Noncontrolling Interests And Redeemable Noncontrolling Interest

3 Months Ended

Mar. 31, 2020

Noncontrolling Interests And Redeemable Noncontrolling Interest [Abstract]

Noncontrolling Interests And Redeemable Noncontrolling Interest

14.    Noncontrolling Interests and Redeemable Noncontrolling Interest

Noncontrolling interests in the Company’s consolidated subsidiaries consisted of the following (in thousands):

	March 31,		December 31,
	2020		2019
Bluegreen (1)	$	28,459		39,740
Bluegreen / Big Cedar Vacations (2)		50,270		49,534
Joint ventures and other		287		1,001
Total noncontrolling interests	$	79,016		90,275

The redeemable noncontrolling interest included in the Company’s condensed consolidated statements of financial condition as of March 31, 2020 and December 31, 2019 of $1.9 million and $4.0 million, respectively, is comprised of a redeemable noncontrolling interest associated with IT’SUGAR. The Company owns 90.4% of IT’SUGAR’s Class B Units, while the remaining 9.6% of such units are a noncontrolling interest held by an executive officer of IT’SUGAR and may be redeemed for cash at the holder’s option upon a contingent event outside of the Company’s control.

During the three months ended March 31, 2020, Bluegreen repurchased and retired 1,878,400 shares of its common stock for $11.7 million.

Income (loss) attributable to noncontrolling interests, including redeemable noncontrolling interests, consisted of the following (in thousands):

	For the Three Months Ended
	March 31,
	2020		2019
Bluegreen (1)	$	216		1,463
Bluegreen / Big Cedar Vacations (2)		736		1,716
IT'SUGAR		(2,743)		(220)
Joint ventures and other		(714)		180
Net (loss) income attributable to noncontrolling interests	$	(2,505)		3,139

(1) As a result of Bluegreen’s IPO during the fourth quarter of 2017 and subsequent share repurchases in 2018 and 2020, the Company owns approximately 93% of Bluegreen. Bluegreen was a wholly-owned subsidiary of the Company immediately prior to the Bluegreen IPO.

(2) Bluegreen has a joint venture arrangement pursuant to which it owns 51% of Bluegreen/Big Cedar Vacations.