us-gaap:MinorityInterestDisclosureTextBlock

AGL RESOURCES INC

Note 5 – Variable Interest Entity

In June 2009, the FASB issued an amendment to the guidance related to transfers and servicing of financial assets and interests in a variable interest entity (VIE) that requires improved disclosures about transfers of financial assets and removes the exception from applying the guidance related to consolidations specifically for VIE’s to qualifying special purpose entities. The amendment to the guidance will be effective for us on January 1, 2010 and it will have no effect on our consolidated results of operations, cash flows or financial position.

In June 2009, the FASB issued new consolidation guidance for a VIE. The guidance requires a company to assess the determination of the primary beneficiary of a VIE based on whether the company has the power to direct matters that most significantly impact the activities of the VIE and has the obligation to absorb losses or the right to receive benefits of the VIE. In addition, the guidance requires ongoing reassessments of whether a company is the primary beneficiary of a VIE. The guidance will be effective for us on January 1, 2010. Earlier application is prohibited. We are currently evaluating the impact of this guidance on our consolidated results of operations, cash flows and financial position.

Noncontrolling Interests

We currently own a noncontrolling 70% financial interest in SouthStar, a joint venture with Piedmont who owns the remaining 30%. Our 70% interest is noncontrolling because all significant management decisions require approval by both owners. Although our ownership interest in the SouthStar partnership is 70%, under an amended and restated joint venture agreement executed in March 2004, SouthStar's earnings are currently allocated 75% to us and 25% to Piedmont except for earnings related to customers in Ohio and Florida, which are currently allocated 70% to us and 30% to Piedmont.

We are the primary beneficiary of SouthStar’s activities and have determined that SouthStar is a VIE as defined by the authoritative guidance related to consolidations, which requires us to consolidate the VIE. The assets, liabilities, and noncontrolling interests of a consolidated VIE are accounted for in our condensed consolidated financial statements as if the entity were consolidated based on voting interests.

We determined that SouthStar was a VIE because our equal voting rights with Piedmont are not proportional to our economic obligation to absorb 75% of any losses or residual returns from SouthStar, except those losses and returns related to customers in Ohio and Florida. In addition, SouthStar obtains substantially all its transportation capacity for delivery of natural gas through our wholly-owned subsidiary, Atlanta Gas Light.

On January 1, 2009, we adopted additional authoritative guidance relating to consolidations, and applied the presentation and disclosure requirements retrospectively for all periods presented. The additional guidance does not change the requirements of prior guidance but requires that the noncontrolling interest be reported as a separate component of equity on our condensed consolidated statements of financial position.

Additionally, prior to adoption of the guidance, we recorded our earnings allocated to Piedmont as a component of earnings before income taxes in our condensed consolidated statements of income. The additional guidance requires that any net income attributable to the noncontrolling interest be presented separately in our condensed consolidated statements of income. As a result, net income from noncontrolling interest is reported after net income in order to report net income attributable to the parent and the noncontrolling interest. The adoption of this guidance had no effect on our calculation of basic or diluted earnings per share amounts, which will continue to be based upon amounts attributable to AGL Resources.

AMPHENOL CORP /DE/

Note 6-Noncontrolling Interests

Effective January 1, 2009, the Company adopted the standards set forth in the Consolidation Topic of the ASC. These standards require companies to classify expenses related to noncontrolling interests’ share in income below net income (earnings per share continues to be determined after the impact of the noncontrolling interests’ share in net income of the Company). In addition, these standards require the liability related to noncontrolling interests to be presented as a separate caption within equity. The presentation and disclosure requirements of these standards were retroactively applied.

A reconciliation of consolidated changes in equity for the nine months ended September 30, 2009 is as follows:

	Amphenol Corporation Shareholders
	Common		Additional Paid-		Accumulated			Accum. Other Comprehensive			Noncontrolling			Total
	Stock		In Capital		Earnings			Loss			Interests			Equity

Balance as of December 31, 2008	$	171	$	22,746	$	1,467,099		$	(140,591	)	$	19,144		$	1,368,569
Comprehensive income:
Net income					230,195						7,044			237,239
Translation adjustments								25,255			(1,279		)	23,976
Revaluation of interest rate derivatives								8,409						8,409
Defined benefit plan liability adjustment								(294		)				(294		)
Payments to shareholders of noncontrolling interests											(7,978		)	(7,978		)
Stock options exercised, including tax benefit	1		5,596											5,597
Stock compensation			131											131
Dividends declared					(7,711		)							(7,711		)
Stock-based compensation expense			15,259											15,259
Balance as of September 30, 2009	$	172	$	43,732	$	1,689,583		$	(107,221	)	$	16,931		$	1,643,197

A reconciliation of consolidated changes in equity for the nine months ended September 30, 2008 is as follows:

	Amphenol Corporation Shareholders
	Common			Additional Paid- In Capital			Accumulated			Accum. Other Comprehensive			Treasury			Noncontrolling		Total
	Stock			(Deficit)			Earnings			Loss			Stock			Interests		Equity

Balance as of December 31, 2007	$	181		$	(43,647	)	$	1,431,635		$	(43,644	)	$	(79,611	)	$	14,834	$	1,279,748
Comprehensive income:
Net income							320,418									7,615		328,033
Translation adjustments										(30,562		)				219		(30,343		)
Revaluation of interest rate derivatives										(1,080		)						(1,080		)
Defined benefit plan liability adjustment										(367		)						(367		)
Purchase of treasury stock													(143,693		)			(143,693		)
Retirement of treasury stock	(5		)				(203,791		)				203,796					—
Stock options exercised, including tax benefit	2			49,906														49,908
Stock compensation				159														159
Dividends declared							(7,902		)									(7,902		)
Stock-based compensation expense				11,777														11,777
Balance as of September 30, 2008	$	178		$	18,195		$	1,540,360		$	(75,653	)	$	(19,508	)	$	22,668	$	1,486,240

BOSTON PROPERTIES INC

8. Noncontrolling Interests

Effective January 1, 2009, the Company adopted the guidance included in ASC 810 “Consolidation” (“ASC 810”) (formerly known as SFAS No. 160, “Noncontrolling Interests in Consolidated Financial Statements—an amendment of ARB No. 51” (“SFAS No. 160”)) and ASC 480-10-S99 “Distinguishing Liabilities from Equity” (“ASC 480-10-S99”) (formerly known as EITF Topic No. D-98 “Classification and Measurement of Redeemable Securities” (Amended)), under which noncontrolling interests of the Company (previously known as “minority interests”) are classified either as a component of equity or in the mezzanine section of the balance sheet as temporary equity depending on the terms of such noncontrolling interests. As a result of the adoption of the guidance included in ASC 810, the Company reclassified the noncontrolling interests in consolidated property partnerships from the mezzanine section of its Consolidated Balance Sheets to equity. The reclassification totaled approximately $6.9 million as of December 31, 2008. In addition, the Company reclassified the noncontrolling interests related to the common units of the Operating Partnership not owned by the Company from the mezzanine section of its Consolidated Balance Sheets to equity. The reclassification totaled approximately $563.2 million as of December 31, 2008. Noncontrolling interests related to redeemable preferred units of the Operating Partnership continue to be classified in the mezzanine section of the Consolidated Balance Sheets.

