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7. Noncontrolling Interests
9 Months Ended
Sep. 30, 2016
Notes  
7. Noncontrolling Interests

7.  NONCONTROLLING INTERESTS

 

The Company owns 100% of all subsidiaries, except for a small portion of one, which is owned by a Noncontrolling Interest. At December 31, 2015, total Shareholders’ Equity was $41,154,000, and the Noncontrolling Interest was $272,000. For the nine month period ended September 30, 2016, the Noncontrolling Interest’s portion of Net Income was approximately $117,000, and their portion of Other Comprehensive Income was a loss of $40,000. At September 30, 2016, total Shareholders’ Equity was $50,791,000, of which the Noncontrolling Interest held a value of $349,000.

 

During the second quarter of 2016, the Company loaned the Noncontrolling Interest £100,000 British Pounds.  The loan is non-interest bearing and repayment terms include application of any subsequent cash dividends and distributions in kind to the loan balance. At September 30, 2016, the loan is included in Other Long Term Assets.