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INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEESPolicies | 12 Months Ended
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Dec. 31, 2014
INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES |
INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES AND INVESTEES | NOTE 4. 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.
|  | Percent ownership |
Investee |  | 2014 |  |  | 2013 |  |  | 2012 |
TCI Eton Square, L.P. ("Eton Square") |  |  | 0 | % |  |  | 0 | % |  |  | 10 | %
Our interest in Eton Square, LP was 0% as of December 31, 2014 and December 31, 2013, respectively, and 10% as of December 31, 2012. We accounted for this interest under the equity method because the general partner was a related party and exercised significant influence over the operations and financial activities. Accordingly, the investment was carried at cost, and adjusted for the Companies’ proportionate share of earnings or losses. Due to the losses accounted for under the equity method, our investment is now at zero. As of April 8, 2013, the underlying asset owned by this entity was transferred to the existing lender in a settlement agreement and IOT no longer recorded this entity as an investment on its books. IOT recorded no gain or loss on the transfer. The market values as of the years ended December 31, 2014 and December 31, 2013 were zero, due to the transfer. The market value as of December 31, 2012 was not determinable as there were no traded markets, either active or inactive, for this investment. The following is a summary of the financial position and results of operations from our investees (dollars in thousands):
|  | 2014 |  |  | 2013(1) |  |  | 2012 |
Real Estate, net of accumulated depreciation |  | $ | - |  |  | $ | - |  |  | $ | 9,660 |
Other assets |  |  | - |  |  |  | - |  |  |  | 641 |
Notes payable |  |  | - |  |  |  | - |  |  |  | (9,647 | )
Other liabilities |  |  | (7,470 | ) |  |  | (7,470 | ) |  |  | (3,972 | )
Shareholders' equity/partners' capital |  | $ | 7,470 |  |  | $ | 7,470 |  |  | $ | 3,318 |
Rents |  | $ | - |  |  | $ | 224 |  |  | $ | 1,117 |
Depreciation and amortization |  |  | - |  |  |  | (140 | ) |  |  | (877 | )
Property operating expenses |  |  | - |  |  |  | (224 | ) |  |  | (819 | )
General and administrative |  |  | - |  |  |  | (5 | ) |  |  | (24 | )
Mortgage and loan interest |  |  | - |  |  |  | (155 | ) |  |  | (682 | )
Provision for losses |  |  | - |  |  |  | - |  |  |  | (2,400 | )
Loss from continuing operations |  |  | - |  |  |  | (300 | ) |  |  | (3,685 | )
Income from discontinued operations |  |  | - |  |  |  | - |  |  |  | - |
Net loss |  | $ | - |  |  | $ | (300 | ) |  | $ | (3,685 | )
Company's proportionate share of losses (2) |  | $ | - |  |  | $ | - |  |  | $ | (37 | )
(1) Financial results are represented through April 2013, the date of the asset transfer to the existing lender. |
(2) Losses are recorded to the extent of the carrying value of the partner's capital contribution. |

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- Definition Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6872867&loc=d3e40691-111596 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13433-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section M Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.2,12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 2, 12 -Article 5 + Details
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