Noncontrolling and Redeemable Noncontrolling Interests (Tables)

9 Months Ended

Sep. 30, 2023

Noncontrolling Interest [Abstract]

Noncontrolling Interest

The following table presents Net income (loss) attributable to noncontrolling and redeemable noncontrolling interests between holders of Class C common stock, par value $0.00001 per share (the “Class C Common Stock”) and other equity interest holders for the three and nine months ended September 30, 2023 and 2022:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(dollars in thousands)
Net income (loss) attributable to Class C shareholders	$	33	$	19,286	$	(7,684)	$	51,027
Net income attributable to other equity interest holders	1,001		2,287		1,221		4,083
Net income (loss) attributable to noncontrolling interests	$	1,034	$	21,573	$	(6,463)	$	55,110
Net income (loss) attributable to redeemable noncontrolling interests	1,430		3,092		(2,085)		4,558
Net income (loss) attributable to noncontrolling and redeemable noncontrolling interests	$	2,464	$	24,665	$	(8,548)	$	59,668

The following table presents noncontrolling interests between holders of Class C Common Stock and other equity interest holders as of September 30, 2023 and December 31, 2022:

	September 30, 2023		December 31, 2022
	(dollars in thousands)
Noncontrolling interest of Class C shareholders	$	393,763	$	428,406
Noncontrolling interest of other equity interest holders	29,674		33,691
Total noncontrolling interests	$	423,437	$	462,097

Redeemable Noncontrolling Interest

The following table presents changes in redeemable noncontrolling interests:

	September 30, 2023		December 31, 2022
	(dollars in thousands)
Beginning balance	$	39,111	$	43,364
Redemptions (1)	(22,172)		(1,400)
Distributions	(5,374)		(2,822)
Changes in redemption value	621		(8,711)
Net income (loss) attributable to redeemable noncontrolling interests	(2,085)		8,135
Other	(16)		545
Ending balance	$	10,085	$	39,111

(1) Redemptions for the nine months ended September 30, 2023, is associated with redeemable noncontrolling interest of a certain brand we did not previously own. The amount was reclassified as a deferred acquisition contingent obligation (see Note 5).