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Note 10 - Redeemable Noncontrolling Interests
 6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Noncontrolling Interest Disclosure [Text Block]
10.
Redeemable Noncontrolling Interests
 
Redeemable noncontrolling interests includes amounts related to partnership units issued by consolidated subsidiaries of the Company in connection with certain property acquisitions.  Partnership units which are determined to be contingently redeemable under the FASB’s Distinguishing Liabilities from Equity guidance are classified as Redeemable noncontrolling interests and presented in the mezzanine section between Total liabilities and Stockholder’s equity on the Company’s Condensed Consolidated Balance Sheets. The amounts of consolidated net income attributable to the Company and to the noncontrolling interests are presented on the Company’s Condensed Consolidated Statements of Income.
 
The following table presents the change in the redemption value of the Redeemable noncontrolling interests for the
six
months ended
June 30, 2017
and
2016
(amounts in thousands):
 
 
 
2017
 
 
2016
 
Balance at January 1,
   $
86,953
     $
86,709
  
Issuance of redeemable partnership interests (1)
    
10,000
      
-
  
Income (2)
    
1,109
      
2,147
  
Distributions
    
(2,000
 )    
(2,082
 )
Balance at June 30,
   $
96,062
     $
86,774
  
 
 
(
1
)
During the
six
months ended
June 30, 2017,
KIM Lincoln, a wholly owned subsidiary of the Company, and Lincoln Member entered into a joint venture agreement wherein KIM Lincoln has a
90%
controlling interest and Lincoln Member
10%
noncontrolling interest (See Footnote
3
).
 
(
2
)
Includes
$1.0
million in fair market value remeasurement for the
six
months ended
June 30, 2017.
 
During
July 2017,
the Company redeemed the remaining
79,642,697
Preferred A Units for a total redemption price of
$79.9
million, including an accrued preferred return of
$0.4
million. These Preferred A Units, which had a par value of
$1.00
and return per annum of
5.0%,
were issued during
2006
along with the acquisition of
seven
shopping center properties located in Puerto Rico.