Redeemable noncontrolling interests on our consolidated balance sheets are comprised primarily of Class A Operating Partnership units that are held by third parties and are recorded at the greater of their carrying amount or redemption value at the end of each reporting period. Changes in the value from period to period are charged to “additional capital” in our consolidated statements of changes in equity. Below is a table summarizing the activity of redeemable noncontrolling interests.

(Amounts in thousands)
Balance at December 31, 2012	$	944,152
Net income		28,960
Other comprehensive income		5,982
Distributions		(25,827)
Redemption of Class A units for common shares, at redemption value		(19,627)
Adjustments to carry redeemable Class A units at redemption value		43,709
Redemption of Series D-15 redeemable units		(36,900)
Other, net		10,649
Balance at September 30, 2013	$	951,098

Balance at December 31, 2013	$	1,003,620
Net income		16,552
Other comprehensive loss		(109)
Distributions		(25,166)
Redemption of Class A units for common shares, at redemption value		(22,668)
Adjustments to carry redeemable Class A units at redemption value		144,231
Other, net		23,592
Balance at September 30, 2014	$	1,140,052

As of September 30, 2014 and December 31, 2013, the aggregate redemption value of redeemable Class A units was $1,139,052,000 and $1,002,620,000, respectively.

Redeemable noncontrolling interests exclude our Series G-1 through G-4 convertible preferred units and Series D-13 cumulative redeemable preferred units, as they are accounted for as liabilities in accordance with ASC 480, Distinguishing Liabilities and Equity, because of their possible settlement by issuing a variable number of Vornado common shares. Accordingly, the fair value of these units is included as a component of “other liabilities” on our consolidated balance sheets and aggregated $55,097,000 as of September 30, 2014 and December 31, 2013.