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Other Non-Operating Income
 12 Months Ended
Dec. 31, 2020
Other Nonoperating Income (Expense) [Abstract]  
Other Non-Operating Income OTHER NON-OPERATING INCOME
A summary of non-operating income is as follows:
Year Ended December 31
(in thousands)202020192018
Net gain (loss) on sale of businesses$213,302 $(564)$8,157 
Impairment of cost method investments(7,327)— (2,697)
Net gain on cost method investments4,209 5,080 11,663 
Gain on acquiring a controlling interest in an equity affiliate3,708 — — 
Foreign currency loss, net(2,153)(1,070)(3,844)
Gain on sale of equity affiliates1,370 28,994 — 
Gain on sale of cost method investments1,039 267 2,845 
Loss on guarantor obligations(1,014)(1,075)(17,518)
Net (loss) gain on sale of property, plant and equipment— (82)2,539 
Other, net1,400 881 958 
Total Other Non-Operating Income$214,534 $32,431 $2,103 
In the first and fourth quarter of 2020, the Company recorded impairment losses of $2.6 million and $4.8 million, respectively, to equity securities that are accounted for as cost method investments.
In the second quarter of 2020, the Company made an additional investment in Framebridge (see Notes 3 and 4) that resulted in the Company obtaining control of the investee. The Company remeasured its previously held equity interest in Framebridge at the acquisition-date fair value and recorded a gain of $3.7 million. The fair value was determined using a market approach by using the share value indicated in the transaction.
In the second and third quarter of 2020, the Company recorded gains of $2.6 million and $1.6 million, respectively, resulting from observable price changes in the fair value of an equity security accounted for under the cost method.
In the fourth quarter of 2020, the Company recorded a $209.8 million gain on the sale of Megaphone.
In 2020, the Company recorded contingent consideration gains of $3.5 million related to the disposition of Kaplan University in 2018.
In the first quarter of 2019, the Company recorded a $29.0 million gain on the sale of the Company’s interest in Gimlet Media.
In the first and third quarter of 2019, the Company recorded gains of $1.3 million and $3.7 million, respectively, resulting from observable price changes in the fair value of equity securities accounted for under the cost method.
In 2018, the Company recorded a $17.5 million loss in guarantor lease obligations in connection with the sale of the KHE Campuses business.
In the third quarter of 2018, the Company recorded an $8.5 million gain resulting from observable price changes in the fair value of equity securities accounted for under the cost method. In the fourth quarter of 2018, an additional $3.2 million gain was recorded.
In 2018, the Company recorded an $8.2 million gain on the sale of three businesses in the education division, including a gain of $4.3 million on the Kaplan University transaction and $1.9 million in contingent consideration gains related to the sale of a business (see Note 3).