Noncontrolling interests

6 Months Ended

Jun. 30, 2011

Note 14 – Noncontrolling interests

Noncontrolling interests are composed of the following enterprises:

·	50% membership interest in Angelika Film Centers LLC ("AFC LLC") owned by a subsidiary of iDNA, Inc.;

·	25% noncontrolling interest in Australia Country Cinemas Pty Ltd ("ACC") owned by Panorama Cinemas for the 21st Century Pty Ltd.; and

·	25% noncontrolling interest in the Sutton Hill Properties, LLC owned by SHC.

The components of noncontrolling interests are as follows (dollars in thousands):

	June 30, 2011			December 31, 2010
AFC LLC	$	580		$	681
Australia Country Cinemas		196			162
Elsternwick unincorporated joint venture		--			176
Sutton Hill Properties		(188	)		(167	)
Noncontrolling interests in consolidated subsidiaries	$	588		$	852

The components of income attributable to noncontrolling interests are as follows (dollars in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
AFC LLC	$	181		$	153		$	373		$	345
Australia Country Cinemas		62			58			136			118
Elsternwick Unincorporated Joint Venture		1			15			25			43
Sutton Hill Properties		(63	)		(73	)		(120	)		(138	)
Net income attributable to noncontrolling interest	$	181		$	153		$	414		$	368

Elsternwick Sale

On April 14, 2011, we sold our 66.7% share of the 5-screen Elsternwick Classic cinema located in Melbourne, Australia to our joint venture partner for $1.9 million (AUS$1.8 million) and recognized a gain on sale of a discontinued operation of $1.7 million (AUS$1.6 million).

A summary of the changes in controlling and noncontrolling stockholders' equity is as follows (dollars in thousands):

	Reading International, Inc. Stockholders' Equity			Noncontrolling Interests			Total Stockholders' Equity
Equity at – January 1, 2011	$	111,787		$	852		$	112,639
Net income		14,952			414			15,366
Increase in additional paid in capital		94			--			94
Treasury stock purchased		(111	)		--			(111	)
Distributions to noncontrolling interests		--			(554	)		(554	)
Cinema sale to noncontrolling shareholder		--			(148	)		(148	)
Accumulated other comprehensive income		11,661			24			11,685
Equity at – June 30, 2011	$	138,383		$	588		$	138,971

	Reading International, Inc. Stockholders' Equity			Noncontrolling Stockholders' Equity			Total Stockholders' Equity
Equity at – January 1, 2010	$	108,889		$	1,374		$	110,263
Net income		(13,361	)		368			(12,993	)
Increase (decrease) in additional paid in capital		(604	)		113			(491	)
Treasury stock purchased		(251	)		--			(251	)
Distributions to noncontrolling interests		--			(751	)		(751	)
Accumulated other comprehensive income		(8,490	)		(20	)		(8,510	)
Equity at – June 30, 2010	$	86,183		$	1,084		$	87,267