Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2018

Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]

Summary of Activity in Accumulated Other Comprehensive Income

The following table sets forth the activity in accumulated other comprehensive income for the nine months ended September 30, 2018 and 2017 (in thousands):

	Gains or Losses on Derivative Instruments
Balance at January 1, 2018	$	2,614
Other comprehensive income before reclassifications		12,576
Reclassification of realized interest on swap agreements		417
Net current period other comprehensive income		12,993
Net current period other comprehensive income attributable to noncontrolling    interests		(2,340	)
Balance at September 30, 2018	$	13,267
Balance at January 1, 2017	$	(798	)
Other comprehensive income before reclassifications		(2,652	)
Reclassification of realized interest on swap agreements		2,637
Net current period other comprehensive income		(15	)
Net current period other comprehensive loss attributable to noncontrolling    interests		260
Balance at September 30, 2017	$	(553	)

Summary of Change in Noncontrolling Interest

The following table summarizes the change in the noncontrolling interests for the nine months ended September 30, 2018 and 2017 (dollars in thousands):

	Noncontrolling Interests in Operating Partnership (a)			Noncontrolling Interests in Partially-Owned Affiliates (b)			Total
Balance at January 1, 2018	$	102,921		$	545,519		$	648,440
Distributions declared of $0.81 per Common OP Unit		(5,126	)		—			(5,126	)
Net income (loss) for the nine months ended September 30, 2018		1,977			(35,313	)		(33,336	)
Conversion of 111,588 Common OP Units to Common Shares by limited partners of the Operating Partnership		(1,957	)		—			(1,957	)
Other comprehensive income - unrealized gain on valuation of swap agreements		625			1,435			2,060
Reclassification of realized interest expense on swap agreements		10			270			280
Noncontrolling interest contributions		—			46,990			46,990
Noncontrolling interest distributions		—			(24,654	)		(24,654	)
Employee Long-term Incentive Plan Unit Awards		7,924			—			7,924
Rebalancing adjustment (c)		(2,581	)		—			(2,581	)
Balance at September 30, 2018	$	103,793		$	534,247		$	638,040
Balance at January 1, 2017	$	95,422		$	494,126		$	589,548
Distributions declared of $0.78 per Common OP Unit		(4,805	)		—			(4,805	)
Net income (loss) for the nine months ended September 30, 2017		2,816			(4,010	)		(1,194	)
Conversion of 61,150 Common OP Units to Common Shares by limited partners of the Operating Partnership		(1,086	)		—			(1,086	)
Other comprehensive income - unrealized loss on valuation of swap agreements		(68	)		(726	)		(794	)
Reclassification of realized interest expense on swap agreements		116			418			534
Noncontrolling interest contributions		—			20,522			20,522
Noncontrolling interest distributions		—			(7,278	)		(7,278	)
Employee Long-term Incentive Plan Unit Awards		8,704			—			8,704
Rebalancing adjustment (c)		2,105			—			2,105
Balance at September 30, 2017	$	103,204		$	503,052		$	606,256

(a) Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,331,440 and 3,328,873 Common OP Units at September 30, 2018 and December 31, 2017; (ii) 188 Series A Preferred OP Units at September 30, 2018 and December 31, 2017; (iii) 136,593 Series C Preferred OP Units at September 30, 2018 and December 31, 2017; and (iv) 2,547,002 and 2,274,147 LTIP units at September 30, 2018 and December 31, 2017, respectively, as discussed in Share Incentive Plan (Note 13). Distributions declared for Preferred OP Units are reflected in net income (loss) in the table above.

(b) Noncontrolling interests in partially-owned affiliates comprise third-party interests in Funds II, III, IV and V, and Mervyns I and II, and six other subsidiaries.

(c) Adjustment reflects the difference between the fair value of the consideration received or paid and the book value of the Common Shares, Common OP Units, Preferred OP Units, and LTIP Units involving changes in ownership (the “Rebalancing”).