Brookfield Property REIT Inc. BPR Income Statement

Brookfield property reit inc. (BPR)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10
Revenues:
Lease Income
351,829	-	317,469	314,239	323,020	-	447,767	539,394	531,769	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Rental revenues, net
-	-	-	-	-	-	-	-	-	1,071,445	363,857	349,205	349,013	367,484	347,676	363,412	371,132	387,230	358,716	361,556	374,112	413,147	396,285	385,011	389,252	390,010	382,718	385,512	395,701	362,364	394,736	382,336	377,684	337,568	383,541	390,402	396,913	225,411
Tenant recoveries
-	-	-	-	-	-	-	-	-	-	160,755	161,926	163,055	163,839	162,031	169,763	172,448	171,496	172,515	168,043	177,482	186,815	186,066	185,064	181,466	181,662	176,756	173,782	184,732	162,068	180,590	176,194	174,874	145,887	189,942	176,607	182,209	97,444
Overage rents
-	-	-	-	-	-	-	-	-	-	4,582	3,280	5,937	23,509	6,505	4,375	8,145	25,269	6,455	3,485	8,815	27,125	9,277	5,388	9,821	28,611	9,666	6,372	11,349	34,969	13,420	8,099	13,086	30,710	12,823	5,997	10,491	17,609
Management fees and other corporate revenues
35,338	43,061	44,206	38,050	41,188	43,497	30,483	26,030	25,766	27,348	28,806	20,847	28,143	22,728	20,428	18,917	33,741	21,282	19,496	26,731	19,086	19,128	17,355	17,717	16,687	18,218	17,336	17,307	15,931	16,303	17,823	21,652	16,171	17,388	14,188	14,235	15,352	8,883
Other
16,463	25,411	13,450	8,743	12,175	21,028	14,899	17,720	16,631	28,119	20,357	20,538	20,184	32,775	17,853	18,119	21,566	39,181	28,142	20,166	14,648	26,806	18,775	18,715	25,659	35,142	19,636	16,570	19,006	24,769	16,191	18,174	14,798	25,154	16,488	15,616	15,449	14,600
Total revenues
403,630	451,428	375,125	361,032	376,383	413,575	493,149	583,144	574,166	627,377	578,357	555,796	566,332	610,335	554,493	574,586	607,032	644,458	585,324	579,981	594,143	673,021	627,758	611,895	622,885	653,643	606,112	599,543	626,719	600,473	622,760	606,455	596,613	556,707	616,982	602,857	620,414	363,947
Operating Expenses:
Real estate taxes
47,807	44,117	43,726	42,374	40,855	43,757	55,081	62,604	59,733	59,146	61,516	59,042	57,494	55,984	58,239	57,309	58,103	52,458	57,942	56,496	55,987	55,304	57,430	58,342	56,916	61,680	58,176	52,372	67,579	44,513	57,870	56,995	55,699	39,954	56,530	60,541	58,813	31,552
Property maintenance costs
9,146	9,339	6,297	6,335	10,061	7,567	8,381	10,976	14,713	13,804	10,281	10,724	14,975	14,013	11,576	11,955	17,483	15,549	11,707	12,903	19,881	17,944	13,394	14,135	21,424	17,484	13,955	14,952	23,020	18,384	16,673	18,692	20,531	14,223	21,419	22,357	28,462	17,228
Marketing
764	3,155	965	921	904	2,825	1,801	1,744	1,417	5,858	1,744	1,296	2,145	6,119	2,244	2,738	2,054	9,110	4,273	3,754	4,821	9,266	4,624	4,960	5,804	9,553	5,794	5,764	6,516	11,235	7,861	7,234	6,738	12,873	7,639	6,059	6,286	10,622
Other property operating costs
49,821	49,509	45,271	41,076	43,422	43,379	66,327	71,752	71,752	71,427	75,848	69,590	69,303	67,117	73,479	71,601	70,394	74,922	79,265	72,427	76,183	81,436	84,581	81,937	85,666	77,698	93,190	84,469	86,063	72,955	99,165	92,808	86,719	70,526	107,631	94,616	92,631	55,947
Provision for doubtful accounts
-	-	0	0	-	2,922	3,517	2,234	3,429	1,932	2,152	3,166	3,451	2,353	574	1,710	3,401	1,882	1,622	1,306	3,271	2,845	355	2,713	2,142	509	1,017	629	1,765	1,044	1,173	-709	2,171	2,552	1,078	1,319	-85	-47
Provision for loan loss
-	-	-	-	-	-	-	-	-	-	-	-	-	205	-6,659	0	36,069	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property Management and Other Costs
