|12 Months Ended
Dec. 31, 2022
|Subsequent Events [Abstract]
The Company has evaluated subsequent events occurring through March 9, 2023, the date that these financial statements were originally available to be issued, and determined the following subsequent events occurred that would require disclosure in these financial statements.
In March 2023, the Company completed the sale of its Rebdolls reporting unit back to its founder. Upon close of the transaction, the Company expects to record a pre-tax loss of approximately $1.1 million in other expense, net in its consolidated statements of income in the first quarter of fiscal year 2023.
Partial Repayment of Revolving Line of Credit
On February 21, 2023, the Company repaid $6.0 million of the outstanding balance on its revolving line of credit. The remaining balance is due on September 24, 2026.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef