Redeemable Noncontrolling Interests |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Redeemable Noncontrolling Interests [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Redeemable Noncontrolling Interests | 16. REDEEMABLE NONCONTROLLING INTERESTS
During the third quarter of 2020, the Company noticed its intent to exercise its call option to acquire the remaining 6% interest in a joint venture in South Africa, operated under the name Atlas Tower South Africa, which the Company expects to close in the fourth quarter of 2020. The Company allocates income and losses to the noncontrolling interest holder based on the applicable membership interest percentage. At each reporting period, the redeemable noncontrolling interest was recognized at the higher of (1) the initial carrying amount of the noncontrolling interest as adjusted for accumulated income or loss attributable to the noncontrolling interest holder, or (2) the contractually-defined redemption value as of the balance sheet date. Adjustments to the carrying amount of redeemable noncontrolling interest were charged against retained earnings (or additional paid-in capital if there were no retained earnings).
The components of the redeemable noncontrolling interest are as follows (in thousands):
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