Redeemable Non-Controlling Interests
|12 Months Ended
Dec. 31, 2022
|Stockholders' Equity Attributable to Parent [Abstract]
|Redeemable Non-Controlling Interests
|REDEEMABLE NON-CONTROLLING INTERESTS Our subsidiaries with membership interests in the investment funds we formed have the right to elect to require the non-controlling interest holder to sell all of its membership units to our subsidiaries, a call option. Our investment funds also include
rights for the non-controlling interest holder to elect to require our subsidiaries to purchase all of the non-controlling membership interests in the fund, a put option.
The following table sets forth information about the call and put options for our investment funds outstanding as of December 31, 2022:
The call options are exercisable beginning on the date that specified conditions are met for each respective fund. The following table presents our call option exercised during the:
We reclassified the remaining redeemable non-controlling interest balance to paid-in capital to reflect the additional contribution from us to our wholly-owned subsidiaries.
Because the put options represent redemption features that are not solely within our control, the non-controlling interests in these funds are presented outside of permanent equity. Redeemable non-controlling interests are reported using the greater of their carrying value (which is impacted by attribution under the HLBV method) or their estimated redemption value at each reporting period. At both December 31, 2022 and 2021, redeemable non-controlling interests were reported in the accompanying consolidated balance sheets at their carrying values, as the carrying value at each reporting period was greater than the estimated redemption value.