Shareholders' Equity, Noncontrolling Interests and Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2019

Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]

Schedule of Dividends Declared and Paid

The following table sets forth the dividends declared and/or paid during the six months ended June 30, 2019:

Date Declared	Amount Per Share		Record Date	Payment Date
November 15, 2018	$	0.28	December 31, 2018	January 15, 2019
February 28, 2019	$	0.28	March 29, 2019	April 15, 2019
May 9, 2019	$	0.28	June 28, 2019	July 15, 2019

Summary of Activity in Accumulated Other Comprehensive Income

The following tables set forth the activity in accumulated other comprehensive income for the three and six months ended June 30, 2019 and 2018 (in thousands):

	Gains or Losses on Derivative Instruments
Balance at April 1, 2019	$	(11,021	)
Other comprehensive loss before reclassifications		(22,652	)
Reclassification of realized interest on swap agreements		(535	)
Net current period other comprehensive loss		(23,187	)
Net current period other comprehensive loss attributable to noncontrolling    interests		4,638
Balance at June 30, 2019	$	(29,570	)
Balance at April 1, 2018	$	7,376
Other comprehensive income before reclassifications		2,950
Reclassification of realized interest on swap agreements		109
Net current period other comprehensive income		3,059
Net current period other comprehensive income attributable to noncontrolling    interests		(297	)
Balance at June 30, 2018	$	10,138

	Gains or Losses on Derivative Instruments
Balance at January 1, 2019	$	516
Other comprehensive loss before reclassifications		(35,958	)
Reclassification of realized interest on swap agreements		(1,086	)
Net current period other comprehensive loss		(37,044	)
Net current period other comprehensive loss attributable to noncontrolling    interests		6,958
Balance at June 30, 2019	$	(29,570	)
Balance at January 1, 2018	$	2,614
Other comprehensive income before reclassifications		8,603
Reclassification of realized interest on swap agreements		472
Net current period other comprehensive income		9,075
Net current period other comprehensive income attributable to noncontrolling    interests		(1,551	)
Balance at June 30, 2018	$	10,138

Summary of Change in Noncontrolling Interest

The following tables summarize the change in the noncontrolling interests for the three and six months ended June 30, 2019 and 2018 (dollars in thousands):

	Noncontrolling Interests in Operating Partnership (a)			Noncontrolling Interests in Partially-Owned Affiliates (b)			Total
Balance at April 1, 2019	$	105,044		$	535,377		$	640,421
Distributions declared of $0.28 per Common OP Unit		(1,776	)		—			(1,776	)
Net income (loss) for the three months ended June 30, 2019		722			(15,039	)		(14,317	)
Conversion of 33,289 Common OP Units to Common Shares by limited partners of the Operating Partnership		(557	)		—			(557	)
Other comprehensive loss - unrealized loss on valuation of swap agreements		(1,127	)		(3,464	)		(4,591	)
Reclassification of realized interest expense on swap agreements		(23	)		(24	)		(47	)
Noncontrolling interest distributions		—			(1,645	)		(1,645	)
Employee Long-term Incentive Plan Unit Awards		1,835			—			1,835
Reallocation of noncontrolling interests (c)		(413	)		—			(413	)
Balance at June 30, 2019	$	103,705		$	515,205		$	618,910
Balance at April 1, 2018	$	106,395		$	533,603		$	639,998
Distributions declared of $0.27 per Common OP Unit		(1,713	)		—			(1,713	)
Net income (loss) for the three months ended June 30, 2018		633			(10,568	)		(9,935	)
Conversion of 28,512 Common OP Units to Common Shares by limited partners of the Operating Partnership		(481	)		—			(481	)
Other comprehensive income - unrealized gain on valuation of swap agreements		154			44			198
Reclassification of realized interest expense on swap agreements		9			90			99
Noncontrolling interest contributions		—			6,550			6,550
Noncontrolling interest distributions		—			(14,945	)		(14,945	)
Employee Long-term Incentive Plan Unit Awards		2,126			—			2,126
Reallocation of noncontrolling interests (c)		(2,023	)		—			(2,023	)
Balance at June 30, 2018	$	105,100		$	514,774		$	619,874

	Noncontrolling Interests in Operating Partnership (a)			Noncontrolling Interests in Partially-Owned Affiliates (b)			Total
Balance at January 1, 2019	$	104,223		$	518,219		$	622,442
Distributions declared of $0.56 per Common OP Unit		(3,557	)		—			(3,557	)
Net income (loss) for the six months ended June 30, 2019		1,653			(25,231	)		(23,578	)
Conversion of 207,818 Common OP Units to Common Shares by limited partners of the Operating Partnership		(3,510	)		—			(3,510	)
Other comprehensive loss - unrealized loss on valuation of swap agreements		(1,822	)		(5,068	)		(6,890	)
Reclassification of realized interest expense on swap agreements		(44	)		(24	)		(68	)
Noncontrolling interest contributions		—			32,191			32,191
Noncontrolling interest distributions		—			(4,882	)		(4,882	)
Employee Long-term Incentive Plan Unit Awards		5,195			—			5,195
Reallocation of noncontrolling interests (c)		1,567			—			1,567
Balance at June 30, 2019	$	103,705		$	515,205		$	618,910
Balance at January 1, 2018	$	102,921		$	545,519		$	648,440
Distributions declared of $0.54 per Common OP Unit		(3,434	)		—			(3,434	)
Net income (loss) for the six months ended June 30, 2018		1,245			(22,759	)		(21,514	)
Conversion of 64,638 Common OP Units to Common Shares by limited partners of the Operating Partnership		(1,123	)		—			(1,123	)
Other comprehensive income - unrealized gain on valuation of swap agreements		428			930			1,358
Reclassification of realized interest expense on swap agreements		19			174			193
Noncontrolling interest contributions		—			6,550			6,550
Noncontrolling interest distributions		—			(15,640	)		(15,640	)
Employee Long-term Incentive Plan Unit Awards		5,842			—			5,842
Reallocation of noncontrolling interests (c)		(798	)		—			(798	)
Balance at June 30, 2018	$	105,100		$	514,774		$	619,874

(a) Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,320,325 and 3,331,440 Common OP Units at June 30, 2019 and June 30, 2018; (ii) 188 Series A Preferred OP Units at June 30, 2019 and June 30, 2018; (iii) 136,593 Series C Preferred OP Units at June 30, 2019 and June 30, 2018; and (iv) 2,715,679 and 2,606,221 LTIP units at June 30, 2019 and June 30, 2018, respectively, as discussed in Share Incentive Plan (Note 13). Distributions declared for Preferred OP Units are reflected in net income (loss) in the table above.

(b) Noncontrolling interests in partially-owned affiliates comprise third-party interests in Funds II, III, IV and V, and Mervyns II, and six other subsidiaries.

(c) Adjustment reflects the difference between the fair value of the consideration received or paid and the book value of the Common Shares, Common OP Units, Preferred OP Units, and LTIP Units involving changes in ownership.