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SEC Filings



10-Q
MACERICH CO filed this Form 10-Q on 08/03/2018
Entire Document
 

THE MACERICH COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share amounts)
(Unaudited)
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Revenues:
 
 
 
 
 
 
 
Minimum rents
$
142,883

 
$
152,893

 
$
285,290

 
$
298,448

Percentage rents
1,515

 
2,060

 
3,399

 
3,978

Tenant recoveries
66,762

 
68,948

 
134,854

 
141,360

Other
12,889

 
13,519

 
26,698

 
28,783

Management Companies
10,496

 
10,003

 
21,038

 
21,899

Total revenues
234,545

 
247,423

 
471,279

 
494,468

Expenses:
 
 
 
 
 
 
 
Shopping center and operating expenses
68,072

 
71,032

 
142,582

 
146,929

Management Companies' operating expenses
20,966

 
26,216

 
59,289

 
54,733

REIT general and administrative expenses
4,956

 
7,458

 
12,975

 
15,921

Costs related to shareholder activism
19,369

 

 
19,369

 

Depreciation and amortization
78,868

 
83,243

 
158,805

 
166,316

 
192,231

 
187,949

 
393,020

 
383,899

Interest (income) expense:
 
 
 
 
 
 
 
Related parties
(2,762
)
 
2,181

 
7,407

 
4,392

Other
41,677

 
40,140

 
84,143

 
79,230

 
38,915

 
42,321

 
91,550

 
83,622

Total expenses
231,146

 
230,270

 
484,570

 
467,521

Equity in income of unconsolidated joint ventures
15,669

 
16,936

 
32,541

 
32,779

Co-venture expense

 
(4,123
)
 

 
(8,000
)
Income tax (expense) benefit
(684
)
 
(437
)
 
2,265

 
3,047

(Loss) gain on sale or write down of assets, net
(9,518
)
 
(477
)
 
(47,030
)
 
49,088

Net income (loss)
8,866

 
29,052

 
(25,515
)
 
103,861

Less net income attributable to noncontrolling interests
1,050

 
2,414

 
242

 
7,980

Net income (loss) attributable to the Company
$
7,816

 
$
26,638

 
$
(25,757
)
 
$
95,881

Earnings per common share—attributable to common stockholders:
 
 
 
 
 
 
 
Basic
$
0.05

 
$
0.19

 
$
(0.19
)
 
$
0.67

Diluted
$
0.05

 
$
0.19

 
$
(0.19
)
 
$
0.67

Weighted average number of common shares outstanding:
 
 
 
 
 
 
 
Basic
141,137,000

 
141,695,000

 
141,081,000

 
142,640,000

Diluted
141,137,000

 
141,728,000

 
141,081,000

 
142,687,000

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

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