Business Segment Information and Geographic Data

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Business Segment Information and Geographic Data

Note 12 — Business Segment Information and Geographic Data

The Sports Technology Platform business is presented in our Consolidated Statements of Operations as discontinued operations and is not included in segment results for all periods presented. See Note 4 - Discontinued Operations for further information about these divestitures.

As of December 31, 2021, the asset management business is our only reportable segment.

We evaluate segment performance based on revenue and operating loss. The operating loss reported in our segments excludes corporate and other unallocated amounts. Although such amounts are excluded from the business segment results, they are included in reported consolidated results. The corporate and unallocated operating loss includes costs which are not allocated to the business segments in management’s evaluation of segment performance such as litigation settlement expense, corporate expense and other expenses. Restructuring expenses of $0.3 million associated with the Adara bankruptcy were allocated to the asset management business.

	Years Ended December 31,
	2021			2020
	(In millions)
Operating income (loss) from continuing operations
Asset management business	$	(2.0	)	$	(5.2	)
Total segment operating loss		(2.0	)		(5.2	)
Corporate and unallocated		(4.2	)		(1.5	)
Total operating loss		(6.2	)		(6.7	)
Interest expense		(2.0	)		(2.6	)
Gain on Chapter 11 reorganization		20.4			(1.9	)
Bank Loan forgiveness		0.4			(8.5	)
Realized losses on investments		—			(1.9	)
Defined benefit plan adjustment		—			(8.5	)
Other income (expense), net		0.4			0.1
Income (loss) from continuing operations before income taxes	$	13.0		$	(19.6	)

	December 31,		December 31,
	2021		2020
	(In millions)
Assets
Asset management business	$	13.2	$	15.8
Total segment assets		13.2		15.8
Corporate and unallocated		4.0		1.2
Non-current assets of discontinued operations		—		8.4
Total consolidated assets	$	17.2	$	25.4