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Equity Method Investment in Equity Investee (Tables) | 12 Months Ended
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Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of deconsolidation | The gain on deconsolidation of the JV Company was calculated as follows:
|  |  | (in thousands) |
Cash received for sales of shares in the JV Company |  | $ | 16,924 |  |
Fair value of retained equity method investment |  | 393,124 |  |
Carrying amount of non-controlling interest |  | 143,889 |  |
Cumulative translation adjustment removal |  | 1,793 |  |
Carrying amount of net assets of the JV Company at December 1, 2021 |  | (156,637) |  |
Gain on deconsolidation of the JV Company |  | $ | 399,093 |  |
The net loss associated with these sales of JV Company equity interest held by the Company were recorded in the fiscal year ended June 30, 2022 as follows:
|  | (in thousands) |
Gain on 1.1% equity interest sold |  | $ | 475 |  |
Loss on diluted equity interest from issuance of shares under the employee equity incentive plan |  | (8,116) |  |
Gain on 7.82% equity interest sold |  | 4,501 |  |
Loss on changes on equity interest of the JV Company, net |  | $ | (3,140) |  |
Summarized financial information of joint venture | The following table presents summarized financial information for the JV Company as of and for the period from December 2, 2021 through March 31, 2022, using lag reporting (in thousands):
|  | As of March 31, 2022 |  |
Current assets |  | $ | 198,323 |  |  |
Non-current assets |  | $ | 364,777 |  |  |
Current liabilities |  | $ | 251,988 |  |  |
Non-current liabilities |  | $ | 76,207 |  |  |
|  | For the periods of December 2, 2021 to March 31, 2022 |  |
Revenue |  | $ | 68,972 |  |  |
Gross loss |  | $ | 870 |  |  |
Operating expenses |  | $ | 2,280 |  |  |
Net loss |  | $ | 6,197 |  |  |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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