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Investments (Tables) | 9 Months Ended
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Sep. 30, 2016
Summary of Amortized Cost, Gross Unrealized Gains and Losses, and Estimated Fair Value of Available-for-Sale Securities | At September 30, 2016 and December 31, 2015, the cost or amortized cost, gross unrealized gains and losses, and estimated fair value of the Company’s available-for-sale securities by security type were as follows:
|  | Cost or Amortized |  |  | Gross Unrealized |  |  | Gross Unrealized |  |  | Estimated Fair |
|  | Cost |  |  | Gain |  |  | Loss |  |  | Value |
As of September 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and U.S. government agencies |  | $ | 430 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 440 |
Corporate bonds |  |  | 77,432 |  |  |  | 1,007 |  |  |  | (1,191 | ) |  |  | 77,248 |
State, municipalities, and political subdivisions |  |  | 77,040 |  |  |  | 2,921 |  |  |  | (194 | ) |  |  | 79,767 |
Exchange-traded debt |  |  | 12,084 |  |  |  | 300 |  |  |  | (68 | ) |  |  | 12,316 |
Redeemable preferred stock |  |  | 237 |  |  |  | 8 |  |  |  | — |  |  |  | 245 |
Total |  |  | 167,223 |  |  |  | 4,246 |  |  |  | (1,453 | ) |  |  | 170,016 |
Equity securities |  |  | 46,323 |  |  |  | 5,487 |  |  |  | (350 | ) |  |  | 51,460 |
Total available-for-sale securities |  | $ | 213,546 |  |  | $ | 9,733 |  |  | $ | (1,803 | ) |  | $ | 221,476 |
As of December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and U.S. government agencies |  | $ | 108 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 113 |
Corporate bonds |  |  | 42,560 |  |  |  | 74 |  |  |  | (4,815 | ) |  |  | 37,819 |
State, municipalities, and political subdivisions |  |  | 75,812 |  |  |  | 1,632 |  |  |  | (120 | ) |  |  | 77,324 |
Exchange-traded debt |  |  | 9,817 |  |  |  | 177 |  |  |  | (565 | ) |  |  | 9,429 |
Redeemable preferred stock |  |  | 317 |  |  |  | 8 |  |  |  | (1 | ) |  |  | 324 |
Total |  |  | 128,614 |  |  |  | 1,896 |  |  |  | (5,501 | ) |  |  | 125,009 |
Equity securities |  |  | 47,548 |  |  |  | 2,139 |  |  |  | (1,450 | ) |  |  | 48,237 |
Total available-for-sale securities |  | $ | 176,162 |  |  | $ | 4,035 |  |  | $ | (6,951 | ) |  | $ | 173,246 |
Scheduled Contractual Maturities of Fixed-Maturity Securities | The scheduled contractual maturities of fixed-maturity securities as of September 30, 2016 and December 31, 2015 are as follows:
|  | Amortized Cost |  |  | Estimated Fair Value |
As of September 30, 2016 |  |  |  |  |  |  |  |
Available-for-sale |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 4,624 |  |  | $ | 4,642 |
Due after one year through five years |  |  | 43,676 |  |  |  | 44,090 |
Due after five years through ten years |  |  | 93,633 |  |  |  | 94,684 |
Due after ten years |  |  | 25,290 |  |  |  | 26,600 |
|  | $ | 167,223 |  |  | $ | 170,016 |
|  | Amortized Cost |  |  | Estimated Fair Value |
As of December 31, 2015 |  |  |  |  |  |  |  |
Available-for-sale |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 3,282 |  |  | $ | 3,292 |
Due after one year through five years |  |  | 32,833 |  |  |  | 32,651 |
Due after five years through ten years |  |  | 71,120 |  |  |  | 67,113 |
Due after ten years |  |  | 21,379 |  |  |  | 21,953 |
|  | $ | 128,614 |  |  | $ | 125,009 |
Summary of Proceeds Received and Gross Realized Gains and Losses from Sales of Available for Sale Securities | Sales of Available-for-Sale Securities Proceeds received, and the gross realized gains and losses from sales of available-for-sale securities, for the three and nine months ended September 30, 2016 and 2015 were as follows:
|  | Proceeds |  |  | Gross Realized Gains |  |  | Gross Realized Losses |
