XML 64 R29.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investments in Real Estate Ventures (Tables)
 12 Months Ended
Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]  
Balance Sheet Amounts Consolidated for Variable Interest Entity [Table Text Block]
Summarized financial information for our consolidated VIEs is presented in the following tables.
 
December 31,
($ in millions)
2018
2017
Property and equipment, net
$
48.5

15.7

Investments in real estate ventures
14.0

12.6

Other assets (1)
4.4

44.4

Total assets
$
66.9

72.7

Other current liabilities (1)
$
0.9

30.9

Mortgage indebtedness (included in Other liabilities)
28.2

9.2

Total liabilities
29.1

40.1

Members' equity (included in Noncontrolling interest)
37.8

32.6

Total liabilities and members' equity
$
66.9

72.7


(1) Balances as of December 31, 2017 primarily represented investment properties and their corresponding liabilities, classified as held-for-sale.
Comprehensive Income Amounts Consolidated for Variable Interest Entity [Table Text Block]
 
Year Ended December 31,
($ in millions)
2018
2017
2016
Revenue
$
5.8

5.9

6.6

Operating and other expenses
(5.1
)
(4.2
)
(7.1
)
Gain on sale of investment
2.0

—

13.3

Net income
$
2.7

1.7

12.8
Summary of Combined Financial Information for Unconsolidated Ventures
The following tables summarize the combined financial information for our unconsolidated real estate ventures (including those held via LIC II) accounted for under equity method or at fair value.
 
 
December 31,
($ in millions)
 
2018
2017
Balance Sheets:
 
 
 
 
Investments in real estate, net of depreciation
 
$
13,217.7

17,407.4

 
Total assets
 
15,561.2

19,589.7

 
Mortgage indebtedness
 
4,968.0

6,170.5

 
Other borrowings
 
561.7

926.3

 
Total liabilities
 
6,155.8

8,301.1

 
Total equity
 
9,405.4

11,288.6

 
 
 
 
 
 
 
Year Ended December 31,
($ in millions)
2018
2017
2016
Statements of Operations:
 
 
 
 
Revenue
$
1,199.5

1,319.0

1,266.8

 
Net income
1,046.3

895.7

874.7
Investments in real estate ventures
The table below shows the movement in our investments in real estate ventures reported at fair value.
 
Year Ended December 31,
($ in millions)
2018
2017
2016
Fair value investments as of January 1,
$
242.3

212.7

155.2

Investments
55.2

33.5

105.8

Distributions
(63.8
)
(37.1
)
(62.1
)
Change in fair value
13.9

28.1

16.6

Foreign currency translation adjustments, net
(0.3
)
5.1

(2.8
)
Fair value investments as of December 31,
$
247.3

242.3

212.7