hD

Income Statement Summary

General Growth Properties (GGP) quarterly income statement covering the six quarters from June 2009 to September 2010, as reported to the SEC.

  • General Growth Properties reported total revenues of $769.69M in the quarter ended September 30, 2010, up 1.1% from $760.96M a year earlier.
  • That is 4.4% lower than the June 2010 quarter.
  • Operating income was $273.88M, up 36.1% from $201.21M. Operating margin was 35.6%.
  • Net loss was $231.19M, a bigger loss than the $117.85M a year earlier. Net margin was -30%.
  • Diluted earnings per share was -$0.73, a bigger loss than the $0.38 a year earlier.
  • General and administrative took 1.2% of total revenues.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data
Sep'10Jun'10Mar'10Dec'09Sep'09Jun'09
Minimum rents

487,433

484,459

492,758

504,759

489,472

498,708

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Minimum rents

487,433

484,459

492,758

504,759

489,472

498,708

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tenant recoveries

217,906

215,587

214,251

208,845

217,040

224,691

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tenant recoveries

217,906

215,587

214,251

208,845

217,040

224,691

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Overage rents

10,333

7,447

10,346

26,091

10,408

5,782

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Overage rents

10,333

7,447

10,346

26,091

10,408

5,782

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Land and condominium sales

20,290

59,965

5,070

7,154

7,409

22,448

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Land and condominium sales

20,290

59,965

5,070

7,154

7,409

22,448

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Management fees and other corporate revenues

14,075

15,902

18,086

7,699

16,851

18,860

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Management fees and other corporate revenues

14,075

15,902

18,086

7,699

16,851

18,860

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other

19,655

21,957

20,726

39,570

19,781

21,606

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other

19,655

21,957

20,726

39,570

19,781

21,606

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total revenues

769,692

805,317

761,237

794,118

760,961

792,095

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total revenues

769,692

805,317

761,237

794,118

760,961

792,095

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Real estate taxes

71,339

71,062

72,095

70,453

69,925

68,959

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Real estate taxes

71,339

71,062

72,095

70,453

69,925

68,959

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Property maintenance costs

27,176

26,188

35,844

154,920

28,246

22,100

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Property maintenance costs

27,176

26,188

35,844

154,920

28,246

22,100

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Marketing

9,043

6,250

7,081

12,523

7,358

6,906

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Marketing

9,043

6,250

7,081

12,523

7,358

6,906

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other property operating costs

132,441

128,201

127,071

21,919

136,235

126,479

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other property operating costs

132,441

128,201

127,071

21,919

136,235

126,479

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Land and condominium sales operations

19,770

59,065

10,167

8,761

9,582

21,850

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Land and condominium sales operations

19,770

59,065

10,167

8,761

9,582

21,850

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for doubtful accounts

5,628

3,619

6,327

5,227

5,925

8,847

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provision for doubtful accounts

5,628

3,619

6,327

5,227

5,925

8,847

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Property management and other costs

41,057

48,517

35,432

46,392

44,876

42,200

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Property management and other costs

41,057

48,517

35,432

46,392

44,876

42,200

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

General and administrative

9,401

5,668

7,638

6,168

8,324

6,591

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

General and administrative

9,401

5,668

7,638

6,168

8,324

6,591

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Strategic initiatives

-

-

-

-

3,328

25,713

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Strategic initiatives

-

-

-

-

3,328

25,713

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provisions for impairment

4,620

19,923

11,350

749,389

60,940

82,388

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Provisions for impairment

4,620

19,923

11,350

749,389

60,940

82,388

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation and amortization

175,336

175,318

177,302

179,058

185,016

186,472

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation and amortization

175,336

175,318

177,302

179,058

185,016

186,472

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total expenses

495,811

543,811

490,307

1,254,810

559,755

598,505

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total expenses

495,811

543,811

490,307

1,254,810

559,755

598,505

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating income

273,881

261,506

270,930

-460,692

201,206

193,590

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating income

273,881

261,506

270,930

-460,692

201,206

193,590

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest income

274

137

676

1,567

523

501

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest income

274

137

676

1,567

523

501

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense

413,237

301,726

335,278

328,086

326,357

328,351

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense

413,237

301,726

335,278

328,086

326,357

328,351

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss before income taxes, noncontrolling interests, equity in income of Unconsolidated Real Estate Affiliates and reorganization items

