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Redeemable Noncontrolling Interest | 9 Months Ended
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Mar. 31, 2022
Noncontrolling Interest [Abstract] |
Redeemable Noncontrolling Interest | 14. Redeemable Noncontrolling Interest Prior to the third quarter of fiscal year 2022, Adtalem maintained a 71% ownership interest in EduPristine with the remaining 29% owned by Kaizen Management Advisors (“Kaizen”), an India-based private equity firm. Beginning on March 26, 2020, Adtalem has had the right to exercise a call option and purchase any remaining EduPristine stock from Kaizen. Likewise, Kaizen has had the right to exercise a put option and sell up to 33% of its remaining ownership interest in EduPristine to Adtalem. Beginning on March 26, 2022, Kaizen has had the right to exercise a put option and sell its remaining ownership interest in EduPristine to Adtalem. During the third quarter of fiscal year 2022, Adtalem purchased the remaining ownership interest in EduPristine from Kaizen for $1.8 million, resulting in Adtalem owning 100% of EduPristine as of March 31, 2022. The following table shows the changes in redeemable noncontrolling interest balance (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | March 31, | ​ | March 31,
​ | ​ | 2022 | ​ | 2021 | ​ | 2022 | ​ | 2021
Balance at beginning of period | ​ | $ | 1,790 | ​ | $ | 2,595 | ​ | $ | 1,790 | ​ | $ | 2,852
Net loss attributable to redeemable noncontrolling interest | ​ |  | — | ​ |  | (102) | ​ |  | — | ​ |  | (359)
Payment for purchase of redeemable noncontrolling interest of subsidiary | ​ | ​ | (1,790) | ​ | ​ | — | ​ | ​ | (1,790) | ​ | ​ | —
Balance at end of period | ​ | $ | — | ​ | $ | 2,493 | ​ | $ | — | ​ | $ | 2,493
​

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 + Details
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- References No definition available. + Details
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