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Noncontrolling Interest

12 Months Ended

Jun. 30, 2016

Noncontrolling Interest [Abstract]

Noncontrolling Interest

Noncontrolling Interest

Astral was created in conjunction with a noncontrolling interest, resulting in Astrotech owning 72% of Astral at the point of creation and 83% as of June 30, 2015; the Company owns 92% of Astral as of June 30, 2016. The following table details the contributions from the Company and the minority interest owner and the Company’s ownership percentage of Astral:

(In thousands)	Astrotech				Minority Owner				Astrotech Ownership
Initial investment	$	1,422			$	422			72	%
Additional contributions made in fiscal year 2015	1,000				—				83	%
Additional contributions made in fiscal year 2016	3,000				—				92	%
Total Contributions	$	5,422			$	422

The Company applies noncontrolling interest accounting, which requires us to clearly identify the noncontrolling interest in the condensed consolidated balance sheets and consolidated income statements. The Company discloses three measures of net income (loss): net income (loss), net loss attributable to noncontrolling interest, and net income (loss) attributable to Astrotech Corporation. The Company’s operating cash flows in its consolidated statements of cash flows reflect net income (loss), while our basic and diluted earnings per share calculations reflect net income (loss) attributable to Astrotech Corporation.

The noncontrolling interest balance of $1.8 million at June 30, 2014 represented an interest held by the State of Texas Emerging Technology Fund, which was settled in August 2014 for $2.3 million (see Note 16 for more information). The noncontrolling interest balance of $(40) thousand and $299 thousand represents a noncontrolling interest in Astral at June 30, 2016 and 2015, respectively.

(In thousands)	2016				2015
Beginning balance	$	299			$	1,800
Net loss attributable to noncontrolling interest	(339		)		(123		)
Repayment of State of Texas Emerging Technology Fund	—				(1,800		)
Noncontrolling interest funding of Astral	—				422
Ending balance	$	(40	)		$	299

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- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64809438&loc=SL4573702-111684

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X

- References

No definition available.

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