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CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Rental revenues (Note 11) $ 581,755,000    
Minimum rents (Note 11) $ 353,226,000 $ 345,557,000
Overage rents 19,210,000 16,670,000 16,923,000
Expense recoveries (Note 11) 205,514,000 211,625,000
Management, leasing, and development services 4,846,000 3,271,000 4,383,000
Other (Note 11) 55,243,000 62,189,000 50,677,000
Total Revenues 661,054,000 640,870,000 629,165,000
Expenses:      
Maintenance, taxes, utilities, and promotion 163,538,000 157,957,000 167,091,000
Other operating (Notes 1 and 11) 82,488,000 87,308,000 94,513,000
Management, leasing, and development services 3,582,000 1,470,000 2,157,000
General and administrative 40,566,000 37,174,000 39,018,000
Impairment charge (Note 1) 72,232,000 0 0
Restructuring charges (Note 1) 3,543,000 596,000 13,848,000
Costs associated with shareholder activism (Note 1) 17,305,000 12,500,000 14,500,000
Interest expense 148,407,000 133,197,000 108,572,000
Depreciation and amortization 188,407,000 179,275,000 167,806,000
Total Expenses 720,068,000 609,477,000 607,505,000
Nonoperating income, net (Notes 7 and 15) 27,449,000 14,714,000 23,828,000
Income (loss) before income tax benefit (expense), equity in income of UJVs, gains on partial dispositions of ownership interests in UJVs, net of tax, and gains on remeasurements of ownership interests in UJVs (31,565,000) 46,107,000 45,488,000
Income tax benefit (expense) (Note 3) (6,332,000) 231,000 (105,000)
Equity in income of UJVs (Note 5) 49,166,000 69,404,000 67,374,000
Income before gains on partial dispositions of ownership interests in UJVs, net of tax, and gains on remeasurements of ownership interests in UJVs 11,269,000 115,742,000 112,757,000
Gains on partial dispositions of ownership interests in UJVs, net of tax (Note 2) 154,466,000
Gains on remeasurements of ownership interests in UJVs (Note 2) 164,639,000    
Net income 330,374,000 115,742,000 112,757,000
Net income attributable to noncontrolling interests (Note 9) (100,898,000) (32,256,000) (32,052,000)
Net income attributable to Taubman Centers, Inc. 229,476,000 83,486,000 80,705,000
Distributions to participating securities of TRG (Note 13) (2,413,000) (2,396,000) (2,300,000)
Preferred stock dividends (Note 14) (23,138,000) (23,138,000) (23,138,000)
Net income attributable to Taubman Centers, Inc. common shareholders 203,925,000 57,952,000 55,267,000
Other comprehensive income (loss) (Note 19):      
Unrealized gain (loss) on interest rate instruments and other (14,038,000) (38,000) 57,000
Cumulative translation adjustment (14,171,000) (23,240,000) 33,303,000
Reclassification adjustment for amounts recognized in net income (930,000) (1,809,000) 7,564,000
Other Comprehensive Income (Loss), Net of Tax (29,139,000) (25,087,000) 40,924,000
Comprehensive income 301,235,000 90,655,000 153,681,000
Comprehensive income attributable to noncontrolling interests (95,049,000) (24,994,000) (43,956,000)
Comprehensive income attributable to Taubman Centers, Inc. $ 206,186,000 $ 65,661,000 $ 109,725,000
Basic earnings per common share (Note 16) $ 3.33 $ 0.95 $ 0.91
Diluted earnings per common share (Note 16) $ 3.32 $ 0.95 $ 0.91
Weighted average number of common shares outstanding – basic 61,181,983 60,994,444 60,675,129