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Noncontrolling Interests
12 Months Ended
Dec. 31, 2016
Noncontrolling Interest [Abstract]  
Noncontrolling Interests

7. NONCONTROLLING INTERESTS

 

The Company owns 100% of all subsidiaries, except for a small portion of one, which is owned by a Noncontrolling Interest. At December 31, 2014, total Shareholders’ Equity was $33,969,000, and the Noncontrolling Interest was $111,000. During 2014, the subsidiary made a distribution of $145,000 to the Noncontrolling Interest. For the twelve month period ended December 31, 2015, the Noncontrolling Interest’s portion of Net Income was approximately $173,000, and their portion of Other Comprehensive Income was a loss of $12,000. At December 31, 2015, total Shareholders’ Equity was $41,154,000, of which the Noncontrolling Interest held a value of $272,000. For the year ended December 31, 2016, the Noncontrolling Interest’s portion of Net Income was approximately $169,000, and their portion of Other Comprehensive Income was a loss of $59,000. At December 31, 2016, total Shareholders’ Equity was $46,061,000, of which the Noncontrolling Interest held a value of $382,000.

 

During the second quarter of 2016, the Company loaned the Noncontrolling Interest £100,000 British Pounds. The loan is non-interest bearing and repayment terms include application of any subsequent cash dividends and distributions in kind to the loan balance. At December 31, 2016, the loan is included in Other Long Term Assets.