Redeemable Non-Controlling Interests

12 Months Ended

Jan. 31, 2022

In March 2021, the Company established a joint venture with Japan Cloud Computing L.P. and M30 LLC (the “Investors”) in Japan (“Coupa K.K.”), which is a variable interest entity. This joint venture is intended to enable the Company to support the growing number of Japanese companies looking to gain greater efficiency and agility through BSM. On March 15, 2021, the Company initially contributed approximately $2.4 million in cash in exchange for a 51% controlling interest, and the Investors initially contributed approximately $2.2 million. Accordingly, the Company consolidated the financial results of the joint venture. The share of the loss in the joint venture attributable to the redeemable non-controlling interests was approximately $1.1 million during the year ended January 31, 2022.

The following table summarizes the activity in the redeemable non-controlling interest for the period indicated below (in thousands):


	January 31,
	2022
Balance at beginning of period	$	—
Investment by redeemable non-controlling interests	2,223
Net loss attributable to redeemable non-controlling interests	(1,063)
Foreign currency translation adjustments, net of tax	(72)
Adjustment to redeemable non-controlling interest	10,996
Balance at end of period	$	12,084