XML 78 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues:      
Minimum rents $ 578,113 $ 447,321 $ 381,274
Percentage rents 23,156 21,388 16,818
Tenant recoveries 337,772 247,593 215,872
Management Companies 40,192 41,235 40,404
Other 50,242 39,980 30,376
Total revenues 1,029,475 797,517 684,744
Expenses:      
Shopping center and operating expenses 329,795 251,923 213,832
Management Companies' operating expenses 93,461 85,610 86,587
REIT general and administrative expenses 27,772 20,412 21,113
Depreciation and amortization 357,165 277,621 227,980
Total expenses before interest 808,193 635,566 549,512
Interest expense:      
Related parties 15,016 15,386 16,743
Other 182,231 149,006 150,506
Total interest expense 197,247 164,392 167,249
(Gain) loss on extinguishment of debt, net (1,432) 0 1,485
Total expenses 1,004,008 799,958 718,246
Equity in income of unconsolidated joint ventures 167,580 79,281 294,677
Co-venture expense (8,864) (6,523) (5,806)
Income tax benefit 1,692 4,159 6,110
(Loss) gain on remeasurement, sale or write down of assets, net (26,852) 228,690 (22,037)
Income from continuing operations 159,023 303,166 239,442
Discontinued operations:      
Gain (loss) on disposition of assets, net 286,414 50,811 (67,333)
Income (loss) from discontinued operations 3,522 12,412 (3,034)
Total income (loss) from discontinued operations 289,936 63,223 (70,367)
Net income 448,959 366,389 169,075
Less net income attributable to noncontrolling interests 28,869 28,963 12,209
Net income attributable to the Company $ 420,090 $ 337,426 $ 156,866
Earnings per common share attributable to Company—basic: (in dollars per share)      
Income from continuing operations $ 1.07 $ 2.07 $ 1.67
Discontinued operations $ 1.94 $ 0.44 $ (0.49)
Net income attributable to common stockholders $ 3.01 $ 2.51 $ 1.18
Earnings per common share attributable to Company—diluted: (in dollars per share)      
Income from continuing operations $ 1.06 $ 2.07 $ 1.67
Discontinued operations $ 1.94 $ 0.44 $ (0.49)
Net income attributable to common stockholders $ 3.00 $ 2.51 $ 1.18
Weighted average number of common shares outstanding: (in shares)      
Basic 139,598 134,067 131,628
Diluted 139,680 134,148 131,628