NOTE 11—NONCONTROLLING INTERESTS
Effective June 1, 2010, we adopted the FASB guidance on noncontrolling interests. The following table details the components of redeemable noncontrolling interests for the fiscal years ended 2011 and 2010:
|
|
|
|
|
|
|
|
|
|
|
2011 |
|
|
2010 |
|
|
|
(in thousands) |
|
Beginning balance |
|
$ |
102,672 |
|
|
$ |
399,377 |
|
Acquisition of redeemable noncontrolling interest |
|
|
— |
|
|
|
(307,675 |
) |
Net income attributable to redeemable noncontrolling interests |
|
|
9,592 |
|
|
|
7,763 |
|
Distributions to redeemable noncontrolling interest |
|
|
— |
|
|
|
(11,896 |
) |
Foreign currency translation adjustments |
|
|
(10,826 |
) |
|
|
— |
|
Increase in fair value of redeemable noncontrolling interests |
|
|
32,420 |
|
|
|
15,103 |
|
|
|
|
|
|
|
|
|
|
Ending balance |
|
$ |
133,858 |
|
|
$ |
102,672 |
|
|
|
|
|
|
|
|
|
|
For the fiscal years ended 2011, 2010 and 2009, net income included in the consolidated statements of changes in shareholders' equity is reconciled to net income presented in the consolidated statements of income as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2011 |
|
|
2010 |
|
|
2009 |
|
|
|
(in thousands) |
|
Net income attributable to Global Payments |
|
$ |
209,238 |
|
|
$ |
203,317 |
|
|
$ |
37,217 |
|
Net income attributable to nonredeemable noncontrolling interests |
|
|
9,326 |
|
|
|
8,029 |
|
|
|
7,471 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subtotal |
|
|
218,564 |
|
|
|
211,346 |
|
|
|
44,688 |
|
Net income attributable to redeemable noncontrolling interest |
|
|
9,592 |
|
|
|
7,763 |
|
|
|
29,490 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income including noncontrolling interest |
|
$ |
228,156 |
|
|
$ |
219,109 |
|
|
$ |
74,178 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|