Other Income-Related Party

6 Months Ended

Jun. 30, 2022

Related Party Transactions [Abstract]

Other Income-Related Party

11.  Other Income—Related Party

The Company owns a non-core asset, consisting of a non-voting minority interest in a private company (the “Minority Interest”). The investment in the Minority Interest provides the Company with the potential to receive a portion of the future distributions of free cash flow, if any, at the discretion of the Minority Interest. Investment funds affiliated with the Chairman of the Company’s board of directors have a controlling interest in the Minority Interest. During the three and six months ended June 30, 2022, the Company received distributions from the Minority Interest of $6.4 million and $8.0 million, respectively. During the three and six months ended June 30, 2021, the Company received distributions from the Minority Interest of $2.5 million. In connection with the transactions contemplated by the Merger Agreement (see Note 15), the private company exercised its right under applicable governing documents to elect to redeem the Minority Interest for fair value, resulting in a payment to the Company of $6.2 million on July 6, 2022.