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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUE:        
Minimum rent $ 788,368 $ 740,214 $ 2,309,951 $ 2,190,983
Overage rent 47,433 52,502 123,419 123,336
Tenant reimbursements 373,223 350,595 1,077,702 1,018,316
Management fees and other revenues 38,568 36,396 113,674 101,145
Other income 72,545 54,987 260,736 139,918
Total revenue 1,320,137 1,234,694 3,885,482 3,573,698
EXPENSES:        
Property operating 115,820 106,742 315,418 294,318
Depreciation and amortization 289,360 281,661 873,243 849,369
Real estate taxes 114,145 97,359 327,519 291,058
Repairs and maintenance 21,189 21,416 73,599 72,838
Advertising and promotion 38,756 38,359 98,727 99,128
(Recovery of) provision for credit losses (361) 1,769 6,172 8,635
Home and regional office costs 37,204 40,753 112,454 120,999
General and administrative 14,838 14,388 45,182 44,842
Other 31,599 24,690 74,025 62,457
Total operating expenses 662,550 627,137 1,926,339 1,843,644
OPERATING INCOME 657,587 607,557 1,959,143 1,730,054
Interest expense (229,654) (249,780) (692,801) (758,945)
Loss on extinguishment of debt   (127,573)   (127,573)
Income and other taxes (3,658) (6,589) (13,440) (20,078)
Income from unconsolidated entities 68,221 55,631 203,289 168,473
Gain upon acquisition of controlling interests and sale or disposal of assets and interests in unconsolidated entities, net   17,717 16,339 154,242
Consolidated income from continuing operations 492,496 296,963 1,472,530 1,146,173
Discontinued operations and gain on disposal       67,524
Discontinued operations transaction expenses       (38,163)
CONSOLIDATED NET INCOME 492,496 296,963 1,472,530 1,175,534
Net income attributable to noncontrolling interests 839 750 2,138 1,720
Preferred unit requirements 1,313 1,313 3,939 3,939
NET INCOME ATTRIBUTABLE TO UNITHOLDERS 490,344 294,900 1,466,453 1,169,875
NET INCOME ATTRIBUTABLE TO UNITHOLDERS ATTRIBUTABLE TO:        
General Partner 420,009 251,968 1,255,126 1,000,203
Limited Partners 70,335 42,932 211,327 169,672
Net income attributable to unitholders $ 490,344 $ 294,900 $ 1,466,453 $ 1,169,875
BASIC AND DILUTED EARNINGS PER UNIT        
Income from continuing operations (in dollars per unit) $ 1.36 $ 0.81 $ 4.04 $ 3.14
Discontinued operations (in dollars per unit)       0.08
Net income attributable to unitholders (in dollars per unit) $ 1.36 $ 0.81 $ 4.04 $ 3.22
Consolidated net income $ 492,496 $ 296,963 $ 1,472,530 $ 1,175,534
Unrealized (loss) gain on derivative hedge agreements (6,884) 5,354 12,455 (2,187)
Net loss (gain) reclassified from accumulated other comprehensive loss into earnings 2,819 2,673 (72,090) 7,947
Currency translation adjustments (6,033) (74,029) (144,826) (56,250)
Changes in available-for-sale securities and other 8,004 (8,487) (14,080) (7,806)
Comprehensive income 490,402 222,474 1,253,989 1,117,238
Comprehensive income attributable to noncontrolling interests 839 750 2,138 1,720
Comprehensive income attributable to unitholders $ 489,563 $ 221,724 $ 1,251,851 $ 1,115,518