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Redeemable Non-controlling Interest | 9 Months Ended
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Sep. 30, 2023
Redeemable Noncontrolling Interest, Equity, Carrying Amount [Abstract] |
Redeemable Non-controlling Interest | 16. REDEEMABLE NON-CONTROLLING INTEREST The following table summarizes the redeemable non-controlling interest activity for the nine months ended September 30, 2023:
|  | Nine Months Ended |
(In thousands) |  | September 30, 2023 |
Balance at beginning of period |  | $ | — |
Reclassification of non-controlling interests |  |  | 443,757 |
Redemption of redeemable non-controlling interest |  |  | (1,558 | )
Net income attributable to redeemable non-controlling interests |  |  | 8,605 |
Annual recurring compensation earned |  |  | (8,605 | )
Translation adjustment |  |  | (10,291 | )
Adtran Networks stock option exercises |  |  | 13 |
Balance as of September 30, 2023 |  | $ | 431,921 |
Annual recurring compensation payable on untendered outstanding shares under the DPLTA must be recognized as it is accrued. For the three and nine months ended September 30, 2023, we have recognized $2.9 million and $8.6 million, respectively, representing the portion of the annual recurring cash compensation to the non-controlling shareholders accrued during such periods, which will be paid after the ordinary general shareholders' meeting of Adtran Networks beginning in 2024. See Note 1 and Note 20 for additional information on RNCI and the annual dividend.

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