XML 37 R25.htm IDEA: XBRL DOCUMENT
v3.23.1

Redeemable Noncontrolling Interests | 3 Months Ended
--- | ---
Mar. 31, 2023
Noncontrolling Interest [Abstract] |
Redeemable Noncontrolling Interests | Redeemable Noncontrolling Interests Redeemable noncontrolling interests represent third-party investments in the Company's CIP and minority interests held in a consolidated affiliate. Minority interests held in the affiliate are subject to holder put rights and Company call rights at established multiples of earnings before interest, taxes, depreciation and amortization and, as such, are considered redeemable at other than fair value. The rights are exercisable at pre-established intervals (between four and seven years from their issuance) or upon certain conditions, such as retirement. The put and call rights are not legally detachable or separately exercisable and are deemed to be embedded in the related noncontrolling interests. The Company, in purchasing affiliate equity, has the option to settle in cash or shares of the Company's common stock and is entitled to the cash flow associated with any purchased equity. Minority interests in an affiliate are recorded at estimated redemption value within redeemable noncontrolling interests on the Company's Condensed Consolidated Balance Sheets, and any changes in the estimated redemption value are recorded on the Condensed Consolidated Statements of Operations within noncontrolling interests. Redeemable noncontrolling interests for the three months ended March 31, 2023 included the following amounts:
(in thousands) |  | CIP |  | Affiliate Noncontrolling Interests |  | Total
Balances at December 31, 2022 |  | $ | 18,268 |  |  | $ | 95,450 |  |  | $ | 113,718 |
Net income (loss) attributable to noncontrolling interests |  | 647 |  |  | 1,666 |  |  | 2,313 |
Changes in redemption value (1) |  | — |  |  | (7,059) |  |  | (7,059) |
Total net income (loss) attributable to noncontrolling interests |  | 647 |  |  | (5,393) |  |  | (4,746) |
Affiliate equity sales (purchases) |  | — |  |  | — |  |  | — |
Net subscriptions (redemptions) and other |  | (496) |  |  | (1,846) |  |  | (2,342) |
Balances at March 31, 2023 |  | $ | 18,419 |  |  | $ | 88,211 |  |  | $ | 106,630 |
(1) Relates to noncontrolling interests redeemable at other than fair value.

X
- 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 https://asc.fasb.org/topic&trid=2197479 + Details
Name: | us-gaap_MinorityInterestDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_NoncontrollingInterestAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration