Bluegreen Vacations Holding Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Noncontrolling Interests And Redeemable Noncontrolling Interest

Noncontrolling Interests And Redeemable Noncontrolling Interest

3 Months Ended

Mar. 31, 2019

Noncontrolling Interests And Redeemable Noncontrolling Interest [Abstract]

Noncontrolling Interests And Redeemable Noncontrolling Interest

14. Noncontrolling Interests and Redeemable Noncontrolling Interest

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



		March 31,	December 31,
		2019	2018
Bluegreen (1)	$	41,721	41,478
Bluegreen / Big Cedar Vacations (2)		47,327	45,611
Joint ventures and other		1,079	899
Total noncontrolling interests	$	90,127	87,988

The redeemable noncontrolling interest included in the Company’s condensed consolidated statement 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
		March 31,
		2019	2018
Bluegreen (1)	$	1,463	2,098
Bluegreen / Big Cedar Vacations (2)		1,716	2,607
Joint ventures and other		(40)	(145)
Net income attributable to noncontrolling interests	$	3,139	4,560

(1)

As a result of Bluegreen’s IPO during the fourth quarter of 2017 and subsequent share repurchases in 2018, the Company owns 90.3% of Bluegreen. Bluegreen was a wholly-owned subsidiary of the Company prior to the Bluegreen IPO.

(2)

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