Note 9 - Redeemable Noncontrolling Interests

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Noncontrolling Interest Disclosure [Text Block]

9.

Redeemable Noncontrolling Interests

Redeemable noncontrolling interests includes amounts related to partnership units issued by consolidated subsidiaries of the Company in connection with certain property acquisitions.  Partnership units which are determined to be contingently redeemable under the FASB’s Distinguishing Liabilities from Equity guidance are classified as Redeemable noncontrolling interests and presented in the mezzanine section between Total liabilities and Stockholder’s equity on the Company’s Condensed Consolidated Balance Sheets. The amounts of consolidated net income attributable to the Company and to the noncontrolling interests are presented on the Company’s Condensed Consolidated Statements of Income.

The following table presents the change in the redemption value of the Redeemable noncontrolling interests for the

three

months ended

March

31,

2017

and

2016

(amounts in thousands):

	2017			2016
Balance at January 1,	$	86,953		$	86,709
Issuance of redeemable partnership interests (1)		10,000			-
Income		1,066			1,078
Distributions		(988	)		(1,082	)
Balance at March 31,	$	97,031		$	86,705

(1) During the three months ended March 31, 2017, KIM Lincoln, a wholly owned subsidiary of the Company, and Lincoln Member entered in a joint venture agreement wherein KIM Lincoln has a 90% controlling interest and Lincoln Member 10% noncontrolling interest (See Footnote 3).