FIRSTCITY FINANCIAL CORP - 10-K filing on 2013-03-21

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

The following is a summary of the Company's combined ownership interests in unconsolidated equity-method subsidiaries at December 31, 2012 and 2011:

	Ownership Interests

	2012	2011
Acquisition Partnerships:
Domestic	10% - 50%	10% - 50%
Latin America	8% - 50%	8% - 50%
Europe	N/A	22% - 50%
Operating and Servicing Entities:
Domestic	39% - 49%	39% - 49%
Latin America	50%	50%
Europe	25%	16% - 37%

An analysis of the changes in the cumulative adjustments for 2012 and 2011 follows (dollars in thousands):


Balance, December 31, 2010	$	(740	)
Aggregate adjustment for the year resulting from translation adjustments and gains and losses on certain hedge transactions		(1,113	)

Balance, December 31, 2011		(1,853	)
Aggregate adjustment for the year resulting from translation adjustments and gains and losses on certain hedge transactions		1,319

Balance, December 31, 2012	$	(534	)

	Year Ended December 31,

(In thousands, except per share data)	2012		2011
Net earnings	$	19,048	$	33,041
Less: Net income attributable to noncontrolling interests		4,710		8,824

Net earnings attributable to FirstCity	$	14,338	$	24,217
Less: Net earnings allocable to participating securities		251		180

Net earnings allocable to common shares	$	14,087	$	24,037

Weighted-average common shares outstanding—basic		10,333		10,283
Dilutive effect of restricted stock shares		31		8
Dilutive effect of stock options		44		13

Weighted-average common shares outstanding—diluted		10,408		10,304

Net earnings per share:
Basic	$	1.36	$	2.34

Diluted	$	1.35	$	2.33