Under the guidance included in ASC 810, net income encompasses the total income of all consolidated subsidiaries and there is a separate disclosure of the attribution of that income between controlling and noncontrolling interests. The implementation of this standard had no effect on the Company’s results of operations. As a result of the adoption of the guidance included in ASC 810, net income attributable to noncontrolling interests is now deducted from net income in the determination of net income attributable to the Company for all periods presented. In addition, other comprehensive income (loss) attributable to noncontrolling interests is now deducted from comprehensive income in the determination of comprehensive income attributable to the Company for all periods presented.

Noncontrolling interests relate to the interests in the Operating Partnership not owned by the Company and interests in property partnerships not wholly-owned by the Company. As of September 30, 2009, the noncontrolling interests consisted of 19,840,115 OP Units, 1,458,840 LTIP Units, 1,080,938 2008 OPP Units and 1,113,044 Series Two Preferred Units (or 1,460,688 OP Units on an as converted basis) held by parties other than the Company.

Noncontrolling Interest—Redeemable Preferred Units of the Operating Partnership

The Preferred Units at September 30, 2009 consisted solely of 1,113,044 Series Two Preferred Units, which bear a preferred distribution equal to the greater of (1) the distribution which would have been paid in respect of the Series Two Preferred Unit had such Series Two Preferred Unit been converted into an OP Unit (including both regular and special distributions) or (2) a rate ranging from 5.00% to 7.00% per annum on a liquidation preference of $50.00 per unit, and are convertible into OP Units at a rate of $38.10 per Preferred Unit (1.312336 OP Units for each Preferred Unit). Distributions on the Series Two Preferred Units are payable quarterly and, unless the greater rate described in the next sentence applies, accrue at 7.0% until May 12, 2009 and 6.0% thereafter. If distributions on the number of OP Units into which the Series Two Preferred Units are convertible are greater than distributions calculated using the rates described in the preceding sentence for the applicable quarterly period, then the greater distributions are payable instead. The holders of Series Two Preferred Units have the right to require the Operating Partnership to redeem their units for cash at the redemption price of $50.00 per unit on May 12, 2010, May 12, 2011, May 14, 2012, May 14, 2013 and May 12, 2014. The maximum number of units that may be required to be redeemed from all holders on each of these dates is 1,007,662, which is one-sixth of the number of Series Two Preferred Units that were originally issued. The holders had the right to have their Series Two Preferred Units redeemed for cash on May 12, 2009, although no holder exercised such right. The Company also has the right, under certain conditions and at certain times, to redeem Series Two Preferred Units for cash and to convert into OP Units any Series Two Preferred Units that are not redeemed when they are eligible for redemption.

On February 17, 2009, the Operating Partnership paid a distribution on its outstanding Series Two Preferred Units of $0.89239 per unit. On May 15, 2009, the Operating Partnership paid a distribution on its outstanding Series Two Preferred Units of $0.89239 per unit. On August 17, 2009, the Operating Partnership paid a distribution on its outstanding Series Two Preferred Units of $0.75616 per unit.

The following table reflects the activity of the noncontrolling interests—redeemable preferred units of the Operating Partnership for the nine months ended September 30, 2009 and 2008 (in thousands):


Balance at January 1, 2009:	$	55,652
Net income		2,734
Distributions		(2,734	)

Balance at September 30, 2009:	$	55,652


Balance at January 1, 2008:	$	55,652
Net income		3,151
Distributions		(3,151	)

Balance at September 30, 2008:	$	55,652

Noncontrolling Interest—Common Units of the Operating Partnership

During the nine months ended September 30, 2009, 70,563 OP Units were presented by the holders for redemption and were redeemed by the Company in exchange for an equal number of shares of Common Stock.

At September 30, 2009, the Company had outstanding 1,080,938 2008 OPP Units. Prior to the measurement date on February 5, 2011, 2008 OPP Units will be entitled to receive per unit distributions equal to one-tenth (10%) of the regular quarterly distributions payable on an OP Unit, but will not be entitled to receive any special distributions. After the measurement date, the number of 2008 OPP Units, both vested and unvested, which 2008 OPP award recipients have earned, if any, based on the establishment of an outperformance pool, will be entitled to receive distributions in an amount per unit equal to distributions, both regular and special, payable on an OP Unit.

On January 30, 2009, the Operating Partnership paid a distribution on the OP Units and LTIP Units in the amount of $0.68 per unit and a distribution on the 2008 OPP Units in the amount of $0.068 per unit to holders of record as of the close of business on December 31, 2008. On April 30, 2009, the Operating Partnership paid a distribution on the OP Units and LTIP Units in the amount of $0.68 per unit and a distribution on the 2008 OPP Units in the amount of $0.068 per unit to holders of record as of the close of business on March 31, 2009. On July 31, 2009, the Operating Partnership paid a distribution on the OP Units and LTIP Units in the amount of $0.50 per unit and a distribution on the 2008 OPP Units in the amount of $0.05 per unit to holders of record as of the close of business on June 30, 2009. On September 17, 2009, Boston Properties, Inc., as general partner of the Operating Partnership, declared a distribution on the OP Units and LTIP Units in the amount of $0.50 per unit and a distribution on the 2008 OPP Units in the amount of $0.05 per unit, in each case payable on October 30, 2009 to holders of record as of the close of business on September 30, 2009.

The following table reflects the activity of the noncontrolling interests—common units of the Operating Partnership for the nine months ended September 30, 2009 and 2008 (in thousands):


Balance at January 1, 2009:	$	563,212
Net income		29,100
Distributions		(35,905	)
Equity compensation		18,724
Reallocation of partnership interest		45,329

Balance at September 30, 2009:	$	620,460


Balance at January 1, 2008:	$	589,770
Net income		35,613
Distributions		(43,353	)
Contributions		25,000
Equity compensation		16,541
Reallocation of partnership interest		(24,475	)

Balance at September 30, 2008:	$	599,096

The Series Two Preferred Units may be converted into OP Units at the election of the holder thereof at any time. A holder of an OP Unit may present such OP Unit to the Operating Partnership for redemption at any time (subject to restrictions agreed upon at the time of issuance of OP Units to particular holders that may restrict such redemption right for a period of time, generally one year from issuance). Upon presentation of an OP Unit for redemption, the Operating Partnership must redeem such OP Unit for cash equal to the then value of a share of common stock of the Company. The Company may, in its sole discretion, elect to assume and satisfy the redemption obligation by paying either cash or issuing one share of Common Stock. The value of the OP Units (not owned by the Company and including LTIP Units assuming that all conditions have been met for the conversion thereof) and Series Two Preferred Units (on an as converted basis) had all of such units been redeemed at September 30, 2009 was approximately $1,396.1 million and $95.7 million, respectively, based on the closing price of the Company’s common stock of $65.55 per share on September 30, 2009.

