XML 56 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Revenues:    
Minimum rents $ 403,415 $ 377,684
Tenant recoveries 187,711 174,874
Overage rents 11,479 13,086
Management fees and other corporate revenues 15,931 16,171
Other 19,267 14,798
Total revenues 637,803 596,613
Expenses:    
Real estate taxes 69,272 55,699
Property maintenance costs 23,830 20,531
Marketing 6,519 6,738
Other property operating costs 89,303 86,719
Provision for doubtful accounts 1,797 2,171
Property management and other costs 40,355 41,540
General and administrative 10,933 10,510
Depreciation and amortization 195,433 206,789
Total expenses 437,442 430,697
Operating income 200,361 165,916
Interest income 721 661
Interest expense (195,383) (210,760)
Warrant liability adjustment (40,546) (143,112)
Loss on extinguishment of debt (9,319)  
Loss before income taxes, equity in income of Unconsolidated Real Estate Affiliates, discontinued operations and allocation to noncontrolling interests (44,166) (187,295)
Provision for income taxes (141) (1,396)
Equity in income of Unconsolidated Real Estate Affiliates 13,194 5,952
Equity in income of Unconsolidated Real Estate Affiliates - gain on investment 3,448  
Loss from continuing operations (27,665) (182,739)
Discontinued operations:    
Loss from discontinued operations, including gains (losses) on dispositions (6,967) (11,509)
Gain on extinguishment of debt 25,894  
Discontinued operations, net 18,927 (11,509)
Net loss (8,738) (194,248)
Allocation to noncontrolling interests (2,788) (3,367)
Net loss attributable to General Growth Properties, Inc. (11,526) (197,615)
Preferred stock dividends (2,125)  
Net loss attributable to common stockholders (13,651) (197,615)
Basic and Diluted Loss Per Share:    
Continuing operations (in dollars per share) $ (0.03) $ (0.20)
Discontinued operations (in dollars per share) $ 0.02 $ (0.01)
Total basic loss per share (in dollars per share) $ (0.01) $ (0.21)
Dividends declared per share (in dollars per share) $ 0.12 $ 0.10
Comprehensive Loss, Net:    
Net loss (8,738) (194,248)
Other comprehensive income:    
Foreign currency translation 9,648 13,559
Unrealized gains on available-for-sale securities 248 51
Other comprehensive income 9,896 13,610
Comprehensive income (loss) 1,158 (180,638)
Comprehensive income allocated to noncontrolling interests (2,841) (3,463)
Comprehensive loss attributable to General Growth Properties, Inc. (1,683) (184,101)
Preferred stock dividends (2,125)  
Comprehensive loss, net, attributable to common stockholders $ (3,808) $ (184,101)