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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
REVENUES:        
Minimum rents $ 166,428 $ 167,631 $ 335,509 $ 336,908
Percentage rents 2,412 1,824 6,549 5,430
Other rents 4,421 4,613 9,592 9,895
Tenant reimbursements 70,224 70,774 142,357 142,992
Management, development and leasing fees 2,663 2,813 5,441 5,948
Other 7,695 9,278 15,304 17,003
Total revenues 253,843 256,933 514,752 518,176
OPERATING EXPENSES:        
Property operating 32,866 35,527 71,770 75,538
Depreciation and amortization 71,239 70,609 147,505 139,692
Real estate taxes 22,549 22,089 45,334 43,436
Maintenance and repairs 12,407 12,623 26,623 28,788
General and administrative 16,215 11,336 33,445 26,109
Loss on impairment 2,781 106 2,781 17,256
Other 5,928 7,390 12,404 13,935
Total operating expenses 163,985 159,680 339,862 344,754
Income from operations 89,858 97,253 174,890 173,422
Interest and other income 389 1,544 5,663 3,072
Interest expense (58,754) (59,277) (117,911) (119,783)
Gain on extinguishment of debt 256 0 256 42,660
Gain on investment 0 0 16,560 0
Equity in earnings of unconsolidated affiliates 4,881 3,418 8,704 7,102
Income tax provision (2,472) (786) (1,556) (1,183)
Income from continuing operations before gain on sales of real estate assets 34,158 42,152 86,606 105,290
Gain on sales of real estate assets 14,173 1,925 14,930 3,079
Income from continuing operations 48,331 44,077 101,536 108,369
Operating loss of discontinued operations 0 (59) 0 (558)
Gain on discontinued operations 0 107 0 90
Net income 48,331 44,125 101,536 107,901
Net income attributable to noncontrolling interests in:        
Operating Partnership (4,946) (4,620) (11,118) (12,271)
Other consolidated subsidiaries/Net income attributable to noncontrolling interests (1,490) (1,547) (2,359) (2,378)
Net income attributable to the Company/Operating Partnership 41,895 37,958 88,059 93,252
Preferred dividends/distributions to preferred unitholders (11,223) (11,223) (22,446) (22,446)
Net income attributable to common shareholders/unitholders $ 30,672 $ 26,735 $ 65,613 $ 70,806
Basic per share data attributable to common shareholders:        
Income from continuing operations, net of preferred dividends, basic (in dollars per share) $ 0.18 $ 0.16 $ 0.38 $ 0.42
Discontinued operations, basic (in dollars per share) 0.00 0.00 0.00 0.00
Net income attributable to common shareholders, basic (in dollars per share) $ 0.18 $ 0.16 $ 0.38 $ 0.42
Weighted-average common shares outstanding, basic (in shares) 170,494 170,267 170,457 170,232
Diluted per share data attributable to common shareholders:        
Income from continuing operations, net of preferred dividends, diluted (in dollars per share) $ 0.18 $ 0.16 $ 0.38 $ 0.42
Discontinued operations, diluted (in dollars per share) 0.00 0.00 0.00 0.00
Net income attributable to common shareholders, diluted (in dollars per share) $ 0.18 $ 0.16 $ 0.38 $ 0.42
Weighted-average common and potential dilutive common shares outstanding, diluted (in shares) 170,494 170,267 170,457 170,232
Amounts attributable to common shareholders:        
Income from continuing operations, net of preferred dividends $ 30,672 $ 26,694 $ 65,613 $ 71,205
Discontinued operations 0 41 0 (399)
Net income attributable to common shareholders/unitholders $ 30,672 $ 26,735 $ 65,613 $ 70,806
Dividends declared per common share (in dollars per share) $ 0.265 $ 0.245 $ 0.530 $ 0.490
CBL & Associates Limited Partnership        
REVENUES:        
Minimum rents $ 166,428 $ 167,631 $ 335,509 $ 336,908
Percentage rents 2,412 1,824 6,549 5,430
Other rents 4,421 4,613 9,592 9,895
Tenant reimbursements 70,224 70,774 142,357 142,992
Management, development and leasing fees 2,663 2,813 5,441 5,948
Other 7,695 9,278 15,304 17,003
Total revenues 253,843 256,933 514,752 518,176
OPERATING EXPENSES:        
Property operating 32,866 35,527 71,770 75,538
Depreciation and amortization 71,239 70,609 147,505 139,692
Real estate taxes 22,549 22,089 45,334 43,436
Maintenance and repairs 12,407 12,623 26,623 28,788
General and administrative 16,215 11,336 33,445 26,109
Loss on impairment 2,781 106 2,781 17,256
Other 5,928 7,390 12,404 13,935
Total operating expenses 163,985 159,680 339,862 344,754
Income from operations 89,858 97,253 174,890 173,422
Interest and other income 389 1,544 5,663 3,072
Interest expense (58,754) (59,277) (117,911) (119,783)
Gain on extinguishment of debt 256 0 256 42,660
Gain on investment 0 0 16,560 0
Equity in earnings of unconsolidated affiliates 4,881 3,418 8,704 7,102
Income tax provision (2,472) (786) (1,556) (1,183)
Income from continuing operations before gain on sales of real estate assets 34,158 42,152 86,606 105,290
Gain on sales of real estate assets 14,173 1,925 14,930 3,079
Income from continuing operations 48,331 44,077 101,536 108,369
Operating loss of discontinued operations 0 (59) 0 (558)
Gain on discontinued operations 0 107 0 90
Net income 48,331 44,125 101,536 107,901
Net income attributable to noncontrolling interests in:        
Other consolidated subsidiaries/Net income attributable to noncontrolling interests (1,490) (1,547) (2,359) (2,378)
Net income attributable to the Company/Operating Partnership 46,841 42,578 99,177 105,523
Preferred dividends/distributions to preferred unitholders (11,223) (11,223) (22,446) (22,446)
Net income attributable to common shareholders/unitholders $ 35,618 $ 31,355 $ 76,731 $ 83,077
Basic per share data attributable to common shareholders:        
Income from continuing operations, net of preferred dividends, basic (in dollars per share) $ 0.18 $ 0.16 $ 0.38 $ 0.42
Discontinued operations, basic (in dollars per share) 0.00 0.00 0.00 0.00
Net income attributable to common shareholders, basic (in dollars per share) $ 0.18 $ 0.16 $ 0.38 $ 0.42
Weighted-average common shares outstanding, basic (in shares) 199,751 199,726 199,716 199,734
Diluted per share data attributable to common shareholders:        
Income from continuing operations, net of preferred dividends, diluted (in dollars per share) $ 0.18 $ 0.16 $ 0.38 $ 0.42
Discontinued operations, diluted (in dollars per share) 0.00 0.00 0.00 0.00
Net income attributable to common shareholders, diluted (in dollars per share) $ 0.18 $ 0.16 $ 0.38 $ 0.42
Weighted-average common and potential dilutive common shares outstanding, diluted (in shares) 199,751 199,726 199,716 199,734
Amounts attributable to common shareholders:        
Income from continuing operations, net of preferred dividends $ 35,618 $ 31,314 $ 76,731 $ 83,476
Discontinued operations 0 41 0 (399)
Net income attributable to common shareholders/unitholders $ 35,618 $ 31,355 $ 76,731 $ 83,077
Dividends declared per common share (in dollars per share) $ 0.27279 $ 0.253 $ 0.546 $ 0.506