Investments Accounted for Under the Equity Method |
12 Months Ended |
|---|---|
Dec. 31, 2021 | |
| Equity Method Investments and Joint Ventures [Abstract] | |
| Investments Accounted for Under the Equity Method | Investments Accounted for Under the Equity Method As of December 31, 2020 and 2021, the carrying values of the Company’s equity method investments were $21.0 million and $17.4 million, respectively. For the years ended December 31, 2019, 2020, and 2021, the Company recorded losses of $6.0 million, $8.2 million, and $3.5 million, respectively, within other income (expense), net in the consolidated statements of operations, representing its proportionate share of net income or loss based on the investee’s financial results. Also, during the years ended December 31, 2019 and 2020, the Company recorded impairment charges of $9.8 million and $29.0 million, respectively, related to the carrying value of equity method investments within other income (expense), net. There were no impairment charges for the year ended December 31, 2021. In December 2016, the Company purchased convertible preferred shares of a company (the “2016 Investee”) that provides a mobile app for restaurant reservations for an aggregate price of $10.0 million. In conjunction with this transaction, the 2016 Investee issued warrants, at no cost, to the Company to purchase additional shares, which were exercised in 2018. Prior to exercise, the Company marked-to-market and recorded unrealized losses on the warrants, which were not material for the year ended December 31, 2018. In July 2019, the 2016 Investee was acquired by a third party, resulting in a gain of $24.6 million recorded in other income (expense), net in the consolidated statements of operations. |