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Variable Interest Entities | 9 Months Ended
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Sep. 30, 2023
Variable Interest Entities |
Variable Interest Entities | Note 7 - Variable Interest Entities We evaluate our investments and other significant relationships to determine whether any investee is a variable interest entity (“VIE”). If we conclude that an investee is a VIE, we evaluate our power to direct the activities of the investee, our obligation to absorb the expected losses of the investee and our right to receive the expected residual returns of the investee to determine whether we are the primary beneficiary of the investee. If we are the primary beneficiary of a VIE, we consolidate such entity and reflect the non-controlling interest of other beneficiaries of that entity. ​ We determine whether we are the primary beneficiary of a VIE by performing an analysis that principally considers:
| ● | The VIE’s purpose, design, and risks the VIE was designed to create and pass through to its variable interest holders;
| ● | The VIE’s capital structure;
| ● | The terms between the VIE and its variable interest holders and other parties involved with the VIE; and
| ● | Related-party affiliations.
The table below presents a summary of the unconsolidated VIEs in which we hold variable interests: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2023 |  | December 31, 2022
Total unconsolidated variable interest entities: | ​ | ​ | ​ | ​ | ​ | ​
Carrying value of variable interest - assets | ​ | $ | 13,016 | ​ | $ | 11,530
Carrying value of variable interest - liabilities | ​ |  | — | ​ |  | —
Maximum exposure to loss: | ​ |  | ​ | ​ |  | ​
Non-public equity (1) | ​ | ​ | 13,016 | ​ | ​ | 11,530
Total | ​ | $ | 13,016 | ​ | $ | 11,530
(1) The maximum exposure to loss is limited to the carrying value of the interest. In the table above:
| ● | The nature of our variable interest is described in the row under maximum exposure to loss.
| ● | Our exposure to the obligations of the VIE is limited to our interest in the entity.
The primary purpose of our U.S-based, unconsolidated VIE investments is to create strategic partnerships with market-leading providers of law enforcement technology solutions. We present all variable interests in unconsolidated VIEs as strategic investments within the long-term assets section of the condensed consolidated balance sheet. We have provided financial support to the unconsolidated VIEs in exchange for preferred equity as well as warrants and call options that give us the ability to commit additional capital over time. Financial support provided to the unconsolidated VIEs is used to continue to finance their operations. We have no explicit or implicit arrangements to provide additional financial support to the VIEs and we have no liabilities to the VIEs as of September 30, 2023 and December 31, 2022.

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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//810/tableOfContent + Details
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