Arrangements with Variable Interest Entities and Joint Ventures

As described in Note 2, the Company consolidates its non-controlling membership interest in Savary Island in accordance with the authoritative guidance for the consolidation of variable interest entities because Savary Island is a variable interest entity and, among other things, the Company has entered into an agreement with Savary Island's other member which establishes a specified purchase price in the event that Ring Island exercises its right to sell its membership interest to the Company. Also, as described in Note 2, the Company consolidates its controlling membership interest in STX Wireless in accordance with the authoritative guidance for consolidations based on the voting interest model. All intercompany accounts and transactions have been eliminated in the consolidated financial statements.

The aggregate carrying amount and classification of the assets and liabilities of Savary Island, excluding intercompany accounts and transactions, as of December 31, 2011 and December 31, 2010 are presented in the table below (in thousands):



	December 31, 2011		December 31, 2010

Assets
Cash and cash equivalents	$	7,084	$	5,250
Wireless licenses	41,947		156,055
Assets held for sale (1)	85,190		—
Total Assets	$	134,221	$	161,305
Liabilities
Other current liabilities	$	5	$	—
Total Liabilities	$	5	$	—


(1)	Represents the carrying value of wireless licenses to be sold to Verizon Wireless at the closing under the license purchase agreement discussed in Note 6.

The following table provides a summary of the changes in value of the Company's redeemable non-controlling interests (in thousands):



	Year Ended December 31,
	2011			2010

Beginning balance, January 1	$	104,788		$	71,632
Purchases of membership units of non-controlling interests	—			(123,163		)
Non-controlling interest contributions	—			43,902
Accretion of redeemable non-controlling interests, before tax	(7,844		)	108,030
Other	(1,034		)	4,387
Ending balance, December 31	$	95,910		$	104,788