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Investments In And Advances To Unconsolidated Joint Ventures And Entities | 12 Months Ended
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Dec. 31, 2015
Investments In And Advances To Unconsolidated Joint Ventures And Entities [Abstract] |
Investments In And Advances To Unconsolidated Joint Ventures And Entities | NOTE 6 – Investments in and Advances to Unconsolidated Joint Ventures and Entities Investments in and advances to unconsolidated joint ventures and entities are accounted for under the equity method of accounting, except for Rialto Distribution as described below. The table below summarizes our investments in unconsolidated joint ventures and entities: ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿(Dollars in thousands) |  | Interest |  | December 31, 2015 |  | December 31, 2014
﻿Rialto Distribution |  | 33.3% |  | $ | -- |  | $ | --
﻿Rialto Cinemas |  | 50.0% |  |  | 1,276 |  |  | 1,564
﻿Mt. Gravatt |  | 33.3% |  |  | 4,094 |  |  | 4,605
﻿Total investments |  |  |  |  | $ | 5,370 |  | $ | 6,169
﻿ We recorded our share of equity earnings from our investments in unconsolidated joint ventures and entities as follows: ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿(Dollars in thousands) |  | 2015 |  | 2014 |  | 2013
﻿Rialto Distribution |  | $ | 22 |  | $ | 120 |  | $ | 159
﻿Rialto Cinemas |  |  | 136 |  |  | 297 |  |  | 221
﻿205-209 East 57 th Street Associates, LLC |  |  | -- |  |  | -- |  |  | (1)
﻿Mt. Gravatt |  |  | 1,046 |  |  | 598 |  |  | 990
﻿Total equity earnings |  | $ | 1,204 |  | $ | 1,015 |  | $ | 1,369
﻿ Rialto Distribution Due to significant losses in years past, we determined that the goodwill associated with Rialto Distribution’s investment in the film distribution business was fully impaired. As a result of these losses, as of January 1, 2010, we treat our interest as a cost method interest in an unconsolidated joint venture, and record income based on the distributions we receive. We have also fully provided for any losses that may result from the bank guarantee that has been given to Rialto Distribution. Rialto Cinemas We own an undivided 50.0% interest in the assets and liabilities of the Rialto Entertainment joint venture that owns and operates 2 movie theaters, with 13 screens in New Zealand. Mt. Gravatt We own an undivided 33.3% interest in Mt. Gravatt, an unincorporated joint venture that owns and operates a sixteen-screen multiplex cinema in Australia. Malulani Investments, Limited On June 26, 2006, we acquired for $1.8 million, an 18.4% interest in a private real estate company. On July 2, 2009, Magoon Acquisition and Development, LLC (“Magoon LLC”) and we entered into a settlement agreement (the “Settlement Terms”) with respect to a lawsuit against certain officers and directors of Malulani Investments, Limited (“MIL”). Under the Settlement Terms, Magoon LLC and we received $2.5 million in cash, a $6.8 million three-year 6.25% secured promissory note issued by The Malulani Group (“TMG”), and a ten-year “tail interest” in MIL and TMG in exchange for the transfer of all ownership interests in MIL and TMG held by both Magoon, LLC and RDI and for the release of all claims against the defendants in this matter. A gain on the transfer of our ownership interest in MIL of $268,000 was recognized during 2009 as a result of this transaction. The tail interest allows us to participate in certain distributions made or received by MIL, TMG, and in certain cases, the shareholders of TMG. The tail interest, however, continues only for a period of ten years and we cannot assure that we will receive any distributions from this tail interest. During 2013, we received $191,000 in interest on the promissory note, and, on June 14, 2011, we received $6.8 million of principal and interest owed on this note. We believe that further amounts are owed under the note and we have begun litigation to collect such amounts. Any further collections will be recognized when received.

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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 + Details
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- References No definition available. + Details
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