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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2018
Equity [Abstract]  
Activity of Preferred and Common Stock
The table below summarizes the share activities of the Company's preferred and common stock.
As a result of the Merger, each outstanding share of Colony's class A and class B common stock was converted into the right to receive 1.4663 shares of the Company's class A and class B common stock, respectively. Accordingly, the Company's common shares outstanding for all periods prior to January 10, 2017 have been adjusted to reflect the Colony exchange ratio of 1.4663.
 
 
Number of Shares
(In thousands)
 
Preferred Stock
 
Class A Common Stock
 
Class B Common Stock
Shares outstanding at December 31, 2015
 
25,030

 
163,777

 
801

Repurchase of preferred stock (1)
 
(964
)
 
—

 
—

Contribution of preferred stock to an affiliate (1)
 
964

 
—

 
—

Shares issued upon redemption of OP units
 
—

 
1,370

 
—

Conversion of class B to class A common stock
 
—

 
31

 
(31
)
Equity-based compensation, net of forfeitures
 
—

 
1,478

 
—

Shares canceled for tax withholding on vested stock awards
 
—

 
(216
)
 
—

Shares outstanding at December 31, 2016
 
25,030

 
166,440

 
770

Consideration for the Merger (2)
 
39,466

 
392,120

 
—

Issuance of preferred stock
 
26,400

 
—

 
—

Redemption of preferred stock
 
(25,432
)
 
—

 
—

Shares canceled (3)
 
—

 
(2,984
)
 
—

Shares issued upon redemption of OP Units
 
—

 
1,684

 
—

Conversion of class B to class A common stock
 
—

 
34

 
(34
)
Repurchase of common stock
 
—

 
(23,371
)
 
—

Exchange of notes for class A common stock
 
—

 
233

 
—

Equity-based compensation, net of forfeitures
 
—

 
8,096

 
—

Redemption of restricted stock units
 
—

 
775

 
—

Shares canceled for tax withholding on vested stock awards
 
—

 
(428
)
 
—

Shares outstanding at December 31, 2017
 
65,464

 
542,599

 
736

Redemption of preferred stock
 
(8,000
)
 
—

 
—

Shares issued upon redemption of OP Units (4)
 
—

 
2,074

 
—

Shares issued for settlement of contingent consideration—Internalization (Note 14)
 
—

 
15

 
40

Conversion of class B to class A common stock
 
—

 
42

 
(42
)
Repurchase of common stock
 
—

 
(61,418
)
 

Equity-based compensation, net of forfeitures
 
—

 
3,394

 
—

Shares canceled for tax withholding on vested stock awards
 
—

 
(3,359
)
 
—

Shares outstanding at December 31, 2018
 
57,464

 
483,347

 
734

__________
(1) 
In January 2016, the Company repurchased 963,718 shares in aggregate of its preferred stock for approximately $20.0 million. In March 2016, the Company contributed the preferred stock at its purchase price to an investment vehicle (the "REIT Securities Venture"), which is a joint venture with a private fund managed by the Company. The Company holds an approximate 4.4% interest in the REIT Securities Venture, accounted for under the equity method. The REIT Securities Venture invests in equity of publicly traded U.S. REITs, including securities of the Company.
(2) 
Shares were legally issued by the Company, as the surviving combined entity, as consideration for the Merger. However, as the Merger was accounted for as a reverse acquisition, the consideration transferred was measured based upon the number of shares of common stock and preferred stock that Colony, as the accounting acquirer, would theoretically have issued to the shareholders of NSAM and NRF to achieve the same ratio of ownership in the Company upon completion of the Merger (Note 3).
(3) 
Represents NRF shares held by NSAM that were canceled upon consummation of the Merger, after giving effect to the exchange ratio.
(4) 
Includes 572,567 shares of class A common stock issued upon redemption of an equivalent number of OP Units that were issued for settlement of the contingent consideration in connection with the Internalization (Note 17).
Preferred Stock
In the event of a liquidation or dissolution of the Company, preferred stockholders have priority over common stockholders for payment of dividends and distribution of net assets.
The table below summarizes the preferred stock issued and outstanding at December 31, 2018:
Description
 
Dividend Rate Per Annum
 
Initial Issuance Date
 
Shares Outstanding
(in thousands)
 
Par Value
(in thousands)
 
Liquidation Preference
(in thousands)
 
Earliest Redemption Date
Series B
 
8.25
%
 
February 2007 (1)
 
6,114

 
$
61

 
$
152,855

 
Currently redeemable
Series E
 
8.75
%
 
May 2014 (1)
 
10,000

 
100

 
250,000

 
May 15, 2019
Series G
 
7.5
%
 
June 2014 (1)
 
3,450

 
35

 
86,250

 
June 19, 2019
Series H
 
7.125
%
 
April 2015 (1)
 
11,500

 
115

 
287,500

 
April 13, 2020
Series I
 
7.15
%
 
June 2017
 
13,800

 
138

 
345,000

 
June 5, 2022
Series J
 
7.125
%
 
September 2017
 
12,600

 
126

 
315,000

 
September 22, 2022
 
 
 
 
 
 
57,464

 
$
575

 
$
1,436,605

 
 

