Quarterly report pursuant to Section 13 or 15(d)

Noncontrolling Interests And Redeemable Noncontrolling Interest

v3.10.0.1
Noncontrolling Interests And Redeemable Noncontrolling Interest
6 Months Ended
Jun. 30, 2018
Noncontrolling Interests And Redeemable Noncontrolling Interest [Abstract]  
Noncontrolling Interests And Redeemable Noncontrolling Interest

13.    Noncontrolling Interests and Redeemable Noncontrolling Interest



Noncontrolling interests in the Company’s consolidated subsidiaries consisted of the following (in thousands):





 

 

 

 



 

 

 

 



 

June 30,

 

December 31,



 

2018

 

2017

Bluegreen (1)

$

41,798 

 

39,271 

Bluegreen / Big Cedar Vacations (2) 

 

48,945 

 

43,021 

Joint ventures and other

 

886 

 

(238)

Total noncontrolling interests

$

91,629 

 

82,054 





The redeemable noncontrolling interest included in the Company’s condensed consolidated statements of financial condition is comprised of a redeemable noncontrolling interest associated with IT’SUGAR. The Company owns 90.4% of IT’SUGAR’s Class B Units, while the remaining 9.6% of such units are held by a noncontrolling interest and may be redeemed for cash at the holder’s option upon a contingent event outside of the Company’s control.



Income (loss) attributable to noncontrolling interests, including redeemable noncontrolling interests, consisted of the following (in thousands):





 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



 

For the Three Months Ended

 

For the Six Months Ended



 

June 30,

 

June 30,



 

2018

 

2017

 

2018

 

2017

Bluegreen (1)

$

2,671 

 

 -

 

4,769 

 

 -

Bluegreen / Big Cedar Vacations (2)

 

3,317 

 

3,519 

 

5,924 

 

6,166 

Joint ventures and other

 

(30)

 

(66)

 

(175)

 

(76)

Net income attributable to noncontrolling interests

$

5,958 

 

3,453 

 

10,518 

 

6,090 





(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.