Noncontrolling Interest—Property Partnerships

The noncontrolling interests in property partnerships consist of the outside equity interests in ventures that are consolidated with the financial results of the Company because the Company exercises control over the entities that own the properties. The equity interests in these ventures that are not owned by the Company, totaling approximately $5.7 million at September 30, 2009, are included in Noncontrolling Interests—Property Partnerships on the accompanying Consolidated Balance Sheets.

On January 5, 2009, the Company paid $25.0 million in connection with the agreement entered into in May 2006 to redeem the outside members’ equity interests in the limited liability company that owns 601 Lexington Avenue (formerly known as Citigroup Center).

The following table reflects the activity of the noncontrolling interests—property partnerships for the nine months ended September 30, 2009 and 2008 (in thousands):


Balance at January 1, 2009:	$	6,900
Net income		2,315
Distributions		(3,500	)

Balance at September 30, 2009:	$	5,715


Balance at January 1, 2008:	$	25,805
Net income		1,570
Distributions		(14,082	)

Balance at September 30, 2008:	$	13,293

BOSTON PROPERTIES LTD PARTNERSHIP

8. Noncontrolling Interests

Effective January 1, 2009, the Company adopted the guidance included in ASC 810 “Consolidation” (“ASC 810”) (formerly known as SFAS No. 160, “Noncontrolling Interests in Consolidated Financial Statements—an amendment of ARB No. 51” (“SFAS No. 160”)) and ASC 480-10-S99 “Distinguishing Liabilities from Equity” (“ASC 480-10-S99”) (formerly known as EITF Topic No. D-98 “Classification and Measurement of Redeemable Securities” (Amended)), under which noncontrolling interests of the Company (previously known as “minority interests”) are classified either as a component of equity or in the mezzanine section of the balance sheet as temporary equity depending on the terms of such noncontrolling interests. As a result of the adoption of the guidance included in ASC 810, the Company reclassified the noncontrolling interests in consolidated property partnerships from the mezzanine section of its Consolidated Balance Sheets to equity. The reclassification totaled approximately $6.9 million as of December 31, 2008. Noncontrolling interests related to redeemable preferred units and redeemable common units of the Company continue to be classified in the mezzanine section of the Consolidated Balance Sheets. Noncontrolling interests related to redeemable common units of the Company are adjusted each period to reflect the carrying value equal to the greater of the carrying value based on historical cost or the redemption value.

Noncontrolling interests relate to the interests in the Company not owned by Boston Properties, Inc. and interests in property partnerships not wholly-owned by the Company. As of September 30, 2009, the noncontrolling interests consisted of 19,840,115 OP Units, 1,458,840 LTIP Units, 1,080,938 2008 OPP Units and 1,113,044 Series Two Preferred Units (or 1,460,688 OP Units on an as converted basis) held by parties other than Boston Properties, Inc.

Noncontrolling Interest—Redeemable Preferred Units

The Preferred Units at September 30, 2009 consisted solely of 1,113,044 Series Two Preferred Units, which bear a preferred distribution equal to the greater of (1) the distribution which would have been paid in respect of the Series Two Preferred Unit had such Series Two Preferred Unit been converted into an OP Unit (including both regular and special distributions) or (2) a rate ranging from 5.00% to 7.00% per annum on a liquidation preference of $50.00 per unit, and are convertible into OP Units at a rate of $38.10 per Preferred Unit (1.312336 OP Units for each Preferred Unit). Distributions on the Series Two Preferred Units are payable quarterly and, unless the greater rate described in the next sentence applies, accrue at 7.0% until May 12, 2009 and 6.0% thereafter. If distributions on the number of OP Units into which the Series Two Preferred Units are convertible are greater than distributions calculated using the rates described in the preceding sentence for the applicable quarterly period, then the greater distributions are payable instead. The holders of Series Two Preferred Units have the right to require the Company to redeem their units for cash at the redemption price of $50.00 per unit on May 12, 2010, May 12, 2011, May 14, 2012, May 14, 2013 and May 12, 2014. The maximum number of units that may be required to be redeemed from all holders on each of these dates is 1,007,662, which is one-sixth of the number of Series Two Preferred Units that were originally issued. The holders had the right to have their Series Two Preferred Units redeemed for cash on May 12, 2009, although no holder exercised such right. The Company also has the right, under certain conditions and at certain times, to redeem Series Two Preferred Units for cash and to convert into OP Units any Series Two Preferred Units that are not redeemed when they are eligible for redemption.

On February 17, 2009, the Company paid a distribution on its outstanding Series Two Preferred Units of $0.89239 per unit. On May 15, 2009, the Company paid a distribution on its outstanding Series Two Preferred Units of $0.89239 per unit. On August 17, 2009, the Company paid a distribution on its outstanding Series Two Preferred Units of $0.75616 per unit.

Due to the redemption option and the conversion option existing outside the control of the Company, such Preferred Units are not included in Partners’ Capital and are reflected in the Consolidated Balance Sheets at an amount equivalent to the value of such units had such units been redeemed at September 30, 2009. The value of the Series Two Preferred Units had all of such units been converted and then redeemed at September 30, 2009 was approximately $95.7 million based on the closing price of Boston Properties, Inc.’s common stock of $65.55 per share.

The following table reflects the activity of the noncontrolling interests—redeemable preferred units for the nine months ended September 30, 2009 and 2008 (in thousands):


Balance at January 1, 2009:	$	80,338
Net income		2,734
Distributions		(2,734	)
Reallocation of partnership interest		15,410

Balance at September 30, 2009:	$	95,748


Balance at January 1, 2008:	$	134,106
Net income		3,151
Distributions		(3,151	)
Reallocation of partnership interest		2,702

Balance at September 30, 2008:	$	136,808

Noncontrolling Interest—Common Units

During the nine months ended September 30, 2009, 70,563 OP Units were presented by the holders for redemption and were redeemed by Boston Properties, Inc. in exchange for an equal number of shares of Common Stock.

On January 30, 2009, the Company paid a distribution on the OP Units and LTIP Units in the amount of $0.68 per unit and a distribution on the 2008 OPP Units in the amount of $0.068 per unit to holders of record as of the close of business on December 31, 2008. On April 30, 2009, the Company paid a distribution on the OP Units and LTIP Units in the amount of $0.68 per unit and a distribution on the 2008 OPP Units in the amount of $0.068 per unit to holders of record as of the close of business on March 31, 2009. On July 31, 2009, the Company paid a distribution on the OP Units and LTIP Units in the amount of $0.50 per unit and a distribution on the 2008 OPP Units in the amount of $0.05 per unit to holders of record as of the close of business on June 30, 2009. On September 17, 2009, Boston Properties, Inc., as general partner of the Company, declared a distribution on the OP Units and LTIP Units in the amount of $0.50 per unit and a distribution on the 2008 OPP Units in the amount of $0.05 per unit, in each case payable on October 30, 2009 to holders of record as of the close of business on September 30, 2009.

