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Redeemable Non-controlling Interest

9 Months Ended

Sep. 30, 2022

Noncontrolling Interest [Abstract]

Redeemable Non-controlling Interest

(17) Redeemable Non-controlling Interest

In connection with the acquisition of 93.75% of Kumovis on April 1, 2022, as discussed in Notes 1 and 2, the Company recorded a RNCI. The RNCI represents non-controlling shareholders’ interest in Kumovis, which is controlled, but not wholly owned by, 3D Systems, and for which 3D Systems’ obligation to redeem the minority shareholders’ interest is governed by a put/call relationship. Subsequent to the initial measurement at fair value, the RNCI is recorded at the greater of its redemption value or its carrying value at the end of each reporting period. If the RNCI is carried at its redemption value, the difference between the redemption value and the carrying value is adjusted at the end of each reporting period through additional paid-in capital. The Company also performs a quarterly assessment to determine if the aforementioned redemption value exceeds the fair value of the RNCI. If the redemption value of the RNCI exceeds its fair value, the excess will reduce the net income attributable to 3D Systems shareholders.

The following table shows changes in the RNCI related to the acquisition of Kumovis:

						Nine Months Ended September 30,
(in thousands)						2022
Balance at January 1, 2022						$	—
Fair value at the date of acquisition (1)						1,559
Net loss						(184)
Redemption value in excess of carrying value						462
Translation adjustments						(183)
Balance at September 30, 2022						$	1,654

(1) Fair value as of the date of acquisition is an estimate. The fair value of the RNCI is currently being determined as part of the business combination accounting.

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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 https://asc.fasb.org/topic&trid=2197479

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- References

No definition available.

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