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Noncontrolling Interests in Subsidiaries
12 Months Ended
Dec. 31, 2021
Noncontrolling Interest [Abstract]  
Noncontrolling Interests in Subsidiaries

14.

NONCONTROLLING INTERESTS IN SUBSIDIARIES

Noncontrolling interests in the Company’s consolidated subsidiaries as of December 31 were as follows (in thousands):

 

 

Noncontrolling

Interests

 

 

2021

 

 

2020

 

VEESEA Holdings Inc.

 

 

1.8

%

 

 

320

 

 

 

319

 

 

Falcon Global Holdings. Prior to March 20, 2020, the Company held 72% of the equity interest in Falcon Global Holdings. On March 20, 2020, the Company completed the acquisition of the remaining 28% minority interest in Falcon Global Holdings, resulting in the Company’s 100% ownership of Falcon Global Holdings. Consideration paid by the Company was 900,000 shares of Common Stock issued in a private placement to the seller of the minority interest, Montco Offshore LLC. Prior to the acquisition of the remaining noncontrolling interest in Falcon Global Holdings the net loss attributable to Falcon Global Holdings was $16.6 million, of which $4.6 million was attributable to noncontrolling interest.