XML 38 R27.htm IDEA: XBRL DOCUMENT v3.23.1
Noncontrolling interests (Tables)
9 Months Ended
Mar. 31, 2023
Noncontrolling Interest [Line Items]  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Table Text Block]
The following table presents the reconciliation of changes in our noncontrolling interests:
Redeemable Noncontrolling InterestNoncontrolling Interest
Balance as of June 30, 2022$131,483 $— 
Acquisition of noncontrolling interest (1)— 365 
Net income attributable to noncontrolling interests1,513 163 
Distribution to noncontrolling interests (2)(3,652)— 
Purchase of noncontrolling interest (3)(95,567)— 
Accretion to redemption value (4)(7,455)— 
Reclassification to mandatorily redeemable noncontrolling interest (5)(9,582)— 
Foreign currency translation(4,766)14 
Balance as of March 31, 2023$11,974 $542 
_________________
(1) During the second quarter of fiscal year 2023, we acquired a majority equity interest in an immaterial business within our PrintBrothers reportable segment.
(2) Distributions to noncontrolling interests include contractually required profit sharing payments made annually to the minority interest holders in one of the PrintBrothers businesses.
(3) As discussed above, we purchased an additional 10% to 11% of the equity interests in three PrintBrothers businesses during the second quarter of fiscal year 2023, as well as the 1% minority interest in our BuildASign business.
(4) Accretion of redeemable noncontrolling interests to redemption value recognized in retained earnings is the result of changes in the estimated redemption amount to the extent increases do not exceed the estimated fair value.
(5) During the second quarter of fiscal year 2023, the minority equity interest holders of three PrintBrothers businesses exercised a put option that triggered a mandatory redemption feature for the remaining minority equity interests. The remaining minority equity interests were reclassified to mandatorily redeemable noncontrolling interests, as part of other liabilities within the consolidated balance sheets. Refer above for additional information regarding the transaction and Note 7 for additional details about the reclassified liability balance.