Equity Investments (Tables) |
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Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transportation Resource Partners Investments and Commitments | The following table presents ownership and commitment information for the Company's investments in TRP partnerships:
1The Company's share of the results is included within "Other income, net" in the consolidated statements of comprehensive income. 2In accordance with ASC 321, Investments – Equity Securities, these investments are recorded at cost minus impairment. 3Management anticipates that $1.7 million will be due in 2022. 4Management anticipates that the following amounts will be due: $0.1 million in 2022, $0.1 million from 2023 through 2024, $0.5 million in 2025, and none thereafter. 5The TRP III, TRP IV Coinvestments, TRP V, and TRP V Coinvest are unconsolidated majority interests. Management considered the criteria set forth in ASC 323, Investments – Equity Method and Joint Ventures, to establish the appropriate accounting treatment for these investments. This guidance requires the use of the equity method for recording investments in limited partnerships where the "so minor" interest is not met. As such, the investments are being accounted for under the equity method. Knight's ownership interest reflects its ultimate ownership of the portfolio companies underlying the TRP III, TRP IV Coinvestment NTI, TRP IV Coninvestment QLS, TRP IV Coinvestment FFR, TRP V, and TRP V Coninvest legal entities. 6Management anticipates that the following amounts will be due: $7.2 million in 2022, $7.2 million from 2023 through 2024, $0.9 million from 2025 through 2026, and $2.5 million thereafter.
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Net Investments Carrying Value | Net investment balances included in "Other long-term assets" in the consolidated balance sheets were as follows:
1In accordance with ASC 321, Investments – Equity Securities, these investments are recorded at cost minus impairment. 2In accordance with ASC 323, Investments – Equity Method and Joint Ventures, the net investment balance includes accretion of amortization of certain definite-lived intangibles.
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