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Note 8. Other Investments
12 Months Ended
Dec. 31, 2015
Notes  
Note 8. Other Investments

8.  Other Investments

 

At December 31, 2015 and December 31, 2014, the Company had an equity investment in Majestic with a carrying value of $152,000 and $168,000, respectively.  For years 2015, 2014 and 2013, the Company recorded $156,000, $79,000 and $(20,000), respectively, for its share of income (loss) from its investment in other income in the Consolidated Statements of Income.

 

In November 2012, the Company invested $500,000 in exchange for an approximate 4% interest in Pets Best Insurance Services, LLC (“Pets Best”), a third party administrator for pet insurance.  This investment is carried at cost.

 

At December 31, 2014 the Company had an equity investment in GAF with a carrying value of $1,815,000.  For the year ended 2014 the Company recorded $95,000 for its share of income from its investment in other income in the Consolidated Statements of Income.  On April 30, 2015, through a settlement with a former owner, AMIC increased its ownership in GAF from 40% to 80%.  Accordingly, the Company has included GAF’s consolidated assets and liabilities and results of operations, subsequent to April 30, 2015, in its consolidated financial results as of and for the periods ended December 31, 2015.  For the four months ended April 2015 the Company recorded $93,000 for its share of income from its investment in other income in the Consolidated Statements of Income.  See Note 2 for information regarding the acquisition of GAF.