| Analysis of Controlling and Non-Controlling Interest |
The following is an analysis of the controlling and non-controlling
interest from December 31, 2013, to June 30, 2014:
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| |
|
Controlling
Interest |
|
|
Non-Controlling
Interest Holders |
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|
Total |
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| |
|
(amounts in
thousands) |
|
|
Total Non-Controlling Interest and
Equity—December 31, 2013
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|
$ |
146,525 |
|
|
$ |
4,099 |
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|
$ |
150,624 |
|
|
Net income attributable to interest holders
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|
|
5,581 |
|
|
|
107 |
|
|
|
5,688 |
|
|
Issuance of common stock
|
|
|
70,379 |
|
|
|
— |
|
|
|
70,379 |
|
|
Redemption of OP units
|
|
|
(557 |
) |
|
|
(1,064 |
) |
|
|
(1,621 |
) |
|
Repurchase of common stock
|
|
|
(205 |
) |
|
|
— |
|
|
|
(205 |
) |
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Equity-based compensation
|
|
|
1,938 |
|
|
|
32 |
|
|
|
1,970 |
|
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Distributions
|
|
|
(8,634 |
) |
|
|
(152 |
) |
|
|
(8,786 |
) |
|
Change in accumulated other comprehensive income
|
|
|
2,196 |
|
|
|
42 |
|
|
|
2,238 |
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Tax basis difference on contributed asset
|
|
|
1,818 |
|
|
|
39 |
|
|
|
1,857 |
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Redemption value change for non-controlling interest redeemable for
cash
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|
|
(1,815 |
) |
|
|
1,815 |
|
|
|
— |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
217,226 |
|
|
|
4,918 |
|
|
|
222,144 |
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Less Non-Controlling Interest Redeemable for cash
|
|
|
—
|
|
|
|
(4,918 |
) |
|
|
(4,918 |
) |
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|
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|
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|
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Total Non-Controlling Interest and Equity—June 30,
2014
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|
$ |
217,226 |
|
|
$ |
—
|
|
|
$ |
217,226 |
|
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The following is an analysis of the controlling and non-controlling
interest from April 23, 2013, the date of our IPO, to
June 30, 2013:
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| |
|
Controlling
Interest |
|
|
Non-Controlling
Interest Holders |
|
|
Total |
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| |
|
(amounts in
thousands) |
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Equity immediately after IPO
|
|
$ |
168,266 |
|
|
$ |
— |
|
|
$ |
168,266 |
|
|
Establishment of non-controlling interest during formation
transaction
|
|
|
(4,649 |
) |
|
|
4,649 |
|
|
|
— |
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|
Net loss attributable to interest holders
|
|
|
(4,972 |
) |
|
|
(141 |
) |
|
|
(5,113 |
) |
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Change in accumulated other comprehensive income
|
|
|
92 |
|
|
|
3 |
|
|
|
95 |
|
|
|
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|
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Total Non-Controlling Interest and Equity—June 30,
2013
|
|
$ |
158,737 |
|
|
$ |
4,511 |
|
|
$ |
163,248 |
|
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| Member Interests in Predecessor |
Allocation of Profit and Loss and Cash Distributions prior to
our IPO
Prior to the IPO, all profits, losses and cash distributions of the
Predecessor were allocated based on the percentages as follows:
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Prior to
April 23, 2013
|
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|
MissionPoint HA Parallel Fund, L.P.
|
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|
70 |
% |
|
Jeffrey W. Eckel, Chief Executive Officer
|
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|
18 |
% |
|
Other management and employees of the Predecessor
|
|
|
12 |
% |
|