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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES:        
Minimum rents $ 170,422 $ 169,097 $ 505,931 $ 506,005
Percentage rents 3,869 3,060 10,418 8,490
Other rents 4,156 3,813 13,748 13,708
Tenant reimbursements 72,461 71,330 214,818 214,322
Management, development and leasing fees 2,754 3,228 8,195 9,176
Other 8,974 8,186 24,278 25,189
Total revenues 262,636 258,714 777,388 776,890
OPERATING EXPENSES:        
Property operating 35,859 36,668 107,629 112,206
Depreciation and amortization 74,045 72,488 221,550 212,180
Real estate taxes 23,579 22,202 68,913 65,638
Maintenance and repairs 12,480 12,603 39,103 41,391
General and administrative 12,995 9,474 46,440 35,583
Loss on impairment 884 497 3,665 17,753
Other 8,787 7,396 21,191 21,331
Total operating expenses 168,629 161,328 508,491 506,082
Income from operations 94,007 97,386 268,897 270,808
Interest and other income 579 463 6,242 3,535
Interest expense (56,451) (60,214) (174,362) (179,997)
Gain on extinguishment of debt 0 18,282 256 60,942
Gain on investment 0 0 16,560 0
Equity in earnings of unconsolidated affiliates 3,508 3,936 12,212 11,038
Income tax provision (448) (3,083) (2,004) (4,266)
Income from continuing operations before gain on sales of real estate assets 41,195 56,770 127,801 162,060
Gain on sales of real estate assets 3,237 434 18,167 3,513
Income from continuing operations 44,432 57,204 145,968 165,573
Operating income (loss) of discontinued operations 0 78 0 (480)
Gain on discontinued operations 0 (2) 0 88
Net income 44,432 57,280 145,968 165,181
Net income attributable to noncontrolling interests in:        
Operating Partnership (4,665) (6,576) (15,783) (18,847)
Other consolidated subsidiaries/Net income attributable to noncontrolling interests (2,198) (1,362) (4,557) (3,740)
Net income attributable to the Company/Operating Partnership 37,569 49,342 125,628 142,594
Preferred dividends/distributions to preferred unitholders (11,223) (11,223) (33,669) (33,669)
Net income attributable to common shareholders/unitholders $ 26,346 $ 38,119 $ 91,959 $ 108,925
Basic per share data attributable to common shareholders/unitholders:        
Income from continuing operations, net of preferred dividends, basic (in dollars per share) $ 0.15 $ 0.22 $ 0.54 $ 0.64
Discontinued operations, basic (in dollars per share) 0.00 0.00 0.00 0.00
Net income attributable to common shareholders/unitholders, basic (in dollars per share) $ 0.15 $ 0.22 $ 0.54 $ 0.64
Weighted-average common shares/units outstanding, basic (in shares) 170,494 170,262 170,470 170,242
Diluted per share data attributable to common shareholders/unitholders:        
Income from continuing operations, net of preferred dividends, diluted (in dollars per share) $ 0.15 $ 0.22 $ 0.54 $ 0.64
Discontinued operations, diluted (in dollars per share) 0.00 0.00 0.00 0.00
Net income attributable to common shareholders/unitholders, diluted (in dollars per share) $ 0.15 $ 0.22 $ 0.54 $ 0.64
Weighted-average common and potential dilutive common shares/units outstanding, diluted (in shares) 170,494 170,262 170,500 170,242
Amounts attributable to common shareholders:        
Income from continuing operations, net of preferred dividends $ 26,346 $ 38,054 $ 91,959 $ 109,259
Discontinued operations 0 65 0 (334)
Net income attributable to common shareholders/unitholders $ 26,346 $ 38,119 $ 91,959 $ 108,925
Dividends declared per common share/unit (in dollars per share) $ 0.265 $ 0.245 $ 0.795 $ 0.735
CBL & Associates Limited Partnership        
REVENUES:        
Minimum rents $ 170,422 $ 169,097 $ 505,931 $ 506,005
Percentage rents 3,869 3,060 10,418 8,490
Other rents 4,156 3,813 13,748 13,708
Tenant reimbursements 72,461 71,330 214,818 214,322
Management, development and leasing fees 2,754 3,228 8,195 9,176
Other 8,974 8,186 24,278 25,189
Total revenues 262,636 258,714 777,388 776,890
OPERATING EXPENSES:        
Property operating 35,859 36,668 107,629 112,206
Depreciation and amortization 74,045 72,488 221,550 212,180
Real estate taxes 23,579 22,202 68,913 65,638
Maintenance and repairs 12,480 12,603 39,103 41,391
General and administrative 12,995 9,474 46,440 35,583
Loss on impairment 884 497 3,665 17,753
Other 8,787 7,396 21,191 21,331
Total operating expenses 168,629 161,328 508,491 506,082
Income from operations 94,007 97,386 268,897 270,808
Interest and other income 579 463 6,242 3,535
Interest expense (56,451) (60,214) (174,362) (179,997)
Gain on extinguishment of debt 0 18,282 256 60,942
Gain on investment 0 0 16,560 0
Equity in earnings of unconsolidated affiliates 3,508 3,936 12,212 11,038
Income tax provision (448) (3,083) (2,004) (4,266)
Income from continuing operations before gain on sales of real estate assets 41,195 56,770 127,801 162,060
Gain on sales of real estate assets 3,237 434 18,167 3,513
Income from continuing operations 44,432 57,204 145,968 165,573
Operating income (loss) of discontinued operations 0 78 0 (480)
Gain on discontinued operations 0 (2) 0 88
Net income 44,432 57,280 145,968 165,181
Net income attributable to noncontrolling interests in:        
Other consolidated subsidiaries/Net income attributable to noncontrolling interests (2,198) (1,362) (4,557) (3,740)
Net income attributable to the Company/Operating Partnership 42,234 55,918 141,411 161,441
Preferred dividends/distributions to preferred unitholders (11,223) (11,223) (33,669) (33,669)
Net income attributable to common shareholders/unitholders $ 31,011 $ 44,695 $ 107,742 $ 127,772
Basic per share data attributable to common shareholders/unitholders:        
Income from continuing operations, net of preferred dividends, basic (in dollars per share) $ 0.16 $ 0.22 $ 0.54 $ 0.64
Discontinued operations, basic (in dollars per share) 0.00 0.00 0.00 0.00
Net income attributable to common shareholders/unitholders, basic (in dollars per share) $ 0.16 $ 0.22 $ 0.54 $ 0.64
Weighted-average common shares/units outstanding, basic (in shares) 199,751 199,631 199,728 199,699
Diluted per share data attributable to common shareholders/unitholders:        
Income from continuing operations, net of preferred dividends, diluted (in dollars per share) $ 0.16 $ 0.22 $ 0.54 $ 0.64
Discontinued operations, diluted (in dollars per share) 0.00 0.00 0.00 0.00
Net income attributable to common shareholders/unitholders, diluted (in dollars per share) $ 0.16 $ 0.22 $ 0.54 $ 0.64
Weighted-average common and potential dilutive common shares/units outstanding, diluted (in shares) 199,751 199,631 199,758 199,699
Amounts attributable to common shareholders:        
Income from continuing operations, net of preferred dividends $ 31,011 $ 44,630 $ 107,742 $ 128,106
Discontinued operations 0 65 0 (334)
Net income attributable to common shareholders/unitholders $ 31,011 $ 44,695 $ 107,742 $ 127,772
Dividends declared per common share/unit (in dollars per share) $ 0.273 $ 0.253 $ 0.819 $ 0.759