Redeemable Noncontrolling Interests |
6 Months Ended | ||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||
| Noncontrolling Interest [Abstract] | |||||||||||||||||||||||||||||||
| Redeemable Noncontrolling Interests | Redeemable Noncontrolling Interest The interest held by Merrill in the SHOP venture with us was classified as a redeemable noncontrolling interest in the mezzanine section between liabilities and equity on our condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024. Certain provisions within the operating agreement of the Merrill SHOP venture provide Merrill with put rights upon certain contingent events that are not solely within our control as the majority equity interest owner; and therefore, Merrill’s noncontrolling interest was determined to be contingently redeemable. As of June 30, 2025, this noncontrolling interest is not currently redeemable and we concluded a contingent redemption event is not probable to occur. Consequently, the noncontrolling interest will not be subsequently remeasured to its redemption amount until such contingent event and the related redemption are probable to occur. We will continue to reflect the attribution of gains or losses to the redeemable noncontrolling interest in each period. The following table presents the change in redeemable noncontrolling interest for the six months ended June 30, 2025 ($ in thousands):
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