Quarterly report pursuant to Section 13 or 15(d)

Noncontrolling Interests And Redeemable Noncontrolling Interest

v3.20.2
Noncontrolling Interests And Redeemable Noncontrolling Interest
9 Months Ended
Sep. 30, 2020
Noncontrolling Interests And Redeemable Noncontrolling Interest [Abstract]  
Noncontrolling Interests And Redeemable Noncontrolling Interest 10. Noncontrolling Interests and Redeemable Noncontrolling Interest

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

September 30,

December 31,

2020

2019

Bluegreen (1)

$

22,320

39,740

Bluegreen / Big Cedar Vacations (2)

53,555

49,534

Other (3)

1,001

Total noncontrolling interests

$

75,875

90,275

During the nine months ended September 30, 2020, Bluegreen repurchased and retired 1,878,400 shares of its common stock for $11.7 million.

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

For the Three Months Ended

For the Nine Months Ended

September 30,

September 30,

2020

2019

2020

2019

Bluegreen (1)

$

713

1,962

293

2,346

Bluegreen / Big Cedar Vacations (2)

2,644

2,248

4,021

9,095

Net income (loss) attributable to noncontrolling interests - continuing operations

$

3,357

4,210

4,314

11,441

 

 

 

(1)As a result of Bluegreen’s IPO during the fourth quarter of 2017 and subsequent share repurchases in 2018 and 2020, the Company owned approximately 93% of Bluegreen as of September 30, 2020. Bluegreen was a wholly-owned subsidiary of the Company immediately prior to the Bluegreen IPO.

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

(3)Reflects the spin-off of BBX Capital on September 30, 2020.