NONCONTROLLING INTEREST

6 Months Ended

Oct. 31, 2024

12. NONCONTROLLING INTEREST

Immersion is the primary beneficiary of Barnes & Noble Education and as a result, consolidates the financial results of Barnes & Noble Education and reports a noncontrolling interest representing BNED Common Stock held by other Barnes & Noble Education’s stockholders. Changes in Immersion’s ownership interest in Barnes & Noble Education while Immersion retains its controlling interest in Barnes & Noble Education are accounted for as equity transactions.

The following table summarizes the ownership interest in Barnes & Noble Education:

	October 31, 2024
	Shares Owned	% of Ownership
Number of Barnes & Noble Education Common Stock held by Immersion	11,006,701	40.30	%
Number of Barnes & Noble Education Common Stock held by noncontrolling interest	16,279,830	59.70	%
Total Barnes & Noble Education common stock outstanding	27,286,531	100.0	%

The weighted average ownership percentages for the applicable reporting periods are used to attribute net income to the non-controlling interest holders and were as follows:

	One Month Ended July 31, 2024					Three Month Ended October 31, 2024				From June 10, 2024 to October 31, 2024
Non-controlling interest holders' weighted average ownership percentages		58.0				58.6				58.2

The following table summarizes the effect of changes in ownership of Barnes & Noble Education on the Company’s equity for the periods presented (in thousands):

		One Month Ended July 31, 2024			Three Month Ended October 31, 2024			From June 10, 2024 to October 31, 2024
Net Income (loss) attributable to Immersion	$	(4,891	)	$	20,171		$	9,480
Transfers from (to) non-controlling interests:
Increase (decrease) in additional paid-in capital as a result of common stock issuances pursuant to vesting of equity awards, and sales of common stock	$	—		$	(42	)	$	56,410
Total effect of changes in ownership interest on equity attributable to Immersion stockholders	$	(4,891	)	$	20,129		$	65,890