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

9 Months Ended

Sep. 30, 2020

Stockholders Equity Including Portion Attributable To Noncontrolling Interest [Abstract]

Schedule of Dividends Declared and Paid

The following table sets forth the distributions declared and/or paid during the periods presented:

Date Declared	Amount Per Share		Record Date	Payment Date
November 13, 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
August 13, 2019	$	0.28	September 30, 2019	October 15, 2019
November 5, 2019	$	0.29	December 31, 2019	January 15, 2020
February 26, 2020	$	0.29	March 31, 2020	April 15, 2020

Summary of Activity in Accumulated Other Comprehensive Loss

The following tables set forth the activity in accumulated other comprehensive loss for three and nine months ended September 30, 2020 and 2019 (in thousands):

	Gains or Losses on Derivative Instruments
Balance at July 1, 2020	$	(90,209	)
Other comprehensive income before reclassifications - swap agreements		952
Reclassification of realized interest on swap agreements		5,506
Net current period other comprehensive income		6,458
Net current period other comprehensive income attributable to noncontrolling    interests		(2,122	)
Balance at September 30, 2020	$	(85,873	)
Balance at July 1, 2019	$	(29,570	)
Other comprehensive loss before reclassifications - swap agreements		(15,388	)
Reclassification of realized interest on swap agreements		(288	)
Net current period other comprehensive loss		(15,676	)
Net current period other comprehensive loss attributable to noncontrolling    interests		1,108
Balance at September 30, 2019	$	(44,138	)

	Gains or Losses on Derivative Instruments
Balance at January 1, 2020	$	(31,175	)
Other comprehensive loss before reclassifications - swap agreements		(82,444	)
Reclassification of realized interest on swap agreements		9,598
Net current period other comprehensive loss		(72,846	)
Net current period other comprehensive loss attributable to noncontrolling    interests		18,148
Balance at September 30, 2020	$	(85,873	)
Balance at January 1, 2019	$	516
Other comprehensive loss before reclassifications - swap agreements		(51,347	)
Reclassification of realized interest on swap agreements		(1,374	)
Net current period other comprehensive loss		(52,721	)
Net current period other comprehensive loss attributable to noncontrolling    interests		8,067
Balance at September 30, 2019	$	(44,138	)

Summary of Change in Noncontrolling Interest

The following tables summarize the change in the noncontrolling interests for the three and nine months ended September 30, 2020 and 2019 (dollars in thousands):

	Noncontrolling Interests in Operating Partnership (a)			Noncontrolling Interests in Partially-Owned Affiliates (b)			Total
Balance at July 1, 2020	$	90,321		$	547,418		$	637,739
Distributions on Preferred OP Units		(123	)		—			(123	)
Net loss for the three months ended September 30, 2020		(352	)		(28,907	)		(29,259	)
Other comprehensive loss - unrealized earnings (loss) on valuation of swap agreements		183			(166	)		17
Reclassification of realized interest expense on swap agreements		63			2,042			2,105
Noncontrolling interest contributions		—			8,427			8,427
Noncontrolling interest distributions		—			(20,117	)		(20,117	)
Employee Long-term Incentive Plan Unit Awards		2,181			—			2,181
Reallocation of noncontrolling interests (c)		(2,100	)		—			(2,100	)
Balance at September 30, 2020	$	90,173		$	508,697		$	598,870
Balance at July 1, 2019	$	103,705		$	515,205		$	618,910
Distributions declared of $0.28 per Common OP Unit		(1,765	)		—			(1,765	)
Net income (loss) for the three months ended September 30, 2019		785			(2,403	)		(1,618	)
Conversion of 41,646 Common OP Units to Common Shares by limited partners of the Operating Partnership		(720	)		—			(720	)
Other comprehensive income - unrealized loss on valuation of swap agreements		(864	)		(251	)		(1,115	)
Reclassification of realized interest expense on swap agreements		(16	)		23			7
Noncontrolling interest contributions		—			129,438			129,438
Noncontrolling interest distributions		—			(29,713	)		(29,713	)
Employee Long-term Incentive Plan Unit Awards		1,768			—			1,768
Reallocation of noncontrolling interests (c)		(5,251	)		—			(5,251	)
Balance at September 30, 2019	$	97,642		$	612,299		$	709,941

	Noncontrolling Interests in Operating Partnership (a)			Noncontrolling Interests in Partially-Owned Affiliates (b)			Total
Balance at January 1, 2020	$	97,670		$	546,987		$	644,657
Distributions declared of $0.29 per Common OP Unit		(2,095	)		—			(2,095	)
Net income (loss) for the nine months ended September 30, 2020		570			(35,958	)		(35,388	)
Conversion of 407,594 Common OP Units to Common Shares by limited partners of the Operating Partnership		(6,544	)		—			(6,544	)
Other comprehensive loss - unrealized loss on valuation of swap agreements		(3,268	)		(18,423	)		(21,691	)
Cumulative effect of change in accounting principle (Note 1)		—			(11	)		(11	)
Acquisition of noncontrolling interest		—			588			588
Reclassification of realized interest expense on swap agreements		111			3,432			3,543
Noncontrolling interest contributions		—			36,736			36,736
Noncontrolling interest distributions		—			(24,654	)		(24,654	)
Employee Long-term Incentive Plan Unit Awards		7,973			—			7,973
Reallocation of noncontrolling interests (c)		(4,244	)		—			(4,244	)
Balance at September 30, 2020	$	90,173		$	508,697		$	598,870
Balance at January 1, 2019	$	104,223		$	518,219		$	622,442
Distributions declared of $0.84 per Common OP Unit		(5,322	)		—			(5,322	)
Net income (loss) for the nine months ended September 30, 2019		2,437			(27,633	)		(25,196	)
Conversion of 249,464 Common OP Units to Common Shares by limited partners of the Operating Partnership		(4,230	)		—			(4,230	)
Other comprehensive income - unrealized loss on valuation of swap agreements		(2,686	)		(5,320	)		(8,006	)
Reclassification of realized interest expense on swap agreements		(61	)		—			(61	)
Noncontrolling interest contributions		—			161,628			161,628
Noncontrolling interest distributions		—			(34,595	)		(34,595	)
Employee Long-term Incentive Plan Unit Awards		6,965			—			6,965
Reallocation of noncontrolling interests (c)		(3,684	)		—			(3,684	)
Balance at September 30, 2019	$	97,642		$	612,299		$	709,941

(a) Noncontrolling interests in the Operating Partnership are comprised of (i) the limited partners’ 3,101,958 and 3,306,879 Common OP Units at September 30, 2020 and September 30, 2019; (ii) 188 Series A Preferred OP Units at September 30, 2020 and September 30, 2019; (iii) 126,593 and 136,593 Series C Preferred OP Units at September 30, 2020 and September 30, 2019; and (iv) 2,886,207 and 2,673,610 LTIP units at September 30, 2020 and September 30, 2019, 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.