Noncontrolling Interests (Tables)

9 Months Ended

Sep. 30, 2014

Noncontrolling Interests

Schedule of the change in the carrying value of all noncontrolling interests

The following table represents the change in the carrying value of all noncontrolling interests through September 30, 2014 (dollars in thousands):

	Tau Operating			Realty Income, L.P.
	Partnership units(1)			units(2)			Total
Carrying value at December 31, 2013	$	13,489		$	22,422		$	35,911
Reallocation of equity	-			(6,647		)	(6,647		)
Redemptions	-			(294		)	(294		)
Distributions	(521		)	(869		)	(1,390		)
Allocation of net income	218			798			1,016
Carrying value at September 30, 2014	$	13,186		$	15,410		$	28,596

	Tau Operating			Realty Income, L.P.
	Partnership units(1)			units(2)			Total
Fair value of units issued during 2013	$	13,962		$	22,601		$	36,563
Distributions	(691		)	(680		)	(1,371		)
Allocation of net income	218			501			719
Carrying value at December 31, 2013	$	13,489		$	22,422		$	35,911

(1) 317,022 Tau Operating Partnership units were issued on January 22, 2013 and remain outstanding as of September 30, 2014.

(2) 534,546 Realty Income, L.P. units were issued on June 27, 2013, and 524,546 units remain outstanding as of September 30, 2014.