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Note 5 - Dispositions of Real Estate and Assets Held-for-sale

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

5. D ispositions of Real Estate and Assets Held - for - Sale :

Operating Real Estate

T

he table below summarizes the Company's disposition activity relating to consolidated operating properties and parcels, in separate transactions (dollars in millions):

		Year Ended December 31 ,
		201 7				2016				2015
Aggregate sales price		$	352.2			$	378.7			$	492.5
Gain on sale, net of tax		$	93.5			$	86.8			$	143.6
Impairment charges		$	17.1			$	37.2			$	10.2
Number of operating properties sold			25				30				89
Number of parcels/out-parcels sold			9				2				8

Additionally, during

2015,

the Company disposed of its remaining operating property in Chile for a sales price of

$51.3

million. This transaction resulted in the release of a cumulative foreign currency translation loss of

$19.6

million due to the Company

’s liquidation of its investment in Chile, offset by a gain on sale of

$1.8

million, after income tax expense.

Land

S

ales

During

2016

and

2015,

the Company sold

six

and

13

land parcels, respectively, for an aggregate sales price of

$3.9

million and

$31.5

million, respectively. These transactions resulted in an aggregate gain of

$1.9

million and

$4.3

million, before income taxes expense and noncontrolling interest for the years ended

December 31, 2016

and

2015,

respectively. The gains from these transactions are recorded as other income, which is included in Other (expense)/income, net, in the Company’s Consolidated Statements of Income.

Held-for-Sale

At

December 31,

2017,

the Company had

three

consolidated properties classified as held-for-sale at an aggregate carrying amount of

$22.4

million, net of accumulated depreciation of

$16.8

million, which are included in Other assets on the Company’s Consolidated Balance Sheets. The Company’s determination of the fair value of the properties was based upon executed contracts of sale with

third

parties, which are in excess of the carrying values of the properties.

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- References

No definition available.

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- Definition

The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=2122178

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-URI http://asc.fasb.org/topic&trid=2303972

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