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Redemption of non-controlling interest | 3 Months Ended
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Mar. 31, 2022
Redemption of non-controlling interest |
Redemption of non-controlling interest | 8. Redemption of non-controlling interest On March 31, 2022, the Company redeemed the 7.5% non-controlling interest in Innodata Synodex, LLC; Innodata Synodex, LLC is now a wholly owned subsidiary. The Company accounted for the transaction in accordance with ASC Topic 810, “Consolidation”, which discusses the proper accounting treatment of the carrying value for the non-controlling interest. Under the standard, any change in ownership that does not result in a loss of control is to be accounted for as an equity transaction. To comply with the standard, the Company reclassified the remaining carrying value of the Non-controlling interest attributed to the Synodex subsidiary amounting to $2.9 million from Non-controlling interest to Additional paid-in capital in the Condensed Consolidated Balance Sheets as of March 31, 2022.

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