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Variable Interest Entities | 6 Months Ended
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Jun. 30, 2021
Marketwise, LLC |
Variable Interest Entity [Line Items] |
Variable Interest Entities | Variable Interest Entities We consolidated a VIE based on our ability to exercise power and being the primary beneficiary of the entity including directing the operations and marketing campaigns and sharing customer lists and publications, as of June 30, 2021 and December 31, 2020. There have been no reconsideration events during these periods. The assets of consolidated variable interest entities may only be used to settle obligations of these entities. In addition, there is no recourse to MarketWise for the consolidated VIE’s liabilities. The following represents financial information for the consolidated VIE included in the consolidated balance sheets:
| As of |  |
| June 30, 2021 |  | December 31, 2020 |  |
Current assets | $ | 3,759 |  |  | $ | 3,787 |  |  |
Noncurrent assets | 8 |  |  | 22 |  |  |
Total assets | $ | 3,767 |  |  | $ | 3,809 |  |  |
Current liabilities | $ | 3,109 |  |  | $ | 3,265 |  |  |
Noncurrent liabilities | — |  |  | — |  |  |
Total liabilities | $ | 3,109 |  |  | $ | 3,265 |  |  |
Variable Interest Entities We consolidated a VIE based on our ability to exercise power and being the primary beneficiary of the entity including directing the operations and marketing campaigns and sharing customer lists and publications, as of December 31, 2020 and 2019. There have been no reconsideration events during these periods. The assets of consolidated variable interest entities may only be used to settle obligations of these entities. In addition, there is no recourse to MarketWise for the consolidated VIE’s liabilities. The following represents financial information for the consolidated VIE included in the consolidated balance sheets:
| As of December 31, |  |
| 2020 |  | 2019 |  |
Current assets | $ | 3,787 |  |  | $ | 4,066 |  |  |
Noncurrent assets | 22 |  |  | 124 |  |  |
Total assets | $ | 3,809 |  |  | $ | 4,190 |  |  |
Current liabilities | $ | 3,265 |  |  | $ | 2,672 |  |  |
Noncurrent liabilities | — |  |  | 1,898 |  |  |
Total liabilities | $ | 3,265 |  |  | $ | 4,570 |  |  |

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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 + Details
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
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- Details
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