Pursuant to the Company’s Partnership Agreement, certain limited partners in the Company have the right to redeem all or any portion of their interest for cash from the Company. However, Boston Properties, Inc. may elect to acquire the interest by issuing its Common Stock in exchange for their interest. The amount of cash to be paid to the limited partner if the redemption right is exercised and the cash option is elected is based on the trading price of Boston Properties, Inc.’s common stock at that time. Due to the redemption option existing outside the control of the Company, such limited partners’ units are not included in Partners’ Capital. The value of the OP Units not owned by Boston Properties, Inc. (including LTIP Units assuming that all conditions have been met for the conversion thereof) had all of such units been redeemed at September 30, 2009 was approximately $1,396.1 million based on the closing price of Boston Properties, Inc.’s common stock of $65.55 per share.

The following table reflects the activity of the noncontrolling interests—common units for the nine months ended September 30, 2009 and 2008 (in thousands):


Balance at January 1, 2009:	$	1,147,057
Net income		29,100
Distributions		(35,905	)
Equity compensation		18,724
Reallocation of partnership interest		246,503

Balance at September 30, 2009:	$	1,405,479


Balance at January 1, 2008:	$	1,923,181
Net income		35,613
Distributions		(43,353	)
Contributions		25,000
Equity compensation		16,541
Reallocation of partnership interest		23,192

Balance at September 30, 2008:	$	1,980,174

Noncontrolling Interest—Property Partnerships

The following table reflects the activity of the noncontrolling interests—property partnerships for the nine months ended September 30, 2009 and 2008 (in thousands):


Balance at January 1, 2009:	$	6,900
Net income		2,315
Distributions		(3,500	)

Balance at September 30, 2009:	$	5,715


Balance at January 1, 2008:	$	25,805
Net income		1,570
Distributions		(14,082	)

Balance at September 30, 2008:	$	13,293

Bunge LTD

15. TRANSFERS (TO) FROM NONCONTROLLING INTERESTS

In the nine months ended September 30, 2009, certain third party investors in a private investment fund consolidated by Bunge redeemed their shares in the fund. The shares were valued at $43 million and represented 51% of the outstanding shares of the fund and 100% of the ownership interest of these investors in the fund. Additionally, the investors received $8 million of dividends, which represented their share of the cumulative earnings of the fund. This transaction resulted in Bunge’s ownership interest in the fund increasing from 16% at December 31, 2008 to 31% at September 30, 2009.

During the nine months ended September 30, 2009, certain of Bunge’s Brazilian subsidiaries, which are primarily involved in its sugar businesses, received approximately $52 million in capital contributions from noncontrolling interests. Bunge made proportionate capital contributions to these subsidiaries, which resulted in no ownership percentage change.

In the nine months ended September 30, 2009, Bunge entered into a joint venture to build and operate a grain terminal in Longview, Washington, U.S. Bunge has a 51% controlling interest in the joint venture. Bunge received $22 million of capital contributions from the noncontrolling interests for a 49% interest, of which $5 million was the initial noncontrolling equity interest upon consolidation by Bunge of this joint venture.

In the nine months ended September 30, 2008, certain of Bunge’s Brazilian subsidiaries, which are primarily involved in its sugar businesses, received approximately $22 million as initial capital contributions from noncontrolling interests for a 20% interest in these subsidiaries. In addition, during the nine months ended September 30, 2008, Bunge recorded a capital contribution of $13 million in additional paid-in capital as a result of a final purchase price adjustment relating to the merger of its subsidiaries in Poland. In the merger, Bunge exchanged 18% of the stock of one of its subsidiaries for additional ownership interests in certain non-wholly owned subsidiaries and affiliates, resulting in consolidation of all of these entities by Bunge.

CARNIVAL CORP

NOTE 9 – Acquisition of Minority Interest

In July 2009, we purchased the remaining 25% minority interest in Ibero Cruises for $33 million. Ibero Cruises is now our 100%-owned Spanish cruise line.

COMCAST CORP

Note 7: Noncontrolling Interests

Certain of our subsidiaries that we consolidate are not wholly owned. Some of the agreements with the minority partners of these subsidiaries contain redemption features whereby interests held by the minority partners are redeemable either (i) at the option of the holder or (ii) upon the occurrence of an event that is not solely within our control. If interests were to be redeemed under these agreements, we would generally be required to purchase the interests at fair value on the date of redemption. In accordance with the accounting guidance for the classification and measurement of redeemable interests, these interests are presented on the balance sheet outside of equity under the caption “Redeemable noncontrolling interests.” Noncontrolling interests that do not contain such redemption features are presented in equity.

During the nine months ended September 30, 2009, we purchased all of the noncontrolling interest of one of our technology ventures, which had a carrying value of approximately $35 million, for approximately $5 million and rights to existing intellectual property. The difference between the amount paid and the carrying value of the noncontrolling interest resulted in an increase of approximately $30 million to additional paid-in capital of Comcast Corporation.

The table below presents the changes in equity resulting from net income attributable to Comcast Corporation and transfers to or from noncontrolling interests.


(in millions)	Nine Months Ended September 30, 2009
Net income attributable to Comcast Corporation	$	2,683
Transfers from (to) noncontrolling interests:
Increase in Comcast Corporation additional paid-in capital resulting from the purchase of noncontrolling interest		30
Changes from net income attributable to Comcast Corporation and transfers from (to) noncontrolling interests	$	2,713

DAVITA INC

12.

Changes in DaVita Inc.’s ownership interest in consolidated subsidiaries

The effects of changes in DaVita Inc.’s ownership interest on the Company’s equity are as follows:


	Three months ended September 30, 2009			Nine months ended September 30, 2009
Net income attributable to DaVita Inc.	$	110,930		$	312,960

Decrease in paid-in capital for sales of noncontrolling interest in three and ten joint ventures, respectively		(503	)		(837	)
Decrease in paid-in capital for the purchase of noncontrolling interest in two and five joint ventures, respectively		(1,184	)		(3,639	)

Net transfer from noncontrolling interests		(1,687	)		(4,476	)

Change from net income attributable to DaVita Inc. and transfers (to) from noncontrolling interests	$	109,243		$	308,484

Dupont E I De Nemours & Co

Note 2. Reporting of Noncontrolling Interests

Effective January 1, 2009, the company implemented the provisions for the reporting of noncontrolling interests in the company’s Consolidated Financial Statements and accompanying notes. The provision changed the accounting and reporting of minority interests (now referred to as noncontrolling interests) in the company’s Consolidated Financial Statements. The following tables illustrate the changes in equity for the three and nine months ended September 30, 2009 and 2008, respectively:

