Annual report pursuant to Section 13 and 15(d)

Non-Controlling Interest

Non-Controlling Interest
12 Months Ended
Dec. 31, 2018
Noncontrolling Interest [Abstract]  
Non-controlling Interest
mpany owned a 60% controlling interest in a joint venture formed with Swire Resources, Limited ("Swire") to support the development and operation of the Company's business in China. The accounts of the joint venture are included in the Consolidated Financial Statements. Swire's share of net income from the joint venture is included in Net income attributable to non-controlling interest in the Consolidated Statements of Operations. The 40% non-controlling equity interest in this entity is presented as Non-controlling interest in the Consolidated Balance Sheets and Consolidated Statements of Equity.
In September 2018, the Company and Swire entered into an Equity Interest Transfer Agreement ("EITA"), in which the Company committed to buy out the 40% non-controlling interest in the joint venture. On January 2, 2019, the Company closed the buyout. As a result of the buyout, beginning with the first quarter of 2019, the consolidated financial statements of the Company will not separately reflect amounts related to the non-controlling interest. See Note 22 for additional information regarding the various terms and conditions and resulting related-party transactions.