Investments in Unconsolidated Subsidiaries

12 Months Ended

Dec. 31, 2019

Equity Method Investments And Joint Ventures [Abstract]

Investments in Unconsolidated Subsidiaries

10.	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 50.0%.

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

Condensed Balance Sheets Information:

	December 31,
		2019		2018
Current assets	$	5,407,082	$	3,931,111
Non-current assets		20,414,598		16,578,905
Total assets	$	25,821,680	$	20,510,016
Current liabilities	$	2,241,930	$	1,919,955
Non-current liabilities		5,857,413		4,495,117
Total liabilities	$	8,099,343	$	6,415,072
Non-controlling interests	$	461,018	$	261,654

Condensed Statements of Operations Information:

	Year Ended December 31,
		2019		2018		2017
Revenue	$	1,545,424	$	1,524,685	$	1,392,590
Operating income		549,111		906,889		1,425,824
Net income		419,966		679,712		1,254,345

Our Real Estate Investments segment invests our own capital in certain real estate investments with clients. We have provided investment management, property management, brokerage and other professional services in connection with these real estate investments on an arm’s length basis and earned revenues from these unconsolidated subsidiaries of $97.0 million, $134.3 million and $100.3 million during the years ended December 31, 2019, 2018 and 2017, respectively.