10.

INVESTMENTS

Equity Method Investments

The Company accounts for investments through which it holds a noncontrolling interest and has the ability to exert significant influence using the equity method of accounting, recording its owned percentage of the investment’s net results of operations in Income (loss) in equity interests, net, in the Company’s consolidated statement of operations. Such losses reduce the carrying value of the Company’s investment and gains increase the carrying value of the Company’s investment. Dividends paid by the equity investee reduce the carrying amount of the Company’s investment.

As discussed in Note 9 – Deconsolidation of Subsidiaries, through January 3, 2014, the Company had a 25% equity investment in a company located in Finland related to a business combination completed in 2001. The Company received a dividend of $658 in the first quarter of 2013 for this investment. The carrying value of the investment was $148 as of September 30, 2013. Effective January 3, 2014, the Company has a 15% equity investment in Alma Career Oy, a joint venture in Finland, Eastern Europe and the Baltics with Alma Media. The Company received a dividend of $199 in the second quarter of 2014 for this investment. The carrying value of the investment was $22,154 as of September 30, 2014 and was recorded on the consolidated balance sheet as a component of Investment in unconsolidated affiliates.

In 2008, the Company acquired a 50% equity interest in a company located in Australia. For the nine months ended September 30, 2014 and 2013, the Company expended an additional $1,331 and $1,657, respectively, for additional working capital requirements relating to the Australian investment. The carrying value of the investment was $536 and $0 as of September 30, 2014 and 2013, respectively, and was recorded on the consolidated balance sheet as a component of Investment in unconsolidated affiliates.

Income (loss) in equity interests are as follows by equity investment:


	Three months ended September 30,						Nine months ended September 30,
	2014			2013			2014			2013
Alma Career Oy	$	168		$	—		$	518		$	—
Finland		—			62			—			273
Australia		(93	)		(181	)		(518	)		(1,095	)

Income (loss) in equity interests, net	$	75		$	(119	)	$	—		$	(822	)