| Noncontrolling Interests |
Note 14 – Noncontrolling interests
The components of noncontrolling interests are as follows (dollars in thousands):
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June 30,
2013
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December 31, 2012
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AFC LLC
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$
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--
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$
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1,737
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Australian Country Cinemas
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548
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601
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Shadow View Land and Farming LLC
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1,897
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1,912
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Sutton Hill Properties ("SHP")
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2,190
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(152)
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Noncontrolling interests in consolidated subsidiaries
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$
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4,635
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$
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4,098
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The components of income attributable to noncontrolling interests are as follows (dollars in thousands):
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Three Months Ended
June 30,
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Six Months Ended
June 30,
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2013
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2012
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2013
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2012
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AFC LLC
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$
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69
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$
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116
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$
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173
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$
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294
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Australian Country Cinemas
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48
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9
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48
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72
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Shadow View Land and Farming LLC
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(6)
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(34)
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(15)
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(56)
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Sutton Hill Properties
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(71)
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(106)
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(170)
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(194)
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Net income (loss) attributable to noncontrolling interest
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$
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40
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$
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(15)
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$
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36
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$
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116
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Summary of Controlling and Noncontrolling Stockholders’ Equity
A summary of the changes in controlling and noncontrolling stockholders’ equity is as follows (dollars in thousands):
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Controlling Stockholders’ Equity
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Noncontrolling Stockholders’ Equity
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Total Stockholders’ Equity
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Equity at – January 1, 2013
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$
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126,856
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$
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4,098
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$
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130,954
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Net income
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3,468
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36
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3,504
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Increase in additional paid in capital
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231
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76
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307
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Contributions from noncontrolling stockholders - SHP
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--
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2,513
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2,513
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Distributions to noncontrolling stockholders
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--
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(2,016)
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(2,016)
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Accumulated other comprehensive loss
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(18,456)
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(72)
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(18,528)
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Equity at – June 30, 2013
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$
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112,099
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$
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4,635
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$
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116,734
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Controlling Stockholders’ Equity
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Noncontrolling Stockholders’ Equity
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Total Stockholders’ Equity
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Equity at – January 1, 2012
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$
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123,752
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$
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1,235
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$
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124,987
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Net income (loss)
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(3)
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116
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113
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Increase in additional paid in capital
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521
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--
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521
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Contributions from noncontrolling stockholders
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--
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3,275
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3,275
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Accumulated other comprehensive income
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938
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(4)
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934
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Equity at – June 30, 2012
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$
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125,208
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$
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4,622
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$
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129,830
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AFC LLC Acquisition of Noncontrolling Interest
On June 28, 2013, we acquired the interest in AFC LLC that we did not already own in consideration of the release of certain claims we held against the owner of that interest under a guaranty agreement. The removal of the AFC LLC noncontrolling interest balance of $76,000 was reflected as a change in our additional paid in capital pursuant to FASB ASC 810-10-45.
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