Noncontrolling Interests

6 Months Ended

Jun. 30, 2012

Note 14 – Noncontrolling interests

Noncontrolling interests are composed of the following enterprises:

Angelika Film Centers LLC ("AFC LLC") 50% membership interest owned by a subsidiary of iDNA, Inc.;
Australia Country Cinemas Pty Ltd ("ACC") 25% noncontrolling interest owned by Panorama Cinemas for the 21^stCentury Pty Ltd.;
Coachella Land 50% interest owned by Mr. James J. Cotter, Sr.; and
Sutton Hill Properties, LLC 25% noncontrolling interest owned by SHC.

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


	June 30, 2012			December 31, 2011
AFC LLC	$	1,419		$	1,125
Australian Country Cinemas		578			360
Coachella Land		2,699			-
Sutton Hill Properties		(74	)		(250	)
Noncontrolling interests in consolidated subsidiaries	$	4,622		$	1,235

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
AFC LLC	$	116		$	181		$	294		$	373
Australian Country Cinemas		9			62			72			136
Coachella Land		(34	)		-			(56	)		-
Elsternwick unincorporated joint venture		-			1			-			25
Sutton Hill Properties		(106	)		(63	)		(194	)		(120	)
Net income (loss) attributable to noncontrolling interest	$	(15	)	$	181		$	116		$	414

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.

Summary of Controlling and Noncontrolling Stockholders' Equity

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


	Controlling Stockholders' Equity			Noncontrolling Stockholders' Equity			Total Stockholders' Equity
Equity at – January 1, 2012	$	123,752		$	1,235		$	124,987
Net income (loss)		(3	)		116			113
Increase in additional paid in capital		521			-			521
Contributions from noncontrolling stockholders		-			3,275			3,275
Accumulated other comprehensive income (loss)		938			(4	)		934
Equity at – June 30, 2012	$	125,208		$	4,622		$	129,830


	Controlling Stockholders' Equity			Noncontrolling Stockholders' Equity			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 stockholders		-			(554	)		(554	)
Sale of noncontrolling interest		-			(148	)		(148	)
Accumulated other comprehensive income		11,661			24			11,685
Equity at – June 30, 2011	$	138,383		$	588		$	138,971

- 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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