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Investments In Unconsolidated Joint Ventures | 12 Months Ended
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Dec. 31, 2024
Investments In Unconsolidated Joint Ventures [Abstract] |
Investments In Unconsolidated Joint Ventures | NOTE 9 – INVESTMENTS IN UNCONSOLIDATED JOINT V ENTURES Our investments in unconsolidated joint ventures are accounted for under the equity method of accounting. The table below summarizes our active investment holdings in two unconsolidated joint ventures:
|  |  |  |  | December 31,
(Dollars in thousands) |  | Interest |  | 2024 |  | 2023
Mt. Gravatt |  |  | 33.3% |  | $ | 3,138 |  | $ | 3,908
Rialto Cinemas |  |  | 50.0% |  |  | — |  |  | 848
Total Joint Ventures |  |  |  |  | $ | 3,138 |  | $ | 4,756
Our recorded share of equity earnings (losses) from our investments in unconsolidated joint ventures are as follows:
(Dollars in thousands) |  | 2024 |  | 2023 |  | 2022
Mt. Gravatt |  | $ | 479 |  | $ | 526 |  | $ | 392
Rialto Cinemas |  |  | (866) |  |  | (70) |  |  | (121)
Total equity earnings |  | $ | (387) |  | $ | 456 |  | $ | 271
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. Rialto Cinemas We own an undivided 50.0% interest in the assets and liabilities of the Rialto Entertainment joint venture that owns and operates two (2) movie theaters, with 13 screens in New Zealand. In December 2024 we fully impaired our investment in this joint venture, as its performance has not recovered to the extent that we believe its reduced performance is other than temporary. We recorded this impairment to ‘equity earnings (losses) from our investments in unconsolidated joint ventures’ in the consolidated income statement.

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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/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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