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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUE        
Rental income $ 41,152 $ 48,167 $ 114,070 $ 139,526
Total revenue 56,593 64,048 159,640 187,339
EXPENSES        
Property operating 6,348 4,311 20,122 13,985
Real estate taxes 12,199 11,335 32,797 35,707
Depreciation and amortization 49,830 61,059 134,048 170,293
General and administrative 8,338 5,272 24,808 16,639
Provision for doubtful accounts 87 68 257 119
Total expenses 76,802 82,045 212,032 236,743
Operating loss (20,209) (17,997) (52,392) (49,404)
Equity in loss of unconsolidated joint ventures (2,266) (3,686) (7,006) (4,226)
Interest and other income 1,162 352 2,298 472
Interest expense (30,723) (18,049) (65,004) (53,072)
Change in fair value of interest rate cap (16) (91) (23) (686)
Loss before income taxes (52,052) (39,471) (122,127) (106,916)
Provision for income taxes (93)   (437) (266)
Loss before gain on sale of real estate (52,145) (39,471) (122,564) (107,182)
Gain on sale of real estate 17,401 13,018 93,419 13,018
Gain on sale of interests in unconsolidated joint ventures   43,729   43,729
Net (loss) income (34,744) 17,276 (29,145) (50,435)
Net loss (income) attributable to non-controlling interests 12,528 (6,762) 10,486 19,892
Net (loss) income attributable to Seritage (22,216) 10,514 (18,659) (30,543)
Preferred dividends (1,225)   (3,678)  
Net (loss) income attributable to Seritage common shareholders $ (23,441) $ 10,514 $ (22,337) $ (30,543)
Net (loss) income per share attributable to Seritage Class A and Class C common shareholders - Basic $ (0.66) $ 0.31 $ (0.63) $ (0.91)
Net (loss) income per share attributable to Seritage Class A and Class C common shareholders - Diluted $ (0.66) $ 0.31 $ (0.63) $ (0.91)
Weighted average Class A and Class C common shares outstanding - Basic 35,598 33,774 35,535 33,685
Weighted average Class A and Class C common shares outstanding - Diluted 35,598 33,841 35,535 33,685
Tenant Reimbursements [Member]        
REVENUE        
Revenue $ 15,326 $ 15,881 $ 44,541 $ 47,813
Management and Other Fee Income [Member]        
REVENUE        
Revenue $ 115   $ 1,029