Note 16 – Quarterly Financial Information (unaudited)

The following table sets forth the selected quarterly financial data for the Company (in thousands, except per share amounts):

	2017												2016
	First			Second			Third			Fourth			First			Second			Third			Fourth
	Quarter			Quarter			Quarter			Quarter			Quarter			Quarter			Quarter			Quarter
Total revenue	$	65,398		$	57,893		$	64,048		$	53,678		$	63,004		$	61,867		$	57,607		$	66,196
Operating (loss) income		(16,742	)		(14,665	)		(17,997	)		(65,163	)		396			2,765			(22,771	)		(10,837	)
Net (loss) income		(32,844	)		(34,867	)		17,276			(70,378	)		(14,714	)		(12,565	)		(37,247	)		(26,483	)
Net (loss) income attributable to common shareholders		(19,838	)		(21,219	)		10,514			(43,456	)		(8,335	)		(7,117	)		(21,102	)		(15,004	)

Net (loss) income per share attributable to Class A and Class C common shareholders - Basic		(0.59	)		(0.63	)		0.31			(1.27	)		(0.27	)		(0.23	)		(0.67	)		(0.48	)
Net (loss) income per share attributable to Class A and Class C common shareholders - Diluted		(0.59	)		(0.63	)		0.31			(1.27	)		(0.27	)		(0.23	)		(0.67	)		(0.48	)

Weighted average Class A and Class C common shares outstanding - Basic		33,510			33,766			33,841			34,094			31,391			31,391			31,419			31,418
Weighted average Class A and Class C common shares outstanding - Diluted		33,510			33,766			33,841			34,094			31,391			31,391			31,419			31,418

Certain of the above selected quarterly financial data includes significant depreciation and amortization expense related to the demolition of certain buildings for redevelopment and the accelerated amortization of certain lease intangibles as a result of the recapture of space from, or the termination of space by, Sears Holdings. These depreciation and amortization amounts were $26.0 million, $19.4 million, $39.5 million and $63.9 million for the quarters ended March 31, 2017, June 30, 2017, September 30, 2017 and December 31, 2017, respectively, and $11.4 million and $22.8 million for the quarters ended September 30, 2016 and December 31, 2016, respectively.

Certain of the above selected quarterly financial data also includes gains on the on the sale of interests in unconsolidated joint ventures and gains on the sale of real estate. These gains totaled $56.7 million and $15.0 million for the quarters ended September 30, 2017 and December 31, 2017, respectively.