Note 9 - Redeemable Noncontrolling Interests

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Redeemable Noncontrolling Interest Disclosure [Text Block]

Note 9. Redeemable Noncontrolling Interests

Hydro-Québec owns a 45% redeemable noncontrolling interest in Dana TM4 Inc., Dana TM4 Electric Holdings BV and Dana TM4 USA, LLC. The terms of the joint venture agreement provide Hydro-Québec with the right to put all, and not less than all, of its ownership interests in Dana TM4 Inc., Dana TM4 Electric Holdings BV and Dana TM4 USA, LLC to Dana at fair value.

Redeemable noncontrolling interests reflected as of the balance sheet date are the greater of the redeemable noncontrolling interest balances adjusted for comprehensive income (loss) items and distributions or the redemption values. Redeemable noncontrolling interest adjustments of redemption value are recorded in retained earnings. We estimate the fair value of the redemption value using an income based approach based on discounted cash flow projections.  In determining fair value using discounted cash flow projections, we make significant assumptions and estimates about the extent and timing of future cash flows, including revenue growth rates, projected EBITDA, discount rate, capital expenditures and terminal growth rate.

Reconciliation of changes in redeemable noncontrolling interests —

	2023			2022
Balance, beginning of period	$	195		$	198
Capital contribution from redeemable noncontrolling interest		22			51
Adjustment to redemption value		(16	)		41
Other
Comprehensive income (loss) adjustments:
Net loss attributable to redeemable noncontrolling interests		(12	)		(84	)
Other comprehensive income (loss) attributable to redeemable noncontrolling interests		2			(11	)
Balance, end of period	$	191		$	195