and 2021.

Marine

In March 2022, the Company entered into a definitive agreement to sell a vessel from its maritime shipping operations for a price of $21,500, and the vessel and related assets are classified as held for sale at March 31, 2022. There are no related liabilities. The agreement did not meet the requirements to be classified as a discontinued operation. We expect the sale to be completed in the second quarter of 2022. The following table presents detail of the assets held for sale in the condensed consolidated balance sheets for March 31, 2022:

			As of
			March 31, 2022
Assets:
Investments:
Other investments			$	13,364
Total investments			13,364
Other assets			701
Assets held for sale			$	14,065

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- References

No definition available.

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- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=2122178

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