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Investments in Unconsolidated Subsidiaries

9 Months Ended

Sep. 30, 2017

Equity Method Investments And Joint Ventures [Abstract]

Investments in Unconsolidated Subsidiaries

6. Investments in Unconsolidated Subsidiaries

Investments in unconsolidated subsidiaries are accounted for under the equity method of accounting.  Our investment ownership percentages in equity method investments vary, generally ranging up to 5.0% in our Global Investment Management segment, up to 10.0% in our Development Services segment, and up to 50.0% in our other business segments.

Combined condensed financial information for the entities accounted for using the equity method is as follows (dollars in thousands):

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2017				2016				2017				2016
Global Investment Management
Revenue		$	308,221			$	418,028			$	813,279			$	902,932
Operating (loss) income		$	(59,677	)		$	93,491			$	32,211			$	155,869
Net income		$	36,937			$	52,477			$	101,334			$	118,348
Development Services
Revenue		$	29,273			$	26,179			$	78,276			$	57,255
Operating income		$	152,102			$	26,027			$	329,959			$	184,136
Net income		$	141,489			$	19,745			$	307,641			$	169,837
Other
Revenue		$	46,648			$	40,292			$	116,651			$	106,807
Operating income		$	6,504			$	6,130			$	17,483			$	20,418
Net income		$	7,868			$	6,135			$	21,526			$	20,506
Total
Revenue		$	384,142			$	484,499			$	1,008,206			$	1,066,994
Operating income		$	98,929			$	125,648			$	379,653			$	360,423
Net income		$	186,294			$	78,357			$	430,501			$	308,691

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- References

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- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-URI http://asc.fasb.org/topic&trid=2196965

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