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Redeemable Non-Controlling Interest

9 Months Ended

Sep. 30, 2023

Noncontrolling Interest [Abstract]

Redeemable Non-Controlling Interest

(11) Redeemable Non-Controlling Interest

Upon consummation of the Company's acquisition of Kumovis, existing shareholders of Kumovis retained a 6.25% ownership interest in Kumovis that the Company reports as RNCI due to put and call terms that could result in the Company redeeming this remaining ownership interest at a future date (see Note 2). The following table shows changes in the reported RNCI balance during the nine months ended September 30, 2023:

						Nine Months Ended September 30, 2023
(in thousands)
Balance at December 31, 2022						$	1,760
Net loss						(149)
Redemption value in excess of carrying value						321
Translation adjustments						(4)
Balance at September 30, 2023						$	1,928

The following table shows changes in the reported RNCI balance during the nine months ended September 30, 2022:

						Nine Months Ended September 30, 2022
(in thousands)
Balance at December 31, 2021						$	—
Fair value at the date of acquisition						1,559
Net Loss						(184)
Redemption value in excess of carrying value						462
Translation Adjustments						(183)
Balance at September 30, 2022						$	1,654

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
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//810/tableOfContent

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X

- References

No definition available.

+ Details

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