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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Rental $ 147,980,000 $ 130,562,000 $ 289,086,000 $ 258,483,000
Tenant recoveries 32,355,000 25,542,000 63,080,000 59,064,000
Service and management fees 11,863,000 10,916,000 21,483,000 23,903,000
Parking and other 14,623,000 12,520,000 26,499,000 24,668,000
Arena 27,040,000 24,572,000 55,860,000 59,929,000
Land sales 15,391,000 18,537,000 24,054,000 35,244,000
Military Housing 10,507,000 6,988,000 16,779,000 17,883,000
Total revenues 259,759,000 229,637,000 496,841,000 479,174,000
Expenses        
Property operating and management 95,707,000 89,637,000 188,725,000 190,728,000
Real estate taxes 21,910,000 19,548,000 42,698,000 39,754,000
Ground rent 3,047,000 2,174,000 5,675,000 4,054,000
Arena operating 17,862,000 14,818,000 37,820,000 38,294,000
Cost of land sales 4,216,000 7,837,000 6,527,000 14,202,000
Military Housing operating 2,126,000 1,734,000 4,351,000 8,258,000
Corporate general and administrative 12,201,000 10,059,000 25,704,000 21,620,000
REIT conversion and reorganization costs 9,771,000 0 15,983,000 0
Total operating expenses 166,840,000 145,807,000 327,483,000 316,910,000
Depreciation and amortization 65,002,000 59,318,000 126,816,000 114,327,000
Write-offs of Abandoned Development Projects and Demolition Costs 5,778,000 933,000 5,778,000 933,000
Impairment of real estate 0 129,829,000 0 129,829,000
Total expenses 237,620,000 335,887,000 460,077,000 561,999,000
Operating income (loss) 22,139,000 (106,250,000) 36,764,000 (82,825,000)
Interest and other income 9,278,000 12,375,000 18,982,000 23,878,000
Net loss on disposition of partial interest in development project 0 (19,590,000) 0 (19,590,000)
Net loss on disposition of partial interest in rental properties 0 0 0 (467,000)
Net gain on change in control of interests 487,684,000 0 487,684,000 2,759,000
Interest expense (47,752,000) (57,153,000) (100,328,000) (119,605,000)
Amortization of mortgage procurement costs (1,862,000) (1,768,000) (3,963,000) (3,893,000)
Loss on extinguishment of debt (3,190,000) (714,000) (38,344,000) (878,000)
Earnings (loss) before income taxes 466,297,000 (173,100,000) 400,795,000 (200,621,000)
Income tax expense (benefit)        
Current 5,268,000 (30,435,000) 3,524,000 5,499,000
Deferred 176,962,000 (16,512,000) 179,521,000 (48,515,000)
Total income tax expense (benefit) 182,230,000 (46,947,000) 183,045,000 (43,016,000)
Earnings (loss) from unconsolidated entities, gross of tax        
Equity in earnings (loss) (275,000) 11,078,000 9,038,000 20,311,000
Net gain on disposition of interest in unconsolidated entities 19,284,000 16,090,000 19,284,000 40,886,000
Total Equity in Earnings on Unconsolidated Entities 19,009,000 27,168,000 28,322,000 61,197,000
Earnings (loss) from continuing operations 303,076,000 (98,985,000) 246,072,000 (96,408,000)
Discontinued operations, net of tax:        
Operating earnings (loss) from rental properties 0 797,000 0 (1,844,000)
Gain on disposition of rental properties 0 343,000 0 14,856,000
Earnings from discontinued operations 0 1,140,000 0 13,012,000
Net earnings (loss) 303,076,000 (97,845,000) 246,072,000 (83,396,000)
Noncontrolling interests        
Loss from continuing operations attributable to noncontrolling interests, gross of tax 680,000 4,853,000 3,475,000 5,974,000
Earnings from discontinued operations attributable to noncontrolling interests 0 0 0 (50,000)
Loss attributable to noncontrolling interests 680,000 4,853,000 3,475,000 5,924,000
Net earnings (loss) attributable to Forest City Enterprises, Inc. $ 303,756,000 $ (92,992,000) $ 249,547,000 $ (77,472,000)
Basic earnings (loss) per common share        
Earnings (loss) from continuing operations attributable to common shareholders $ 1.27 $ (0.47) $ 1.12 $ (0.46)
Earnings from discontinued operations attributable to common shareholders 0 0 0 0.07
Net earnings (loss) attributable to common shareholders 1.27 (0.47) 1.12 (0.39)
Diluted earnings (loss) per common share        
Earnings (loss) from continuing operations attributable to common shareholders 1.18 (0.47) 1.04 (0.46)
Earnings from discontinued operations attributable to common shareholders 0 0 0 0.07
Net earnings (loss) attributable to common shareholders $ 1.18 $ (0.47) $ 1.04 $ (0.39)