Investments In Unconsolidated Joint Ventures And Entities

9 Months Ended

Sep. 30, 2011

Investments In Unconsolidated Joint Ventures And Entities [Abstract]

Investments In Unconsolidated Joint Ventures And Entities

Note 7 – Investments in Unconsolidated Joint Ventures and Entities

Our investments in unconsolidated joint ventures and entities are accounted for under the equity method of accounting except for Rialto Distribution, which is accounted for as a cost method investment, and, as of September 30, 2011 and December 31, 2010, included the following (dollars in thousands):

	Interest	September 30, 2011	December 31, 2010
Rialto Distribution	33.3 %	$ --	$ --
Rialto Cinemas	50.0 %	4,491	4,580
205-209 East 57^th Street Associates, LLC	25.0 %	33	--
Mt. Gravatt Cinema	33.3 %	6,118	5,835
Total investments		$ 10,642	$ 10,415

For the three and nine months ended September 30, 2011 and 2010, we recorded our share of equity earnings (loss) from our investments in unconsolidated joint ventures and entities as follows (dollars in thousands):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2011	2010	2011	2010
Rialto Distribution	$ 234	$ 53	$ 346	$ 89
Rialto Cinemas	(35)	23	(87)	107
205-209 East 57^th Street Associates, LLC	--	--	33	--
Mt. Gravatt Cinema	255	217	795	714
Total equity earnings	$ 454	$ 293	$ 1,087	$ 910

The 3-screen complex in Christchurch, New Zealand owned by our Rialto Cinemas joint venture entity ("Rialto Cinemas"), was damaged as a result of the devastating earthquake suffered by that city on February 22, 2011, and has been closed since that date. Pursuant to the lease on this property, in May 2011, Rialto Cinemas gave notice to the landlord that Rialto Cinemas would be terminating the cinema lease.

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

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