Redeemable Noncontrolling Interest (Notes)

3 Months Ended

Mar. 31, 2020

Business Combination, Step Acquisition [Abstract]

Redeemable Noncontrolling Interest

NOTE 9. REDEEMABLE NONCONTROLLING INTEREST

Redeemable noncontrolling interest is interest in subsidiaries that is redeemable outside of our control either for cash or other assets. These interests are classified as mezzanine equity and measured at the greater of estimated redemption value or carrying value at the end of each reporting period. Net income (loss) attributed to noncontrolling interest is recorded in the Consolidated Statements of Income. Any adjustments to the redemption value of redeemable noncontrolling interest are recognized in either net income or through accumulated paid-in capital, depending on the nature of the underlying security (preferred or common units).

The balance of the redeemable noncontrolling interest was $10 million as of March 31, 2020, and December 31, 2019.