Three months ended September 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity securities |  | $ | 3,891 |  |  | $ | 196 |  |  | $ | — |
Equity securities |  | $ | 5,000 |  |  | $ | 491 |  |  | $ | (104 | )
Three months ended September 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity securities |  | $ | 48,225 |  |  | $ | 31 |  |  | $ | (436 | )
Equity securities |  | $ | 6,117 |  |  | $ | 515 |  |  | $ | (406 | )
Nine months ended September 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity securities |  | $ | 37,415 |  |  | $ | 579 |  |  | $ | — |
Equity securities |  | $ | 14,155 |  |  | $ | 850 |  |  | $ | (530 | )
Nine months ended September 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity securities |  | $ | 51,510 |  |  | $ | 90 |  |  | $ | (466 | )
Equity securities |  | $ | 14,111 |  |  | $ | 844 |  |  | $ | (1,031 | )
Rollforward of Cumulative Credit Losses in Other-Than-Temporary Impairment Losses Recognized in Income from Available for Sale Fixed-Maturity Securities | The following table presents a rollforward of the cumulative credit losses in other-than-temporary impairment losses recognized in income from available for sale fixed-maturity securities:
|  | 2016 |  |  | 2015 |
Balance at January 1 |  | $ | 111 |  |  | $ | — |
Additional credit impairments on previously impaired securities |  |  | 293 |  |  |  | — |
Balance at March 31 |  |  | 404 |  |  |  | — |
Credit impaired security fully disposed of for which there was no prior intent or requirement to sell |  |  | (385 | ) |  |  | — |
Reduction due to increase in expected cash flows recognized over the remaining life of the previously impaired security |  |  | (19 | ) |  |  | — |
Balance at June 30 |  |  | — |  |  |  | — |
Credit impairments on impaired securities |  |  | 180 |  |  |  | 109 |
Balance at September 30 |  | $ | 180 |  |  | $ | 109 |
Summary of Securities with Gross Unrealized Loss Positions Aggregated by Investment Category | Securities with gross unrealized loss positions at September 30, 2016 and December 31, 2015, aggregated by investment category and length of time the individual securities have been in a continuous loss position, are as follows:
|  | Less Than Twelve Months |  |  | Twelve Months or Greater |  |  | Total |
|  | Gross |  |  | Estimated |  |  | Gross |  |  | Estimated |  |  | Gross |  |  | Estimated |
|  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |
As of September 30, 2016 |  | Loss |  |  | Value |  |  | Loss |  |  | Value |  |  | Loss |  |  | Value |
Fixed-maturity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | (356 | ) |  | $ | 22,352 |  |  | $ | (835 | ) |  | $ | 8,363 |  |  | $ | (1,191 | ) |  | $ | 30,715 |
State, municipalities, and political subdivisions |  |  | (136 | ) |  |  | 5,614 |  |  |  | (58 | ) |  |  | 2,527 |  |  |  | (194 | ) |  |  | 8,141 |
Exchange-traded debt |  |  | (21 | ) |  |  | 2,033 |  |  |  | (47 | ) |  |  | 1,953 |  |  |  | (68 | ) |  |  | 3,986 |
Total fixed-maturity securities |  |  | (513 | ) |  |  | 29,999 |  |  |  | (940 | ) |  |  | 12,843 |  |  |  | (1,453 | ) |  |  | 42,842 |
Equity securities |  |  | (196 | ) |  |  | 4,500 |  |  |  | (154 | ) |  |  | 3,573 |  |  |  | (350 | ) |  |  | 8,073 |
Total available-for-sale securities |  | $ | (709 | ) |  | $ | 34,499 |  |  | $ | (1,094 | ) |  | $ | 16,416 |  |  | $ | (1,803 | ) |  | $ | 50,915 |
At September 30, 2016, there were 75 securities in an unrealized loss position. Of these securities, 23 securities had been in an unrealized loss position for 12 months or greater. The gross unrealized loss of corporate bonds in an unrealized loss position for twelve months or more included $351 of other-than-temporary impairment losses related to non-credit factors.
