INVESTMENTS

12 Months Ended

Dec. 31, 2021

The following table summarizes the Company's investments in nonconsolidated affiliates and other securities:


(In thousands)	Available-for-Sale Debt Securities		Equity Method Investments		Other Investments		Marketable Equity Securities		Total Investments
Balance at December 31, 2019 (Successor)	$	33,128	$	10,952	$	16,989	$	2,700	$	63,769

Purchases of investments	9,595		1,523		7,629		—		18,747
Equity in loss	—		(379)		—		—		(379)
Disposals	(194)		(1,000)						(1,194)

Distributions received	—		(31)		—		—		(31)
Loss on investments	(7,116)		—		(959)		(1,271)		(9,346)

Other	(3,957)		—		2,965		—		(992)
Balance at December 31, 2020 (Successor)	$	31,456	$	11,065	$	26,624	$	1,429	$	70,574

Purchases of investments	7,263		690		15,368		—		23,321
Equity in loss	—		(1,138)		—		—		(1,138)
Disposals	(426)		—		(1,172)		—		(1,598)


Gain (loss) on investments, net	(62)		—		(8,680)		2,801		(5,941)

Other	(4,363)		—		5,070		—		707
Balance at December 31, 2021 (Successor)	$	33,868	$	10,617	$	37,210	$	4,230	$	85,925

Equity method investments in the table above are not consolidated, but are accounted for under the equity method of accounting. The Company records its investments in these entities on the balance sheet within “Other assets.” The Company's interests in the operations of equity method investments are recorded in the statement of comprehensive income (loss) as “Equity in loss of nonconsolidated affiliates.” Other investments includes various investments in companies for which there is no readily determinable market value.

During 2021, the Successor Company recorded $17.5 million for investments made in seven companies in exchange for advertising services and cash. One of these investments is being accounted for under the equity method of accounting, three of these investments are being accounted for at amortized cost and three of these investments are notes receivable that are convertible into cash or equity.

During 2020, the Successor Company recorded $15.0 million for investments made in seven companies in exchange for advertising services and cash. One of these investments is being accounted for under the equity method of accounting, two of these investments are being accounted for at amortized cost and four of these investments are notes receivable that are convertible into cash or equity.

The Successor Company recognized barter revenue of $16.3 million and $10.5 million in the year ended December 31, 2021 and the year ended December 31, 2020, respectively. The Successor Company recognized non-cash investment impairments totaling $8.7 million and $5.7 million on our investments for the year ended December 31, 2021 and the year ended December 31, 2020, respectively, which were recorded in “Gain (loss) on investments, net.”