Consolidated Changes in Equity for the Three Months Ended September 30, 2009	Total	Comprehensive Income		Preferred Stock	Common Stock	Additional Paid-in- Capital	Reinvested Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Noncontrolling Interests

Beginning balance	$ 7,907			$ 237	$ 297	$ 8,441	$ 10,611	$ (5,385)	$(6,727)	$ 433

Comprehensive income:

Net income	414	414					409			5
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	55	55						55
Net revaluation and clearance of cash flow hedges to earnings	22	22						22
Pension benefit plans	50	50						50
Other benefit plans	(9)	(9)						(9)
Net unrealized gain on securities	-	-
Other comprehensive income	118	118

Comprehensive income	532	532	¹

Common dividends	(375)						(373)			(2)
Preferred dividends	(3)						(3)
Common stock issued - compensation plans	22					22

Total Equity as of September 30, 2009	$ 8,083			$ 237	$ 297	$ 8,463	$ 10,644	$ (5,267)	$(6,727)	$ 436


Consolidated Changes in Equity for the Three Months Ended September 30, 2008	Total	Comprehensive Income		Preferred Stock	Common Stock	Additional Paid-in- Capital	Reinvested Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Noncontrolling Interests

Beginning balance	$13,344			$ 237	$ 297	$ 8,336	$ 11,466	$ (706)	$(6,727)	$ 441


Comprehensive income:

Net income	372	372					367			5
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(102)	(102)						(101)		(1)
Net revaluation and clearance of cash flow hedges to earnings	(141)	(141)						(140)		(1)
Pension benefit plans	6	6						6
Other benefit plans	(12)	(12)						(12)
Net unrealized loss on securities	(6)	(6)						(6)
Other comprehensive loss	(255)	(255)

Comprehensive income	117	117	¹

Common dividends	(373)						(372)			(1)
Preferred dividends	(3)						(3)
Common stock issued - compensation plans	32					32

Total Equity as of September 30, 2008	$13,117			$ 237	$ 297	$ 8,368	$ 11,458	$ (959)	$(6,727)	$ 443

¹	Includes comprehensive income attributable to noncontrolling interests of $5 and $3 for the three months ended September 30, 2009 and 2008, respectively.

Consolidated Changes in Equity for the Nine Months Ended September 30, 2009	Total	Comprehensive Income		Preferred Stock	Common Stock	Additional Paid-in- Capital	Reinvested Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Noncontrolling Interests

Beginning balance	$ 7,552			$ 237	$ 297	$ 8,380	$ 10,456	$ (5,518)	$(6,727)	$ 427

Acquisition of a majority interest in a consolidated subsidiary	1									1
Purchase of subsidiary shares from noncontrolling interest	(1)									(1)
Comprehensive income:
Net income	1,324	1,324					1,314			10
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	80	80						80
Net revaluation and clearance of cash flow hedges to earnings	62	62						60		2
Pension benefit plans	137	137						137
Other benefit plans	(27)	(27)						(27)
Net unrealized gain on securities	1	1						1
Other comprehensive income	253	253
Comprehensive income	1,577	1,577	¹
Common dividends	(1,121)						(1,118)			(3)
Preferred dividends	(8)						(8)
Common stock issued - compensation plans	83					83

Total Equity as of September 30, 2009	$ 8,083			$ 237	$ 297	$ 8,463	$ 10,644	$ (5,267)	$(6,727)	$ 436


Consolidated Changes in Equity for the Nine Months Ended September 30, 2008	Total	Comprehensive Income		Preferred Stock	Common Stock	Additional Paid-in- Capital	Reinvested Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Noncontrolling Interests

Beginning balance	$11,578			$ 237	$ 296	$ 8,179	$ 9,945	$ (794)	$(6,727)	$ 442
Comprehensive income:
Net income	2,646	2,646					2,636			10
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment	(27)	(27)						(26)		(1)
Net revaluation and clearance of cash flow hedges to earnings	(120)	(120)						(118)		(2)
Pension benefit plans	31	31						31
Other benefit plans	(37)	(37)						(37)
Net unrealized loss on securities	(15)	(15)						(15)
Other comprehensive loss	(168)	(168)
Comprehensive income	2,478	2,478	¹
Common dividends	(1,121)						(1,115)			(6)
Preferred dividends	(8)						(8)
Common stock issued - compensation plans	190				1	189

Total Equity as of September 30, 2008	$13,117			$ 237	$ 297	$ 8,368	$ 11,458	$ (959)	$(6,727)	$ 443

¹	Includes comprehensive income attributable to noncontrolling interests of $12 and $7 for the nine months ended September 30, 2009 and 2008, respectively.

EDISON MISSION ENERGY

Note 7. Noncontrolling Interests

Pursuant to authoritative guidance on consolidations, EME is providing a consolidated statement of changes in equity and a schedule summarizing the amounts of income from continuing operations and discontinued operations attributable to EME.

Consolidated Statement of Changes in Equity

Consolidated statement of changes in equity at the beginning and the end of the nine months ended September 30, 2009 and 2008:

				EME Shareholders

Nine months ended September 30, 2009	Total			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Common Stock		Additional Paid-in Capital		Non- controlling Interest
	(in millions)
Balance at December 31, 2008	$	2,764		$	1,085		$	200		$	64	$	1,335	$	80
Net income (loss)		147			149										(2	)
Other comprehensive loss		(46	)					(46	)
Payments to Edison International for stock purchases related to stock-based compensation		(2	)		(2	)
Other stock transactions, net		3											3
Cash contributions from noncontrolling interests		2													2
Cash distributions to noncontrolling interests		(2	)												(2	)

Balance at September 30, 2009	$	2,866		$	1,232		$	154		$	64	$	1,338	$	78

Nine months ended September 30, 2008
Balance at December 31, 2007	$	1,965		$	596		$	(63	)	$	64	$	1,326	$	42
Net income (loss)		425			426										(1	)
Other comprehensive income		150						150
Payments to Edison International for stock purchases related to stock-based compensation		(12	)		(12	)
Excess for benefits related to stock-option exercises		2											2
Other stock transactions, net		4											4
Sale of membership interest in noncontrolling interest		28													28
Cash contributions from noncontrolling interests		8													8
Cash distributions to noncontrolling interests		(2	)												(2	)

Balance at September 30, 2008	$	2,568		$	1,010		$	87		$	64	$	1,332	$	75

Summarized Financial Information for EME

Amounts attributable to EME common shareholders:

	Three Months Ended September 30,					Nine Months Ended September 30,

	2009			2008		2009			2008
	(in millions)
Income from continuing operations, net of tax	$	54		$	203	$	154		$	426
Discontinued operations, net of tax		(1	)		6		(5	)		—

