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Redeemable Noncontrolling Interests | 6 Months Ended
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Jun. 30, 2025
Noncontrolling Interest [Abstract] |
Redeemable Noncontrolling Interests | Redeemable Noncontrolling Interests In connection with the Company's previous acquisitions of New Video Channel America L.L.C (owner of the cable channel BBCA) and RLJ Entertainment, the terms of the acquisition agreements provide the noncontrolling members with a right to put all of their noncontrolling interest to subsidiaries of the Company at a future time, within ninety days following October 31, 2025, or earlier upon a change of control, in the case of RLJ Entertainment. Since the exercise of these put rights is outside the Company's control, the noncontrolling interest in each entity is presented as a redeemable noncontrolling interest outside of stockholders' equity on the Company's condensed consolidated balance sheets. On November 1, 2024, the Company acquired the remaining 50.1% of the BBC America joint-venture that it had not previously owned from BBC Studios for $42.0 million in cash. Since the Company retained the controlling financial interest, the transaction was accounted for as an equity transaction and therefore no gain or loss was recorded in the consolidated statements of income (loss). As a result, the carrying amount of the noncontrolling interest was reduced to zero, reflecting the Company's 100% ownership of the BBC America business, and the $90.9 million difference between this reduction and the $42.0 million purchase price was recognized in Paid-in capital on the condensed consolidated balance sheets. The amount recorded in Paid-in capital was partially offset by $21.5 million of deferred taxes reflecting the difference between the existing noncontrolling interest and the tax basis (amount paid) as of the acquisition date. The following tables summarize activity related to redeemable noncontrolling interests for the three and six months ended June 30, 2025 and 2024:
(In thousands) | Three Months Ended June 30, 2025
March 31, 2025 | $ | 61,076 |
Net earnings | 918 |
Adjustment to redemption fair value | (2,964) |
June 30, 2025 | $ | 59,030 |
(In thousands) | Three Months Ended June 30, 2024
March 31, 2024 | $ | 197,370 |
Net earnings (loss) | (10,953) |
Distributions | (9,159) |
Adjustment to redemption fair value | 2,807 |
June 30, 2024 | $ | 180,065 |
(In thousands) | Six Months Ended June 30, 2025
December 31, 2024 | $ | 55,881 |
Net earnings | 2,441 |
Adjustment to redemption fair value | 708 |
June 30, 2025 | $ | 59,030 |
(In thousands) | Six Months Ended June 30, 2024
December 31, 2023 | $ | 185,297 |
Net earnings (loss) | (433) |
Distributions | (10,327) |
Adjustment to redemption fair value | 5,528 |
June 30, 2024 | $ | 180,065 |

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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 -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent + Details
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- References No definition available. + Details
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