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Equity Investments in Joint Ventures (Tables)
12 Months Ended
Dec. 31, 2014
Equity Investments in Joint Ventures [Abstract]  
Schedule of the condensed financial position



 

 

 

 

 



 

 

 

 

 



December 31,

(in thousands):

2014

 

2013

Total assets

$

22,126 

 

$

20,224 



 

 

 

 

 

Liabilities

 

7,666 

 

 

7,704 

Shareholders' equity

 

14,460 

 

 

12,520 

Total liabilities and shareholders' equity

$

22,126 

 

$

20,224 



 

 

 

 

 



Schedule of the condensed results of operations



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



Year Ended December 31,

(in thousands):

2014

 

2013

 

2012

Revenues

$

4,215 

 

$

1,970 

 

$

1,767 

Expenses

 

3,503 

 

 

2,751 

 

 

5,182 

Net income (loss)

$

712 

 

$

(781)

 

$

(3,415)



 

 

 

 

 

 

 

 



Summary of the changes in the equity investment in the unconsolidated joint ventures



 

 



 

 

(in thousands):

 

 

Balance at January 1, 2012

$

692 

Capital contributions in joint venture

 

714 

Distributions

 

(9)

Foreign currency transaction loss

 

(5)

Equity interest in net loss of joint ventures

 

(817)

Balance at December 31, 2012

$

575 

Capital contributions in joint venture

 

992 

Distributions

 

(171)

Foreign currency transaction loss

 

(12)

Purchase of investment

 

1,625 

Equity interest in net loss of joint ventures

 

(454)

Balance at December 31, 2013

$

2,555 

Capital contributions in joint venture

 

620 

Distributions

 

(221)

Foreign currency transaction loss

 

(11)

Impairment loss

 

(1,247)

Equity interest in net loss of joint ventures

 

(50)

Balance at December 31, 2014

$

1,646