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SEC Filings



10-Q
MACERICH CO filed this Form 10-Q on 05/07/2018
Entire Document
 

THE MACERICH COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share amounts)
(Unaudited)
 
 
For the Three Months Ended March 31,
 
 
2018
 
2017
Revenues:
 
 
 
 
Minimum rents
 
$
142,407

 
$
145,555

Percentage rents
 
1,884

 
1,918

Tenant recoveries
 
68,092

 
72,412

Other
 
13,809

 
15,264

Management Companies
 
10,542

 
11,896

Total revenues
 
236,734

 
247,045

Expenses:
 
 
 
 
Shopping center and operating expenses
 
74,510

 
75,897

Management Companies' operating expenses
 
38,323

 
28,517

REIT general and administrative expenses
 
8,019

 
8,463

Depreciation and amortization
 
79,937

 
83,073

 
 
200,789

 
195,950

Interest expense:
 
 
 
 
Related parties
 
10,169

 
2,211

Other
 
42,466

 
39,090

 
 
52,635

 
41,301

Total expenses
 
253,424

 
237,251

Equity in income of unconsolidated joint ventures
 
16,872

 
15,843

Co-venture expense
 

 
(3,877
)
Income tax benefit
 
2,949

 
3,484

(Loss) gain on sale or write down of assets, net
 
(37,512
)
 
49,565

Net (loss) income
 
(34,381
)
 
74,809

Less net (loss) income attributable to noncontrolling interests
 
(808
)
 
5,566

Net (loss) income attributable to the Company
 
$
(33,573
)
 
$
69,243

Earnings per common share—attributable to common stockholders:
 
 
 
 
Basic
 
$
(0.24
)
 
$
0.48

Diluted
 
$
(0.24
)
 
$
0.48

Weighted average number of common shares outstanding:
 
 
 
 
Basic
 
141,024,000

 
143,596,000

Diluted
 
141,050,000

 
143,655,000

   The accompanying notes are an integral part of these consolidated financial statements.

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