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Variable Interest Entities

6 Months Ended

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

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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.

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