XML 21 R4.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues from operations:      
Rental income $ 269,286 $ 444,062 $ 464,252
Fee and other income 8,181 8,553 14,966
Total revenue from operations 277,467 452,615 479,218
Rental operation expenses:      
Operating and maintenance 55,372 78,306 81,893
Real estate taxes 40,292 65,501 72,716
Impairment charges 66,600 0 2,536
General and administrative 47,080 50,867 46,564
Depreciation and amortization 101,344 180,611 177,012
Total rental operation expenses 310,688 375,285 380,721
Other income (expense):      
Interest expense (59,463) (80,482) (76,074)
Interest income 31,620 4,348 0
Debt extinguishment costs (42,822) (50) (581)
Gain on debt retirement 1,037 0 0
(Loss) gain on derivative instruments (4,412) 2,103 0
Transaction costs and other expense (2,184) (836) (1,949)
Total other income (expense) (76,224) (74,917) (78,604)
(Loss) income before earnings from discontinued operations, equity method investments and other items (109,445) 2,413 19,893
Equity in net income of joint ventures 82 6,577 27,892
Gain on sale and change in control of interests, net 2,669 3,749 45,581
Gain on disposition of real estate, net 633,219 218,655 46,644
Income before tax expense 526,525 231,394 140,010
Tax expense of taxable REIT subsidiaries and state franchise and income taxes (761) (2,045) (816)
Income from continuing operations 525,764 229,349 139,194
Income from discontinued operations 6,060 36,372 29,598
Net income 531,824 265,721 168,792
Income attributable to non-controlling interests, net 0 (18) (73)
Net income attributable to SITE Centers 531,824 265,703 168,719
Write-off of preferred share original issuance costs (6,155) 0 0
Preferred dividends (9,638) (11,156) (11,156)
Net income attributable to common shareholders $ 516,031 $ 254,547 $ 157,563
Basic      
Income from continuing operations, Basic $ 9.69 $ 4.16 $ 2.4
Income from discontinued operations, Basic 0.12 0.69 0.55
Total, Basic 9.81 4.85 2.95
Diluted:      
Income from continuing operations, Diluted 9.65 4.16 2.39
Income from discontinued operations, Diluted 0.12 0.69 0.55
Total, Diluted $ 9.77 $ 4.85 $ 2.94