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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES        
Rental revenue $ 111,092 $ 105,479 $ 219,505 $ 206,848
Total revenues 260,880 283,468 460,208 439,952
EXPENSES        
Operating costs 50,518 49,565 101,307 98,571
Rental property real estate taxes 15,365 15,110 30,664 29,315
Provision for (recovery of) doubtful accounts 542 256 386 137
General and administrative 29,366 21,418 50,580 42,402
Depreciation and amortization 44,325 46,571 89,464 90,745
Other 4,273 3,868 9,070 7,686
Total expenses 190,378 194,556 352,916 343,389
OTHER        
Gain (loss) on sale or disposal of real estate and other assets, net 1,656 0 15,385 4,794
Other income (loss), net 885 490 (482) 1,381
Total other 2,541 490 14,903 6,175
Operating income (loss) 73,043 89,402 122,195 102,738
Interest income 4,575 5,999 10,693 13,929
Interest expense (43,694) (39,611) (84,788) (78,795)
Gain (loss) on extinguishment of debt (307) (198) (307) (198)
Gain (loss) on sale of MUD receivables (48,197) 0 (48,197) 0
Equity in earnings (losses) from unconsolidated ventures (1,887) 6,255 (567) (2,600)
Income (loss) from continuing operations before income taxes (16,467) 61,847 (971) 35,074
Income tax expense (benefit) (3,965) 13,755 (258) 7,420
Net income (loss) from continuing operations (12,502) 48,092 (713) 27,654
Net income (loss) from discontinued operations, net of taxes 0 (26,309) 0 (57,776)
Net income (loss) (12,502) 21,783 (713) (30,122)
Net (income) loss attributable to noncontrolling interests (68) 34 (373) 24
Net income (loss) attributable to howard hughes holdings Inc., basic (12,570) 21,817 (1,086) (30,098)
Net income (loss) attributable to howard hughes holdings Inc., diluted (12,570) 21,817 (1,086) (30,098)
Condominium rights and unit sales        
REVENUES        
Revenue from contract with customers 193 0 535 23
EXPENSES        
Cost of sales 811 0 1,053 3,861
Master Planned Communities land sales        
REVENUES        
Revenue from contract with customers 125,041 154,790 196,683 187,205
EXPENSES        
Cost of sales 45,178 57,768 70,392 70,672
Other land, rental, and property revenues        
REVENUES        
Revenue from contract with customers 10,416 10,294 20,060 20,405
Builder price participation        
REVENUES        
Revenue from contract with customers $ 14,138 $ 12,905 $ 23,425 $ 25,471