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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUES        
Rental revenue $ 108,613 $ 99,978 $ 315,461 $ 290,164
Total revenues 327,147 228,473 767,099 595,789
EXPENSES        
Operating costs 50,841 51,856 149,412 147,926
Rental property real estate taxes 14,484 14,763 43,799 44,758
Provision for (recovery of) doubtful accounts 190 1,399 327 (1,034)
General and administrative 23,826 21,410 66,228 65,180
Depreciation and amortization 44,088 42,686 134,833 122,217
Other 3,582 2,195 11,268 8,834
Total expenses 221,426 185,110 564,815 510,405
OTHER        
Gain (loss) on sale or disposal of real estate and other assets, net 3,165 16,286 7,959 21,000
Other income (loss), net 90,489 (82) 91,870 4,914
Total other 93,654 16,204 99,829 25,914
Operating income (loss) 199,375 59,567 302,113 111,298
Interest income 5,341 7,682 19,270 16,766
Interest expense (43,802) (39,316) (122,597) (112,783)
Gain (loss) on extinguishment of debt 0 0 (198) 0
Loss on sale of MUD receivables (51,525) 0 (51,525) 0
Equity in earnings (losses) from unconsolidated ventures (1,630) 15,732 (4,230) 26,461
Income (loss) from continuing operations before income taxes 107,759 43,665 142,833 41,742
Income tax expense (benefit) 10,418 11,453 17,838 11,018
Net income (loss) from continuing operations 97,341 32,212 124,995 30,724
Net income (loss) from discontinued operations, net of taxes (24,031) (576,199) (81,807) (616,479)
Net income (loss) 73,310 (543,987) 43,188 (585,755)
Net (income) loss attributable to noncontrolling interests 273 (46) 297 (166)
Net income (loss) attributable to howard hughes holdings Inc., basic 73,583 (544,033) 43,485 (585,921)
Net income (loss) attributable to howard hughes holdings Inc., diluted 73,583 (544,033) 43,485 (585,921)
Condominium rights and unit sales        
REVENUES        
Revenue from contract with customers 3 25,962 26 46,915
EXPENSES        
Cost of sales 11,833 22,537 15,694 56,390
Master Planned Communities land sales        
REVENUES        
Revenue from contract with customers 198,239 75,378 385,444 177,045
EXPENSES        
Cost of sales 72,582 28,264 143,254 66,134
Other land, rental, and property revenues        
REVENUES        
Revenue from contract with customers 10,700 11,308 31,105 35,902
Builder price participation        
REVENUES        
Revenue from contract with customers $ 9,592 $ 15,847 $ 35,063 $ 45,763