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50% OWNED SUBSIDIARY | 9 Months Ended
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Sep. 30, 2025
Noncontrolling Interest [Abstract] |
50% OWNED SUBSIDIARY |
5. | 50% OWNED SUBSIDIARY
Financial amounts of RHB and the Company’s share of such amounts are shown below:
| September 30, 2025 |  | December 31, 2024
Current assets - RHB’s Balance Sheet | $ | 126,161 |  |  | $ | 126,177 |
Current liabilities - RHB’s Balance Sheet | $ | 131,204 |  |  | $ | 135,550 |
Investment in unconsolidated subsidiary - Sterling’s Balance Sheet (1) | $ | 108,512 |  |  | $ | 107,400 |
(1) Includes the basis difference recognized as a result of the deconsolidation of RHB. The basis difference was $94,068 and $100,507 at September 30, 2025 and December 31, 2024, respectively.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
RHB’s Statements of Operations |  |  |  |  |  |  |
Revenues | $ | 63,560 |  |  | $ | 72,188 |  |  | $ | 168,327 |  |  | $ | 184,599 |
Income before tax | $ | 15,102 |  |  | $ | 13,733 |  |  | $ | 35,042 |  |  | $ | 33,344 |
Sterling’s Statements of Operations |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 72,188 |  |  | $ | — |  |  | $ | 184,599 |
Income before tax (1) | $ | 5,405 |  |  | $ | 6,866 |  |  | $ | 11,082 |  |  | $ | 16,672 |
(1) For the three and nine months ended September 30, 2025, Sterling’s portion of income before tax includes $1,871 and $5,614, respectively of intangible asset amortization and $275 and $825, respectively of depreciation expense related to the basis difference in the fair value step up recognized in the deconsolidation of RHB on December 31, 2024.

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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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