Henry Schein 2013 Annual Report Download - page 85

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HENRY SCHEIN, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
(in thousands, except per share data)
76
Note 6 – Redeemable Noncontrolling Interests
Some minority shareholders in certain of our subsidiaries have the right, at certain times, to require us to
acquire their ownership interest in those entities at fair value. Accounting Standards Codification (“ASC”) Topic
480-10 is applicable for noncontrolling interests where we are or may be required to purchase all or a portion of the
outstanding interest in a consolidated subsidiary from the noncontrolling interest holder under the terms of a put
option contained in contractual agreements. The components of the change in the Redeemable noncontrolling
interests for the years ended December 28, 2013, December 29, 2012 and December 31, 2011 are presented in the
following table:
December 28, December 29, December 31,
2013 2012 2011
Balance, beginning of period .......................................................................
.
$ 435,175 $ 402,050 $ 304,140
Decrease in redeemable noncontrolling interests due to
redemptions .............................................................................................
.
(9,028) (23,637) (160,254)
Increase in redeemable noncontrolling interests due to
business acquisitions .................................................................................
.
11,542 30,935 13,618
N
et income attributable to redeemable noncontrolling interests ..................
.
39,430 34,803 36,514
Dividends declared .......................................................................................
.
(19,965) (21,013) (15,212)
Effect of foreign currency translation gain (loss) attributable to
redeemable noncontrolling interests ........................................................
.
(654) 904 (889)
Change in fair value of redeemable securities .............................................
.
41,039 53,769 224,133
Other adjustment to redeemable noncontrolling interests ............................
.
- (42,636) -
Balance, end of period ..................................................................................
.
$ 497,539 $ 435,175 $ 402,050
Changes in the estimated redemption amounts of the noncontrolling interests subject to put options are adjusted
at each reporting period with a corresponding adjustment to Additional paid-in capital. Future reductions in the
carrying amounts are subject to a “floor” amount that is equal to the fair value of the redeemable noncontrolling
interests at the time they were originally recorded. The recorded value of the redeemable noncontrolling interests
cannot go below the floor level. These adjustments do not impact the calculation of earnings per share.