EQUITY

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

EQUITY

EQUITY

The Continuing LLC Members have the right to exchange one Holdco Unit and one share of Class B common stock or Class C common stock, as applicable, together for cash or one share of Class A common stock at the Company’s election, subject to customary conversion rate adjustments for stock splits, stock dividends, and reclassifications. The Company consolidates the financial results of LD Holdings and reports noncontrolling interest related to the interests held by the Continuing LLC Members.

The noncontrolling interest of $0.6 billion and $1.1 billion as of September 30, 2022 and December 31, 2021, respectively, represented the economic interest in LD Holdings held by the Continuing LLC Members. As Continuing LLC Members convert shares, noncontrolling interest is adjusted to proportionately reduce the economic interest in LD Holdings with an offset to additional paid-in-capital on the consolidated statements of equity. The following table summarizes the ownership of LD Holdings as of September 30, 2022.

Holding Member Interests:	Holdco Units	Ownership Percentage
loanDepot, Inc.	165,002,738	52.53%
Continuing LLC Members	149,130,538	47.47%
Total	314,133,276	100.00%