Noncontrolling Interests

Note 20 – Noncontrolling interests

As of December 31, 2011, the noncontrolling interests in our consolidated subsidiaries are comprised of the following:

50% of membership interest in Angelika Film Center LLC ("AFC LLC") owned by a subsidiary of iDNA
25% noncontrolling interest in Australian Country Cinemas by 21^stCentury Pty, Ltd
25% noncontrolling interest in the Sutton Hill Properties, LLC owned by Sutton Hill Capital, LLC

The components of noncontrolling interest are as follows (dollars in thousands):


		December 31,
		2011			2010
AFC LLC	$	1,125		$	681
Australian Country Cinemas		360			162
Elsternwick unincorporated joint venture		-			176
Sutton Hill Properties		(250	)		(167	)
Noncontrolling interests in consolidated subsidiaries	$	1,235		$	852

The components of income attributable to noncontrolling interests are as follows (dollars in thousands):


					December 31,
		2011			2010			2009
AFC LLC	$	909		$	546		$	606
Australian Country Cinemas		311			249			152
Elsternwick unincorporated joint venture		25			59			34
Landplan		-			-			(157	)
Sutton Hill Properties		(305	)		(238	)		(247	)
Net income attributable to noncontrolling interests	$	940		$	616		$	388

Landplan Property Partners, Ltd

In 2006, we formed Landplan Property Partners, Ltd ("Reading Landplan") to identify, acquire, develop, or redevelop properties on an opportunistic basis in Australia and New Zealand. These properties are held in separate special purpose entities, which are collectively referred to as "Reading Landplan." The properties held through Landplan currently consist of the holdings described above as being located at Indooroopilly, Taringa, Lake Taupo (including the adjacent undeveloped parcel), and Manukau. On April 1, 2010, we terminated our then existing contractual relationship with Doug Osborne, at that time the chief executive officer of our Landplan real estate operations. Mr. Osborne's incentive interest in our various Landplan projects, which was valued at $0, was revoked at that time. Mr. Osborne continues to provide services to us on a non-exclusive independent contractor basis.

Elsternwick Sale

On April 14, 2011, we sold our 66.7% share of the 5-screen Elsternwick Classic cinema located in Melbourne, Australia to our joint venture partner for $1.9 million (AUS$1.8 million) and recognized a gain on sale of a discontinued operation of $1.7 million (AUS$1.6 million).

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

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