Quarterly report pursuant to Section 13 or 15(d)

Noncontrolling Interests

v3.21.2
Noncontrolling Interests
6 Months Ended
Jun. 30, 2021
Noncontrolling Interests [Abstract]  
Noncontrolling Interests 11. Noncontrolling Interests Noncontrolling interests in the Company’s consolidated subsidiaries consisted of the following (in thousands): As of As of June 30, December 31, 2021 2020 Bluegreen (1) $ — $ 22,821Bluegreen/Big Cedar Vacations (2) 58,073 52,026Total noncontrolling interests $ 58,073 $ 74,847 (1)Prior to May 5, 2021, the Company beneficially owned approximately 93% of Bluegreen’s outstanding common stock. As a result of the merger effected on May 5, 2021, Bluegreen is now a wholly owned subsidiary. (2)Bluegreen owns 51% of Bluegreen/Big Cedar Vacations. See “Our Business” under Note 1 above for information regarding the statutory short-form merger effected on May 5, 2021, pursuant to which the Company acquired all of the approximately 7% of the outstanding shares of Bluegreen’s common stock that the Company did not previously beneficially own. During the 2021 period prior to the short-form merger, Bluegreen did not repurchase or retire any shares of its common stock. During the six months ended June 30, 2020, Bluegreen repurchased 1,878,400 shares of its common stock in a private transaction for $11.7 million and retired those shares. ‎ Income (loss) attributable to noncontrolling interests from continuing operations consisted of the following (in thousands): For the Three Months Ended For the Six Months Ended June 30, June 30, 2021 2020 2021 2020 Bluegreen $ 497 $ (636) $ 861 $ (421)Bluegreen/Big Cedar Vacations 3,881 641 6,047 1,377Net income attributable to noncontrolling interest - continuing operations $ 4,378 $ 5 $ 6,908 $ 956