VARIABLE INTEREST ENTITY

3 Months Ended

Mar. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

VARIABLE INTEREST ENTITY

3. VARIABLE INTEREST ENTITY

As of March 31, 2017, the Company consolidated its 100% owned WSJ subsidiary which qualifies as a variable interest entity under U.S. GAAP (“VIE”). WSJ’s classification as a VIE is due to a third party lender having the potential right to receive WSJ’s residual returns. The Company is the primary beneficiary because it has the power to direct the activities that most significantly impact WSJ’s economic performance. Accordingly, the Company consolidated the operating results, assets and liabilities of WSJ. See Note 2 - Acquisition for details surrounding the VIE’s acquisition and Note 6 - Debt and Lines of Credit for the VIE’s debt structure. The following table presents the carrying amounts, after eliminating the effect of intercompany transactions, included in the Consolidated Balance Sheets that are for the use of or are the obligation of WSJ (in thousands):

	March 31, 2017		December 31, 2016
Assets	$	248,313	$	268,910
Liabilities	207,448		243,884
Net carrying amount	$	40,865	$	25,026