Noncontrolling Interests

3 Months Ended

Mar. 31, 2012

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 21^stCentury Pty Ltd.;
50% interest in the Coachella Land purchase owned by Mr. James J. Cotter, Sr.; and
25% noncontrolling interest in the Sutton Hill Properties, LLC owned by SHC.

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


		March 31,			December 31,
		2012			2011
AFC LLC	$	1,303		$	1,125
Australian Country Cinemas		427			360
Coachella Land		2,734			--
Sutton Hill Properties		(339	)		(250	)
Noncontrolling interests in consolidated subsidiaries	$	4,125		$	1,235

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


		Three Months Ended
		March 31,
		2012			2011
AFC LLC	$	178		$	192
Australian Country Cinemas		63			74
Elsternwick unincorporated joint venture		--			24
Coachella Land		(21	)		--
Sutton Hill Properties		(90	)		(57	)
Net income attributable to noncontrolling interest	$	130		$	233

Coachella Land Purchase

During the 2012 Quarter, Mr. James J. Cotter, our Chairman, Chief Executive Officer and controlling shareholder contributed $2.5 million of cash and $255,000 of his 2011 bonus as his 50% share of the purchase price of a land parcel in Coachella, California. Pursuant to FASB ASC 810-10-05, we have consolidated Mr. Cotter's interest in the property and its expenses with that of our interest and shown his interest as a noncontrolling interest. See Note 6 – Property Acquired, Property Sold, Property Held for Sale, Property Held For and Under Development, and Property and Equipment.

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


		Controlling			Noncontrolling		Total
		Stockholders'			Stockholders'		Stockholders'
		Equity			Equity		Equity
Equity at – January 1, 2012	$	123,752		$	1,235	$	124,987
Net loss		(239	)		130		(109	)
Increase in additional paid in capital		180			--		180
Contributions from noncontrolling
stockholders		--			2,755		2,755
Accumulated other comprehensive income		4,056			5		4,061
Equity at – March 31, 2012	$	127,749		$	4,125	$	131,874


		Controlling			Noncontrolling			Total
		Stockholders'			Stockholders'			Stockholders'
		Equity			Equity			Equity
Equity at – January 1, 2011	$	111,787		$	852		$	112,639
Net loss		(2,480	)		233			(2,247	)
Increase in additional paid in capital		47			--			47
Distributions to noncontrolling stockholders		--			(141	)		(141	)
Accumulated other comprehensive income		3,056			7			3,063
Equity at – March 31, 2011	$	112,410		$	951		$	113,361

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

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