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Joint Venture
12 Months Ended
Dec. 31, 2014
Less Than Wholly Owned Subsidiary [Abstract]  
Joint Venture
18. Joint Venture
On March 23, 2012, the Company entered into an agreement with Holley Metering Limited (“Holley Metering”), a designer and manufacturer of energy meters in China, to create a joint venture, Zhejiang Echelon-Holley Technology Co., Ltd. (“Echelon-Holley”). The joint venture's intended focus was on the development and sales of smart energy products for China and rest-of-world markets. The Company has a 51% ownership interest in the joint venture and exercises controlling influence. Therefore, Echelon-Holley’s accounts are included in the Company’s Consolidated Financial Statements as of December 31, 2014, and for the three years then ended. Holley Metering’s interests in Echelon-Holley’s net assets are reported in the noncontrolling interest in subsidiary on the Consolidated Balance Sheet as of December 31, 2014 and 2013. Net loss attributable to the noncontrolling interest in Echelon-Holley was $535,000, $808,000, and $363,000 during years ended December 31, 2014, 2013, and 2012, respectively.
As of December 31, 2014, Echelon and Holley Metering had contributed in cash a total of approximately $4,000,000 in Share Capital, as defined, to Echelon-Holley in proportion to their respective ownership interests.
In connection with the decision to sell the Grid business announced in the third quarter of 2014, the Company is in the process of selling the remaining net assets of the joint venture and has recorded the fair value of the assets and liabilities of the joint venture as held for sale on the accompanying balance sheet at December 31, 2014. The major classes of assets and liabilities classified as held for sale are inventory, deferred revenues and the related deferred costs of sales and accrued liabilities. In addition, the net loss attributable to the non-controlling interests have also been presented as part of discontinued operations in the consolidated statement of operations for the years ended December 31, 2014 and 2013.