XML 34 R73.htm IDEA: XBRL DOCUMENT v2.4.0.6
Note 8 - Investment and Advances in Real Estate Joint Ventures (Detail) - The Company’s Share of Net Income/(Loss) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Equity in Income of Joint Ventures and Gains on Change in Control $ 112,896 $ 63,467 $ 55,705
KimPru and KimPru II [Member]
      
Equity in Income of Joint Ventures and Gains on Change in Control 7,400 [1],[2],[3] (1,600) [1],[2],[3] (18,400) [1],[2],[3]
KIR [Member]
      
Equity in Income of Joint Ventures and Gains on Change in Control 23,400 [4],[5] 17,300 [4],[5] 19,800 [4],[5]
KUBS [Member]
      
Equity in Income of Joint Ventures and Gains on Change in Control 500 [6] (800) [6] 1,200 [6]
BIG Shopping Centers [Member]
      
Equity in Income of Joint Ventures and Gains on Change in Control (3,700) [7] (2,900) [7] (1,200) [7]
CPP [Member]
      
Equity in Income of Joint Ventures and Gains on Change in Control 5,300 5,200 3,200
Kimco Income Fund [Member]
      
Equity in Income of Joint Ventures and Gains on Change in Control 1,700 1,000 1,000
SEB Immobilien [Member]
      
Equity in Income of Joint Ventures and Gains on Change in Control 700   800
Other Institutional Programs [Member]
      
Equity in Income of Joint Ventures and Gains on Change in Control 19,600 [10],[11],[8],[9] 5,500 [10],[11],[8],[9]    [10],[11],[8],[9]
RioCan [Member]
      
Equity in Income of Joint Ventures and Gains on Change in Control 30,400 [12] 19,700 [12] 18,600 [12]
Intown [Member]
      
Equity in Income of Joint Ventures and Gains on Change in Control 4,000 (1,900) (6,000)
Latin America [Member]
      
Equity in Income of Joint Ventures and Gains on Change in Control 15,800 12,500 10,400
Other Joint Venture Programs [Member]
      
Equity in Income of Joint Ventures and Gains on Change in Control 23,400 [13],[14],[15],[16],[17] 10,000 [13],[14],[15],[16],[17] 5,200 [13],[14],[15],[16],[17]
All Equity Method Investments [Member]
      
Equity in Income of Joint Ventures and Gains on Change in Control $ 128,500 $ 64,000 $ 34,600
[1] KimPru recognized impairment charges of $6.5 million related to the sale of two properties; $53.6 million related to the potential foreclosure of two properties and $161.7 million related to the sale of 26 properties, during the years ended December 31, 2012, 2011 and 2010, respectively. The Company had previously taken other-than-temporary impairment charges on its investment in KimPru and had allocated these impairment charges to the underlying assets of the KimPru joint ventures including a portion to these operating properties. As such, the Company's share of these impairment charges for the years ended December 31, 2012, 2011 and 2010 were $0.8 million, $6.0 million and $14.8 million, respectively.
[2] During 2011, a third party mortgage lender foreclosed on an operating property for which KimPru had previously taken an impairment charge during 2010. As a result of the foreclosure during 2011, KimPru recognized an aggregate gain on early extinguishment of debt of $29.6 million. The Company's share of this gain was $4.4 million, before income taxes.
[3] KimPru II recognized impairment charges of $7.3 million and $25.6 million, during the years ended December 31, 2011 and 2010, respectively. The impairment charges recognized in 2011 related to the foreclosure of one operating property and the impairment charges recognized in 2010 related to the sale of four operating properties. The Company had previously taken other-than-temporary impairment charges on its investment in KimPru II and had allocated these impairment charges to the underlying assets of the KimPru II joint ventures including a portion to these operating properties. As such, the Company's share of these impairment charges for the years ended December 31, 2011 and 2010 were $1.0 million and $3.4 million, respectively.
[4] KIR recognized impairment charges of $4.6 million related to the sale of one operating property and $6.7 million related to the sale of one operating property and one out-parcel during the years ended December 31, 2011 and 2010, respectively. The Company's share of these impairment charges for the years ended December 31, 2011 and 2010 were $2.1 million and $3.0 million, respectively.
[5] During 2010, KIR recognized a gain on early extinguishment of debt of $5.8 million related to a property that was foreclosed on by a third party lender. The Company's share of this gain was $2.6 million.
[6] The UBS Program recognized impairment charges of $13.0 million related to sale of two properties and $9.7 million related to the sale of one property, during the years ended December 31, 2012 and 2011, respectively. The Company's share of these impairment charges for the years ended December 31, 2012 and 2011 were $2.2 million and $1.9 million, respectively. Additionally, during the year ended December 31, 2011, the UBS Program recognized an impairment charge of $5.0 million relating to a property that was anticipated to be foreclosed on by the third party lender in 2012. The Company's share of this impairment charge was $0.8 million. A deed in lieu of foreclosure was given to the third party lender in 2012.
[7] During the year ended December 31, 2012, BIG recognized an impairment charge of $9.0 million on a property that is expected to be foreclosed upon in 2013. The Company's share of this impairment charge was $0.9 million.
[8] During the year ended December 31, 2012, a joint venture in which the Company held a noncontrolling interest sold an operating property to the Company for a sales price of $127.0 million. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance and as such recognized a gain of $12.1 million from the fair value adjustment associated with its original ownership due to a change in control. In addition, the Company recognized promote income of $1.1 million in connection with this transaction.
[9] During the year ended December 31, 2012, the Company acquired four properties from joint ventures in which the Company has a noncontrolling interest. The Company evaluated these transactions pursuant to the FASB's Consolidation guidance and as such recognized an aggregate gain of $14.5 million from the fair value adjustment associated with its original ownership due to a change in control.
[10] During the year ended December 31, 2012, a joint venture in which the Company holds a noncontrolling interest sold two encumbered operating properties to the Company for an aggregate sales price of $75.5 million. The Company recognized promote income of $2.6 million.
[11] During the year ended December 31, 2012, two joint ventures in which the Company has noncontrolling interest recognized aggregate impairment charges of $6.5 million related to the sale of four operating properties. The Company's share of these impairment charges was $0.5 million.
[12] During the year ended December 31, 2012, the Company recognized income of $7.5 million, before taxes of $1.5 million, from the sale of certain air rights at one of the properties in this portfolio.
[13] During the year ended December 31, 2012, the Company acquired a property from a joint venture in which the Company had a noncontrolling interest. The Company evaluated this transaction pursuant to the FASB's Consolidation guidance and as such recognized an aggregate gain of $1.0 million from the fair value adjustment associated with its original ownership due to a change in control.
[14] During the year ended December 31, 2012, two joint ventures in which the Company holds noncontrolling interests sold two properties for an aggregate sales price of $118.0 million. The Company received distributions of $18.5 million and recognized an aggregate gain of $8.3 million.
[15] During the year ended December 31, 2012, three joint ventures in which the Company has noncontrolling interests recognized aggregate impairment charges of $12.8 million related to the sale of one operating properties, the pending sale of one property and the potential foreclosure of another property. The Company's share of these impairment charges was $6.4 million.
[16] During the year ended December 31, 2011, the Company sold its interest in a Canadian hotel portfolio to its partner, for Canadian Dollars ("CAD") $2.5 million (USD $2.4 million). As a result, the Company recorded an impairment charge of USD $5.2 million, before income taxes.
[17] For the year ended December 31, 2010, the Company recognized impairment charges of $7.0 million, against the carrying value of its investments in various unconsolidated joint ventures. These impairment charges resulted from properties, within various unconsolidated joint ventures, being classified as held-for-sale.