Net income attributable to EME common shareholders	$	53		$	209	$	149		$	426

EMC CORP

4. Non-controlling Interest in VMware, Inc.

The effects of changes in our ownership interest in VMware on our equity were as follows (table in thousands):


	For the Nine Months Ended
	September 30, 2009			September 30, 2008
Net income attributable to EMC Corporation	$	697,481		$	1,005,182

Transfers (to) from the non-controlling interest in VMware:
Increase in EMC Corporation’s additional paid-in-capital for VMware’s equity issuances		63,181			74,656
Decrease in EMC Corporation’s additional paid-in-capital for VMware’s other equity activity		(40,423	)		(42,768	)

Net transfers from non-controlling interest		22,758			31,888

Change from net income attributable to EMC Corporation and transfers from the non-controlling interest in VMware, Inc.	$	720,239		$	1,037,070

ENSCO International Incorporated

Note 2 - Noncontrolling Interests

On January 1, 2009, we adopted certain provisions of FASB ASC 810-10 (previously SFAS No. 160, "Noncontrolling Interests in Consolidated Financial Statements"). This standard clarifies that a noncontrolling interest should be reported as equity in the consolidated financial statements and requires net income attributable to both the parent and the noncontrolling interest to be disclosed separately on the face of the consolidated statement of income. These presentation and disclosure provisions require retrospective application to all prior periods presented.

Noncontrolling interests were classified as equity on our condensed consolidated balance sheets as of September 30, 2009 and December 31, 2008, and net income attributable to noncontrolling interests was presented separately on our condensed consolidated statements of income for the three-month and nine-month periods ended September 30, 2009 and 2008. Local third parties hold a noncontrolling ownership interest in three of our international subsidiaries. No changes in the ownership interests of these subsidiaries occurred during the nine-month period ended September 30, 2009.

The following table is a reconciliation of income from continuing operations attributable to Ensco during the three-month and nine-month periods ended September 30, 2009 and 2008 (in millions):

	Three Months				Nine Months
	Ended September 30,				Ended September 30,
	2009		2008		2009		2008

Income from continuing operations	$150.4		$296.8		$602.5		$853.7
Income from continuing operations attributable to noncontrolling interests	(1.1	)	(1.4	)	(3.6	)	(4.3	)

Income from continuing operations attributable to Ensco	$149.3		$295.4		$598.9		$849.4

Income (loss) from discontinued operations, net, for the three-month and nine-month periods ended September 30, 2009 and 2008 was attributable to Ensco.

FLUOR CORP

(12) In December 2007, the FASB issued SFAS No. 160, “Noncontrolling Interests in Consolidated Financial Statements” (ASC 810-10-45). ASC 810-10-45 establishes accounting and reporting standards for ownership interests in subsidiaries held by parties other than the parent, the amount of consolidated net income attributable to the parent and to the noncontrolling interest, changes in a parent’s ownership interest and the valuation of retained noncontrolling equity investments when a subsidiary is deconsolidated. This standard is effective for fiscal years beginning after December 15, 2008. The company adopted this standard during the first quarter of 2009.

As a result of the adoption of ASC 810-10-45, the company has separately disclosed on the face of the Condensed Consolidated Statement of Earnings for all periods presented the amount of net earnings attributable to the company and the amount of net earnings attributable to noncontrolling interests. For the three and nine months ended September 30, 2009, earnings attributable to noncontrolling interests were $12.6 million and $37.2 million, respectively, and the related tax effect was $0.7 million and $1.7 million, respectively. For the three and nine months ended September 30, 2008, earnings attributable to noncontrolling interests of $7.6 million and $26.1 million, respectively, and the related tax effects of $0.2 million and $1.1 million, respectively, were reclassified from total cost of revenue and income tax expense, respectively, to net earnings attributable to noncontrolling interests. Distributions paid to noncontrolling interests were $28.5 million and $42.7 million for the three and nine months ended September 30, 2009, respectively, and $10.0 million and $18.7 million for the three and nine months ended September 30, 2008, respectively. Capital contributions from noncontrolling interests were $3.9 million for the nine months ended September 30, 2008.

GENWORTH FINANCIAL INC

(11) Noncontrolling Interests

On July 7, 2009, Genworth MI Canada Inc. (“Genworth Canada”), our indirect subsidiary, completed the initial public offering (the “Offering”) of its common shares. Of the 44.7 million common shares of Genworth Canada that were sold in the Offering, 5.1 million common shares were sold by Genworth Canada and 39.6 million common shares were sold by Brookfield Life Assurance Company Limited (the “Selling Shareholder”), our indirect wholly-owned subsidiary. Following completion of the Offering, we beneficially owned 61.8% of the common shares of Genworth Canada. In addition, the Selling Shareholder granted to the underwriters of the Offering an option (the “Over-Allotment Option”), that was exercisable for a period of 30 days after the closing of the Offering, to purchase up to an additional 6.7 million common shares from the Selling Shareholder. On July 30, 2009, 5.0 million common shares were sold by the Selling Shareholder pursuant to the Over-Allotment Option. Following the exercise and closing of the Over-Allotment Option, we beneficially own 57.5% of the common shares of Genworth Canada. The Offering and the Over-Allotment Option generated gross proceeds of approximately $820 million. We paid $49 million of expenses directly related to the transaction, including underwriting commissions and other items, in the third quarter of 2009. The gross proceeds included $22 million of cash remaining in Genworth Canada.

Consistent with applicable accounting guidance, changes in noncontrolling interests that do not result in a change of control are accounted for as equity transactions. When there are changes in noncontrolling interests of a subsidiary that do not result in a change of control, any difference between carrying value and fair value related to the change in ownership is recorded as an adjustment to stockholders’ equity. A summary of these changes in ownership interests and the effect on stockholders’ equity for the periods presented was as follows:


	Three months ended September 30,						Nine months ended September 30,
(Amounts in millions)	2009			2008			2009			2008
Net income (loss) available to Genworth Financial, Inc.’s common stockholders	$	19		$	(258	)	$	(500	)	$	(251	)


Transfers to the noncontrolling interests:
Decrease in Genworth Financial, Inc.’s additional paid-in capital for initial sale of Genworth Canada shares to noncontrolling interests		(85	)		—			(85	)		—
Decrease in Genworth Financial, Inc.’s additional paid-in capital for additional sale of Genworth Canada shares to noncontrolling interests		(3	)		—			(3	)		—

Net transfers to noncontrolling interests		(88	)		—			(88	)		—

Change from net income (loss) available to Genworth Financial, Inc.’s common stockholders and transfers to noncontrolling interests	$	(69	)	$	(258	)	$	(588	)	$	(251	)

GOODRICH CORPORATION

Note 15. Noncontrolling Interests

The changes in the Company’s noncontrolling interests were as follows:


	Nine months ended
	September 30,
	2009			2008
	(Dollars in millions)
Balance at January 1	$	60.9		$	52.5
Distributions to noncontrolling interests		(7.8	)		(6.8	)
Comprehensive income:
Net income attributable to noncontrolling interests		10.5			13.8
Other comprehensive income, net of tax		—			—

Comprehensive income		10.5			13.8

Balance at September 30	$	63.6		$	59.5

LABORATORY CORP OF AMERICA HOLDINGS

7. NONCONTROLLING INTEREST PUT

Effective January 1, 2008 the Company acquired additional partnership units in its Ontario, Canada (“Ontario”) joint venture, bringing the Company’s percentage interest owned to 85.6%. Concurrent with this acquisition, the terms of the joint venture’s partnership agreement were amended. The amended joint venture’s partnership agreement enables the holders of the noncontrolling interest to put the remaining partnership units to the Company in defined future periods, at an initial amount equal to the consideration paid by the Company in 2008, and subject to adjustment based on market value formulas contained in the agreement. The contractual value of the put, in excess of the current noncontrolling interest of $24.1, totals $116.3 at September 30, 2009.

