Noncontrolling Interests

6 Months Ended

Jun. 30, 2014

Note 12 — Noncontrolling Interests

The Company applies the provisions of ASC Topic 810-10-45, which establishes accounting and reporting standards for ownership interests of parties other than the Company in subsidiaries, such as joint ventures and partnerships.

The Company determined that the Blythe joint venture was a variable interest entity (“VIE”) and that the Company was the primary beneficiary as a result of its significant influence over the joint venture operations.

The Blythe joint venture operating activities are included in the Company’s consolidated statements of income as follows for the three and six months ended June 30:

	Three months ended June 30,		Six months ended June 30,
	2014	2013	2014	2013

Revenues	—	15,631	940	31,903
Net income attributable to noncontrolling interests	—	329	432	599

Since Blythe is a partnership, no tax effect was recognized for the income. Blythe made a total of $1,515 in distributions to the non-controlling interests and $1,515 in distributions to the Company during the six months ended June 30, 2014. There were no distributions made during the six months ended June 30, 2013. There were no capital contributions made during the year ended December 31, 2013 or through the six months ended June 30, 2014.

The carrying value of the assets and liabilities associated with the operations of the Blythe joint venture are included in the Company’s consolidated balance sheets as follows:

	June 30, 2014		December 31, 2013

Cash	$	250	$	3,025
Accounts receivable	—		1,085
Current liabilities	348		2,041

The net assets of the joint venture are restricted for use by the project and are not available for general operations of the Company.

- 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.

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