__________
(1) 
Represents initial issuance date pre-Merger by NRF or Colony, as applicable.
Components of Accumulated Other Comprehensive Income (Loss) Attributable to Stockholders
The following tables present the changes in each component of AOCI attributable to stockholders and noncontrolling interests in investment entities, net of immaterial tax effect. AOCI attributable to noncontrolling interests in Operating Company is immaterial.
Changes in Components of AOCI—Stockholders
(In thousands)
 
Company's Share in AOCI of Equity Method Investments
 
Unrealized Gain (Loss) on Securities
 
Unrealized Gain (Loss) on Cash Flow Hedges
 
Foreign Currency Translation Gain (Loss)
 
Unrealized Gain (Loss) on Net Investment Hedges
 
Total
AOCI at December 31, 2015
 
$
—

 
$
—

 
$
(245
)
 
$
(42,125
)
 
$
23,948

 
$
(18,422
)
Other comprehensive income (loss) before reclassifications
 
131

 
(112
)
 
7

 
(34,234
)
 
21,123

 
(13,085
)
Amounts reclassified from AOCI
 
(46
)
 
—

 
197

 
(67
)
 
(686
)
 
(602
)
AOCI at December 31, 2016
 
$
85

 
$
(112
)
 
$
(41
)
 
$
(76,426
)
 
$
44,385

 
$
(32,109
)
Other comprehensive income (loss) before reclassifications
 
5,450

 
(22,014
)
 
41

 
124,846

 
(68,581
)
 
39,742

Amounts reclassified from AOCI
 
81

 
36,544

 
—

 
(2,489
)
 
5,547

 
39,683

AOCI at December 31, 2017
 
$
5,616

 
$
14,418

 
$
—

 
$
45,931

 
$
(18,649
)
 
$
47,316

Cumulative effect of adoption of new accounting pronouncements
 
(202
)
 
—

 
—

 
—

 
—

 
(202
)
Other comprehensive income (loss) before reclassifications
 
(1,785
)
 
(16,238
)
 
(91
)
 
(46,183
)
 
34,113

 
(30,184
)
Amounts reclassified from AOCI
 
—

 
(3,951
)
 
—

 
6,870

 
(8,446
)
 
(5,527
)
Deconsolidation of N-Star CDO
 
—

 
2,596

 
—

 
—

 
—

 
2,596

AOCI at December 31, 2018
 
$
3,629

 
$
(3,175
)
 
$
(91
)
 
$
6,618

 
$
7,018

 
$
13,999


Changes in Components of AOCI—Noncontrolling Interests in Investment Entities
(In thousands)
 
Unrealized Gain (Loss) on Securities
 
Unrealized Gain (Loss) on Cash Flow Hedges
 
Foreign Currency Translation Gain (Loss)
 
Unrealized Gain (Loss) on Net Investment Hedges
 
Total
AOCI at December 31, 2015
 
$
—

 
$
(149
)
 
$
51

 
$
(1
)
 
$
(99
)
Other comprehensive income (loss) before reclassifications
 
(527
)
 
—

 
(56,479
)
 
12,669

 
(44,337
)
Amounts reclassified from AOCI
 
—

 
149

 
(785
)
 
(870
)
 
(1,506
)
AOCI at December 31, 2016
 
$
(527
)
 
$
—

 
$
(57,213
)
 
$
11,798

 
$
(45,942
)
Other comprehensive income (loss) before reclassifications
 
981

 
—

 
97,840

 
(10,659
)
 
88,162

Amounts reclassified from AOCI
 
(454
)
 
—

 
(1,679
)
 
1,988

 
(145
)
AOCI at December 31, 2017
 
$
—

 
—

 
$
38,948

 
$
3,127

 
$
42,075

Other comprehensive income (loss) before reclassifications
 
—

 
(390
)
 
(39,621
)
 
8,696

 
(31,315
)
Amounts reclassified from AOCI
 
—

 
—

 
73

 
(2,179
)
 
(2,106
)
AOCI at December 31, 2018
 
$
—

 
$
(390
)
 
$
(600
)
 
$
9,644

 
$
8,654
Reclassification out of Accumulated Other Comprehensive Income
Information about amounts reclassified out of AOCI attributable to stockholders by component is presented below:
(In thousands)
 
Year Ended December 31,
 
Affected Line Item in the
Consolidated Statements of Operations
Component of AOCI reclassified into earnings
 
2018
 
2017
 
2016
 
Realized gain (loss) on marketable securities
 
$
10,100

 
$
(5,285
)
 
$
46

 
Other gain (loss), net
Other-than-temporary impairment and write-offs of securities
 
(6,149
)
 
(31,259
)
 
—

 
Other gain (loss), net
Deconsolidation of N-Star CDO
 
(2,596
)
 
—

—

—

 
Other gain (loss), net
Unrealized gain on ineffective cash flow hedge
 
—

 
—

 
(197
)
 
Other gain (loss), net
Release of cumulative translation adjustments
 
(6,870
)
 
2,489

 
67

 
Other gain (loss), net
Unrealized gain (loss) on dedesignated net investment hedges
 
1,454

 
(1,829
)
 
634

 
Other gain (loss), net
Realized gain (loss) on net investment hedges
 
6,992

 
(3,718
)
 
52

 
Other gain (loss), net
Release of equity in AOCI of unconsolidated ventures
 
—

 
(81
)
 
—

 
Earnings from investments in unconsolidated ventures