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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Statement of Comprehensive Income [Abstract]      
Net income (loss) $ 184,636 $ 48,924 $ (3,173)
Other comprehensive income (loss)      
Interest rate caps and swaps [1] 31,698 17,960 (23,070)
Pension adjustment [2] (183) 452 (84)
Reclassification of the Company's share of previously deferred derivative gains to net income [3] (6,723) 0 0
Deconsolidation of 110 North Wacker [4] 0 0 12,934
Share of investee’s other comprehensive income [5] 0 5,721 1,002
Other comprehensive income (loss) 24,792 24,133 (9,218)
Comprehensive income (loss) 209,428 73,057 (12,391)
Comprehensive (income) loss attributable to noncontrolling interests (103) 7,176 (22,981)
Comprehensive income (loss) attributable to common stockholders $ 209,325 $ 80,233 $ (35,372)
[1] Amounts are shown net of deferred tax expense of $9.5 million for the year ended December 31, 2022, deferred tax expense of $5.1 million for the year ended December 31, 2021, and deferred tax benefit of $5.3 million for the year ended December 31, 2020.
[2] The deferred tax impact was not meaningful for the years ended December 31, 2022, 2021 and 2020.
[3] In March 2022, the Company completed the sale of its ownership interest in 110 North Wacker and released a net of $6.7 million from Accumulated other comprehensive income (loss), representing the Company’s $8.6 million share of previously deferred gains associated with the Venture’s derivative instruments net of tax expense of $1.9 million. See Note 2 - Investments in Unconsolidated Ventures for additional information.
[4] The amount for 2020 represents the derecognition of Other comprehensive income (loss) related to interest rate collars on the 110 North Wacker debt, shown net of deferred tax expense of $1.0 million.
[5] Amounts are shown net of deferred tax expense of $1.6 million for the year ended December 31, 2021, and $0.3 million for the year ended December 31, 2020.