XML 15 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues:      
Rental and other property revenues (including $839, $708 and $726 for the year ended 2017, 2016 and 2015, respectively, from related parties) $ 126,221 $ 119,663 $ 104,188
Expenses:      
Property operating expenses (including $959, $900 and $770 for the year ended 2017, 2016 and 2015, respectively, from related parties) 64,091 62,950 54,002
Depreciation 25,679 23,785 21,418
General and administrative (including $3,225, $4,053 and $3,855 for the year ended 2017, 2016 and 2015, respectively, from related parties) 7,691 7,119 6,893
Provision on impairment of real estate assets 5,300
Net income fee to related party 250 257 492
Advisory fee to related party 11,082 10,918 9,775
Total operating expenses 108,793 105,029 97,880
Operating income (loss) 17,428 14,634 6,308
Other income (expense):      
Interest income (including $16,298, $18,864 and $15,859 for the year ended 2017, 2016 and 2015, respectively, from related parties) 18,941 20,453 16,674
Other income 4,082 2,091 4,106
Mortgage and loan interest (including $6,695, $5,300 and $3,774 for the year ended 2017, 2016 and 2015, respectively, from related parties) (66,171) (59,362) (52,477)
Loss on the sale of investments (331) (1)
Earnings from unconsolidated subsidiaries and investees 309 493 428
Foreign currency translation loss (4,536)    
Litigation settlement (352)
Total other expenses (47,706) (36,325) (31,622)
Loss before gain on sales, non-controlling interest and taxes (30,278) (21,691) (25,314)
Gain on sale of income-producing properties (including recognition of $14,048, $0 and $0 previously deferred gains in 2017, 2016 and 2015, respectively) 16,698 16,207
Gain on land sales 4,884 3,121 21,648
Loss from continuing operations before tax (8,696) (2,363) (3,666)
Income tax benefit (expense) (180) (46) (517)
Net income (loss) from continuing operations (8,876) (2,409) (4,183)
Discontinued operations:      
Income (loss) from discontinued operations   (2) 644
Gain on sale of real estate from discontinued operations   735
Income tax expense from discontinued operations   1 (483)
Net income (loss) from discontinued operations   (1) 896
Net income (loss) (8,876) (2,410) (3,287)
Net (income) loss attributable to non-controlling interests 445 (322) 1,327
Net income (loss) attributable to American Realty Investors, Inc. (8,431) (2,732) (1,960)
Preferred dividend requirement (1,105) (1,101) (1,216)
Net income (loss) applicable to common shares $ (9,536) $ (3,833) $ (3,176)
Earnings per share - basic      
Loss from continuing operations $ (0.61) $ (0.25) $ (0.27)
Income from discontinued operations     0.06
Net income (loss) applicable to common shares (0.61) (0.25) (0.21)
Earnings per share - diluted      
Loss from continuing operations (0.61) (0.25) (0.27)
Income from discontinued operations     0.06
Net income (loss) applicable to common shares $ (0.61) $ (0.25) $ (0.21)
Weighted average common shares used in computing earnings per share (in shares) 15,514,360 15,514,360 15,111,107
Weighted average common shares used in computing diluted earnings per share (in shares) 15,514,360 15,514,360 15,111,107
Amounts attributable to American Realty Investors, Inc.      
Loss from continuing operations $ (8,431) $ (2,731) $ (2,856)
Income from discontinued operations   (1) 896
Net income (loss) $ (8,431) $ (2,732) $ (1,960)