Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest (Tables)

v2.4.0.8
Non-Controlling Interest (Tables)
9 Months Ended
Sep. 30, 2013
Noncontrolling Interest [Abstract]  
Analysis of Controlling and Non Controlling Interest

The following is an analysis of the controlling and non-controlling interest from April 23, 2013, the date of` the IPO, to September 30, 2013 (amounts in thousands):

 

     Controlling
Interest
    Non-Controlling
Interest Holders
    Total  

Equity immediately after IPO

   $ 161,838      $ —        $ 161,838   

Establishment of non-controlling interest during formation transaction

     (4,407     4,407        —     

Loss attributable to non-controlling interest holders

     (3,129     (90     (3,219

Equity-based compensation

     6,449        180        6,629   

Distributions

     (992     (28     (1,020

Change in accumulated other comprehensive income attributable to non-controlling interest holders

     (160     (4     (164
  

 

 

   

 

 

   

 

 

 

Total Equity – September 30, 2013

   $ 159,599      $ 4,465      $ 164,064   
  

 

 

   

 

 

   

 

 

 
Member Interests in Predecessor

The member interests of the Predecessor were represented by Series A Participating Preferred Units (“Preferred Units”) and Class A Common Units (“Common Units”). On October 10, 2012, the Company made a return of capital to the Preferred Units holders and paid all outstanding accrued distributions which reduced the Preferred Units’ capital and unpaid annual yield to zero. Prior to the IPO, the Preferred Units remained outstanding without a mandatory dividend and were pari passu with the Common Units for future distributions. For the period prior to April 23, 2013 and as of December 31, 2012, all profits, losses and cash distributions were allocated based on the percentages as follows:

 

     Prior to April 23,
2013
    December 31,
2012
 

MissionPoint HA Parallel Fund, L.P.

     70     70

Jeffrey W. Eckel, Chief Executive Officer

     18     18

Other management and employees of the Predecessor

     12     12