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Non-Controlling Interests, Common Shares and Common Shares in Treasury and Preferred Shares | 12 Months Ended
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Dec. 31, 2018
Equity [Abstract] |
Non-Controlling Interests, Common Shares and Common Shares in Treasury and Preferred Shares |
12. | Non-Controlling Interests, Common Shares and Common Shares in Treasury and Preferred Shares
Non-Controlling Interests In 2018, the Company recorded a reduction in non-controlling interest of $2.1 million related to the sale of its interest in a consolidated joint venture in East Gwillimbury, Canada, to its joint venture partner and recorded a loss on sale of $0.2 million. The Company had 140,633 and 184,588 OP Units outstanding at December 31, 2018 and 2017, respectively. These OP Units, issued to different partnerships, are exchangeable at the election of the OP Unit holder and, under certain circumstances at the option of the Company, exchangeable into an equivalent number of the Company’s common shares or for the equivalent amount of cash. Most of these OP Units are subject to registration rights agreements covering shares equivalent to the number of OP Units held by the holder if the Company elects to settle in its common shares. The OP Units are classified on the Company’s consolidated balance sheets as Non-Controlling Interests. Common Shares The Company’s common shares have a $0.10 per share par value. Common share dividends declared were as follows:
|  | For the Year Ended December 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Common share dividends declared per share |  | $ | 1.16 |  |  | $ | 1.52 |  |  | $ | 1.52 |
Stock Repurchase Program In 2018, the Company’s Board of Directors authorized a common share repurchase program. As of December 31, 2018, the Company had repurchased 3.1 million shares at a cost of $36.3 million. These shares are recorded as Treasury Shares on the Company’s consolidated balance sheet. Preferred Shares The depositary shares, representing the Class A Cumulative Redeemable Preferred Shares (“Class A Shares”), Class J Cumulative Redeemable Preferred Shares (“Class J Shares”) and the Class K Cumulative Redeemable Preferred Shares (“Class K Shares”) represent 1/20 of a Class A Share, Class J Share and Class K Share, respectively, and have a liquidation value of $500 per share. The Class J depositary shares and Class K depositary shares are redeemable by the Company. The Class A depositary shares are not redeemable by the Company prior to June 5, 2022, except, in each case, in certain circumstances relating to the preservation of the Company’s status as a REIT. The Company’s authorized preferred shares consist of the following:
| • | 750,000 of each: Class A, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class I, Class J and Class K Cumulative Redeemable Preferred Shares, without par value
| • | 750,000 Non-Cumulative Preferred Shares, without par value
| • | 2,000,000 Cumulative Voting Preferred Shares, without par value

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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