Non-controlling Interests

9 Months Ended

Sep. 30, 2020

Non-controlling Interests [Abstract]

Non-controlling Interests

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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:

	September 30,		December 31,
(Dollars in thousands)	2020		2019
Australian Country Cinemas, Pty Ltd	$	32	$	119
Shadow View Land and Farming, LLC		2,127		2,145
Sutton Hill Properties, LLC		1,742		2,003
Noncontrolling interests in consolidated subsidiaries	$	3,901	$	4,267

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

	Quarter Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2020		2019		2020		2019
Australian Country Cinemas, Pty Ltd	$	(35)	$	32	$	(80)	$	69
Shadow View Land and Farming, LLC		(5)		(43)		(48)		(77)
Sutton Hill Properties, LLC		(84)		(39)		(261)		(95)
Net income (loss) attributable to noncontrolling interests	$	(124)	$	(50)	$	(389)	$	(103)

Summary of Controlling and Noncontrolling Stockholders’ Equity

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

	Common Shares								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, 2020	20,103	$	231	1,680	$	17	$	148,602	$	20,647	$	(39,737)	$	5,589	$	135,349	$	4,267	$	139,616
Net income (loss)	—		—	—		—		—		(5,875)		—		—		(5,875)		(81)		(5,956)
Other comprehensive income, net	—		—	—		—		—		—		—		(15,879)		(15,879)		(18)		(15,897)
Share-based compensation expense	—		—	—		—		336		—		—		—		336		—		336
Share repurchase plan	(75)		—	—		—		—		—		(670)		—		(670)		—		(671)
In-kind exchange of share for the exercise of options, net issued	—		—	—		—		—		—		—		—		—		—		—
Restricted Stock Units	19			—		—		(30)		—		—		—		(30)		—		(30)
Contributions from noncontrolling stockholders	—		—	—		—		—		—		—		—		—		—		—
Distributions to noncontrolling stockholders	—		—	—		—		—		—		—		—		—		—		—
At March 31, 2020	20,047	$	231	1,680	$	17	$	148,908	$	14,772	$	(40,407)	$	(10,290)	$	113,231	$	4,168	$	117,399
Net income	—		—	—		—		—		(22,703)		—		—		(22,703)		(185)		(22,888)
Other comprehensive income, net	—		—	—		—		—		—		—		10,707		10,707		9		10,716
Share-based compensation expense	—		—	—		—		369		—		—		—		369		—		369
Share repurchase plan	—		—	—		—		—		—		0		—		0		—		0
Class A common stock issued for share-based bonuses and options exercised	—		—	—		—		—		—		—		—		—		—		—
In-kind exchange of share for the exercise of options, net issued	—		—	—		—		—		—		—		—		—		—		—
Restricted Stock Units	21			—		—		(11)		—		—		—		(11)		—		(11)
Contributions from noncontrolling stockholders	—		—	—		—		—		—		—		—		—		—		—
Distributions to noncontrolling stockholders	—		—	—		—		—		—		—		—		—		—		—
At June 30, 2020	20,068		231	1,680		17		149,266		(7,931)		(40,407)		417		101,593		3,992		105,585
Net income	—		—	—		—		—		(19,228)		—		—		(19,228)		(124)		(19,352)
Other comprehensive income, net	—		—	—		—		—		—		—		3,587		3,587		3		3,590
Share-based compensation expense	—		—	—		—		358		—		—		—		358		—		358
Share repurchase plan	—		—	—		—		—		—		(0)		—		(0)		—		(0)
Class A common stock issued for share-based bonuses and options exercised	—		—	—		—		—		—		—		—		—		—		—
In-kind exchange of share for the exercise of options, net issued	—		—	—		—		—		—		—		—		—		—		—
Restricted Stock Units	1			—		—		(4)		—		—		—		(4)		—		(4)
Contributions from noncontrolling stockholders	—		—	—		—		—		—		—		—		—		30		30
Distributions to noncontrolling stockholders	—		—	—		—		—		—		—		—		—		—		—
At September 30, 2020	20,069	$	231	1,680	$	17	$	149,620	$	(27,159)	$	(40,407)	$	4,004	$	86,306	$	3,901	$	90,207

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	Common Shares								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, 2019	21,195	$	232	1,680	$	17	$	147,452	$	47,048	$	(25,222)	$	6,115	$	175,642	$	4,337	$	179,979
Net income (loss)	—		—	—		—		—		(2,124)		—		—		(2,124)		(16)		(2,140)
Adjustments to opening retained earnings on adoption of ASC 842	—		—	—		—		—		28		—		—		28		(46)		(18)
Other comprehensive income, net	—		—	—		—		—		—		—		1,510		1,510		1		1,511
Share-based compensation expense	—		—	—		—		280		—		—		—		280		—		280
Share repurchase plan	—		—	—		—		—		—		(9)		—		(9)		—		(9)
Class A common stock issued for share-based bonuses and options exercised	—		—	—		—		(185)		—		—		—		(185)		—		(185)
Restricted Stock Units	40		1	—		—		(75)		—		—		—		(74)		—		(74)
Contributions from noncontrolling stockholders	—		—	—		—		—		—		—		—		—		18		18
Distributions to noncontrolling stockholders	—		—	—		—		—		—		—		—		—		(27)		(27)
At March 31, 2019	21,235	$	233	1,680	$	17	$	147,472	$	44,952	$	(25,231)	$	7,625	$	175,068	$	4,267	$	179,335
Net income	—		—	—		—		—		2,331		—		—		2,331		(37)		2,294
Other comprehensive income, net	—		—	—		—		—		—		—		(2,346)		(2,346)		(1)		(2,347)
Share-based compensation expense	—		—	—		—		400		—		—		—		400		—		400
Share repurchase plan	(197)		—	—		—		—		—		(2,622)		—		(2,622)		—		(2,622)
Class A common stock issued for share-based bonuses and options exercised	—		—	—		—		—		—		—		—		—		—		—
In-kind exchange of share for the exercise of options, net issued	—		—	—		—		—		—		—		—		—		—		—
Restricted Stock Units	33		—	—		—		(31)		—		—		—		(31)		—		(31)
Contributions from noncontrolling stockholders	—		—	—		—		—		—		—		—		—		9		9
Distributions to noncontrolling stockholders	—		—	—		—		—		—		—		—		—		(15)		(15)
At June 30, 2019	21,071		233	1,680		17		147,841		47,283		(27,853)		5,279		172,800		4,223		177,023
Net income	—		—	—		—		—		851		—		—		851		(50)		801
Adjustments to opening retained earnings on adoption of ASC 842	—		—	—		—		—		—		—		(6,567)		(6,567)		(2)		(6,569)
Other comprehensive income, net	—		—	—		—		417		—		—		—		417		—		417
Share-based compensation expense	(660)		—	—		—		—		—		(8,690)		—		(8,690)		—		(8,690)
Share repurchase plan	—		—	—		—		—		—		—		—		—		—		—
Class A common stock issued for share-based bonuses and options exercised	—		—	—		—		—		—		—		—		—		—		—
In-kind exchange of share for the exercise of options, net issued	(6)		—	—		—		(22)		—		—		—		(22)		—		(22)
Restricted Stock Units	—		(2)	—		—		—		—		2		—		—		—		—
Contributions from noncontrolling stockholders	—		—	—		—		—		—		—		—		—		28		28
Distributions to noncontrolling stockholders	—		—	—		—		—		—		—		—		—		—		—
At September 30, 2019	20,405	$	231	1,680	$	17	$	148,236	$	48,134	$	(36,541)	$	(1,288)	$	158,789	$	4,199	$	162,988

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