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Note 3 - Subsidiaries and Joint Ventures with Noncontrolling Owners' Interests

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Noncontrolling Interest Disclosure [Text Block]

3. Subsidiaries and Joint Ventures with Noncontrolling Owners’ Interests

The Company is obligated to purchase its partners’ interests in

two

50%

owned subsidiaries, due to circumstances outlined in their agreements that are certain to occur. Therefore, the Company has classified these obligations as mandatorily redeemable and has recorded a liability in “Members’ interest subject to mandatory redemption and undistributed earnings” on the consolidated balance sheets. In addition, all undistributed earnings at the time of the noncontrolling owners’ death or permanent disability are also mandatorily payable. The liability consists of the following (amounts in thousands):

		March 31, 2017				December 31, 2016
Members’ interest subject to mandatory redemption		$	40,000			$	40,000
Net accumulated earnings			4,183				5,230
Total liability		$	44,183			$	45,230

Earnings for the

three

months ended

March

31,

2017

and

2016

were minimal in both periods, and were included in “Other operating income, net” on the Company’s condensed consolidated statements of operations.

Changes in Noncontrolling Interests

The following table summarizes the changes in the noncontrolling owners’ interests in subsidiaries and joint ventures (amounts in thousands):

		Three Months Ended March 31,
		2017				2016
Balance, beginning of period		$	656			$	(91	)
Net income attributable to noncontrolling interest included in equity			371				(8	)
Distributions to noncontrolling interest owners			--				--
Balance, end of period		$	1,027			$	(99	)

The increase in net income attributable to noncontrolling interest included in equity is due to the Company’s

two

Utah based majority-owned joint ventures which were not ongoing during the same prior year period.

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- References

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- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-URI http://asc.fasb.org/topic&trid=2197479

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