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INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES

12 Months Ended

Dec. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES

NOTE 5.    INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES

Investments in unconsolidated subsidiaries, jointly owned companies and other investees in which we have a 20% to 50% interest or otherwise exercise significant influence are carried at cost, adjusted for the Company’s proportionate share of their undistributed earnings or losses, via the equity method of accounting.

Investments accounted for via the equity method consists of the following:

			Percentage ownership as of December 31,
		2015				2014				2013
Gruppa Florentina, LLC(1)			20.00	%			20.00	%			20.00	%

⁽¹⁾ Other investees.

The market values, other than unconsolidated subsidiaries, as of the year ended December 31, 2015, 2014 and 2013 were not determinable as there were no readily traded markets for these entities. The following is a summary of the financial position and results of operations from our investees (dollars in thousands):

		For the Twelve Months Ended December 31,
		2015				2014				2013
Other Investees
Real estate, net of accumulated depreciation		$	13,899			$	11,647			$	10,823
Notes receivable			8,457				7,326				6,526
Other assets			30,834				30,291				32,131
Notes payable			(10,883	)			(10,429	)			(11,022	)
Other liabilities			(7,967	)			(7,192	)			(8,134	)
Shareholders’ equity/partners capital			(34,340	)			(31,643	)			(30,324	)
Revenue		$	51,650			$	48,893			$	46,276
Depreciation			(1,150	)			(1,151	)			(1,166	)
Operating expenses			(47,143	)			(45,590	)			(42,330	)
Interest expense			(805	)			(901	)			(1,022	)
Income (loss) from continuing operations		$	2,552			$	1,251			$	1,758
Income (loss) from discontinued operations			—				—				—
Net income (loss)		$	2,552			$	1,251			$	1,758
Company’s proportionate share of earnings (1)		$	510			$	250			$	352

⁽¹⁾ Earnings represent continued and discontinued operations

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- References

No definition available.

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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=6382943&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=49116238&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=49116238&loc=d3e32787-111569

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