Business Combination

9 Months Ended

Sep. 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 nine months ended September 30, 2022 and 2021 (in thousands):


	Three Months Ended September 30,
	2022		2021
Redeemable noncontrolling interest, beginning of period	$	22,001	$	17,515
Net income attributable to redeemable noncontrolling interest partner	1,654		623
Distributions of income to redeemable noncontrolling interest partner	—		—
Change in fair value of redeemable noncontrolling interest	2,005		(732)
Redeemable noncontrolling interest, end of period	$	25,660	$	17,406


	Nine Months Ended September 30,
	2022		2021
Redeemable noncontrolling interest, beginning of period	$	21,867	$	13,543
Net income attributable to redeemable noncontrolling interest partner	3,345		1,694
Distributions of income to redeemable noncontrolling interest partner	—		(106)
Change in fair value of redeemable noncontrolling interest	448		2,275
Redeemable noncontrolling interest, end of period	$	25,660	$	17,406