Quarterly report pursuant to Section 13 or 15(d)

Noncontrolling Interests And Redeemable Noncontrolling Interest

v3.8.0.1
Noncontrolling Interests And Redeemable Noncontrolling Interest
 3 Months Ended
Mar. 31, 2018
Noncontrolling Interests And Redeemable Noncontrolling Interest [Abstract]  
Noncontrolling Interests And Redeemable Noncontrolling Interest

13.    Noncontrolling Interests and Redeemable Noncontrolling Interest



The following table summarizes the noncontrolling interests in the Company’s subsidiaries at March 31, 2018 and December 31, 2017 (in thousands):





 

 

 

 



 

 

 

 



 

March 31,

 

December 31,



 

2018

 

2017

Bluegreen (1)

$

40,247 

 

 39,271 

Bluegreen / Big Cedar Vacations (2) 

 

 45,627 

 

 43,021 

Joint ventures and other

 

 544 

 

 (238)

Total noncontrolling interests

$

86,418 

 

 82,054 





Included in the Company’s Condensed Consolidated Statements of Financial Condition as of March 31, 2018 and December 31, 2017 was $2.6 million and $2.8 million, respectively, of a  redeemable noncontrolling interest associated with IT’SUGAR.  The Company owns 90.4% of IT’SUGAR’s Class B Units and the remaining 9.6% of IT’SUGAR’s Class B Units represent a redeemable noncontrolling interest.



The following table summarizes the income recognized with respect to the Company’s subsidiaries attributable to noncontrolling interests for the three months ended March 31, 2018 and 2017 (in thousands):





 

 

 

 



 

 

 

 



 

For the Three Months Ended



 

March 31,



 

2018

 

2017

Bluegreen (1)

$

 2,098 

 

 -

Bluegreen / Big Cedar Vacations (2)

 

 2,607 

 

 2,647 

Joint ventures and other

 

 (145)

 

 (10)

Net income attributable to noncontrolling interests

$

 4,560 

 

 2,637 





(1)

Subsequent to Bluegreen’s IPO in November 2017, the Company owns 90% of Bluegreen. 

(2)

Bluegreen has a joint venture arrangement pursuant to which it owns 51% of Bluegreen/Big Cedar Vacations.