|  | Less Than Twelve Months |  |  | Twelve Months or Greater |  |  | Total |
|  | Gross |  |  | Estimated |  |  | Gross |  |  | Estimated |  |  | Gross |  |  | Estimated |
|  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |
As of December 31, 2015 |  | Loss |  |  | Value |  |  | Loss |  |  | Value |  |  | Loss |  |  | Value |
Fixed-maturity securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | (3,667 | ) |  | $ | 24,196 |  |  | $ | (1,148 | ) |  | $ | 3,278 |  |  | $ | (4,815 | ) |  | $ | 27,474 |
State, municipalities, and political subdivisions |  |  | (107 | ) |  |  | 6,587 |  |  |  | (13 | ) |  |  | 184 |  |  |  | (120 | ) |  |  | 6,771 |
Exchange-traded debt |  |  | (565 | ) |  |  | 5,559 |  |  |  | — |  |  |  | — |  |  |  | (565 | ) |  |  | 5,559 |
Redeemable preferred stock |  |  | (1 | ) |  |  | 129 |  |  |  | — |  |  |  | — |  |  |  | (1 | ) |  |  | 129 |
Total fixed-maturity securities |  |  | (4,340 | ) |  |  | 36,471 |  |  |  | (1,161 | ) |  |  | 3,462 |  |  |  | (5,501 | ) |  |  | 39,933 |
Equity securities |  |  | (1,350 | ) |  |  | 15,748 |  |  |  | (100 | ) |  |  | 1,460 |  |  |  | (1,450 | ) |  |  | 17,208 |
Total available-for-sale securities |  | $ | (5,690 | ) |  | $ | 52,219 |  |  | $ | (1,261 | ) |  | $ | 4,922 |  |  | $ | (6,951 | ) |  | $ | 57,141 |
Schedule of Company's Investments in Limited Partnerships | The following table provides information related to the Company’s investments in limited partnerships.
|  | September 30, 2016 |  |  | December 31, 2015 |
|  | Carrying |  |  | Unfunded |  |  |  |  |  | Carrying |  |  | Unfunded |  |  |  |
Investment Strategy |  | Value |  |  | Balance |  |  | (%)(a) |  |  | Value |  |  | Balance |  |  | (%)(a) |
Primarily in senior secured loans and, to a limited extent, in other debt and equity securities of private U.S. lower-middle-market companies. (b)(c)(e) |  | $ | 6,226 |  |  | $ | 6,428 |  |  |  | 16.50 |  |  | $ | 4,774 |  |  | $ | 7,888 |  |  |  | 16.50 |
Value creation through active distressed debt investing primarily in bank loans, public and private corporate bonds, asset-backed securities, and equity securities received in connection with debt restructuring. (b)(d)(e) |  |  | 6,760 |  |  |  | 1,360 |  |  |  | 1.76 |  |  |  | 4,713 |  |  |  | 3,320 |  |  |  | 1.76 |
Maximum long-term capital appreciation through long and short positions in equity and/or debt securities of publicly traded U.S. and non-U.S. issuers, derivative instruments and certain other financial instruments. (f) |  |  | 11,100 |  |  |  | — |  |  |  | 66.60 |  |  |  | 11,689 |  |  |  | — |  |  |  | 65.79 |
High returns and long-term capital appreciation through investments in the power, utility and energy industries, and in the infrastructure sector. (b)(g)(h) |  |  | 4,140 |  |  |  | 5,766 |  |  |  | 0.18 |  |  |  | 2,754 |  |  |  | 7,016 |  |  |  | 0.18 |
Total |  | $ | 28,226 |  |  | $ | 13,554 |  |  |  |  |  |  | $ | 23,930 |  |  | $ | 18,224 |  |  |  |  |
(a) | Represents the Company’s percentage investment in the fund at each balance sheet date.
