Business Combination

6 Months Ended

Jun. 30, 2022

The Company has a noncontrolling interest attributable to the 20% minority interest in GRBK GHO Homes, LLC (“GRBK GHO”) owned by our Florida-based partner that is included as redeemable noncontrolling interest in equity of consolidated subsidiary in the Company’s condensed consolidated financial statements.

The following tables show the changes in redeemable noncontrolling interest in equity of consolidated subsidiary during the three and six months ended June 30, 2022 and 2021 (in thousands):


	Three Months Ended June 30,
	2022		2021
Redeemable noncontrolling interest, beginning of period	$	22,179	$	15,701
Net income attributable to redeemable noncontrolling interest partner	822		742
Distributions of income to redeemable noncontrolling interest partner	—		(106)
Change in fair value of redeemable noncontrolling interest	(1,000)		1,178
Redeemable noncontrolling interest, end of period	$	22,001	$	17,515


	Six Months Ended June 30,
	2022		2021
Redeemable noncontrolling interest, beginning of period	$	21,867	$	13,543
Net income attributable to redeemable noncontrolling interest partner	1,691		1,071
Distributions of income to redeemable noncontrolling interest partner	—		(106)
Change in fair value of redeemable noncontrolling interest	(1,557)		3,007
Redeemable noncontrolling interest, end of period	$	22,001	$	17,515