The following table presents the reconciliation of changes in our redeemable noncontrolling interests:


	Redeemable Noncontrolling Interest
Balance as of June 30, 2022	$	131,483


Net income attributable to noncontrolling interests	2,160
Distribution to noncontrolling interests (1)	(3,652)
Purchase of noncontrolling interest (2)	(95,567)
Accretion to redemption value (3)	(7,455)
Reclassification to mandatorily redeemable noncontrolling interest (4)	(9,582)

Foreign currency translation	(4,822)
Balance as of December 31, 2022	$	12,565

(1) Distributions to noncontrolling interests include contractually required profit sharing payments made annually to the minority interest holders in one of the PrintBrothers businesses.

(2) As discussed above, we purchased an additional 10% to 11% of the equity interests in three PrintBrothers businesses during the second quarter of fiscal year 2023. We also purchased the 1% minority interest in our BuildASign business this quarter.

(3) Accretion of redeemable noncontrolling interests to redemption value recognized in retained earnings is the result of changes in the estimated redemption amount to the extent increases do not exceed the estimated fair value.

(4) During the second quarter of fiscal year 2023, the minority equity interest holders of three PrintBrothers businesses exercised a put option that triggered a mandatory redemption feature for the remaining minority equity interests. The remaining minority equity interests were reclassified to mandatorily redeemable noncontrolling interests, as part of other liabilities within the consolidated balance sheets. Refer above for additional information regarding the transaction and Note 7 for additional details about the reclassified liability balance.