XML 51 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
Investment in Joint Venture (Tables)
 9 Months Ended
Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Summarized results of operations of investment in the Manhattan Collection joint venture
The summarized results of operations of the Company’s investment in the Manhattan Collection joint venture for the three and nine months ended September 30, 2014 and 2013 are presented below (in thousands):
 
For the three months ended September 30,
 
For the nine months ended September 30,
 
2014
 
2013
 
2014
 
2013
Revenues
$
47,726

 
$
43,299

 
$
131,699

 
$
121,868

Total expenses
41,771

 
39,881

 
126,107

 
119,273

Net income (loss)
$
5,955

 
$
3,418

 
$
5,592


$
2,595

Company’s 49% interest of net income (loss)
2,918

 
1,675

 
2,740

 
1,272

Basis adjustment
(70
)
 
7

 
(57
)
 
(567
)
Special loan interest income elimination
602

 
602

 
1,787

 
1,787

Equity in earnings (loss) in joint venture
$
3,450

 
$
2,284

 
$
4,470

 
$
2,492