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Noncontrolling Interests
 12 Months Ended
Dec. 31, 2017
Noncontrolling Interests  
Noncontrolling Interests

6.  Noncontrolling Interests

 

Papa John’s has five joint ventures in which there are noncontrolling interests held by third parties. These joint ventures included 246 restaurants as of December 31, 2017, 222 restaurants at December 25, 2016, and 213 restaurants at December 27, 2015.  The income before income taxes attributable to these joint ventures for the years ended December 31, 2017, December 25, 2016 and December 27, 2015 were as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

2017

    

2016

    

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Papa John’s International, Inc.

 

$

7,181

 

$

9,913

 

$

9,725

 

 

Noncontrolling interests

 

 

4,233

 

 

6,272

 

 

6,282

 

 

Total income before income taxes

 

$

11,414

 

$

16,185

 

$

16,007

 

 

 

The noncontrolling interest holders of two joint ventures have the option to require the Company to purchase their interests. Since redemption of the noncontrolling interests is outside of the Company’s control, the noncontrolling interests are presented in the caption “Redeemable noncontrolling interests” in the consolidated balance sheets.

 

The following summarizes changes in our redeemable noncontrolling interests in 2017 and 2016 (in thousands):

 

 

 

 

 

 

Balance at December 27, 2015

    

$

8,363

 

Net income

 

 

3,665

 

Distributions

 

 

(3,000)

 

Change in redemption value

 

 

(567)

 

Balance at December 25, 2016

    

$

8,461

 

Net income

 

 

2,195

 

Distributions

 

 

(2,499)

 

Change in redemption value

 

 

(1,419)

 

Balance at December 31, 2017

 

$

6,738