Redeemable Noncontrolling Interests (Tables)

9 Months Ended

Sep. 30, 2022

Income Amounts Attributable To Noncontrolling Interest Disclosures [Abstract]

The following table presents the changes in redeemable noncontrolling interests for the periods presented (in thousands):

	Three Months Ended September 30, 2022			Nine Months Ended September 30, 2022

Balance at beginning of period	$	26,749		$	—
Redeemable noncontrolling interests in iDisplay estimated at fair value at Closing Date		—			17,522
Net income attributable to redeemable noncontrolling interests		157			19
Other comprehensive loss attributable to redeemable noncontrolling interests		(314	)		(589	)
Dividend paid to the redeemable noncontrolling interests		(1,305	)		(1,305	)
Change in redemption value of redeemable noncontrolling interests ⁽¹⁾		2,690			12,330
Balance at end of period ⁽²⁾	$	27,977		$	27,977

(1)

These amounts represent a $2.7 million and $12.3 million increase in redemption value over the carrying value for the three and nine months ended September 30, 2022 respectively. These amounts were recorded as an offset to retained earnings and increased the net loss used in the calculation of net loss per share attributable for these periods.

(2)

The redeemable noncontrolling interests balance at September 30, 2022 included the amount that would be paid to the noncontrolling interests holder if they exercise their put option (calculated based on multiples of iDisplay’s historical TTM EBITDA less any debt), and the accrual for dividends based on the Shareholders Agreement.