Non-controlling Interests

6 Months Ended

Jun. 30, 2022

Non-controlling Interests [Abstract]

Non-controlling Interests

Note 15 – Non-controlling Interests

These are composed of the following enterprises:

Australia Country Cinemas Pty Ltd. - 25% noncontrolling interest owned by Panorama Group International Pty Ltd.:

Shadow View Land and Farming, LLC - 50% noncontrolling membership interest owned by the estate of Mr. James J. Cotter, Sr. (the “Cotter Estate”); and,

Sutton Hill Properties, LLC - 25% noncontrolling interest owned by Sutton Hill Capital, LLC (which in turn is 50% owned by the Cotter Estate).

The components of noncontrolling interests are as follows:

	June 30,		December 31,
(Dollars in thousands)	2022		2021
Australian Country Cinemas, Pty Ltd	$	63	$	48
Shadow View Land and Farming, LLC		—		(4)
Sutton Hill Properties, LLC		776		942
Noncontrolling interests in consolidated subsidiaries	$	839	$	986

The components of income attributable to noncontrolling interests are as follows:

	Quarter Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2022		2021		2022		2021
Australian Country Cinemas, Pty Ltd	$	72	$	(17)	$	62	$	41
Shadow View Land and Farming, LLC		—		14		(1)		3,166
Sutton Hill Properties, LLC		(79)		(105)		(166)		(213)
Net income (loss) attributable to noncontrolling interests	$	(7)	$	(108)	$	(105)	$	2,994

On March 5, 2021, Shadow View Land and Farming, LLC, sold its only asset, being certain land holdings in Coachella, California, for $11.0 million and is currently in the process of winding up and liquidating. See Note 6.

Summary of Controlling and Noncontrolling Stockholders’ Equity

A summary of the changes in controlling and noncontrolling stockholders’ equity is as follows:

	Common Stock								Retained				Accumulated		Reading
	Class A	Class A		Class B	Class B		Additional		Earnings				Other		International Inc.				Total
	Non-Voting	Par		Voting	Par		Paid-In		(Accumulated		Treasury		Comprehensive		Stockholders’		Noncontrolling		Stockholders’
(Dollars in thousands, except shares)	Shares	Value		Shares	Value		Capital		Deficit)		Shares		Income (Loss)		Equity		Interests		Equity
At January 1, 2022	20,260	$	233	1,680	$	17	$	151,981	$	(12,632)	$	(40,407)	$	4,882	$	104,074	$	986	$	105,060
Net income (loss)	—		—	—		—		—		(15,354)		—		—		(15,354)		(99)		(15,453)
Other comprehensive income, net	—		—	—		—		—		—		—		3,524		3,524		1		3,525
Share-based compensation expense	—		—	—		—		415		—		—		—		415		—		415
Restricted Stock Units	52		1	—		—		(32)		—		—		—		(31)		—		(31)
Distributions to noncontrolling stockholders	—		—	—		—		—		—		—		—		—		(22)		(22)
At March 31, 2022	20,312	$	234	1,680	$	17	$	152,364	$	(27,986)	$	(40,407)	$	8,406	$	92,628	$	866	$	93,494
Net income	—		—	—		—		—		(2,436)		—		—		(2,436)		(7)		(2,443)
Other comprehensive income, net	—		—	—		—		—		—		—		(9,218)		(9,218)		1		(9,217)
Share-based compensation expense	—		—	—		—		466		—		—		—		466		—		466
Restricted Stock Units	49		—	—		—		(52)		—		—		—		(52)		—		(52)
Distributions to noncontrolling stockholders	—		—	—		—		—		—		—		—		—		(21)		(21)
At June 30, 2022	20,361		234	1,680		17		152,778		(30,422)		(40,407)		(812)		81,388		839		82,227

	Common Stock								Retained				Accumulated		Reading
	Class A	Class A		Class B	Class B		Additional		Earnings				Other		International Inc.				Total
	Non-Voting	Par		Voting	Par		Paid-In		(Accumulated		Treasury		Comprehensive		Stockholders’		Noncontrolling		Stockholders’
(Dollars in thousands, except shares)	Shares	Value		Shares	Value		Capital		Deficit)		Shares		Income (Loss)		Equity		Interests		Equity
At January 1, 2021	20,069	$	231	1,680	$	17	$	149,979	$	(44,553)	$	(40,407)	$	12,502	$	77,769	$	3,404	$	81,173
Net income (loss)	—		—	—		—		—		18,965		—		—		18,965		3,102		22,067
Other comprehensive income, net	—		—	—		—		—		—		—		(2,545)		(2,545)		—		(2,545)
Share-based compensation expense	—		—	—		—		464		—		—		—		464		—		464
Restricted Stock Units	52		1	—		—		(111)		—		—		—		(110)		—		(110)
Distributions to noncontrolling stockholders	—		—	—		—		—		—		—		—		—		(5,300)		(5,300)
At March 31, 2021	20,121	$	232	1,680	$	17	$	150,332	$	(25,588)	$	(40,407)	$	9,957	$	94,543	$	1,206	$	95,749
Net income	—		—	—		—		—		22,702		—		—		22,702		(108)		22,594
Other comprehensive income, net	—		—	—		—		—		—		—		(1,592)		(1,592)		—		(1,592)
Share-based compensation expense	—		—	—		—		450		—		—		—		450		—		450
Restricted Stock Units	4		—	—		—		(2)		—		—		—		(2)		—		(2)
At June 30, 2021	20,125		232	1,680		17		150,780		(2,886)		(40,407)		8,365		116,101		1,098		117,199