XML 14 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Minimum rents $ 154,018 $ 194,183 $ 457,514 $ 578,075
Percentage rents 3,871 5,992 9,279 11,816
Tenant recoveries 74,447 106,339 230,568 317,629
Other 12,048 14,477 42,985 42,801
Management Companies 8,983 5,271 28,925 17,070
Total revenues 253,367 326,262 769,271 967,391
Expenses:        
Shopping center and operating expenses 76,310 94,950 229,544 290,491
Management Companies' operating expenses 23,285 21,012 75,484 67,719
REIT general and administrative expenses 6,930 6,688 23,240 22,660
Costs related to unsolicited takeover offer 0 209 0 25,204
Depreciation and amortization 86,976 117,486 259,097 357,437
Total expenses before interest 193,501 240,345 587,365 763,511
Interest expense:        
Related parties 2,224 2,690 6,752 8,128
Other 37,759 52,266 114,202 155,010
Total interest expense 39,983 54,956 120,954 163,138
(Gain) loss on extinguishment of debt, net (5,284) 27 (1,709) (609)
Total expenses 228,200 295,328 706,610 926,040
Equity in income of unconsolidated joint ventures 11,261 10,817 37,537 28,185
Co-venture expense (3,006) (2,954) (9,507) (7,897)
Income tax (expense) benefit (905) 859 (2,736) 2,077
(Loss) gain on sale or write down of assets, net (19,321) (3,342) 426,050 (7,078)
Gain on remeasurement of assets 0 0 0 22,089
Net income 13,196 36,314 514,005 78,727
Less net (loss) income attributable to noncontrolling interests (534) 2,717 34,138 6,124
Net income attributable to the Company $ 13,730 $ 33,597 $ 479,867 $ 72,603
Earnings per common share—net income attributable to common stockholders:        
Basic (in dollars per share) $ 0.09 $ 0.21 $ 3.25 $ 0.46
Diluted (in dollars per share) $ 0.09 $ 0.21 $ 3.25 $ 0.45
Weighted average number of common shares outstanding:        
Basic (in shares) 143,923 158,517 147,504 158,452
Diluted (in shares) 144,036 158,634 147,630 158,603