Investments in Nonconsolidated Affiliates (Tables) |
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Equity Method Investments, Joint Ventures And Cost Method Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost and Equity Method Investments | The Company’s investments in nonconsolidated affiliates, which are accounted for under the equity method of accounting or as equity investments without readily determinable fair value, are included within Investments in nonconsolidated affiliates in the accompanying consolidated balance sheets and consisted of the following:
_________________ (a)In January 2023, the Company, through an indirect subsidiary, extended financing to Holoplot GmbH (“Holoplot”) in the form of a three-year convertible loan (the “Holoplot Loan”) of €18,804, equivalent to $20,484 using the applicable exchange rate at the time of the transaction. The Holoplot Loan is comprised of $7,625 cash and $12,859 of outstanding deposits paid by the Company to Holoplot in prior periods, plus accrued interest. Absent conversion, which is currently not available under the terms of the Holoplot Loan, the Holoplot Loan and interest accrued thereon are due and payable at the conclusion of the three year term. (b)The Company elected the fair value option for its investment in MSG Entertainment. The fair value of the investment is determined based on quoted market prices on the New York Stock Exchange (“NYSE”), which are classified within Level I of the fair value hierarchy. (c)For Fiscal Year 2023, the Company recorded an increase of $1,969 to the carrying value of its equity investments without readily determinable fair values. For Fiscal Years 2022 and 2021, the Company did not have any changes in carrying value recorded to its equity investments without readily determinable fair values.
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Gain (Loss) on Securities | The following table summarizes the unrealized and realized gains on the MSGE Retained Interest, which are reported in Other income (expenses), net in the accompanying consolidated statements of operations:
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