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Note 22 - Accumulated Other Comprehensive Income | 12 Months Ended
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Dec. 31, 2015
Accumulated Other Comprehensive Income Loss Disclosure [Abstract] |
Accumulated Other Comprehensive Income Loss Disclosure [Text Block] |
22. | Accumulated Other Comprehensive Income
The following table displays the change in the components of AOCI for the year ended December 31, 2015 and 2014:
|  | Foreign Currency Translation Adjustments |  |  | Unrealized Gains on Available-for- Sale Investments |  |  | Unrealized Gain/(Loss) on Interest Rate Swaps |  |  | Total |
Balance as of January 1, 2015 |  | $ | 329 |  |  | $ | 46,197 |  |  | $ | (1,404 | ) |  | $ | 45,122 |
Other comprehensive income before reclassifications |  |  | (12,493 | ) |  |  | (5,946 | ) |  |  | (22 | ) |  |  | (18,461 | )
Amounts reclassified from AOCI |  |  | 18,780 | (1) |  |  | (39,853 | ) (2) |  |  | - |  |  |  | (21,073 | )
Net current-period other comprehensive income |  |  | 6,287 |  |  |  | (45,799 | ) |  |  | (22 | ) |  |  | (39,534 | )
Balance as of December 31, 2015 |  | $ | 6,616 |  |  | $ | 398 |  |  | $ | (1,426 | ) |  | $ | 5,588 |
(1) | During 2015, the Company recognized a cumulative foreign currency translation loss as a result of the liquidation of the Company’s investment in Chile. Amounts were reclassified on the Company’s Consolidated Statements of Income as follows (i) $19.6 million of loss was reclassified to Gain on sale of operating properties, net of tax, offset by (ii) $0.8 million of gain was reclassified to Equity in income of joint ventures, net.
(2) | Amounts reclassified to Interest, dividends and other investment income on the Company’s Consolidated Statements of Income.
|  | Foreign Currency Translation Adjustments |  |  | Unrealized Gains on Available-for- Sale Investments |  |  | Unrealized Gain/(Loss) on Interest Rate Swaps |  |  | Total |
Balance as of January 1, 2014 |  | $ | (90,977 | ) |  | $ | 25,995 |  |  | $ | - |  |  | $ | (64,982 | )
Other comprehensive income before reclassifications |  |  | (43,045 | ) |  |  | 20,202 |  |  |  | (1,404 | ) |  |  | (24,247 | )
Amounts reclassified from AOCI |  |  | 134,351 | (1) |  |  | - |  |  |  | - |  |  |  | 134,351 |
Net current-period other comprehensive income |  |  | 91,306 |  |  |  | 20,202 |  |  |  | (1,404 | ) |  |  | 110,104 |
Balance as of December 31, 2014 |  | $ | 329 |  |  | $ | 46,197 |  |  | $ | (1,404 | ) |  | $ | 45,122 |
| (1) | During 2014, the Company recognized a cumulative foreign currency translation loss as a result of the substantial liquidation of the Company’s investment in Mexico and Peru. Amounts were reclassified on the Company’s Consolidated Statements of Income as follows (i) $92.9 million of loss was reclassified to Impairment/loss on operating properties sold, net of tax, within Discontinued operations (ii) $47.3 million of loss was reclassified to Equity in income of joint ventures, net and (iii) $5.8 million of a loss was reclassified to Net income attributable to noncontrolling interest.
At December 31, 2015, the Company had a net $6.6 million, of unrealized cumulative foreign currency translation adjustment (“CTA”) gains relating to its foreign entity investments in Canada. CTA results from currency fluctuations between local currency and the U.S. dollar during the period in which the Company held its investment. CTA amounts are subject to future changes resulting from ongoing fluctuations in the respective foreign currency exchange rates. Under U.S. GAAP, the Company is required to release CTA balances into earnings when the Company has substantially liquidated its investment in a foreign entity. During 2015, the Company began selling properties within its Canadian portfolio and as such, the Company may, in the near term, substantially liquidate its remaining investment in Canada, which will require the then unrealized gain on foreign currency translation to be recognized as a benefit to earnings.

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