Noncontrolling Interests

9 Months Ended

Sep. 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^st Century Pty Ltd.;

·	Shadow View Land and Farming, LLC 50% noncontrolling membership interest owned by Mr. James J. Cotter, Sr.; and

·	Sutton Hill Properties, LLC 25% noncontrolling interest owned by Sutton Hill Capital, LLC

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



		September 30, 2012		December 31, 2011
AFC LLC	$	1,593	$	1,125
Australian Country Cinemas		585		360
Coachella Land		2,644		--
Sutton Hill Properties		(83)		(250)
Noncontrolling interests in consolidated subsidiaries	$	4,739	$	1,235

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



		Three Months Ended September 30,				Nine Months Ended September 30,
		2012		2011		2012		2011
AFC LLC	$	174	$	192	$	467	$	566
Australian Country Cinemas		(1)		129		71		265
Coachella Land		(56)		--		(111)		--
Elsternwick unincorporated joint venture		--		--		--		25
Sutton Hill Properties		(84)		(68)		(278)		(189)
Net income attributable to noncontrolling interest	$	33	$	253	$	149	$	667

Coachella Land Purchase

During the 2012 Nine Months, 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 and to cover his 50% share of certain costs associated with that acquisition. This land is held in Shadow View Land and Farming, LLC, in which Mr. Cotter owns a 50% interest. We are the managing member of Shadow View Land and Farming, LLC. However, as Mr. Cotter is considered to be our controlling shareholder, 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		361		149		510
Increase in additional paid in capital		548		--		548
Contributions from noncontrolling stockholders		--		3,350		3,350
Accumulated other comprehensive income (loss)		4,695		5		4,700
Equity at – September 30, 2012	$	129,356	$	4,739	$	134,095


		Controlling Stockholders’ Equity		Noncontrolling Stockholders’ Equity		Total Stockholders’ Equity
Equity at – January 1, 2011	$	111,787	$	852	$	112,639
Net income		14,990		667		15,657
Increase in additional paid in capital		142		163		305
Treasury stock purchased		(328)		--		(328)
Distributions to noncontrolling stockholders		--		(655)		(655)
Sale of noncontrolling interest		--		(148)		(148)
Accumulated other comprehensive income		(6,569)		(4)		(6,573)
Equity at – September 30, 2011	$	120,022	$	875	$	120,897

- 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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