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Noncontrolling Interests | 3 Months Ended
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Mar. 31, 2026
Noncontrolling Interest [Abstract] |
Noncontrolling Interests | Noncontrolling Interests Non-Redeemable Noncontrolling Interests Rook Shift4 Payments, Inc. is the sole managing member of Shift4 Payments, LLC and consolidates its financial results. The economic interest in Shift4 Payments, LLC held by Rook amounted to $385 million as of December 31, 2025 and was recorded as a non-redeemable noncontrolling interest. The following table summarizes the ownership of LLC Interests in Shift4 Payments, LLC:
| March 31, 2026 |  | December 31, 2025
| LLC Interests |  | Ownership % |  | LLC Interests |  | Ownership %
Shift4 Payments, Inc. | 79,328,812 |  |  | 100.0 | % |  | 64,790,146 |  |  | 76.6 | %
Rook | — |  |  | — | % |  | 19,801,028 |  |  | 23.4 | %
Total | 79,328,812 |  |  | 100.0 | % |  | 84,591,174 |  |  | 100.0 | %
In February 2026, pursuant to the Transaction Agreement, the following transactions occurred: (i) Rook effected a redemption and exchange of all of its equity common units in Shift4 Payments, LLC on a one-for-one basis for shares of Class A common stock and cancelled the corresponding shares of Class B common stock, (ii) Mr. Isaacman exchanged all of his shares of Class C common stock on a one-for-one basis for shares of Class A common stock, (iii) Rook assigned all of its rights and benefits under the TRA to the Company, and each of Rook and the Company waived any rights they may have to any tax benefit payments; and (iv) Mr. Isaacman agreed to the waiver by Rook of its rights under Section 4 of the Stockholders Agreement, dated June 4, 2020, among the Company, Rook, and Searchlight. Accordingly, the carrying value of Rook’s noncontrolling interest was reclassed to “Additional paid-in capital” on the Company’s unaudited Condensed Consolidated Balance Sheets. Global Blue The noncontrolling interests in certain subsidiaries of Global Blue Group Holding AG, a wholly-owned subsidiary of the Company, are accounted for as a non-redeemable noncontrolling interest, representing third-party ownership in entities where Global Blue maintains control but holds less than 100% equity interest. Profits, losses, and other comprehensive income are allocated to noncontrolling interests based on ownership percentages. Certain noncontrolling interest holders own put options to sell their ownership interests to Global Blue, treated as potential liabilities if exercisable. In addition, certain noncontrolling interest holders receive periodic distributions, included within “Distributions to noncontrolling interests” on the unaudited Condensed Consolidated Statements of Cash Flows. The following table summarizes the carrying values and minority ownership of each Global Blue subsidiary in which it holds less than 100% equity interest:
| March 31, 2026 |  |
| Noncontrolling Interests Carrying Value |  | Noncontrolling Ownership % |  |  |  |
Global Blue TPS Japan Co Ltd | $ | 117 |  |  | 49 | % |  |  |  |
Global Blue Lebanon SAL | — |  |  | 45 | % |  |  |  |
Global Blue Brasil TFS Ltda. | — |  |  | 40 | % |  |  |  |
Global Blue Touristik Hizmetler A.Ş. | 1 |  |  | 40 | % |  |  |  |
Global Blue Pazarlama Destek ve Teknoloji Hizmetleri A.Ş. | — |  |  | 40 | % |  |  |  |
Bahama’s VAT Refund Ltd | — |  |  | 20 | % |  |  |  |
Global Blue LLC | (1) |  |  | 40 | % |  |  |  |
Total | $ | 117 |  |  |  |  |  |  |
For the three months ended March 31, 2026, net income attributable to the Global Blue noncontrolling interests amounted to $2 million, and there were no distributions. Redeemable Noncontrolling Interests In June 2024, the Company acquired a majority stake in Vectron Systems AG (“Vectron”), a German corporation providing POS systems, POS software, and digital and cloud-based services worldwide. The Company consolidates 100% of Vectron’s assets, liabilities, revenues and expenses. In June 2025, Arrow HoldCo GmbH (“Arrow HoldCo”), a wholly owned indirect subsidiary of the Company, and Vectron entered into a domination and profit and loss transfer agreement (“DPLTA”), with Arrow HoldCo as the controlling company and Vectron as the controlled company. As of March 31, 2026, the Company owned approximately 91% of Vectron’s common stock. The 9% economic interest in Vectron not held by the Company amounted to $10 million as of both March 31, 2026 and December 31, 2025. The redeemable noncontrolling interest was calculated as the redemption amount of the shares not owned by the Company as of each date, plus accrued dividends payable. Under the DPLTA, each minority shareholder of Vectron was granted the right to tender their shares for a cash redemption payment of €10.93 per share at any time. As this redemption right is outside the control of the Company, the related noncontrolling interest is classified as “Redeemable noncontrolling interests”, which is presented in the mezzanine section of the unaudited Condensed Consolidated Balance Sheets between liabilities and equity. The redeemable noncontrolling interest is measured at the greater of the redemption value or adjusted carrying amount, and is subject to foreign currency translation adjustments and periodic accretion to its redemption amount. In addition, the DPLTA entitles minority shareholders who do not redeem their shares to receive an annual guaranteed dividend of €0.47 per share. This fixed, non-discretionary payment qualifies as a participating security preference and is treated as a reduction to net income attributable to common stockholders. Although the dividend is legally paid on an annual basis, this obligation is required to be accrued on a straight-line basis beginning on the registration date. There were no material changes to the Company’s redeemable noncontrolling interests during the three months ended March 31, 2026.

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + 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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