Net sales of the Ontario joint venture for the nine month and three month periods ended September 30, 2009 were $180.5 and $63.4, respectively (CN$210.4 and CN$69.5, respectively), and $190.5 and $59.4 for the nine month and three month periods ended September 30, 2008, respectively (CN$193.5 and CN$61.8, respectively).

NEWMONT MINING CORP /DE/

NOTE 10 NONCONTROLLING INTERESTS


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2009		2008			2009			2008
Batu Hijau	$	156	$	(17	)	$	248		$	103
Yanacocha		99		49			243			188
Other		2		(1	)		(2	)		—

	$	257	$	31		$	489		$	291

Newmont currently has a 45% ownership interest in Batu Hijau, held through NTP with an affiliate of Sumitomo Corporation of Japan (“Sumitomo”). Newmont has a 56.25% interest in NTP and the Sumitomo affiliate holds the remaining 43.75%. NTP in turn owns 80% of P.T. Newmont Nusa Tenggara (“PTNNT”), the Indonesian subsidiary that operates the Batu Hijau mine. Newmont identified NTP as a VIE as a result of certain capital structures and contractual relationships and has fully consolidated Batu Hijau in its consolidated financial statements since January 1, 2004. The remaining 20% interest in PTNNT is owned by P.T. Pukuafu Indah (“PTPI”), an unrelated Indonesian company. NTP’s interest in PTNNT was the subject of an international arbitration proceeding and a final award concerning PTNNT’s interest was issued by the arbitration panel on March 31, 2009. For further information concerning the arbitration award, see Note 27.

Newmont has a 51.35% ownership interest in Yanacocha, with the remaining interests held by Compañia de Minas Buenaventura, S.A.A. (43.65%) and the International Finance Corporation (5%).

In April 2008, the Company purchased 15,960 additional shares of European Gold Refineries SA joint venture (“EGR”) for $11 in cash increasing its ownership interest to 56.67% from 46.72%. The acquisition of the additional interest resulted in the consolidation of EGR. In November 2008, EGR repurchased 6.55% of its own shares from a minority shareholder bringing Newmont’s ownership to 60.64%. Swiss residents hold the remaining 39.36%. Prior to consolidation, the Company accounted for EGR using the equity method of accounting.

OWENS ILLINOIS INC /DE/

12. Noncontrolling Interests

Effective January 1, 2009, the Company adopted the provisions of a new accounting standard which established accounting and reporting requirements for the noncontrolling interests in a subsidiary and the deconsolidation of a subsidiary. An entity is required to present consolidated net income attributable to the parent and to the noncontrolling interests separately on the face of the consolidated financial statements. The new provisions clarify that noncontrolling interests in a subsidiary should be accounted for as a component of equity separate from the parent’s equity, rather than in liabilities. The format of the Company’s condensed consolidated results of operations for the three and nine months ended September 30, 2008, condensed consolidated cash flows for the nine months ended September 30, 2008, and condensed consolidated balance sheets at September 30, 2008 and December 31, 2008 have been reclassified to conform to the new presentation which is required to be applied retrospectively. The cash flow presentation was also revised to reflect dividends paid to noncontrolling interests as a cash flow from financing activities. Previously these cash flows had been reported as an operating activity.

PITNEY BOWES INC /DE/

12. Noncontrolling Interests (Preferred Stockholders’ Equity in Subsidiaries)

Pitney Bowes International Holdings, Inc. (“PBIH”), a subsidiary of the Company, has 3,750,000 shares outstanding or $375 million of variable term voting preferred stock owned by certain outside institutional investors. These preferred shares are entitled to 25% of the combined voting power of all classes of capital stock of PBIH. All outstanding common stock of PBIH, representing the remaining 75% of the combined voting power of all classes of capital stock, is owned directly or indirectly by Pitney Bowes Inc. The preferred stock, $.01 par value, is entitled to cumulative dividends at rates set at auction. The weighted average dividend rate was 4.8% for the three months and nine months ended September 30, 2009 and 2008, respectively. Preferred dividends are included in noncontrolling interests (preferred stock dividends of subsidiaries) in the Condensed Consolidated Statements of Income. The preferred stock is subject to mandatory redemption based on certain events, at a redemption price not less than $100 per share, plus the amount of any dividends accrued or in arrears. No dividends were in arrears at September 30, 2009, December 31, 2008 or September 30, 2008. A rollforward of noncontrolling interests is as follows:

Beginning balance, January 1, 2008	$	384,165
Movements:
Share redemptions (1)		(10,000)
Ending balance, December 31, 2008 and September 30, 2009	$	374,165

(1) At December 31, 2007, a subsidiary of the Company had 100 shares or $10 million of 9.11% Cumulative Preferred Stock, mandatorily redeemable in 20 years, owned by an institutional investor. In August 2008, we redeemed 100% of this Preferred Stock resulting in a net loss of $1.8 million.

In October 2009, PBIH issued $300 million of perpetual voting preferred stock to certain outside institutional investors. These preferred shares are entitled to 25% of the combined voting power of all classes of capital stock of PBIH. All outstanding common stock of PBIH, representing the remaining 75% of the combined voting power of all classes of capital stock, is owned directly or indirectly by Pitney Bowes Inc. The preferred stock is entitled to cumulative dividends at a rate of 6.125% for a period of 7 years after which they become callable and, if remain outstanding, will yield a dividend that increases by 150% every six months thereafter.

In October 2009, PBIH redeemed $344 million of its existing variable term preferred stock. The redemption was funded by a combination of the issuance of the $300 million perpetual voting preferred stock and commercial paper.

