Noncontrolling Interest in Consolidated Subsidiary

12 Months Ended

Dec. 31, 2013

Noncontrolling Interest in Consolidated Subsidiary

Noncontrolling Interest in Consolidated Subsidiary

Note 10. Noncontrolling Interest in Consolidated Subsidiary

At December 31, 2013 and 2012, we owned 22,000,000, or approximately 44.2% and 56.0%, respectively, of SIR's outstanding common shares. SIR is a REIT that is focused on owning and investing in net leased, single tenant properties and was a 100% owned subsidiary of ours until the SIR IPO in March 2012, when it became a publicly owned company listed on the NYSE. We are SIR's largest shareholder and SIR was one of our consolidated subsidiaries until July 2, 2013. During the time that SIR was our majority owned consolidated subsidiary (from the date of the SIR IPO to July 2, 2013), the portion of SIR's equity that we did not own is reported as noncontrolling interest in our consolidated balance sheets, and the portion of SIR's net income not allocated to us is reported as noncontrolling interest in our consolidated statements of operations. See Note 12 for additional information regarding the SIR IPO and Note 6 for information regarding the deconsolidation of SIR.

The following table summarizes the changes in our ownership interest in SIR, while it was our consolidated subsidiary, and the effects on the equity attributable to us during the years ended December 31, 2013 and 2012:

			Effect on the Equity Attributable to CommonWealth REIT Common Shareholders

Year Ended December 31, 2012:
Increase in noncontrolling interest related to the SIR IPO in March 2012	70.5	%	($	23,857	)
Increase in noncontrolling interest related to the issuance of SIR common shares pursuant to its equity compensation plan in September 2012	70.4	%		(253	)
Increase in noncontrolling interest related to the issuance of SIR common shares in December 2012	56.0	%		(707	)


			($	24,817	)




Year Ended December 31, 2013:
Increase in noncontrolling interest related to the issuance of SIR common shares pursuant to its equity compensation plan in May 2013	55.99	%	$	32

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

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