Redeemable Non-Controlling Interests

9 Months Ended

Sep. 30, 2021

The ownership interests held by outside parties in subsidiaries, which include limited liability companies and limited partnerships, controlled by the Company are classified as non-controlling interests. Some of the Company’s non-controlling ownership interests consist of outside parties that have certain redemption rights that, if exercised, require the Company to purchase the parties’ ownership interests. These interests are classified and reported as redeemable non-controlling interests and have been adjusted to their approximate redemption values, after the attribution of net income or loss.

The Company’s redeemable non-controlling interests are comprised primarily of the voting membership interests owned by outside members of Concentra Group Holdings Parent, each of which have put rights with respect to their interests in Concentra Group Holdings Parent.

The changes in redeemable non-controlling interests were as follows:


	Nine Months Ended September 30,
	2020		2021
	(in thousands)
Balance as of January 1	$	974,541	$	398,171
Net income attributable to redeemable non-controlling interests	7,256		9,626

Distributions to and purchases of redeemable non-controlling interests	(5,687)		(614)
Purchase of membership interests of Concentra Group Holdings Parent	(366,203)		—
Redemption value adjustment on redeemable non-controlling interests	10,123		38,405
Other	347		343
Balance as of March 31	$	620,377	$	445,931
Net income attributable to redeemable non-controlling interests	3,264		18,073
Distributions to and purchases of redeemable non-controlling interests	(30)		(1,987)
Redemption value adjustment on redeemable non-controlling interests	(127,916)		59,370
Other	292		165
Balance as of June 30	$	495,987	$	521,552
Net income attributable to redeemable non-controlling interests	17,328		12,580
Distributions to and purchases of redeemable non-controlling interests	(4,171)		(2,967)
Redemption value adjustment on redeemable non-controlling interests	32,555		96,000
Other	157		165
Balance as of September 30	$	541,856	$	627,330