XML 24 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES:        
Minimum rents $ 148,488 $ 157,609 $ 298,849 $ 317,359
Percentage rents 2,138 1,738 4,181 4,127
Other rents 2,496 3,729 4,551 7,381
Total revenues 214,598 229,233 434,798 467,246
OPERATING EXPENSES:        
Property operating 29,527 30,041 62,353 64,955
Depreciation and amortization 73,566 82,509 145,316 153,729
Real estate taxes 20,456 18,687 42,304 40,770
Maintenance and repairs 12,059 11,716 25,238 25,068
General and administrative 13,490 15,752 31,794 31,834
Loss on impairment 51,983 43,203 70,044 46,466
Other 245 5,019 339 5,019
Total operating expenses 201,326 206,927 377,388 367,841
Income from operations 13,272 22,306 57,410 99,405
Interest and other income 218 31 431 1,435
Interest expense (54,203) (55,065) (107,970) (111,266)
Gain on extinguishment of debt 0 20,420 0 24,475
Gain (loss) on investments 387 (5,843) 387 (5,843)
Income tax benefit 2,235 2,920 2,880 3,720
Equity in earnings of unconsolidated affiliates 4,368 6,325 8,107 11,698
Income (loss) from continuing operations before gain on sales of real estate assets (33,723) (8,906) (38,755) 23,624
Gain on sales of real estate assets 3,747 79,533 8,118 85,521
Net income (loss) (29,976) 70,627 (30,637) 109,145
Net (income) loss attributable to noncontrolling interests in:        
Operating Partnership 5,685 (5,093) 7,350 (8,783)
Other consolidated subsidiaries/Net (income) loss attributable to noncontrolling interests 494 (24,138) 393 (24,851)
Net income (loss) attributable to the Company/Operating Partnership (23,797) 41,396 (22,894) 75,511
Preferred dividends/distributions to preferred unitholders (11,223) (11,223) (22,446) (22,446)
Net income (loss) attributable to common shareholders/unitholders $ (35,020) $ 30,173 $ (45,340) $ 53,065
Basic and diluted per share data attributable to common shareholders:        
Net income (loss) attributable to common shareholders/unitholders (USD per share) $ (0.20) $ 0.18 $ (0.26) $ 0.31
Weighted-average common and potential dilutive common shares/units outstanding (shares) 172,662 171,095 172,304 171,042
Dividends declared per common share/unit (USD per share) $ 0.2 $ 0.265 $ 0.4 $ 0.530
CBL & Associates Limited Partnership        
REVENUES:        
Minimum rents $ 148,488 $ 157,609 $ 298,849 $ 317,359
Percentage rents 2,138 1,738 4,181 4,127
Other rents 2,496 3,729 4,551 7,381
Total revenues 214,598 229,233 434,798 467,246
OPERATING EXPENSES:        
Property operating 29,527 30,041 62,353 64,955
Depreciation and amortization 73,566 82,509 145,316 153,729
Real estate taxes 20,456 18,687 42,304 40,770
Maintenance and repairs 12,059 11,716 25,238 25,068
General and administrative 13,490 15,752 31,794 31,834
Loss on impairment 51,983 43,203 70,044 46,466
Other 245 5,019 339 5,019
Total operating expenses 201,326 206,927 377,388 367,841
Income from operations 13,272 22,306 57,410 99,405
Interest and other income 218 31 431 1,435
Interest expense (54,203) (55,065) (107,970) (111,266)
Gain on extinguishment of debt 0 20,420 0 24,475
Gain (loss) on investments 387 (5,843) 387 (5,843)
Income tax benefit 2,235 2,920 2,880 3,720
Equity in earnings of unconsolidated affiliates 4,368 6,325 8,107 11,698
Income (loss) from continuing operations before gain on sales of real estate assets (33,723) (8,906) (38,755) 23,624
Gain on sales of real estate assets 3,747 79,533 8,118 85,521
Net income (loss) (29,976) 70,627 (30,637) 109,145
Net (income) loss attributable to noncontrolling interests in:        
Other consolidated subsidiaries/Net (income) loss attributable to noncontrolling interests 494 (24,138) 393 (24,851)
Net income (loss) attributable to the Company/Operating Partnership (29,482) 46,489 (30,244) 84,294
Preferred dividends/distributions to preferred unitholders (11,223) (11,223) (22,446) (22,446)
Net income (loss) attributable to common shareholders/unitholders $ (40,705) $ 35,266 $ (52,690) $ 61,848
Basic and diluted per share data attributable to common shareholders:        
Net income (loss) attributable to common shareholders/unitholders (USD per share) $ (0.20) $ 0.18 $ (0.26) $ 0.31
Weighted-average common and potential dilutive common shares/units outstanding (shares) 199,767 199,371 199,731 199,326
Dividends declared per common share/unit (USD per share) $ 0.209 $ 0.273 $ 0.418 $ 0.546
Tenant reimbursements        
REVENUES:        
Total revenues $ 56,614 $ 62,231 $ 117,227 $ 129,522
Tenant reimbursements | CBL & Associates Limited Partnership        
REVENUES:        
Total revenues 56,614 62,231 117,227 129,522
Management, development and leasing fees        
REVENUES:        
Total revenues 2,643 2,577 5,364 6,029
Management, development and leasing fees | CBL & Associates Limited Partnership        
REVENUES:        
Total revenues 2,643 2,577 5,364 6,029
Other        
REVENUES:        
Total revenues 2,219 1,349 4,626 2,828
Other | CBL & Associates Limited Partnership        
REVENUES:        
Total revenues $ 2,219 $ 1,349 $ 4,626 $ 2,828