Quarterly report pursuant to Section 13 or 15(d)

Noncontrolling Interest

v2.4.0.8
Noncontrolling Interest
3 Months Ended
Mar. 31, 2014
Noncontrolling Interest [Abstract]  
Noncontrolling Interest
Noncontrolling Interest
Effective July 3, 2013, the Company received approval from the Chinese government to increase its majority interest in Rimage Information Technology (Shanghai) Co., Ltd. ("RIT") from 51% to 100% by acquiring the remaining common stock from Taiwan Electronic Data Processing for $50,000. The acquisition of the additional shares in RIT was accounted for as an equity transaction in accordance with the accounting standards on noncontrolling interests outlined in ASC 810. As a result of the shares acquired, RIT is now a 100% owned subsidiary of Qumu. The Company continues to consolidate the financial statements of RIT with its consolidated financial statements; however, commencing on July 3, 2013, there is no noncontrolling interest.
The following table sets forth the changes in noncontrolling interest (in thousands):
 
 
Three Months Ended 
 March 31,
 
 
2014
 
2013
Balance at beginning of period
 
$

 
$
103

Net loss attributable to noncontrolling interest
 

 
(62
)
Foreign currency translation attributable to noncontrolling interest
 

 

Balance at end of period
 
$

 
$
41