NET GAIN ON SALE AND IMPAIRMENT OF ASSETS

9 Months Ended

Sep. 27, 2014

NET GAIN ON SALE AND IMPAIRMENT OF ASSETS [Abstract]

NET GAIN ON SALE AND IMPAIRMENT OF ASSETS

I. NET GAIN ON SALE AND IMPAIRMENT OF ASSETS

During the third quarter of 2014, the net gain on disposition and impairment of assets totaled $2.6 million.  Included within the $2.6 million net gain was a gain on the sale of certain real estate totaling $2.7 million completed by a 50% owned subsidiary of the Company.    After considering the $1.35 million non-controlling interest and income taxes, net earnings attributable to controlling interests increased by approximately $700,000 as a result of these transactions.  In the first nine months of 2014, we recognized a net gain on the sale of assets of $4.6 million, which was offset by a $1.2 million impairment loss recorded to reduce the value of one of our vacant properties.