XML 24 R13.htm IDEA: XBRL DOCUMENT v3.5.0.2
Noncontrolling interest
 9 Months Ended
Sep. 30, 2016
Noncontrolling Interest [Abstract]  
Noncontrolling interest
Noncontrolling interests
Investors in certain of the AlphaCat ILS funds have rights that enable them, subject to certain limitations, to redeem their shares. The third party equity is therefore recorded in the Company’s Consolidated Balance Sheets as redeemable noncontrolling interest. When and if a redemption notice is received, the fair value of the redemption is reclassified to a liability.
The AlphaCat sidecars and one of the AlphaCat ILS funds have no shareholder redemption rights. Therefore, the third party equity is recorded in the Company's Consolidated Balance Sheets as noncontrolling interest.
The following tables present a reconciliation of the beginning and ending balances of redeemable noncontrolling interest and noncontrolling interest for the three and nine months ended September 30, 2016 and 2015:
 
Redeemable noncontrolling interest
 
Noncontrolling interest
 
Total noncontrolling interests
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Three Months Ended September 30,
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period
$
1,532,283

 
$
1,035,511

 
$
212,154

 
$
153,523

 
$
1,744,437

 
$
1,189,034

Issuance of shares
700

 
45,000

 
—

 
—

 
700

 
45,000

Income attributable to noncontrolling interest
26,597

 
20,636

 
10,842

 
5,593

 
37,439

 
26,229

Redemption of shares
(6,484
)
 
(6,500
)
 
—

 
—

 
(6,484
)
 
(6,500
)
Redemptions payable
6,484

 
6,500

 
—

 
—

 
6,484

 
6,500

Distributions
—

 
—

 
—

 
—

 
—

 
—

Balance, end of period
$
1,559,580

 
$
1,101,147

 
$
222,996

 
$
159,116

 
$
1,782,576

 
$
1,260,263

 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30,
 
 
 
 
 
 
 
 
 
 
 
Balance, beginning of period
$
1,111,714

 
$
617,791

 
$
154,662

 
$
292,274

 
$
1,266,376

 
$
910,065

Issuance of shares
381,950

 
497,700

 
171,674

 
9,600

 
553,624

 
507,300

Income attributable to noncontrolling interest
72,400

 
51,551

 
23,763

 
15,417

 
96,163

 
66,968

Redemption of shares
(6,484
)
 
(65,895
)
 
—

 
—

 
(6,484
)
 
(65,895
)
Redemptions payable
—

 
—

 
—

 
—

 
—

 
—

Distributions
—

 
—

 
(127,103
)
 
(158,175
)
 
(127,103
)
 
(158,175
)
Balance, end of period
$
1,559,580

 
$
1,101,147

 
$
222,996

 
$
159,116

 
$
1,782,576

 
$
1,260,263