Note D – Equity Interest Investments

The Company has a 50% interest in a joint venture, Stiga Sports AB (Stiga). The joint venture is accounted for under the equity method of accounting. Stiga, located in Sweden, is a global sporting goods company producing table tennis equipment, snow sleds, and game products. Financial information for Stiga reflected in the table below has been translated from local currency to U.S. dollars using exchange rates in effect at the respective period-end for balance sheet amounts, and using average exchange rates for statement of operations amounts. Certain differences exist between U.S. GAAP and local GAAP in Sweden, and the impact of these differences is not reflected in the summarized information reflected in the table below. The most significant difference relates to the accounting for goodwill for Stiga which is amortized over eight years in Sweden but is not amortized for U.S. GAAP reporting purposes. The goodwill for Stiga was fully amortized as of December 27, 2014. The effect on Stiga’s net assets resulting from the cumulative amortization of goodwill for the periods ended March 24, 2018 and March 25, 2017 are addbacks to Stiga’s consolidated financial information of $10.8 million and $10.1 million, respectively. These net differences are comprised of cumulative goodwill adjustments of $15.1 million offset by the related cumulative tax effect of $4.3 million as of March 24, 2018 and cumulative goodwill adjustments of $14.1 million offset by the related cumulative tax effect of $4.0 million as of March 25, 2017. The Company’s 50% portion of net loss for Stiga for the periods ended March 24, 2018 and March 25, 2017 was ($12) thousand and ($52) thousand, respectively, and is included in equity in loss of affiliates on the Company’s statements of operations.

Summarized financial information for Stiga Sports AB balance sheets as of March 24, 2018, December 30, 2017, and March 25, 2017 and statements of operations for the three months ended March 24, 2018 and March 25, 2017 is as follows:

In thousands	March 24, 2018		December 30, 2017		March 25, 2017

Current assets	$	29,841	$	30,623	$	27,931
Non-current assets		10,560		10,854		9,539
Total assets		40,401		41,477		37,470

Current liabilities		6,020		6,897		3,642
Non-current liabilities		5,429		5,462		5,376
Total liabilities		11,449		12,359		9,018

Net assets	$	28,952	$	29,118	$	28,452

	Three Months Ended
	March 24, 2018		March 25, 2017

Net sales	$	6,174	$	5,125
Gross profit		2,677		2,278
Net loss		(23)		(105)