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NONCONTROLLING INTERESTS AND VARIABLE INTEREST ENTITIES (VIEs) (Tables) | 9 Months Ended
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Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Equity Method Investments | The following table is a rollforward of activities related to the Company’s unconsolidated entity (in thousands):
| 2024 |  | 2023
Balance at January 1 | $ | 1,647 |  |  | $ | — |
Loss from unconsolidated entity | (1,486) |  |  | — |
Balance at March 31 | 161 |  |  | — |
Loss from unconsolidated entity | (1,415) |  |  | — |
Equity deficit applied to note (1) | 1,254 |  |  | — |
Balance at June 30 | — |  |  | — |
Loss from unconsolidated entity | (1,676) |  |  | — |
Equity deficit applied to note (1) | 1,676 |  |  | — |
Balance at September 30 | $ | — |  |  | $ | — |
(1) As the Company is not required to advance additional funds to Linq, excess losses beyond its initial investment have been recorded against the basis of its other investments in Linq, which is comprised of the loan receivable for amounts borrowed under the Wabash Note.
Schedule of Variable Interest Entities | The following table presents the assets and liabilities of the WP VIE consolidated on the Company’s Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (in thousands):
| September 30, 2024 |  | December 31, 2023
Assets |  |  |
Current assets: |  |  |
Cash and cash equivalents | $ | 3,358 |  |  | $ | 3,020 |
Accounts receivable, net | 2,973 |  |  | 1,540 |
Inventories, net | 19 |  |  | 85 |
Prepaid expenses and other | 57 |  |  | 68 |
Total current assets | 6,407 |  |  | 4,713 |
Property, plant, and equipment, net | — |  |  | — |
Other assets | 363 |  |  | 543 |
Total assets | $ | 6,770 |  |  | $ | 5,256 |
Liabilities |  |  |
Current liabilities: |  |  |
Accounts payable | $ | 5,428 |  |  | $ | 4,024 |
Other accrued liabilities | 24 |  |  | 26 |
Total current liabilities | 5,452 |  |  | 4,050 |
Other non-current liabilities | — |  |  | — |
Total liabilities | $ | 5,452 |  |  | $ | 4,050 |
Schedule Of Noncontrolling Interest Activity | The following table is a rollforward of activities in the Company’s noncontrolling interest (in thousands):
| 2024 |  | 2023
Balance at January 1 | $ | 603 |  |  | $ | 512 |
Net income attributable to noncontrolling interest | 120 |  |  | 183 |
Other comprehensive income (loss) | — |  |  | — |
Distributions paid to noncontrolling interest | (603) |  |  | — |
Balance at March 31 | 120 |  |  | 695 |
Net income attributable to noncontrolling interest | 246 |  |  | 146 |
Other comprehensive income (loss) | — |  |  | — |
Distributions declared to noncontrolling interest | — |  |  | (512) |
Balance at June 30 | 366 |  |  | 329 |
Net income attributable to noncontrolling interest | 293 |  |  | 152 |
Other comprehensive income (loss) | — |  |  | — |
Distributions declared to noncontrolling interest | — |  |  | — |
Balance at September 30 | $ | 659 |  |  | $ | 481 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 + Details
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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-5A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-9 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-6 + Details
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