Redeemable Non-controlling Interest

3 Months Ended

Mar. 31, 2023

Redeemable Noncontrolling Interest, Equity, Carrying Amount [Abstract]

16. REDEEMABLE NON-CONTROLLING INTEREST

The following table summarizes the redeemable non-controlling interest activity for the three months ended March 31, 2023:


	Three Months Ended
(In thousands)	March 31, 2023
Balance at beginning of period	$	—
Reclassification of non-controlling interests		443,757
Redemption of redeemable non-controlling interest		(1,519	)
Net income attributable to redeemable non-controlling interests		2,809
Annual recurring compensation earned		(2,809	)
Translation adjustment		430
Balance as of March 31, 2023	$	442,668

Annual Recurring Compensation payable on untendered outstanding shares under the DPLTA must be recognized as it accrues. For the three months ended March 31, 2023, we have recognized $2.8 million representing the current quarter's portion of the annual dividend to the redeemable non-controlling shareholders, which will be paid annually after the ordinary general shareholders' meeting of ADVA beginning in 2024.