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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenue:        
Rental income $ 61,538 $ 79,795 $ 127,066 $ 162,152
Total revenue 63,305 81,480 133,217 164,995
Expenses:        
Property operating 9,319 11,468 20,120 22,898
Real estate taxes 8,254 9,929 17,188 20,135
General, administrative, and other 6,578 7,037 13,504 13,814
Depreciation and amortization 31,409 34,713 62,877 69,348
Impairment charges 0 25,107 0 29,184
Total expenses 55,560 88,254 113,689 155,379
Gain on sale of operating properties, net 623 24,092 1,666 30,679
Operating income 8,368 17,318 21,194 40,295
Interest expense (13,271) (16,124) (25,564) (32,582)
Income tax benefit of taxable REIT subsidiary 202 66 306 148
Loss on debt extinguishment 0 (2,577) 0 (2,577)
Equity in loss of unconsolidated subsidiaries (436) (238) (839) (665)
Other income (expense), net 351 (142) 249 (328)
Net (loss) income (4,786) (1,697) (4,654) 4,291
Net loss (income) attributable to noncontrolling interests 17 (99) (188) (372)
Net (loss) income attributable to common shareholders/unitholders $ (4,769) $ (1,796) $ (4,842) $ 3,919
Allocation of net (loss) income:        
Net (loss) income per common share - basic & diluted (in USD per share) $ (0.06) $ (0.02) $ (0.06) $ 0.05
Weighted average common shares outstanding - basic (in shares) 84,157,541 83,938,961 84,090,316 83,891,584
Weighted average common shares outstanding - diluted (in shares) 84,157,541 83,938,961 84,090,316 84,017,762
Dividends declared per common share (in USD per share) $ 0.0000 $ 0.3175 $ 0.3175 $ 0.6350
Change in fair value of derivatives $ (1,622) $ (7,653) $ (18,193) $ (12,710)
Total comprehensive (loss) (6,408) (9,350) (22,847) (8,419)
Comprehensive loss (income) attributable to noncontrolling interests 59 89 258 (57)
Comprehensive loss attributable to Kite Realty Group Trust (6,349) (9,261) (22,589) (8,476)
KRG, LP        
Revenue:        
Rental income 61,538 79,795 127,066 162,152
Total revenue 63,305 81,480 133,217 164,995
Expenses:        
Property operating 9,319 11,468 20,120 22,898
Real estate taxes 8,254 9,929 17,188 20,135
General, administrative, and other 6,578 7,037 13,504 13,814
Depreciation and amortization 31,409 34,713 62,877 69,348
Impairment charges 0 25,107 0 29,184
Total expenses 55,560 88,254 113,689 155,379
Gain on sale of operating properties, net 623 24,092 1,666 30,679
Operating income 8,368 17,318 21,194 40,295
Interest expense (13,271) (16,124) (25,564) (32,582)
Income tax benefit of taxable REIT subsidiary 202 66 306 148
Loss on debt extinguishment 0 (2,577) 0 (2,577)
Equity in loss of unconsolidated subsidiaries (436) (238) (839) (665)
Other income (expense), net 351 (142) 249 (328)
Net (loss) income (4,786) (1,697) (4,654) 4,291
Net loss (income) attributable to noncontrolling interests (132) (132) (266) (264)
Net (loss) income attributable to common shareholders/unitholders (4,918) (1,829) (4,920) 4,027
Allocation of net (loss) income:        
Limited Partners (149) (33) (78) 108
Parent Company $ (4,769) $ (1,796) $ (4,842) $ 3,919
Net income attributable to common unitholders (in dollars per share) $ (0.06) $ (0.02) $ (0.06) $ 0.05
Weighted average common shares outstanding - basic (in shares) 86,392,532 86,051,797 86,296,471 85,982,324
Weighted average common shares outstanding - diluted (in shares) 86,392,532 86,051,797 86,296,471 86,108,502
Dividends declared per common share (in USD per share) $ 0.0000 $ 0.3175 $ 0.3175 $ 0.6350
Change in fair value of derivatives $ (1,622) $ (7,653) $ (18,193) $ (12,710)
Total comprehensive (loss) (6,408) (9,350) (22,847) (8,419)
Comprehensive loss (income) attributable to noncontrolling interests (132) (132) (266) (264)
Comprehensive loss attributable to Kite Realty Group Trust (6,540) (9,482) (23,113) (8,683)
Other property related revenue        
Revenue:        
Total revenue 1,676 1,594 5,956 2,649
Other property related revenue | KRG, LP        
Revenue:        
Total revenue 1,676 1,594 5,956 2,649
Fee income        
Revenue:        
Total revenue 91 91 195 194
Fee income | KRG, LP        
Revenue:        
Total revenue $ 91 $ 91 $ 195 $ 194