Note 16 - Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

16.

Accumulated Other Comprehensive Income

In accordance with the adoption of ASU

2016

-

01,

the Company recorded a cumulative-effect adjustment of

$1.1

million to beginning retained earnings as of

January 1, 2018,

which is reflected in Cumulative distributions in excess of net income on the Company’s Condensed Consolidated Statements of Changes in Equity, to reclassify unrealized losses previously reported in AOCI for available-for-sale marketable securities (See Footnotes

2

and

9

to the Notes to the Company’s Condensed Consolidated Financial Statements for additional disclosure).

The following tables display the change in the components of accumulated other comprehensive income for the

nine

months ended

September 30, 2018

and

2017

(in thousands):

	Unrealized Gain/( Loss ) on Interest Rate Swap
Balance as of January 1, 2018, as adjusted	$	(344	)
Other comprehensive income before reclassifications		437
Amounts reclassified from AOCI (1)		(93	)
Net current-period other comprehensive income		344
Balance as of September 30, 2018	$	-

( 1 ) Amounts reclassified to Other income, net on the Company’s Condensed Consolidated Statements of Income.

	Foreign Currency Translation Adjustments			Unrealized Gains Related to  Available- for-Sale Securities			Unrealized Loss on Interest Rate Swap			Total
Balance as of January 1, 2017	$	6,335		$	406		$	(975	)	$	5,766
Other comprehensive income before reclassifications		3,711			(1,466	)		308			2,553
Amounts reclassified from AOCI (1)		(10,046	)		-			-			(10,046	)
Net current-period other comprehensive income		(6,335	)		(1,466	)		308			(7,493	)
Balance as of September 30, 2017	$	-		$	(1,060	)	$	(667	)	$	(1,727	)

( 1 ) During the nine months ended September 30, 2017, the Company was deemed to have substantially liquidated its investment in Canada and as a result, recognized a net cumulative foreign currency translation gain. Amounts were reclassified to the Company’s Consolidated Statements of Income as follows (i) $14.8 million of gain was reclassified to Equity in income of other real estate investments, net, and (ii) $4.8 million of loss was reclassified to Equity in income of joint ventures, net.