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Noncontrolling Interest - Operating Partnership
 9 Months Ended
Sep. 30, 2016
Noncontrolling Interest [Abstract]  
Noncontrolling Interest - Operating Partnership
Noncontrolling Interest - Operating Partnership
The following table shows the ownership interests as of September 30, 2016 and 2015, and the portion of net income (loss) and distributions for the nine months ended September 30, 2016 and 2015:
IN MILLIONS
 
 
 
 
As of
September 30, 2016
September 30, 2015
 
The Company
CBI
The Company
CBI
Operating partnership units
83.5

—

66.3

6.3

Ownership %
100.0
%
—
%
91.3
%
8.7
%
Portion of net income (loss)
19.1

—

(14.4
)
(4.6
)
Distributions
(92.0
)
—

(54.0
)
(14.3
)

Prior to the IPO, the operating partnership received a contribution of interests in real estate properties and the assumption of debt and other specified liabilities from CBI in exchange for the issuance of 123.7 million operating partnership units of CyrusOne LP to CBI. Subsequent to December 31, 2012, CyrusOne LP executed a 2.8 to 1.0 reverse unit split, resulting in CBI owning 44.1 million operating partnership units. On January 24, 2013, CBI exchanged 1.5 million operating partnership units for common shares of CyrusOne Inc.
After the IPO on January 24, 2013, CBI retained a noncontrolling interest in the operating partnership of 66.1%. The Company completed public offerings in 2014 and 2015 in which the proceeds were used to acquire the limited partnership interests in the operating partnership from CBI.
As of December 31, 2015, CBI owned approximately 9.5% of the Company’s common stock, and all of the operating partnership units of CyrusOne LP were owned, directly or indirectly, by the Company.
CyrusOne Inc. had no noncontrolling interests as of September 30, 2016, and CBI owned less than 5.0% of the Company's common stock.