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Redeemable Noncontrolling Interest in Subsidiaries (Tables)

9 Months Ended

Sep. 30, 2021

Noncontrolling Interest [Abstract]

Schedule of Changes in Redeemable Noncontrolling Interest in Subsidiaries

The following table presents the changes in Redeemable Noncontrolling Interest in Subsidiaries:

(in thousands)						Consolidated Investment Companies						HFML and other entities						Total
Balance at December 31, 2020						$	24,246					$	212,741					$	236,987
Net Income (Loss)						(1,091)						953						(138)
Other Comprehensive Income (Loss), net of tax						0						1,430						1,430
Subscriptions—Redeemable Noncontrolling Interest Holders						25,762						0						25,762
Consolidation/(Deconsolidation)						(25,419)						9,182						(16,237)
Stock Award Activity						0						2,481						2,481
Distributions to Noncontrolling Interest in Subsidiaries						(1,320)						(578)						(1,898)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests						0						(2,670)						(2,670)
Balance at March 31, 2021						$	22,178					$	223,539					$	245,717
Net Income (Loss)						682						(3,087)						(2,405)
Other Comprehensive Income (Loss), net of tax						0						868						868
Subscriptions—Redeemable Noncontrolling Interest Holders						899,250						712						899,962
Consolidation/(Deconsolidation)						(894,175)						0						(894,175)
Stock Award Activity						0						2,518						2,518
Distributions to Noncontrolling Interest in Subsidiaries						(622)						(394)						(1,016)
Balance at June 30, 2021						$	27,313					$	224,156					$	251,469
Net Income (Loss)						(108)						2,232						2,124
Other Comprehensive Income (Loss), net of tax						0						(9,953)						(9,953)
Subscriptions—Redeemable Noncontrolling Interest Holders						66,506						397						66,903
Consolidation/(Deconsolidation)						(74,836)						0						(74,836)
Stock Award Activity						0						2,557						2,557
Distributions to Noncontrolling Interest in Subsidiaries						(575)						(603)						(1,178)
Acquisition of Additional Equity of HFML						0						(165,112)						(165,112)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests						0						(16,502)						(16,502)
Balance at September 30, 2021						$	18,300					$	37,172					$	55,472

The activity in 2021 includes $892.1 million of contributions from noncontrolling interests in subsidiaries as a result of a purchase-in-kind investment into a previously consolidated VRE. This was a noncash transaction and was therefore excluded from the Consolidated Statements of Cash Flows.

(in thousands)						Consolidated Investment Companies						HFML and other entities						Total
Balance at December 31, 2019						$	19,872					$	192,214					$	212,086
Net Income (Loss)						(2,802)						1,889						(913)
Other Comprehensive Income (Loss), net of tax						0						(11,454)						(11,454)
Subscriptions—Redeemable Noncontrolling Interest Holders						5,577						0						5,577
Consolidation/(Deconsolidation)						(4,019)						0						(4,019)
Stock Award Activity						0						2,153						2,153
Distributions to Noncontrolling Interest in Subsidiaries						(6,039)						0						(6,039)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests						0						1,870						1,870
Balance at March 31, 2020						$	12,589					$	186,672					$	199,261
Net Income (Loss)						2,560						1,045						3,605
Other Comprehensive Income (Loss), net of tax						0						(435)						(435)
Subscriptions—Redeemable Noncontrolling Interest Holders						6,225						0						6,225
Stock Award Activity						0						2,087						2,087
Distributions to Noncontrolling Interest in Subsidiaries						(4,058)						0						(4,058)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests						0						(2,013)						(2,013)
Balance at June 30, 2020						$	17,316					$	187,356					$	204,672
Net Income (Loss)						1,473						(611)						862
Other Comprehensive Income (Loss), net of tax						0						7,316						7,316
Subscriptions—Redeemable Noncontrolling Interest Holders						3,212						0						3,212
Stock Award Activity						0						2,164						2,164
Distributions to Noncontrolling Interest in Subsidiaries						(358)						0						(358)
Change in Estimated Redemption Value of Redeemable Noncontrolling Interests						0						(3,567)						(3,567)
Balance at September 30, 2020						$	21,643					$	192,658					$	214,301

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- References

No definition available.

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- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (27)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=122040564&loc=d3e177068-122764

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