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Joint Venture
6 Months Ended
Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]  
Joint Venture
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 51.0% ownership interest in the joint venture and exercises controlling influence. Therefore, Echelon-Holley’s accounts are included in the Company’s Condensed Consolidated Financial Statements as of June 30, 2015 and 2014, and for the three and six months then ended. Holley Metering’s interests in Echelon-Holley’s net assets are reported in the non-controlling interest in subsidiary on the Condensed Consolidated Balance Sheet as of June 30, 2015. Net loss attributable to the non-controlling interest in Echelon-Holley was nil and $239,000 during three months ended June 30, 2015 and 2014, respectively, and nil and $356,000 during the six months ended June 30, 2015 and 2014, respectively.
As of June 30, 2015, Echelon and Holley Metering had contributed in cash a total of approximately $4.0 million 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 assets and liabilities of the joint venture at the lower of their carrying amount or fair value less cost to sell and has classified them as held for sale on the accompanying balance sheet at June 30, 2015. 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 losses attributable to the non-controlling interest have also been presented as part of discontinued operations in the condensed consolidated statement of operations for the three and six months ended June 30, 2015 and 2014.