Annual report pursuant to Section 13 and 15(d)

Fair Value of Other Securities (Tables)

v2.4.1.9
Fair Value of Other Securities (Tables)
12 Months Ended
Dec. 31, 2014
Fair Value Disclosures [Abstract]  
Assets and liabilities measured on a recurring basis
December 31, 2014
 
 
December 31, 2014
 
Fair Value
 
 
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
 
Other equity securities
 
$
9,572,181

 
$

 
$

 
$
9,572,181

Total Assets
 
$
9,572,181

 
$

 
$

 
$
9,572,181

December 31, 2013
 
 
December 31, 2013
 
Fair Value
 
 
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
 
Other equity securities
 
23,304,321

 

 

 
23,304,321

Total Assets
 
$
23,304,321

 
$

 
$

 
$
23,304,321


The changes for all Level 3 assets measured at fair value on a recurring basis using significant unobservable inputs
The changes for all Level 3 securities measured at fair value on a recurring basis using significant unobservable inputs for the years ended December 31, 2014, and December 31, 2013 are as follows:
Level 3 Rollforward
For the Year Ended 12/31/14
 
Fair Value Beginning Balance
 
Acquisitions
 
Disposals
 
Total Realized and Unrealized Gains Included in Net Income
 
Return of Capital Adjustments Impacting Cost Basis of Securities
 
Fair Value Ending Balance
 
Changes in Unrealized Gains, Included In Net Income, Relating to Securities Still Held (1)
Other equity securities
 
$
23,304,321

 
$

 
$
(13,245,379
)
 
$
139,612

 
$
(981,373
)
 
$
9,217,181

 
$
139,612

Warrant investment
 

 
97,500

 

 
257,500

 

 
355,000

 
257,500

Total
 
$
23,304,321

 
$
97,500

 
$
(13,245,379
)
 
$
397,112

 
$
(981,373
)
 
$
9,572,181

 
$
397,112

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the Year Ended 12/31/13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other equity securities
 
$
19,707,126

 
$

 
$

 
$
5,292,890

 
$
(1,695,695
)
 
$
23,304,321

 
$
5,292,890

Total
 
$
19,707,126

 
$

 
$

 
$
5,292,890

 
$
(1,695,695
)
 
$
23,304,321

 
$
5,292,890

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(1) Located in Net realized and unrealized gain on other equity securities in the Consolidated Statements of Income
Carrying and Fair Value Amounts
Carrying and Fair Value Amounts
 
 
 
 
 
 
 
 
 
 
 
 
Level within fair value hierarchy
 
December 31, 2014
 
December 31, 2013
 
 
 
Carrying
Amount
 
Fair Value
 
Carrying
Amount
 
Fair Value
Financial Assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
Level 1
 
$
7,578,164

 
$
7,578,164

 
$
17,963,266

 
$
17,963,266

Escrow receivable
 
Level 2
 
$
2,438,500

 
$
2,438,500

 
$

 
$

Financing notes receivable
 
Level 2
 
$
20,687,962

 
$
20,687,962

 
$

 
$

Financial Liabilities:
 
 
 
 
 
 
 
 
Long-term debt
 
Level 2
 
$
67,060,000

 
$
67,060,000

 
$
70,000,000

 
$
70,000,000

Line of credit
 
Level 2
 
$
32,141,277

 
$
32,141,277

 
$
81,935

 
$
81,935

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques


Certain condensed combined financial information of th
Condensed Financial Information of Unconsolidated Affiliates
As of both December 31, 2014 and December 31, 2013, the Company held a 6.7 percent equity interest in Lightfoot. As of December 31, 2013, the Company held a 11.1 percent equity interest in Vantacore.


Certain condensed combined financial information of the unconsolidated affiliates, Lightfoot, is presented in the following tables.

Assets
 
December 31, 2014
 
December 31, 2013
Current assets
 
$
25,783,000

 
$
23,535,000

Noncurrent assets
 
385,256,000

 
392,062,000

Total Assets
 
$
411,039,000

 
$
415,597,000

Liabilities
 
 
 
 
Current liabilities
 
$
14,317,000

 
$
15,342,000

Noncurrent liabilities
 
113,810,000

 
105,563,000

Total Liabilities
 
$
128,127,000

 
$
120,905,000

 
 
 
 
 
Partner's equity
 
282,912,000

 
294,692,000

Total liabilities and partner's equity
 
$
411,039,000

 
$
415,597,000

 
 
For the Year Ending
 
 
December 31, 2014
 
December 31, 2013
Revenues
 
$
54,906,000

 
$
47,841,000

Operating expenses
 
56,482,000

 
41,254,000

Other income (expenses)
 
10,632,000

 
12,907,000

Net income
 
$
9,056,000

 
$
19,494,000

 
 
 
 
 
EBITDA
 
$
25,753,000

 
$
39,184,000