(b) | Except under certain circumstances, withdrawals from the funds or any assignments are not permitted. Distributions, except income from late admission of a new limited partner, will be received when underlying investments of the funds are liquidated.
(c) | Expected to have a 10-year term and the capital commitment is expected to expire on September 3, 2019.
(d) | Expected to have a three-year term from the end of the capital commitment period, which is March 31, 2018.
(e) | At the fund manager’s discretion, the term of the fund may be extended for up to two additional one-year periods.
(f) | Withdrawal is permitted upon at least 45 days’ written notice to the general partner.
(g) | Expected to have a 10-year term and the capital commitment is expected to expire on June 30, 2020.
(h) | With the consent of a super majority, the term of the fund may be extended for up to three additional one-year periods.
Summary of Unaudited Financial Information and Unaudited Financial Position | The following tables provide FMKT Mel JV’s summarized unaudited financial results for the three and nine months ended September 30, 2016 and 2015 and its unaudited financial positions at September 30, 2016 and December 31, 2015:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Operating results: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenues and gain |  | $ | 235 |  |  | $ | 17 |  |  | $ | 949 |  |  | $ | 17 |
Total expenses |  |  | (318 | ) |  |  | (11 | ) |  |  | (801 | ) |  |  | (12 | )
Net (loss) income |  | $ | (83 | ) |  | $ | 6 |  |  | $ | 148 |  |  | $ | 5 |
The Company’s share of net (loss) income* |  | $ | (75 | ) |  | $ | 5 |  |  | $ | 153 |  |  | $ | 4 |
* | Included in net investment income in the Company’s consolidated statements of income.
|  | September 30, |  |  | December 31, |
|  | 2016 |  |  | 2015 |
Balance Sheet: |  |  |  |  |  |  |  |
Construction in progress - real estate |  | $ | 333 |  |  | $ | 277 |
Property and equipment, net |  |  | 11,901 |  |  |  | 11,806 |
Cash |  |  | 722 |  |  |  | 570 |
Accounts receivable |  |  | 76 |  |  |  | 3 |
Other |  |  | 963 |  |  |  | 1,008 |
Total assets |  | $ | 13,995 |  |  | $ | 13,664 |
Accounts payable |  | $ | 163 |  |  | $ | 125 |
Construction loan |  |  | 8,153 |  |  |  | 8,063 |
Other liabilities |  |  | 208 |  |  |  | 157 |
Members’ capital |  |  | 5,471 |  |  |  | 5,319 |
Total liabilities and members’ capital |  | $ | 13,995 |  |  | $ | 13,664 |
Investment in unconsolidated joint venture, at equity** |  | $ | 4,940 |  |  | $ | 4,787 |
** | Includes the 90% share of FMKT Mel JV’s operating results and the portion of profit split from the outparcel sale.
Summary of Real Estate Investment | Real estate investments consist of the following as of September 30, 2016 and December 31, 2015.
|  | September 30, |  |  | December 31, |
|  | 2016 |  |  | 2015 |
Land |  | $ | 14,734 |  |  | $ | 13,134 |
Land improvements |  |  | 4,577 |  |  |  | 1,505 |
Buildings |  |  | 10,272 |  |  |  | 3,116 |
Tenant and leasehold improvements |  |  | 581 |  |  |  | — |
Construction in progress* |  |  | 2,965 |  |  |  | 2,906 |
Other |  |  | 2,418 |  |  |  | 1,523 |
Total, at cost |  |  | 35,547 |  |  |  | 22,184 |
Less: accumulated depreciation and amortization |  |  | (1,739 | ) |  |  | (1,430 | )
Real estate, net |  |  | 33,808 |  |  |  | 20,754 |
ADC Arrangement classified as real estate investment |  |  | — |  |  |  | 10,200 |
Real estate investments |  | $ | 33,808 |  |  | $ | 30,954 |
* | The project is being developed by the Company’s consolidated variable interest entity.
