XML 33 R14.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Equity Method Investment
6 Months Ended
Jun. 30, 2011
Equity Method Investment  
Equity Method Investment

6.  EQUITY METHOD INVESTMENT

 

On May 24, 2010, the Company entered into a membership interest purchase agreement to acquire a 10% membership interest in Structural Soft, LLC (Structural Soft) for $1,500,000.  Structural Soft is a developer of software used in the design of residential construction projects.  The investment was accounted for using the equity method of accounting, under which the Company's share of the earnings of the investee was recognized in income as earned and distributions are credited against the investment when received.  The Company's proportionate share in the net assets of Structural Soft and an equity-method intangible asset aggregated $1,345,000 at December 31, 2010.

 

The Company sold the membership interest in Structural Soft on March 10, 2011 as a part of the transaction to sell the stock of the United Steel Products business as disclosed in Note 15.