-139,082

-40,083

-63,672

-787,211

-124,628

-134,260

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss before income taxes, noncontrolling interests, equity in income of Unconsolidated Real Estate Affiliates and reorganization items

-139,082

-40,083

-63,672

-787,211

-124,628

-134,260

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

(Provision for) benefit from income taxes

1,913

14,234

3,650

-4,408

-14,430

15,742

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

(Provision for) benefit from income taxes

1,913

14,234

3,650

-4,408

-14,430

15,742

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Equity in income of Unconsolidated Real Estate Affiliates

9,789

16,901

33,751

-34,583

15,341

16,339

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Equity in income of Unconsolidated Real Estate Affiliates

9,789

16,901

33,751

-34,583

15,341

16,339

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Reorganization items

102,517

80,111

-89,412

-

22,597

24,918

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Reorganization items

102,517

80,111

-89,412

-

22,597

24,918

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss from continuing operations

-233,723

-117,527

55,841

-623,681

-117,454

-158,581

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss from continuing operations

-233,723

-117,527

55,841

-623,681

-117,454

-158,581

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Discontinued operations - gain (loss) on dispositions

-

-

-

-940

29

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Discontinued operations - gain (loss) on dispositions

-

-

-

-940

29

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss

-233,723

-117,527

55,841

-624,621

-117,425

-158,581

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss

-233,723

-117,527

55,841

-624,621

-117,425

-158,581

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Allocation to noncontrolling interests

-2,538

-1

4,185

-12,263

422

-179

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Allocation to noncontrolling interests

-2,538

-1

4,185

-12,263

422

-179

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to common stockholders

-231,185

-117,526

51,656

-612,358

-117,847

-158,402

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss attributable to common stockholders

-231,185

-117,526

51,656

-612,358

-117,847

-158,402

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Continuing operations (in dollars per share)

-0.73

-0.37

0.16

-1.95

-0.38

-0.51

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Continuing operations (in dollars per share)

-0.73

-0.37

0.16

-1.95

-0.38

-0.51

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Discontinued operations (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Discontinued operations (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total basic loss per share (in dollars per share)

-0.73

-0.37

0.16

-1.95

-0.38

-0.51

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total basic loss per share (in dollars per share)

-0.73

-0.37

0.16

-1.95

-0.38

-0.51

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Continuing operations (in dollars per share)

-0.73

-0.37

0.16

-1.95

-0.38

-0.51

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Continuing operations (in dollars per share)

-0.73

-0.37

0.16

-1.95

-0.38

-0.51

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Discontinued operations (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Discontinued operations (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total diluted loss per share (in dollars per share)

-0.73

-0.37

0.16

-1.95

-0.38

-0.51

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total diluted loss per share (in dollars per share)

-0.73

-0.37

0.16

-1.95

-0.38

-0.51

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Dividends declared per share (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Dividends declared per share (in dollars per share)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss

-233,723

-117,527

55,841

-624,621

-117,425

-158,581

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net loss

-233,723

-117,527

55,841

-624,621

-117,425

-158,581

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net unrealized (losses) gains on financial instruments

-227

4,251

3,928

4,469

6,055

5,515

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net unrealized (losses) gains on financial instruments

-227

4,251

3,928

4,469

6,055

5,515

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accrued pension adjustment

88

-311

411

277

162

223

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accrued pension adjustment

88

-311

411

277

162

223

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Foreign currency translation

16,291

-3,672

-4,868

3,876

17,448

27,966

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Foreign currency translation

16,291

-3,672

-4,868

3,876

17,448

27,966

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Unrealized gains on available-for-sale securities

5

-3

4

417

6

89

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Unrealized gains on available-for-sale securities

5

-3

4

417

6

89

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other comprehensive income

16,157

265

-525

9,039

23,671

33,793

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other comprehensive income

16,157

265

-525

9,039

23,671

33,793

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Comprehensive loss

-217,566

-117,262

-

-

-93,754

-124,788

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Comprehensive loss

-217,566

-117,262

-

-

-93,754

-124,788

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other comprehensive loss allocated to noncontrolling interests

354

6

-11

205

537

767

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other comprehensive loss allocated to noncontrolling interests

354

6

-11

205

537

767

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Adjustment for noncontrolling interests

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Adjustment for noncontrolling interests

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Comprehensive loss, net, attributable to common stockholders

-217,920

-117,268

55,327

-615,787

-94,291

-125,555

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Comprehensive loss, net, attributable to common stockholders

-217,920

-117,268

55,327

-615,787

-94,291

-125,555

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx