Noncontrolling Interest Of Common And Redeemable Preferred Units In SLP

6 Months Ended

Jun. 30, 2013

Noncontrolling Interest Of Common And Redeemable Preferred Units In SLP [Abstract]

Noncontrolling Interest Of Common And Redeemable Preferred Units In SLP

Noncontrolling Interest of Common and Redeemable Preferred Units in SLP

At June 30, 2013 and 2012, 0 and 11,424, respectively, of SLP’s preferred operating partnership units (“Preferred OP Units”) were outstanding. The Preferred OP Units received a preferred dividend distribution of $1.10 per preferred unit annually, payable on a monthly basis and did not participate in the allocations of profits and losses of SLP. All holders elected to have their units redeemed on October 24, 2012. In October 2012, the 11,424 units were redeemed at $10 each.

As of June 30, 2013 and 2012, 97,008 Common OP Units were outstanding.

Equity Reconciliation of Parent and Noncontrolling Interest

(dollars in thousands)
	Preferred		Preferred								Distribution				Noncontrolling
	A		C		Common		Common		Additional		in excess of		Net		interest in
	shares		shares		stock		shares		paid - in		retained		shareholders'		consolidated		Total
	par value		par value		warrants		par value		capital		earnings		equity		partnerships		equity
Balance at
December 31, 2012	$	8	$	30	$	252	$	29	$	134,994	$	(98,777)	$	36,536	$	115	$	36,651
Stock-based
compensation		0		0		0		0		23		0		23		0		23
Warrant expiration		0		0		(252)		0		252		0		0		0		0
Preferred dividends		0		0		0		0		0		(1,674)		(1,674)		0		(1,674)
Net loss		0		0		0		0		0		(1,684)		(1,684)		(3)		(1,687)
Balance at
June 30, 2013	$	8	$	30	$	0	$	29	$	135,269	$	(102,135)	$	33,201	$	112	$	33,313