Public Storage

7. Noncontrolling Interests in Subsidiaries

In consolidation, we classify ownership interests in the net assets of each of the Consolidated Entities, other than our own, as “noncontrolling interests in subsidiaries.” Interests that have the ability to require us, except in an entity liquidation, to redeem the underlying securities for cash, assets, or other securities that would not also be classified as equity are presented on our balance sheet outside of equity. At the end of each reporting period, if the book value is less than the estimated amount to be paid upon a redemption occurring on the related balance sheet date, these interests are increased to adjust to their estimated liquidation value (which approximates fair value), with the offset against retained earnings. All other noncontrolling interests in subsidiaries are presented as a component of equity, “permanent noncontrolling interests in subsidiaries.”

Redeemable Noncontrolling Interests in Subsidiaries

At September 30, 2009, the Other Redeemable Noncontrolling Interests in Subsidiaries represent equity interests in three entities that own in aggregate 14 self-storage facilities. At December 31, 2008, these interests were increased and retained earnings (deficit) was decreased by a total of $6,469,000 in connection with the implementation of SFAS No. 160, to adjust to their estimated liquidation value (which approximates fair value). We estimate the amount to be paid upon redemption of these interests by applying the related provisions of the governing documents to our estimate of the fair value of the underlying net assets (principally real estate assets).

During the three and nine months ended September 30, 2009, we allocated a total of $247,000 and $753,000, respectively, in income to these interests. During the same periods in 2008, we allocated a total of $310,000 and $823,000, respectively, of income to these interests. During the nine months ended September 30, 2009, these interests were increased by $256,000 to adjust to their estimated liquidation value (which approximates fair value). During the nine months ended September 30, 2009 and 2008, we paid distributions to these interests totaling $976,000 and $926,000, respectively.

In 2007, we sold an approximately 0.6% common equity interest in Shurgard Europe to various officers of the Company (the “PS Officers”), other than our chief executive officer. For periods commencing from the sale of the interest through March 31, 2008, the PS Officers’ were allocated their pro rata share of the earnings of Shurgard Europe, and this was included in “Other Redeemable noncontrolling interests in subsidiaries.” As described in Note 3, on March 31, 2008, we deconsolidated Shurgard Europe and, as a result, noncontrolling interests in subsidiaries with respect to the PS Officers’ investment was eliminated. See Note 5 under “Investment in Shurgard Europe” for further historical information regarding Shurgard Europe.

Permanent Noncontrolling Interests in Subsidiaries

At September 30, 2009, the Other Permanent Noncontrolling Interests in Subsidiaries represent equity interests in 28 entities that own an aggregate of 94 self-storage facilities (the “Other Permanent Noncontrolling Interests in Subsidiaries”) and our various preferred partnership units (the “Preferred Partnership Interests”). These interests are presented as equity because the holders of the interests do not have the ability to require us to redeem them for cash or other assets, or other securities that would not also be classified as equity.

Preferred Partnership Interests

At December 31, 2008, our preferred partnership units outstanding were comprised of 8,000,000 units of our 6.400% Series NN ($200,000,000 carrying amount, redeemable March 17, 2010), 1,000,000 units of our 6.250% Series Z ($25,000,000 carrying amount, redeemable October 12, 2009), and 4,000,000 units of our 7.250% Series J ($100,000,000 carrying amount, redeemable May 9, 2011) preferred partnership units.

In March 2009, we acquired all of the 6.40% Series NN preferred partnership units from a third party ($200.0 million carrying amount) for approximately $128.0 million, plus accrued and unpaid distributions from December 31, 2008 through the closing date. This transaction resulted in an increase in paid-in capital of approximately $72.0 million for the nine months ended September 30, 2009, based upon the excess of the carrying amount over the amount paid.

Also in March 2009, we acquired all of the 6.25% Series Z preferred partnership units from a third party ($25.0 million carrying amount) for $25.0 million. This resulted in no increase in income allocated to the common shareholders as they were acquired at par.

At September 30, 2009, our preferred partnership units outstanding were comprised of 4,000,000 units of our 7.250% Series J preferred units ($100,000,000 carrying amount, redeemable May 9, 2011). Subject to certain conditions, the Series J preferred units are convertible into our 7.25% Series J Cumulative Preferred Shares.

During the three and nine months ended September 30, 2009, we allocated a total of $1,813,000 and $7,643,000, respectively, in income to these interests based upon distributions paid. During the same periods in 2008, we allocated a total of $5,403,000 and $16,209,000, respectively, in income to these interests based upon distributions paid.

In addition, during the nine months ended September 30, 2009, we allocated $72,000,000 in income from these interests in determining net income allocable to Public Storage shareholders based upon the aforementioned redemption of the 6.40% Series NN preferred partnership units for a cash payment that was $72,000,000 less than the related book value.

Other Permanent Noncontrolling Interests in Subsidiaries

At September 30, 2009, the Other Permanent Noncontrolling Interests in Subsidiaries represent equity interests in 28 entities (generally partnerships) that own in aggregate 94 self-storage facilities.

During the three and nine months ended September 30, 2009, we allocated a total of $4,582,000 and $12,888,000, respectively, in income to these interests. During the same periods in 2008, we allocated a total of $4,898,000 and $11,320,000, respectively, of income to these interests. During the nine months ended September 30, 2009 and 2008, we paid distributions to these interests totaling $11,661,000 and $11,801,000, respectively.

RAYTHEON CO/

7. Noncontrolling Interests

On January 1, 2009, we adopted a newly issued accounting standard for noncontrolling interests. In accordance with the accounting standard, we changed the accounting and reporting for our minority interests by recharacterizing them as noncontrolling interests and classifying them as a component of Equity in our consolidated balance sheet. Our consolidated statements of operations include Net income, which represents Net income attributable to Raytheon Company and Net income attributable to noncontrolling interests, as well as a new line item titled Net income attributable to Raytheon Company, which is the equivalent of the prior Net income line item. The accounting standard requires enhanced disclosures to clearly distinguish between our interests and the interests of noncontrolling owners. Our primary noncontrolling interest relates to Thales-Raytheon Systems Co. LLC (TRS LLC), which we control and consolidate, and is a component in computing the operating results of our Network Centric Systems segment (NCS). The adoption of this accounting standard resulted in an increase in NCS’ Operating income by $8 million and $9 million for the three months ended September 27, 2009 and September 28, 2008, respectively, and by $28 million and $16 million for the nine months ended September 27, 2009 and September 28, 2008, respectively. This increase in Operating income also resulted in a corresponding increase in NCS’ operating margin of 0.7% and 0.8% for the three months ended September 27, 2009 and September 28, 2008, respectively, and 0.8% and 0.5% for the nine months ended September 27, 2009 and September 28, 2008, respectively.

As part of the adoption of this accounting standard, we have presented the noncontrolling interest in TRS LLC and the related equity method investment in Thales-Raytheon Systems Co. Ltd. (TRS) net of any obligations or interests of Raytheon. The result of the adoption of this accounting standard at December 31, 2008 was a reduction in the balance of the equity investment in TRS by $162 million with a corresponding decrease in the reported noncontrolling interest to $101 million, which was subsequently reclassified as a component of Equity.