Shareholder Equity

The following table summarizes the ownership components of total equity for the nine months ended September 30, 2012:



(Amounts in Thousands)	AmTrust			Non-Controlling Interests			Total
Beginning Balance, January 1, 2012	$	890,563		$	69,098		$	959,661
Net income	122,674			3,079			125,753
Unrealized holding gains and reclassification	56,265			—			56,265
Foreign currency translation	4,624			—			4,624
Unrealized loss on interest rate swap	(952		)	—			(952		)
Equity component of convertible senior notes, net of income tax and issue costs	3,306			—			3,306
Capital contribution	—			16,624			16,624
Acquisition of non-controlling interest	6,900			(6,900		)	—
Dividends	(18,200		)	—			(18,200		)
Share exercises and compensation, other	9,130			—			9,130
Ending Balance, September 30, 2012	$	1,074,310		$	81,901		$	1,156,211

The Company acquired the remaining twenty percent interest of its subsidiary, AMT Warranty Corp., during the nine months ended September 30, 2012. The purchase price for the non-controlling interest of AMT Warranty Corp. was not material to the Company. In September 2012, the Company paid a ten percent stock dividend.