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DECONSOLIDATION OF SUBSIDIARY | 6 Months Ended
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Jun. 30, 2013
DECONSOLIDATION OF SUBSIDIARY [Abstract] |
DECONSOLIDATION OF SUBSIDIARY | (15) DECONSOLIDATION OF SUBSIDIARY During the three months ended June 30, 2013, the Company concluded that it no longer has controlling influence over a once consolidated subsidiary in the Customer Strategy Services segment. T he Company has deconsolidated its interest in Peppers & Rogers Gulf WLL (“PRG Kuwait”). PRG Kuwait is owned 48% by our affiliate Peppers & Rogers Group BV (“PRG BV”) and 52% by u naffiliated parties. In 2010, PRG BV acquired benef ic ial interest in 51% of the PRG Kuwait equity owned by others, resulting in 99% control of PRG Kuwait. During the three months ended June 30, 2013, PRG BV took actions with respect to the PRG Kuwait business that under local law required the collaboration of the PRG Kuwait 51% equity owner, which despite the Company's legal entitlement the Company ha s not been able to secure. Therefore, the Company is deconsolidating its interest in PRG Kuwait because the Company is no longer confident that it can exercise its beneficial owner s hip rights. Legal claims have been filed and negotiations are ongoing to perfect PRG BV's rights to the beneficial ownership in 51% of PRG Kuwait or to dispose PRG BV's equity ownership in the remaining 48%. These legal action s are expected to be protracted and at present the Company cannot estimate the timing of a resolu ti on. Upon deconsolidation of PRG Kuwait, the Company wrote off all PRG Kuwait assets and liabilities and recorded the retained noncontrolling interest at fair value, which resulted in a recorded loss of $3.7 million which was included in Loss on deconsolidation of subsidiary in the Consolidated Statements of Comprehensive Income (Loss). The $3.7 million loss includes $1.3 million of goodwill allocated to PRG Kuwait immediately prior to deconsolidation based on PRG Kuwait's relative fair value of the Customer Strategy Services segment. The fair value of the noncontrolling interest was determined to be zero as the Company does not believe it will recognize any financial benefit from this interest. The Company is reviewing all options available to it to divest of its noncontrolling interest in this deconsolidated subsidiary.

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- Definition The entire disclosure related to any subsidiaries that have been deconsolidated and the detail surrounding the deconsolidation. + References No definition available. + Details
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