| Schedule of Redeemable Noncontrolling Interests |
From January 1, 2022 through September 30, 2022, we recorded adjustments to the value of our redeemable noncontrolling interests as shown below:
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|
Redeemable Noncontrolling Interests
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|
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(in thousands)
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2022
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Balance as of January 1, 2022
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$
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—
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|
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Effect of corporate reorganization and reclassification to redeemable noncontrolling interest
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|
|
382,050
|
|
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Adjustment of redeemable noncontrolling interest to redemption amount at IPO (1)
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1,438,348
|
|
|
Class A Common Stock issued to settle asset purchase
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|
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21,361
|
|
|
Net income after corporate reorganization
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|
|
16,082
|
|
|
Stock-based compensation
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|
|
660
|
|
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Stock-based compensation related to deemed contribution
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|
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27,597
|
|
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Accrued distribution related to income taxes
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|
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(15,644
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)
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|
Adjustment of redeemable noncontrolling interest to redemption amount (2)
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|
|
154,233
|
|
|
Balance as of June 30, 2022
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|
$
|
2,024,687
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Net income
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|
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110,183
|
|
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Stock-based compensation
|
|
|
1,465
|
|
|
Stock-based compensation related to deemed contribution
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|
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7,251
|
|
|
Foreign currency translation adjustments
|
|
|
110
|
|
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Change in accrued distribution related to income taxes
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|
|
(5,470
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)
|
|
Adjustment of redeemable noncontrolling interest to redemption amount (3)
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|
|
(493,800
|
)
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|
Balance as of September 30, 2022
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|
$
|
1,644,426
|
|
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(1)
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Based on 101,133,201 shares of Class B Common Stock outstanding and the $18.00 per share IPO price.
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(2)
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Based on 101,133,201 shares of Class B Common Stock outstanding and the 10-day VWAP of Class A Common Stock of $20.02 at June 30, 2022.
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(3)
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Based on 101,133,201 shares of Class B Common Stock outstanding and the 10-day VWAP of Class A Common Stock of $16.26 at September 30, 2022.
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