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Redeemable Non-controlling Interest | 3 Months Ended
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Mar. 31, 2024
Redeemable Noncontrolling Interest, Equity, Carrying Amount [Abstract] |
Redeemable Non-controlling Interest | 14. REDEEMABLE NON-CONTROLLING INTEREST As of March 31, 2024, the non-controlling Adtran Networks stockholders’ equity ownership percentage in Adtran Networks was approximately 35%. The following table summarizes the redeemable non-controlling interest activity for the three months ended March 31, 2024 and for the year ended December 31, 2023:
|  | Three Months Ended |  |  | For the Year Ended |
(In thousands) |  | March 31, 2024 |  |  | December 31, 2023 |
Balance at beginning of period |  | $ | 451,756 |  |  | $ | — |
Reclassification of non-controlling interests |  |  | — |  |  |  | 443,757 |
Fair value on redemption of redeemable non-controlling interest |  |  | (6 | ) |  |  | (1,657 | )
Net income attributable to redeemable non-controlling interests |  |  | 2,880 |  |  |  | 11,525 |
Annual recurring compensation earned |  |  | (2,880 | ) |  |  | (11,525 | )
Adtran Networks stock option exercises |  |  | — |  |  |  | 52 |
Translation adjustment |  |  | (10,115 | ) |  |  | 9,604 |
Balance at end of period |  | $ | 441,635 |  |  | $ | 451,756 |
Annual recurring compensation payable on untendered outstanding shares under the DPLTA must be recognized as it is accrued. For the three months ended March 31, 2024, we have recognized $2.9 million, 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 2025. For the year ended December 31, 2023, we have recognized $11.5 million 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 for additional information on RNCI and the annual dividend.

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