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

3 Months Ended

Mar. 31, 2019

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 three months ended March 31, 2019 and 2018 (in thousands):

	Gains or Losses on Derivative Instruments
Balance at January 1, 2019	$	516
Other comprehensive loss before reclassifications		(13,306	)
Reclassification of realized interest on swap agreements		(551	)
Net current period other comprehensive loss		(13,857	)
Net current period other comprehensive loss attributable to noncontrolling    interests		2,320
Balance at March 31, 2019	$	(11,021	)
Balance at January 1, 2018	$	2,614
Other comprehensive income before reclassifications		5,653
Reclassification of realized interest on swap agreements		363
Net current period other comprehensive income		6,016
Net current period other comprehensive income attributable to noncontrolling    interests		(1,254	)
Balance at March 31, 2018	$	7,376

Summary of Change in Noncontrolling Interest

The following table summarizes the change in the noncontrolling interests for the three months ended March 31, 2019 and 2018 (dollars in thousands):

	Noncontrolling Interests in Operating Partnership (a)			Noncontrolling Interests in Partially-Owned Affiliates (b)			Total
Balance at January 1, 2019	$	104,223		$	518,219		$	622,442
Distributions declared of $0.28 per Common OP Unit		(1,781	)		—			(1,781	)
Net income (loss) for the three months ended March 31, 2019		931			(10,192	)		(9,261	)
Conversion of 174,529 Common OP Units to Common Shares by limited partners of the Operating Partnership		(2,953	)		—			(2,953	)
Other comprehensive loss - unrealized loss on valuation of swap agreements		(694	)		(1,605	)		(2,299	)
Reclassification of realized interest expense on swap agreements		(22	)		1			(21	)
Noncontrolling interest contributions		—			32,191			32,191
Noncontrolling interest distributions		—			(3,237	)		(3,237	)
Employee Long-term Incentive Plan Unit Awards		3,360			—			3,360
Rebalancing adjustment (c)		1,980			—			1,980
Balance at March 31, 2019	$	105,044		$	535,377		$	640,421
Balance at January 1, 2018	$	102,921		$	545,519		$	648,440
Distributions declared of $0.27 per Common OP Unit		(1,721	)		—			(1,721	)
Net income (loss) for the three months ended March 31, 2018		612			(12,191	)		(11,579	)
Conversion of 36,126 Common OP Units to Common Shares by limited partners of the Operating Partnership		(642	)		—			(642	)
Other comprehensive income - unrealized gain on valuation of swap agreements		274			886			1,160
Reclassification of realized interest expense on swap agreements		10			84			94
Noncontrolling interest distributions		—			(695	)		(695	)
Employee Long-term Incentive Plan Unit Awards		3,716			—			3,716
Rebalancing adjustment (c)		1,225			—			1,225
Balance at March 31, 2018	$	106,395		$	533,603		$	639,998

(a) Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,325,240 and 3,328,873 Common OP Units at March 31, 2019 and March 31, 2018; (ii) 188 Series A Preferred OP Units at March 31, 2019 and March 31, 2018; (iii) 136,593 Series C Preferred OP Units at March 31, 2019 and March 31, 2018; and (iv) 2,726,043 and 2,619,872 LTIP units at March 31, 2019 and March 31, 2018, respectively, as discussed in Share Incentive Plan (). 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 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”).