XML 34 R19.htm IDEA: XBRL DOCUMENT
v3.20.4

Investments in Unconsolidated Subsidiaries | 12 Months Ended
--- | ---
Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract] |
Investments in Unconsolidated Subsidiaries | 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):
| December 31,
| 2020 |  | 2019
Combined Condensed Balance Sheets Information: |  |  |
Current assets | $ | 6,508,718 |  |  | $ | 5,407,082 |
Non-current assets | 24,343,229 |  |  | 20,414,598 |
Total assets | $ | 30,851,947 |  |  | $ | 25,821,680 |
Current liabilities | $ | 3,164,135 |  |  | $ | 2,241,930 |
Non-current liabilities | 6,696,352 |  |  | 5,857,413 |
Total liabilities | $ | 9,860,487 |  |  | $ | 8,099,343 |
Non-controlling interests | $ | 460,904 |  |  | $ | 461,018 |
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Combined Condensed Statements of Operations Information: |  |  |  |  |
Revenue | $ | 2,036,818 |  |  | $ | 1,545,424 |  |  | $ | 1,524,685 |
Operating income | 587,689 |  |  | 549,111 |  |  | 906,889 |
Net income | 483,224 |  |  | 419,966 |  |  | 679,712 |
Our Real Estate Investments segment invests our own capital in certain real estate investments with clients. We provided investment management, property management, brokerage and other professional services in connection with these real estate investments and earned revenues from these unconsolidated subsidiaries of $145.9 million, $97.0 million and $134.3 million during the years ended December 31, 2020, 2019 and 2018, respectively. During the fourth quarter 2020, the company made a $50.0 million non-controlling investment in Industrious National Management Company LLC (“Industrious”). See Subsequent Event (Note 22).

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
Name: | us-gaap_EquityMethodInvestmentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration