XML 13 R9.htm IDEA: XBRL DOCUMENT

4. OTHER INVESTMENTS

6 Months Ended

Jun. 30, 2014

4. OTHER INVESTMENTS

As of June 30, 2014, the Company’s portfolio of other investments had an aggregate carrying value of approximately $4 million and we have commitments to fund approximately $1.8 million as required by agreements with the investees. The carrying value of these investments is equal to contributions less distributions and loss valuation adjustments. During the six months ended June 30, 2014, cash distributions received from other investments totaled approximately $211,000 from several investments in privately owned partnerships owning diversified operating companies. During the six months ended June 30, 2014, the Company made contributions to other investments of approximately $847,000. This consisted primarily of two new investments of $300,000 each, one of $100,000 and various follow on contributions totaling approximately $147,000.

Net income from other investments for the three and six months ended June 30, 2014 and 2013, is summarized below:

	Three months ended June 30,					Six months ended June 30,
Description	2014			2013		2014		2013
Partnerships owning diversified businesses	$	74,000		$	14,000	$	77,000	$	40,000
Partnerships owning real estate and related		—			8,000		1,000		41,000
Income from investment in 49% owned affiliate (T.G.I.F. Texas, Inc.)		(2,000	)		32,000		6,000		62,000
Total net income from other investments (excluding other than temporary impairment losses)	$	72,000		$	54,000	$	84,000	$	143,000

The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2014 and December 31, 2013, aggregated by investment category and the length of time that investments have been in a continuous loss position:

	As of June 30, 2014
	12 Months or less					Greater than 12 Months					Total
Investment Description	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Partnerships owning investments in technology related industries		—		—		$	370,000	$	(56,000	)	$	370,000	$	(56,000	)
Partnerships owning real estate and related investments		—		—			211,000		(7,000	)		211,000		(7,000	)
Other investments	$	231,000	$	(19,000	)		—		—			231,000		(19,000	)
Total	$	231,000	$	(19,000	)	$	581,000	$	(63,000	)	$	812,000	$	(82,000	)

	As of December 31, 2013
	Less than 12 Months				Greater than 12 Months					Total
Investment Description	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Partnerships owning investments in technology related industries	$	—	$	—	$	346,000	$	(76,000	)	$	346,000	$	(76,000	)
Partnerships owning real estate and related investments		—		—		246,000		(11,000	)		246,000		(11,000	)
Total	$	—	$	—	$	592,000	$	(87,000	)	$	592,000	$	(87,000	)

When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and any changes thereto, and the Company’s intent to sell, or whether it is more likely than not it will be required to sell, the investment before recovery of the investment’s amortized cost basis.

In accordance with ASC Topic 320-10-65, Recognition and Presentation of Other-Than-Temporary Impairments there were no OTTI impairment valuation adjustments for the three and six months ended June 30, 2014 and 2013.