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Note 4 - Investments and Advances in Real Estate Joint Ventures (Detail) - Equity in Income of Joint Ventures (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Equity in income of joint ventures $ 24,111 $ 34,738
KimPru and KimPru II [Member]
   
Equity in income of joint ventures 2,000 [1] 2,000 [1]
KIR [Member]
   
Equity in income of joint ventures 7,100 6,000
UBS Programs [Member]
   
Equity in income of joint ventures 900 (200)
BIG Shopping Centers [Member]
   
Equity in income of joint ventures 2,000 [2] (700) [2]
CPP [Member]
   
Equity in income of joint ventures 1,500 1,300
Kimco Income Fund [Member]
   
Equity in income of joint ventures 700 800
SEB Immobilien [Member]
   
Equity in income of joint ventures 300 100
Other Institutional Programs [Member]
   
Equity in income of joint ventures 300 3,000
RioCan [Member]
   
Equity in income of joint ventures 6,200 5,200
Intown [Member]
   
Equity in income of joint ventures (200) 500
Latin America [Member]
   
Equity in income of joint ventures 1,600 [3] 2,700 [3]
Other Joint Venture Programs [Member]
   
Equity in income of joint ventures $ 1,700 [4],[5],[6],[7],[8] $ 14,000 [4],[5],[6],[7],[8]
[1] During the three months ended March 31, 2013, KimPru recognized an impairment charge of $3.7 million related to the pending sale of a property to the Company, based on the estimated sales price. The Company's share of this impairment charge for the three months ended March 31, 2013 was $0.5 million.
[2] During the three months ended March 31, 2013, BIG recognized a gain on early extinguishment of debt of $13.7 million related to a property that was foreclosed on by a third party lender. The Company's share of this gain was $2.6 million.
[3] During April 2013, the Company entered into an agreement to sell nine operating properties located throughout Mexico which are held in unconsolidated joint ventures in which the Company has noncontrolling interests. This transaction is expected to result in a net gain of approximately $53.2 million, after tax, of which the Company's share is estimated to be approximately $26.6 million. However, based upon the allocation of the purchase price to the individual properties, three of these properties are expected to result in losses aggregating $4.6 million, of which the Company's share is estimated to be $2.3 million. As such, the Company has recorded impairment charges equal to its share of these estimated losses during the three months ended March 31, 2013.
[4] During the three months ended March 31, 2013, a joint venture in which the Company held a noncontrolling interest sold an operating property to the Company for a sales price of $98.0 million. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance. As such, the Company recognized a gain of $22.7 million, before income tax, from the fair value adjustment associated with its original ownership due to a change in control and now consolidates this operating property.
[5] During the three months ended March 31, 2013, a joint venture in which the Company held a noncontrolling interest sold an operating property to the Company for a sales price of $14.2 million. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance. As such the Company recognized a gain of $0.5 million from the fair value adjustment associated with the Company's original ownership due to a change in control and now consolidates this operating property.
[6] During the three months ended March 31, 2012, three joint ventures in which the Company holds noncontrolling interests sold three properties, in separate transactions, for an aggregate sales price of $180.0 million. The Company's share of income related to these transactions was an aggregate gain of $8.3 million.
[7] During the three months ended March 31, 2012, a joint venture in which the Company holds a noncontrolling interest sold two encumbered operating properties to the Company for an aggregate sales price of $75.5 million. As a result of this transaction, the Company recognized promote income of $2.6 million. Additionally, the Company evaluated these transactions pursuant to the FASB's Consolidation guidance. As such, the Company recognized a gain of $2.0 million from the fair value adjustment associated with its original ownership due to a change in control and now consolidates these operating properties.
[8] During the three months ended March 31, 2013, a joint venture in which the Company has a noncontrolling interest recognized an impairment charge of $1.8 million related to the pending sale of one property. The Company's share of this impairment charge was $0.9 million.