XML 38 R23.htm IDEA: XBRL DOCUMENT v3.22.2
Noncontrolling Interests
 6 Months Ended
Jun. 30, 2022
Noncontrolling Interest [Abstract]  
Noncontrolling Interests Noncontrolling Interests
Noncontrolling Interests in Consolidated Affiliates

At June 30, 2022, our noncontrolling interests in consolidated affiliates relate to our joint venture partners’ 50.0% interest in office properties in Richmond and 20.0% interest in the Midtown West joint venture. Our joint venture partners are unrelated third parties.

Noncontrolling Interests in the Operating Partnership

The following table sets forth the Company’s noncontrolling interests in the Operating Partnership:

Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Beginning noncontrolling interests in the Operating Partnership$114,570 $121,895 $111,689 $112,499 
Adjustment of noncontrolling interests in the Operating Partnership to fair value(28,696)6,068 (25,528)15,334 
Conversions of Common Units to Common Stock(1,251)(44)(1,251)(44)
Net income attributable to noncontrolling interests in the Operating Partnership1,203 1,624 2,168 3,117 
Distributions to noncontrolling interests in the Operating Partnership(1,243)(1,363)(2,495)(2,726)
Total noncontrolling interests in the Operating Partnership$84,583 $128,180 $84,583 $128,180 

The following table sets forth net income available for common stockholders and transfers from the Company’s noncontrolling interests in the Operating Partnership:

Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Net income available for common stockholders$50,511 $59,305 $90,771 $113,764 
Increase in additional paid in capital from conversions of Common Units to Common Stock1,251 44 1,251 44 
Change from net income available for common stockholders and transfers from noncontrolling interests$51,762 $59,349 $92,022 $113,808