Redeemable Noncontrolling Interests

6 Months Ended

Jun. 30, 2021

The following table summarizes activity related to redeemable noncontrolling interest for the six months ended June 30, 2021.


(In thousands)	Six Months Ended June 30, 2021
December 31, 2020	$	315,649
Net earnings	10,139
Distributions	(10,351)
Distribution related to spin-off transaction	(8,040)
Transfer to noncontrolling interest	(18,367)
June 30, 2021	$	289,030

In connection with the spin-off of the live comedy venue and talent management businesses of Levity Entertainment Group, LLC (see Note 4), $8.0 million of redeemable noncontrolling interests was distributed to the noncontrolling partners. In addition, as part of the transaction, the preexisting put rights of the noncontrolling interest holders were terminated.

Accordingly, the remaining $18.4 million of noncontrolling interests was transferred from Redeemable noncontrolling interests to Noncontrolling interests in the condensed consolidated balance sheet.