60,975	54,807	59,042	59,247	56,054	52,622	43,763	36,595	39,574	29,917	35,195	39,025	41,114	31,815	37,760	38,282	30,745	39,709	38,685	40,369	42,793	35,702	34,428	40,013	44,950	41,114	41,446	41,558	40,339	40,318	38,776	38,698	41,540	49,086	45,455	44,638	47,700	29,337
General and administrative
4,890	6,790	4,929	5,320	5,413	6,206	15,947	12,041	12,247	13,551	12,037	15,862	14,683	14,431	13,237	14,650	13,427	13,010	12,627	12,322	12,446	11,442	12,778	28,232	11,599	14,658	10,522	13,124	10,933	7,494	10,045	11,046	10,510	12,650	15,441	2,219	501	22,241
Business Combination, Acquisition Related Costs
0	-	-	-	8,339	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Costs related to the BPY Transaction
-	-	0	840	-	-1,636	204,159	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for impairment
-	-	38,794	184,300	-	0	7,487	0	38,379	0	0	0	0	0	28,276	4,058	40,705	8,604	0	0	0	-	-	-	-	-	-	-	-	-	32,100	-	-	-	-	-	-	-
Depreciation and amortization
157,346	144,206	120,249	118,382	118,799	117,627	156,401	173,642	185,393	187,453	161,278	174,298	170,298	161,477	182,350	156,248	160,671	160,664	154,228	152,849	175,948	179,478	182,237	175,213	171,478	181,010	188,079	188,038	192,595	169,852	203,986	188,193	206,789	173,051	226,360	227,340	227,793	121,782
Total operating expenses
330,749	311,924	319,273	458,842	283,847	275,269	562,864	371,588	426,637	383,088	360,051	373,003	373,463	353,514	401,076	358,551	433,052	375,908	360,349	352,426	391,330	398,695	389,827	405,545	399,979	403,706	412,179	400,906	428,810	333,695	467,649	412,957	430,697	375,831	481,553	459,089	462,101	288,662
Operating income (loss)
-	-	-	-	-	-	-	-	-	-	218,306	182,793	192,869	-	153,417	216,035	173,980	268,550	224,975	227,555	202,813	274,326	237,931	206,350	222,906	249,937	193,933	198,637	197,909	266,778	155,111	193,498	165,916	180,876	135,429	143,768	158,313	75,285
Interest and dividend income
3,096	2,341	12,138	2,891	8,422	7,804	7,240	9,518	9,148	10,230	15,948	17,452	17,936	16,453	14,114	13,335	16,058	14,358	13,232	12,843	8,821	8,812	8,536	4,856	6,409	6,423	388	298	590	73	765	875	661	38	680	553	679	718
Interest expense
178,802	184,154	180,755	158,845	154,706	153,581	144,632	140,562	137,925	139,433	135,980	134,209	132,323	133,861	141,296	148,366	147,677	147,386	144,891	142,747	172,651	171,012	174,109	175,118	179,046	171,491	172,930	186,902	191,829	186,967	200,183	183,311	210,760	188,415	218,932	236,476	219,621	126,647
Loss on foreign currency
-	-	-	-	-	-	-	-	-	-4,014	3,889	-3,877	3,183	-2,085	-657	7,893	8,936	1,555	-25,092	1,463	-22,910	-11,030	-15,972	3,772	5,182	-	0	0	-	-	-	-	-	-	-	-	-	-
Warrant liability adjustment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	40,546	89,153	123,381	146,588	143,112	264,418	-337,781	94,769	-76,448	205,252
Gains from changes in control of investment properties and other, net
-	-	39,712	0	-	234,515	2,850,017	0	12,664	-268	95,165	-15,841	0	-10,513	620,309	38,553	74,555	11,955	13,399	17,768	591,245	91,193	0	0	0	-	0	219,784	-	-	-	18,547	-	-	-	-	-	-
(Loss) gain on extinguishment of debt
-	-	-27,542	-	-	-	0	-	-	-	0	55,112	-	-	0	0	-	-	-	-	-	-	-	-	-	-1	0	-27,159	-9,319	-	-	-	-	-	-	-	-	-
Loss before income taxes, equity in loss of Unconsolidated Real Estate Affiliates and related gain on investment, and allocation to noncontrolling interests
-102,825	638,685	-100,595	-253,764	-53,748	241,027	2,642,910	80,512	31,416	110,804	197,328	101,430	81,665	126,815	645,887	127,450	125,852	149,032	81,623	116,882	607,318	192,289	56,386	39,860	55,451	77,556	21,391	204,658	-43,195	-24,274	-167,688	-116,979	-187,295	-271,919	254,958	-186,924	15,819	-255,896
Provision for income taxes
