|
OTHER INVESTMENTS (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Investments, All Other Investments [Abstract] |
|
| Schedule of summary of company's other investments |
| |
|
Carrying values as of December 31, |
|
| Investment Focus |
|
2013 |
|
|
2012 |
|
| |
|
|
|
|
|
|
| Venture capital funds – technology and communications |
|
$ |
473,000 |
|
|
$ |
514,000 |
|
| |
|
|
|
|
|
|
|
|
| Venture capital funds – diversified businesses |
|
|
1,098,000 |
|
|
|
1,337,000 |
|
| |
|
|
|
|
|
|
|
|
| Real estate and related |
|
|
1,409,000 |
|
|
|
1,453,000 |
|
| |
|
|
|
|
|
|
|
|
| Other |
|
|
325,000 |
|
|
|
300,000 |
|
| |
|
|
|
|
|
|
|
|
| Totals |
|
$ |
3,304,000 |
|
|
$ |
3,604,000 |
|
|
| Schedule of summary of net income from other investments |
| |
|
2013 |
|
|
2012 |
|
| Income from investment in 49% owned affiliate (a) |
|
$ |
94,000 |
|
|
$ |
57,000 |
|
| Real estate and related (b) |
|
|
40,000 |
|
|
|
223,000 |
|
| Venture capital funds – diversified businesses (c) |
|
|
104,000 |
|
|
|
121,000 |
|
| Other |
|
|
10,000 |
|
|
|
— |
|
| Total net income from other investments |
|
$ |
248,000 |
|
|
$ |
401,000 |
|
(a) This gain represents income from the Company’s 49% owned affiliate, T.G.I.F. Texas, Inc. (“TGIF”). The increase in income is due to increased net income of TGIF as a result of higher investment income. In 2013 and 2012 TGIF declared and paid a cash dividend, the Company’s portion of which was approximately $196,000 each year. These dividends were recorded as reduction in the investment carrying value as required under the equity method of accounting for investments.
(b) The gain in 2013 and 2012 consists primarily of cash distributions from an investment in real estate partnership which distributed proceeds from sales of its real estate.
(c) The gain in 2013 and 2012 consists of cash distributions from various investments in partnerships owning diversified businesses which made cash and stock distributions from the sale or refinancing of operating companies and/or distributions from operating activities. |
| Schedule of fair value of separate accounts by major category of investment |
| |
|
2013 |
|
|
2012 |
|
| Technology and related |
|
($ |
50,000 |
) |
|
|
— |
|
| Real estate and related |
|
|
— |
|
|
($ |
28,000 |
) |
| Total other than temporary impairment loss from other investments |
|
($ |
50,000 |
) |
|
($ |
28,000 |
) |
|
| Schedule of unrealized loss on investments |
| |
|
As of December 31, 2013 |
|
| |
|
Less than 12 Months |
|
|
Greater than 12 Months |
|
|
Total |
|
| Investment Description |
|
Fair Value |
|
|
Unrealized
Loss |
|
|
Fair Value |
|
|
Unrealized
Loss |
|
|
Fair Value |
|
|
Unrealized
Loss |
|
| Partnerships owning investments in technology related industries |
|
|
— |
|
|
|
— |
|
|
$ |
346,000 |
|
|
$ |
(76,000 |
) |
|
$ |
346,000 |
|
|
$ |
(76,000 |
) |
| Partnerships owning real estate and related investments |
|
|
— |
|
|
|
— |
|
|
|
246,000 |
|
|
|
(11,000 |
) |
|
|
246,000 |
|
|
|
(11,000 |
) |
| Total |
|
|
— |
|
|
|
— |
|
|
$ |
592,000 |
|
|
$ |
(87,000 |
) |
|
$ |
592,000 |
|
|
$ |
(87,000 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
As of December 31, 2012 |
|
| |
|
Less than 12 Months |
|
|
Greater than 12 Months |
|
|
Total |
|
| Investment Description |
|
Fair Value |
|
|
Unrealized
Loss |
|
|
Fair Value |
|
|
Unrealized
Loss |
|
|
Fair Value |
|
|
Unrealized
Loss |
|
| Partnerships owning investments in technology related industries |
|
$ |
11,000 |
|
|
$ |
(10,000 |
) |
|
$ |
374,000 |
|
|
$ |
(69,000 |
) |
|
$ |
384,000 |
|
|
$ |
(79,000 |
) |
| Partnerships owning diversified businesses |
|
|
— |
|
|
|
— |
|
|
|
241,000 |
|
|
|
(5,000 |
) |
|
|
241,000 |
|
|
|
(5,000 |
) |
| Partnerships owning real estate and related investments |
|
|
— |
|
|
|
— |
|
|
|
231,000 |
|
|
|
(49,000 |
) |
|
|
231,000 |
|
|
|
(49,000 |
) |
| Total |
|
$ |
11,000 |
|
|
$ |
(10,000 |
) |
|
$ |
846,000 |
|
|
$ |
(123,000 |
) |
|
$ |
856,000 |
|
|
$ |
(133,000 |
) |
| |
|
|
|
|
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