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ACQUISITIONS OF NON-CONTROLLING INTERESTS
9 Months Ended
Sep. 30, 2015
ACQUISITIONS OF NON-CONTROLLING INTERESTS [Abstract]  
ACQUISITIONS OF NON-CONTROLLING INTERESTS
4. ACQUISITIONS OF NON-CONTROLLING INTERESTS

During the nine months ended September 30, 2015, the Company purchased additional interests in eight partnerships (of which one was classified as redeemable non-controlling interest). The interests in the partnerships purchased ranged from 5% to 35%.  The aggregate purchase price paid was $4.0 million of which $2.8 million was paid in cash and the Company entered into a note payable of $1.2 million.  The note is payable in two equal annual installments plus accrued interest (interest accrues at 3.25%).  The purchase prices included an aggregate of $250,000 of undistributed earnings.  The remaining $3.8 million, less future tax benefits of $1.5 million, was recognized as an adjustment to additional paid-in capital.

In four separate transactions during 2014, the Company purchased interests in two partnerships which were previously classified as redeemable non-controlling interest. The interests in the partnerships purchased ranged from 10.0% to 35.0%. The aggregate of the purchase prices paid was $4.9 million, which included $3.0 million of net book value. The remaining purchase price of $1.9 million, less future tax benefits of $0.8 million, was recognized as an adjustment to additional paid-in capital.

Also, in four separate transactions during 2014, the Company purchased partnership interests in four partnerships. The interests in the partnerships purchased and sold ranged from less than 1% to 35%. The aggregate of the purchase prices paid was $0.6 million.  The purchase prices paid included a net of $0.1 million of undistributed earnings. The remaining $0.5 million, less future tax benefits of $0.2 million, was recognized as an adjustment to additional paid-in capital.