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Subsequent Events | 9 Months Ended
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Sep. 30, 2019
Subsequent Events [Abstract] |
Subsequent Events |
1 6. | Subsequent Events
On July 3, 2019, we announced our intention to acquire Telford Homes Plc (Telford) in our Real Estate Investments segment. Telford develops multifamily residential properties in the London area. The acquisition closed on October 1, 2019 and was funded through a combination of cash on hand and borrowings under our revolving credit facility. Telford shareholders received £3.50 per share in cash, valuing Telford at £267.1 million, or $329.0 million as of the acquisition date. In addition, upon acquisition we assumed $110.9 million (£90.0 million) of debt from Telford (that we repaid in full shortly after closing) and acquired cash from Telford of $7.9 million (£6.4 million). During the month of October 2019, we spent $51.0 million to repurchase an additional 1,003,485 shares of our Class A common stock with an average price paid per share of $50.85.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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