XML 32 R23.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Noncontrolling Interest | 3 Months Ended
--- | ---
Mar. 31, 2022
Noncontrolling Interest [Abstract] |
Noncontrolling Interest | (16) Noncontrolling Interest As a result of the transactions described in Note 3, Continuing Inspirato Members own 70 million New Common Units, which represent a 58.8% economic interest in Inspirato LLC and 70 million shares of Class V Common Stock of Inspirato Incorporated. The combination of one New Common Unit and one share of Class V Common Stock of Inspirato Incorporated may be redeemed no earlier than six months after the Business Combination at the option of the Continuing Inspirato Members for one share of Class A Common Stock of Inspirato Incorporated or the cash equivalent thereof (based on the market price of the Class A Common Stock at the time of redemption) as determined by Inspirato Incorporated. If Inspirato Incorporated elects the redemption to be settled in cash, the cash used to settle the redemption must be funded through a private or public offering of Class A Common Stock no later than five business days after the redemption notice date. Upon the redemption of the New Common Unit and Class V Common Stock for Class A Common Stock or the equivalent thereof, all redeemed Class V Common Stock will be cancelled and such New Common Unit will be transferred to Inspirato Incorporated. Inspirato Incorporated will also be issued a New Common Unit to correspond with each new share of Class A Common Stock it issues. As of March 31, 2022, Inspirato Incorporated owned 41.2% of the outstanding New Common Units. The financial results of Inspirato LLC and its subsidiaries were consolidated with and into Inspirato Incorporated, and 58.8% of the consolidated net loss of Inspirato LLC, during the period of February 11, 2022 through March 31, 2022, were allocated to the noncontrolling interests of Inspirato LLC. The following table summarizes the changes in ownership of Inspirato LLC for the period beginning February 11, 2022 and ending March 31, 2022 (see Note 3) excluding unvested profits interests. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | New Common Units
​ |  | Inspirato Incorporated |  | Continuing Inspirato Members |  | Total
​ | ​ | (in thousands)
Beginning of period |  | ​ |  | ​ |  | 2,883
Recapitalization |  | 46,832 |  | 66,945 |  | 113,777
End of period |  | 46,832 |  | 66,945 |  | 113,777
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | New Common Units |
​ |  | Inspirato Incorporated |  | Continuing Inspirato Members |  | Total |
Beginning of period |  | ​ | ​ | ​ | ​ | 100.0 | %
Recapitalization |  | 41.2 | % | 58.8 | % | 100.0 | %
End of period |  | 41.2 | % | 58.8 | % | 100.0 | %
​

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 http://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