Investment (Loss) Income Summarized | Net investment income (loss), by source, is summarized as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity securities |  | $ | 1,170 |  |  | $ | 1,120 |  |  | $ | 3,400 |  |  | $ | 2,994 |
Equity securities |  |  | 811 |  |  |  | 914 |  |  |  | 2,546 |  |  |  | 2,710 |
Investment expense |  |  | (165 | ) |  |  | (199 | ) |  |  | (488 | ) |  |  | (511 | )
Limited partnership investments |  |  | 1,119 |  |  |  | (2,400 | ) |  |  | 54 |  |  |  | (2,862 | )
Real estate investments |  |  | (417 | ) |  |  | (135 | ) |  |  | (500 | ) |  |  | (155 | )
(Loss) income from unconsolidated joint venture |  |  | (75 | ) |  |  | 5 |  |  |  | 153 |  |  |  | 4 |
Cash and cash equivalents |  |  | 285 |  |  |  | 161 |  |  |  | 755 |  |  |  | 461 |
Other |  |  | 12 |  |  |  | 15 |  |  |  | 35 |  |  |  | 44 |
Net investment income (loss) |  | $ | 2,740 |  |  | $ | (519 | ) |  | $ | 5,955 |  |  | $ | 2,685 |
Variable Interest Entity [Member] |
Summary of Unaudited Financial Information and Unaudited Financial Position | The following table summarizes the assets and liabilities related to this variable interest entity which are included in the accompanying consolidated balance sheets.
|  | September 30, |  |  | December 31, |
|  | 2016 |  |  | 2015 |
Cash and cash equivalents |  | $ | 65 |  |  | $ | 57 |
Construction in progress included in real estate investments |  | $ | 2,965 |  |  | $ | 2,906 |
Accrued expenses |  | $ | 56 |  |  | $ | 21 |
Other liabilities |  | $ | 26 |  |  | $ | — |
Limited Partnership [Member] |
Summary of Unaudited Financial Information and Unaudited Financial Position | The following is the aggregated summarized unaudited financial information of limited partnerships included in the investment strategy table above, which in certain cases is presented on a three-month lag due to the unavailability of information at the Company’s respective balance sheet dates. In applying the equity method of accounting, the Company uses the most recently available financial information provided by each general partner. The financial statements of these limited partnerships are audited annually.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Operating results: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total income (loss) |  | $ | 166,374 |  |  | $ | 82 |  |  | $ | 143,305 |  |  | $ | (4,756 | )
Total expenses |  |  | (54,577 | ) |  |  | (386 | ) |  |  | (184,598 | ) |  |  | (1,343 | )
Net income (loss) |  | $ | 111,797 |  |  | $ | (304 | ) |  | $ | (41,293 | ) |  | $ | (6,099 | )
|  | September 30, 2016 |  |  | December 31, 2015 |
Balance Sheet: |  |  |  |  |  |  |  |
Total assets |  | $ | 2,902,014 |  |  | $ | 288,351 |
Total liabilities |  | $ | 581,615 |  |  | $ | 28,105 |

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- Definition Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27340-111563 + Details
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- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. + References No definition available. + Details
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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=64801991&loc=d3e5747-111685 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=64801991&loc=SL6228884-111685 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=64801991&loc=d3e5728-111685 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Variable Interest Entity -URI http://asc.fasb.org/extlink&oid=6528138 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64801991&loc=SL6759159-111685 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64801991&loc=d3e5710-111685 + Details
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