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Note 9 - Equity-Method Investment | 9 Months Ended
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Sep. 30, 2016
Notes to Financial Statements |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | Note 9. Equity-Method Investment In October 2014, we acquired a 99.9% membership interest in a limited liability company managed by U.S. Bancorp Community Development Corporation with an initial equity contribution of $4.1 million. We made additional equity contributions to the entity of $17.1 million in the first nine months of 2016 and $22.8 million in the full year of 2015. We are obligated to make $49.8 million of total contributions in quarterly installments to the entity over a two-year period ending October 2016, of which $44.0 million in contributions have been made as of September 30, 2016. This investment generates new markets tax credits under the New Markets Tax Credit Program (“NMTC Program”). The NMTC Program was established by Congress in 2000 to spur new or increased investments into operating businesses and real estate projects located in low-income communities. While U.S. Bancorp Community Development Corporation exercises management control over the limited liability company, due to the economic interest we hold in the entity, we determined our ownership portion of the entity was appropriately accounted for using the equity method. The following amounts related to this equity-method investment were recorded in our Consolidated Balance Sheets (in thousands):
|  | September 30, 2016 |  |  | December 31, 2015 |
Carrying value, recorded as a component of other non-current assets |  | $ | 5,594 |  |  | $ | 22,284 |
Present value of obligation associated with future equity contributions, recorded as a component of accrued liabilities |  |  | 5,674 |  |  |  | 22,511 |
The following amounts related to this equity-method investment were recorded in our Consolidated Statements of Operations (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Asset impairments to write investment down to fair value |  | $ | 3,498 |  |  | $ | 4,131 |  |  | $ | 10,494 |  |  | $ | 12,391 |
Our portion of the partnership’s operating losses |  |  | 2,066 |  |  |  | 1,731 |  |  |  | 6,197 |  |  |  | 5,196 |
Non-cash interest expense related to the amortization of the discounted fair value of future equity contributions |  |  | 31 |  |  |  | 155 |  |  |  | 185 |  |  |  | 549 |
Tax benefits and credits generated |  |  | 7,592 |  |  |  | 7,414 |  |  |  | 20,374 |  |  |  | 22,316 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32847-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32787-111569 + Details
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