Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

v3.3.0.814
Stockholders' Equity
 9 Months Ended
Sep. 30, 2015
Equity [Abstract]  
Stockholders' Equity

(4)

STOCKHOLDERS’ EQUITY

On September 24, 2015, the Company’s stockholders approved an amendment to its Certificate of Incorporation to increase the authorized number of Class A Common Stock from 100 million shares to 500 million shares and Class B Common Stock from 60 million shares to 75 million shares. The amendment increasing the Company’s authorized common stock became effective with the filing of the Certificate of Amendment with the Secretary of State of the State of Delaware on September 24, 2015.

During the three months ended September 30, 2015, 1,908,000 shares of Class B common stock were converted into shares of Class A common stock. During the three months ended September 30, 2014, no shares of Class B common stock were converted into shares of Class A common stock. During the nine months ended September 30, 2015, 5,131,296 shares of Class B common stock were converted into shares of Class A common stock. During the nine months ended September 30, 2014, 899,328 shares of Class B common stock were converted into shares of Class A common stock.

The following table reconciles equity attributable to noncontrolling interests (in thousands):

 

 

 

Nine Months Ended September 30,

 

 

 

2015

 

 

2014

 

Non-controlling interests, beginning of period

 

$

58,858

 

 

$

49,598

 

Net earnings attributable to non-controlling interests

 

 

20,093

 

 

 

9,450

 

Foreign currency translation adjustment

 

 

(2,323

)

 

 

(138

)

Capital contribution by non-controlling interests

 

 

485

 

 

 

83

 

Capital distribution to non-controlling interests

 

 

(37,090

)

 

 

(3,250

)

Non-controlling interests, end of period

 

$

40,023

 

 

$

55,743