Redeemable Noncontrolling Interest

9 Months Ended

Sep. 30, 2017

Redeemable Noncontrolling Interest, Equity, Carrying Amount [Abstract]

Noncontrolling Interest Disclosure [Text Block]

Note 6 – Redeemable Noncontrolling Interest

As discussed in Note 1 - Summary of Significant Accounting Policies, in July 2014, we purchased a controlling interest in PSL. Included in the transaction documents was a put/call option deed that granted us an option to purchase the shares held by the noncontrolling interest, and granted the holder of the noncontrolling interest an option to require us to purchase its shares in one or two transactions. The put/call option deed in this transaction was considered an equity contract and therefore a financial instrument under the accounting guidance. In applying the guidance for this transaction, we determined that the financial instrument was embedded in the noncontrolling interest. As a public company, we were required to classify the noncontrolling interest and the embedded financial instrument as redeemable noncontrolling interest in a separate section of our Consolidated Balance Sheets, between liabilities and equity.

On June 29, 2017, we purchased the remaining 40% interest in PSL. The actual redemption value exceeded the carrying amount, and we recorded an adjustment to Additional paid in capital as there were no retained earnings attributable to the noncontrolling interest.

The table below presents the changes in Redeemable noncontrolling interest (in thousands):

	September 30,
	2017			2016
Redeemable noncontrolling interest, beginning of period	$	2,287		$	2,665
Redemption value adjustment of noncontrolling interest	360			—
Net loss attributable to noncontrolling interest	(294		)	(309		)
Other comprehensive income attributable to noncontrolling interest	220			111
Less: purchase of redeemable noncontrolling interest	2,573			—
Redeemable noncontrolling interest, end of period	$	—		$	2,467