Non-controlling interest

On August 30, 2012, the Company acquired a 51 percent ownership interest in UNIK, a provider of payroll cards in Brazil. The purchase agreement provides the Company with a call option which allows the Company to acquire the remaining shares at specific times over a three-year period. Additionally, the agreement provides the non-controlling shareholders with the right to put their interest back to the Company at specific times. This redeemable non-controlling interest was measured at fair value at the date of acquisition. The Company believes that it is probable that the non-controlling interest in UNIK will become redeemable. However, as of December 31, 2014, the Company has determined that no accretion to the fair value of the non-controlling interest is necessary as the fair value of the put option at the time of redemption is expected to approximate the value of the non-controlling interest.

The redeemable non-controlling interest is reported on the Company’s consolidated balance sheets as “Redeemable non-controlling interest.”

A reconciliation of redeemable non-controlling interests for the years ended December 31, 2014 and 2013, is as follows:



	2014			2013
Balance, beginning of period	$	18,729		$	21,662
Net income (loss) attributable to redeemable non-controlling interest	198			(401		)
Currency translation adjustment	(2,337		)	(2,532		)
Ending balance	$	16,590		18,729

On December 1, 2014, WEX acquired the assets of ExxonMobil's Esso portfolio in Europe through its majority owned subsidiary, WEX Europe Services Limited. The Company formed this entity during 2013 and has 75 percent ownership.

A reconciliation of non-controlling interest for the years ended December 31, 2014 and 2013 is as follows:



	2014			2013
Balance, beginning of period	$	519		$	—
Non-controlling interest investment	21,267			1,032
Net loss attributable to non-controlling interest	(2,391		)	(509		)
Currency translation adjustment	(1,999		)	(4		)
Ending balance	$	17,396		$	519