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Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2023
Accounting Policies [Abstract]  
Summary of Impact of Revision to Specific Line Items in Condensed Consolidated Balance Sheets, Statements of (Loss) Income, Comprehensive Loss and Condensed Consolidated Statement of Changes in Equity

The following table reflects the impact of the revision to the specific line items presented in the Company’s previously reported Condensed Consolidated Balance Sheet and the Condensed Consolidated Statement of Changes in Equity as of December 31, 2022:

 

 

 

December 31, 2022

 

(In thousands)

 

As Reported

 

 

Adjustment

 

 

As Revised

 

Accumulated Other Comprehensive Income

 

$

46,713

 

 

$

(20,587

)

 

$

26,126

 

Non-Controlling Interest

 

$

309,072

 

 

$

20,587

 

 

$

329,659

 

Total Equity

 

$

1,303,613

 

 

$

—

 

 

$

1,303,613

 

The following table reflects the impact of the restatement to the specific line items presented in the Company’s previously reported Condensed Consolidated Statements of (Loss) Income and the previously reported Condensed Consolidated Statements of Comprehensive Loss for the three and six months ended June 30, 2023:

 

 

 

For the Three Months Ended June 30, 2023

 

 

For the Six Months Ended June 30, 2023

 

(In thousands)

 

As Reported

 

 

Adjustment

 

 

As Restated

 

 

As Reported

 

 

Adjustment

 

 

As Restated

 

Net Income attributable to non-controlling interest

 

$

(2,881

)

 

$

5,763

 

 

$

2,882

 

 

$

(8,870

)

 

$

11,382

 

 

$

2,512

 

Net Loss attributable to ADTRAN Holdings, Inc.

 

$

(33,334

)

 

$

(5,763

)

 

$

(39,097

)

 

$

(67,798

)

 

$

(11,382

)

 

$

(79,180

)

Loss per common share attributable to ADTRAN Holdings, Inc. – basic

 

$

(0.43

)

 

$

(0.07

)

 

$

(0.50

)

 

$

(0.87

)

 

$

(0.14

)

 

$

(1.01

)

Loss per common share attributable to ADTRAN Holdings, Inc. – diluted

 

$

(0.43

)

 

$

(0.07

)

 

$

(0.50

)

 

$

(0.87

)

 

$

(0.14

)

 

$

(1.01

)

Comprehensive Income attributable to non-controlling interest

 

$

—

 

 

$

2,882

 

 

$

2,882

 

 

$

244

 

 

$

2,650

 

 

$

2,894

 

Comprehensive Loss attributable to ADTRAN Holdings, Inc., net of tax

 

$

(29,258

)

 

$

(2,882

)

 

$

(32,140

)

 

$

(61,173

)

 

$

(2,650

)

 

$

(63,823

)

The following table reflects the impact of the restatement, in addition to the revision of the December 31, 2022 balances referenced above, to the specific line items presented in the Company’s previously reported Condensed Consolidated Balance Sheets as of June 30, 2023 and the Condensed Consolidated Statement of Changes in Equity for the period ended June 30, 2023:

 

 

 

June 30, 2023

 

(In thousands)

 

As Reported

 

 

Adjustment

 

 

As Restated

 

Additional Paid-in Capital

 

$

766,428

 

 

$

20,725

 

 

$

787,153

 

Accumulated Other Comprehensive Income

 

$

62,208

 

 

$

(20,725

)

 

$

41,483

 

Total Equity

 

$

782,470

 

 

$

—

 

 

$

782,470