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Investments In Unconsolidated Joint Ventures | 9 Months Ended
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Sep. 30, 2017
Investments In Unconsolidated Joint Ventures [Abstract] |
Investments In Unconsolidated Joint Ventures | Note 6 – Investments i n Unconsolidated Joint Ventures Our investments in unconsolidated joint ventures are accounted for under the equity method of accounting. Our previous investment in Rialto Distribution, which was fully written off since 2010, has been transferred to our previous business partners. As part of our exit strategy, we paid an amount lower than the accrual we had taken for our debt obligation in the joint venture. Consequently, we recognized a gain o f $15,000 (NZ$21,000) during the quarter ended June 30, 2017. ﻿ The table below summarizes our active investment holdings in two (2) unconsolidated joint ventures as of September 30, 2017 and December 31, 2016:
﻿ |  |  |  |  |  |  |  |
﻿ |  |  |  | September 30, |  | December 31,
﻿(Dollars in thousands) |  | Interest |  | 2017 |  | 2016
﻿Rialto Cinemas |  | 50.0% |  | $ | 1,211 |  | $ | 1,197
﻿Mt. Gravatt |  | 33.3% |  |  | 4,128 |  |  | 3,874
﻿Total investments |  |  |  | $ | 5,339 |  | $ | 5,071
﻿ For the quarter and nine months ended September 30, 2017 and 2016, the recognized share of equity earnings from our investments in unconsolidated joint ventures are as follows: ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  | Quarter Ended |  | Nine Months Ended
﻿ |  |  |  |  | September 30, |  |  | September 30, |  |  | September 30, |  |  | September 30,
﻿(Dollars in thousands) |  |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016
﻿Rialto Cinemas |  |  |  | $ | 32 |  | $ | 47 |  |  | 93 |  |  | 208
﻿Mt. Gravatt |  |  |  |  | 104 |  |  | 153 |  |  | 561 |  |  | 600
﻿Total equity earnings |  |  |  | $ | 136 |  | $ | 200 |  | $ | 654 |  | $ | 808
﻿

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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 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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- References No definition available. + Details
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