5,428	15,751	-14,021	3,503	4,450	-23,168	-570,716	-22	-280	-26,243	6,993	3,844	4,510	174	49	-2,242	2,920	-9,253	-17,996	74	-11,159	4,417	-4,800	3,944	3,692	-891	-287	1,382	141	3,537	2,449	1,709	1,396	841	3,954	887	3,041	-8,992
Equity in loss of Unconsolidated Real Estate Affiliates
-4,843	19,152	16,145	-7,838	-7,873	27,347	20,336	15,030	23,839	52,867	35,937	30,732	33,214	103,855	35,651	34,618	57,491	32,275	16,584	13,278	11,253	17,700	7,391	19,320	7,157	17,754	13,984	13,987	13,194	38,493	22,054	11,843	5,952	5,431	9,833	-9,433	-2,933	-504
Equity Method Investment, Realized Gain (Loss) on Disposal
12,647	102,436	33,640	0	104,354	-1,488	478,293	0	10,361	12,000	0	0	0	10,791	259	25,591	14,914	6,067	11,163	297,767	12,020	-	0	0	-	9,189	-2,800	0	3,448	-	-	-	-	-	-	-	-	-
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	215,282	68,577	55,236	58,916	105,390	32,862	217,263	-26,694	10,682	-148,083	-106,845	-182,739	-267,329	260,837	-197,244	9,845	-247,408
Discontinued operations:
Income from discontinued operations, including gains on dispositions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	72,972	-24,230	-2,008	-3,340	-7,938	-25,778	-58,525	499	-11,509	-	-	-	-	-8,676
Gain on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	25,894	-	-	-	-	-	-	-	-	-
Discontinued operations, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	78,236	8,822	121,853	72,972	-24,230	-2,008	-3,340	17,956	24,987	-58,525	499	-11,509	-100,858	-4,276	-4,869	-2,910	-8,676
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-100,449	744,522	-36,789	-265,105	38,283	290,054	3,712,255	95,564	65,896	201,914	226,272	128,318	110,369	241,287	681,748	189,901	195,337	196,627	127,366	427,853	641,750	293,518	77,399	177,089	131,888	81,160	30,854	213,923	-8,738	35,669	-206,608	-106,346	-194,248	-368,187	256,561	-202,113	6,935	-256,084
Allocation to noncontrolling interests
-18,622	82,649	-3,366	-37,885	6,633	40,438	28,981	1,949	1,860	383	3,492	2,455	3,209	4,823	7,570	3,956	3,557	2,589	3,514	5,913	7,019	4,036	2,791	3,365	3,852	3,964	3,371	4,548	2,788	3,464	1,279	1,590	3,367	-351	4,511	935	1,273	-1,868
Net (loss) income attributable to Brookfield Property REIT Inc.
-81,827	661,873	-33,423	-227,220	31,650	249,616	3,683,274	93,615	64,036	201,531	222,780	125,863	107,160	236,464	674,178	185,945	191,780	194,038	123,852	421,940	634,731	289,482	74,608	173,724	128,036	77,196	27,483	209,375	-11,526	32,205	-207,887	-107,936	-197,615	-	-	-	-	-
Preferred Stock dividends
-	-	-	-	-	-	-	3,984	-	-	3,984	3,984	3,984	-	3,984	3,983	3,984	3,985	3,984	3,984	3,984	3,984	3,984	3,984	3,984	3,985	3,984	3,984	2,125	-	-	-	-	-	-	-	-	-
Net income attributable to common stockholders
-	-	-	-	-	-	-	-	-	-	218,796	121,879	103,176	-	670,194	181,962	187,796	190,053	119,868	417,956	630,747	285,498	70,624	169,740	124,052	73,211	23,499	205,391	-13,651	32,205	-207,887	-107,936	-197,615	-367,836	252,050	-203,048	5,662	-254,216
Common Stock Earnings Per Share (See Note 10):
Earnings Per Share [Abstract]
Continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.20	-	-	-0.21	-	-
Discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.01	-	-	-0.01	-	-
Basic & diluted earnings per share class A stock (in dollars per share)
0.33	0.33	0.33	0.33	0.33	-	0.31	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.21	-	-	-0.22	-	-
Dividends declared per share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.22	0.22	0.22	-	0.20	0.19	-	-	-	-	-	-	0.16	0.15	0.15	-	0.13	0.12	0.12	-	0.11	0.10	0.10	-	0.10	0.10	0.10	0.38
Basic
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.21	-	0.14	0.47	0.71	0.23	0.07	0.06	0.06	0.10	0.03	0.22	-0.03	-	-0.17	-0.12	-	-	0.27	-	-	-0.26
Diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.20	-	0.13	0.44	0.66	0.09	0.01	0.14	0.08	-0.03	0.00	0.00	0.02	-	-0.06	-	-	-	-	-	-	-0.01
Basic (in dollars per share)
-	-	-	-	-	-0.69	4.70	0.09	0.06	0.21	0.25	0.14	0.12	0.28	0.76	0.21	0.19	1.02	0.18	0.17	0.17	0.32	0.08	0.20	0.14	0.07	0.03	0.22	-0.01	-	-0.23	-0.12	-	-	0.27	-	-	-0.27
Continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.22	0.06	0.05	0.06	0.12	0.02	0.21	-0.03	-	-0.17	-0.12	-	-	-0.08	-	-	-0.26
Discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.09	0.01	0.13	0.07	-0.03	0.00	0.00	0.02	-	-0.06	-	-	-	-	-	-	-0.01
Diluted (in dollars per share)
-	-	-	-	-	-0.68	4.68	0.09	0.06	0.21	0.23	0.13	0.11	-	0.70	0.19	-	-	-	-	-	0.31	0.07	0.18	0.13	0.09	0.02	0.21	-0.01	-	-0.23	-0.12	-	-	-0.08	-	-	-0.27
Comprehensive Income (Loss), Net:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-100,449	744,522	-36,789	-265,105	38,283	290,054	3,712,255	95,564	65,896	201,914	226,272	128,318	110,369	241,287	681,748	189,901	195,337	196,627	127,366	427,853	641,750	293,518	77,399	177,089	131,888	81,160	30,854	213,923	-8,738	35,669	-206,608	-106,346	-194,248	-368,187	256,561	-202,113	6,935	-256,084
Other comprehensive loss
Foreign currency translation
-14,381	2,137	-5,472	1,131	-404	2,038	-2,347	-10,038	-378	-4,153	4,065	-4,030	2,567	-321	-994	8,673	6,961	1,330	-19,816	2,912	-17,718	-8,480	-12,270	3,194	3,952	-4,536	105,107	-60,575	9,648	-4,472	-842	-47,919	13,559	-5,490	-85,935	42,678	202	75
Reclassification adjustment for realized gains on available-for-sale securities included in net income
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-11,978	3,343	8,635	0	0	-	0	-	0	1	-996	682	248	-880	606	58	51	266	-8	4	1	-32
Net unrealized losses on other financial instruments
-1	-21	-72	8	-56	-1	8	-43	52	-8	10	-3	13	1	-16	11	9	14	16	21	-21	-	6	-33	-	-	0	0	-	-	-	-	-	-	0	0	-1	129
Other comprehensive loss
-14,382	2,116	-5,544	1,139	-460	2,037	-2,339	-10,081	-326	-4,161	4,075	-4,033	2,580	-320	-1,010	8,684	-5,008	4,687	-11,165	2,933	-17,739	-8,507	-12,264	3,161	3,952	-4,540	104,111	-59,893	9,896	-5,352	-236	-47,861	13,610	-5,223	-85,943	42,682	202	172
Comprehensive (loss) income
-114,831	746,638	-42,333	-263,966	37,823	292,091	3,709,916	85,483	65,570	197,753	230,347	124,285	112,949	240,967	680,738	198,585	190,329	201,314	116,201	430,786	624,011	285,011	65,135	180,250	135,840	76,620	134,965	154,030	1,158	30,317	-206,844	-154,207	-180,638	-373,410	170,618	-159,431	7,137	-255,912
Comprehensive loss (income) allocated to noncontrolling interests
-18,622	82,649	-3,366	-37,885	6,633	40,439	29,105	1,865	1,858	427	3,674	2,135	3,214	4,825	7,563	4,021	3,495	2,643	3,434	5,935	6,790	3,992	2,904	3,202	3,868	4,336	3,733	4,154	2,841	3,440	1,284	1,255	3,463	-377	3,899	1,235	1,274	-1,869
Comprehensive (loss) income attributable to Brookfield Property REIT Inc.
-96,209	663,989	-38,967	-226,081	31,190	251,652	3,680,811	83,618	63,712	197,326	226,673	122,150	109,735	236,142	673,175	194,564	186,834	198,671	112,767	424,851	617,221	281,019	62,231	177,048	131,972	72,284	131,232	149,876	-1,683	26,877	-208,128	-155,462	-184,101	-373,033	166,719	-160,666	5,863	-254,043
Preferred Stock dividends
-	-	-	-	-	-	-	3,984	-	-	3,984	3,984	3,984	-	3,984	3,983	3,984	3,985	3,984	3,984	3,984	3,984	3,984	3,984	3,984	3,985	3,984	3,984	2,125	-	-	-	-	-	-	-	-	-
Comprehensive income, net, attributable to common stockholders
-	-	-	-	-	-	-	-	-	-	-	118,166	105,751	-	669,191	190,581	182,850	194,686	108,783	420,867	613,237	277,035	58,247	173,064	127,988	68,299	127,248	145,892	-3,808	26,877	-208,128	-155,462	-184,101	-	-	-	-	-