Full Year 2012
BFC reported net income attributable to BFC of $166.0 million, or $2.09 per diluted share, for the year ended December 31, 2012, compared to a net loss attributable to BFC of $(11.3) million, or $(0.16) per diluted share, for the year ended December 31, 2011. Net income attributable to BFC for the year ended December 31, 2012 includes a $293.5 million gain recognized by BFC in connection with the sale of BankAtlantic by BBX Capital Corporation (NYSE: BBX) ("BBX Capital") during July 2012.
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Fourth Quarter 2012
BFC reported a net loss attributable to BFC of $(15.1) million, or $(0.19) per diluted share, for the quarter ended December 31, 2012, versus net income attributable to BFC of $0.1 million for the quarter ended December 31, 2011.
BFC’s shareholders’ equity at December 31, 2012 was approximately $299.0 million.
Net income (loss) attributable to BFC is defined as net income (loss) after non-controlling interests.
Under generally accepted accounting principles, the financial statements of the companies in which BFC holds a controlling interest, including BBX Capital and Bluegreen Corporation (NYSE: BXG) ("Bluegreen"), are consolidated in BFC’s financial statements. At December 31, 2012, BFC had an approximate 53% economic ownership interest in BBX Capital and an approximate 54% economic ownership interest in Bluegreen.
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