Sale of Pelican Business and Investment in Primrose Bio (Tables)

3 Months Ended

Mar. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Carrying Amounts of Major Classes of Assets and Liabilities Related to Assets Held for Sale

We determined that the sale of Pelican meets the definition of a deconsolidation of a business. Net assets sold together with allocated goodwill and cash consideration paid were as follows (in thousands):

Property and equipment, net	$	8,250
Intangible assets	19,895
Other assets	717
Operating lease right-of-use assets	8,693
Finance lease right-of-use assets	20
Accrued liabilities	(630)
Deferred revenue	(495)
Long-term operating lease liabilities	(8,445)
Other liabilities	(74)
Net assets sold	27,931
Allocated goodwill	4,132
Cash consideration paid	15,000
	$	47,063

Schedule of Fair Value of the Consideration

Fair value of the consideration received includes the following (in thousands):

Equity method investment	$	13,706
Equity securities	32,278
Derivative assets	3,200
	$	49,184