4. Gains on Sale of Trademarks, Net

The following table details transactions comprising gains on sale of trademarks, net in the condensed consolidated income statements:

	Three Months Ended March 31,
	2016
BBC and Ice Cream brands	$	(593	)
Badgley Mischka intellectual property / MJCLK apparel license		11,562
Net gains on sale of trademarks	$	10,969

In February 2016, the Company sold the rights to the Badgley Mischka intellectual property and related assets to Titan Industries, Inc. in partnership with the founders, Mark Badgley and James Mischka, and the apparel license MJCLK LLC for $13.8 million in cash. The Company recognized a gain of $11.6 million as a result of this transaction which has been recorded within gains on sale of trademarks, net on the Company’s condensed consolidated statement of income for the three months ended March 31, 2016.

In January 2016, the Company sold its interest in the BBC and Ice Cream brands for $3.5 million in cash. The Company recognized a loss of $0.6 million as a result of this transaction which has been recorded within gains on sale of trademarks, net on the Company’s condensed consolidated statement of income for the three months ended March 31, 2016.

There were no gains on sale of trademarks in the Prior Year Quarter.