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Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues        
Rental $ 132,536,000 $ 151,855,000 $ 391,019,000 $ 449,583,000
Tenant recoveries 30,082,000 37,890,000 89,146,000 121,881,000
Service and management fees 12,150,000 14,040,000 36,053,000 42,448,000
Parking and other 13,604,000 13,637,000 38,272,000 40,470,000
Arena 25,039,000 25,277,000 84,968,000 76,270,000
Land sales 15,123,000 22,523,000 50,367,000 56,992,000
Military Housing 6,209,000 11,471,000 24,092,000 36,930,000
Total revenues 234,743,000 276,693,000 713,917,000 824,574,000
Expenses        
Property operating and management 92,347,000 107,140,000 283,075,000 332,498,000
Real estate taxes 19,691,000 20,825,000 59,445,000 65,434,000
Ground rent 2,411,000 1,181,000 6,465,000 5,184,000
Arena operating 17,105,000 16,286,000 55,399,000 56,596,000
Cost of land sales 2,879,000 14,186,000 17,081,000 31,718,000
Military Housing operating 1,958,000 7,890,000 10,216,000 22,814,000
Corporate general and administrative 13,763,000 13,994,000 35,383,000 38,531,000
Total operating expenses 150,154,000 181,502,000 467,064,000 552,775,000
Depreciation and amortization 55,511,000 88,232,000 169,838,000 236,488,000
Write-offs of abandoned development projects and demolition costs 456,000 3,459,000 1,389,000 17,012,000
Impairment of real estate 966,000 0 130,795,000 1,175,000
Net (gain) loss on land held for divestiture activity 0 8,925,000 0 (3,383,000)
Total expenses 207,087,000 282,118,000 769,086,000 804,067,000
Operating income (loss) 27,656,000 (5,425,000) (55,169,000) 20,507,000
Interest expense (59,312,000) (82,253,000) (178,917,000) (246,832,000)
Amortization of mortgage procurement costs (2,074,000) (2,300,000) (5,967,000) (7,567,000)
Gain (loss) on extinguishment of debt (49,000) 23,666,000 (927,000) 18,718,000
Interest and other income 10,096,000 14,957,000 33,974,000 37,382,000
Net loss on disposition of partial interest in development project 0 0 (19,590,000) 0
Net gain (loss) on disposition of full or partial interest in rental properties (146,000) 386,559,000 (613,000) 386,559,000
Earnings (loss) before income taxes (23,829,000) 335,204,000 (227,209,000) 208,767,000
Income tax expense (benefit)        
Current 3,493,000 36,865,000 8,992,000 (3,265,000)
Deferred (3,858,000) 108,090,000 (52,373,000) 121,085,000
Total income tax expense (benefit) (365,000) 144,955,000 (43,381,000) 117,820,000
Net gain on change in control of interests 0 0 2,759,000 2,762,000
Earnings from unconsolidated entities, gross of tax        
Equity in earnings 19,346,000 43,924,000 80,543,000 56,680,000
Net gain on land held for divestiture activity 0 79,000 0 2,590,000
Total equity in earnings from unconsolidated entities 19,346,000 44,003,000 80,543,000 59,270,000
Earnings (loss) from continuing operations (4,118,000) 234,252,000 (100,526,000) 152,979,000
Discontinued operations, net of tax:        
Operating earnings (loss) from rental properties 0 (706,000) (1,844,000) 1,674,000
Impairment of real estate 0 (4,206,000) 0 (4,206,000)
Gain on disposition of rental properties 0 10,583,000 14,856,000 25,761,000
Earnings from discontinued operations 0 5,671,000 13,012,000 23,229,000
Net earnings (loss) (4,118,000) 239,923,000 (87,514,000) 176,208,000
Noncontrolling interests        
Loss from continuing operations attributable to noncontrolling interests, gross of tax 4,804,000 2,068,000 10,778,000 17,151,000
Earnings from discontinued operations attributable to noncontrolling interests 0 (135,000) (50,000) (6,034,000)
Loss attributable to noncontrolling interests 4,804,000 1,933,000 10,728,000 11,117,000
Net earnings (loss) attributable to Forest City Enterprises, Inc. 686,000 241,856,000 (76,786,000) 187,325,000
Preferred dividends 0 0 0 185,000
Net earnings (loss) attributable to common shareholders $ 686,000 $ 241,856,000 $ (76,786,000) $ 187,140,000
Basic earnings (loss) per common share        
Earnings (loss) from continuing operations attributable to common shareholders $ 0.00 $ 1.16 $ (0.45) $ 0.86
Earnings from discontinued operations attributable to common shareholders $ 0 $ 0.03 $ 0.06 $ 0.09
Net earnings (loss) attributable to common shareholders $ 0.00 $ 1.19 $ (0.39) $ 0.95
Diluted earnings (loss) per common share        
Earnings (loss) from continuing operations attributable to common shareholders $ 0.00 $ 1.03 $ (0.45) $ 0.80
Earnings from discontinued operations attributable to common shareholders $ 0 $ 0.03 $ 0.06 $ 0.08
Net earnings (loss) attributable to common shareholders $ 0.00 $ 1.06 $ (0.39) $ 0.88