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Noncontrolling and Redeemable Noncontrolling Interests (Tables)
 3 Months Ended
Mar. 31, 2025
Noncontrolling Interest [Abstract]  
Noncontrolling Interest
The following table presents Net income (loss) attributable to noncontrolling and redeemable noncontrolling interests between Class C shareholders and other equity interest holders for the three months ended March 31:
20252024
(dollars in thousands)
Net loss attributable to Class C shareholders$(6,637)$(1,047)
Net income attributable to other equity interest holders
2 823 
Net loss attributable to noncontrolling interests$(6,635)$(224)
Net income attributable to redeemable noncontrolling interests4,227 793 
Net income (loss) attributable to noncontrolling and redeemable noncontrolling interests$(2,408)$569 
The following table presents noncontrolling interests between Class C shareholders and other equity interest holders as of March 31, 2025 and December 31, 2024:
March 31, 2025December 31, 2024
(dollars in thousands)
Noncontrolling interest of Class C shareholders$423,996 $423,428 
Noncontrolling interest of other equity interest holders (1)
21,497 21,746 
Total noncontrolling interests$445,493 $445,174 
(1) In January 2024, the Company entered into an agreement to purchase the remaining noncontrolling ownership interest in a subsidiary it previously controlled, the consideration for which was a portion of the subsidiary that was transferred to the
noncontrolling interest owner. The non-cash purchase resulted in a reduction of the subsidiary noncontrolling interest by approximately $10.2 million.
Redeemable Noncontrolling Interest
The following table presents changes in redeemable noncontrolling interests for the three months ended March 31, 2025 and year ended December 31, 2024:
March 31, 2025December 31, 2024
(dollars in thousands)
Beginning balance$8,412 $10,792 
Redemptions (1)
— (17,039)
Additions
— 1,127 
Distributions— (2,880)
Changes in redemption value (2)
(1,681)13,363 
Net income attributable to redeemable noncontrolling interests4,227 3,005 
Currency translation adjustment(102)44 
Ending balance$10,856 $8,412 
(1) Redemptions for the year ended December 31, 2024 was 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 6).

(2) Changes in redemption value are the fair value changes from the acquisition date redemption value based on the options held by the minority interest holders, adjusted through Retained earnings.