MACERICH CO MAC Income Statement

Macerich co (MAC)

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	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues:
Leasing revenue
210,721	222,584	214,260	211,022	211,008	224,619	224,251	217,014	218,112	478,713	144,991	152,893	145,555	158,781	154,018	152,448	151,048	181,528	194,183	193,131	190,761	182,323	150,395	149,220	151,633	155,613	145,259	140,214	137,027	102,960	112,221	112,612	119,528	62,528	108,461	104,451	105,834	85,147	105,550	102,002	101,980	117,593	120,569
Percentage rents
-	-	-	-	-	-	-	-	-	-	2,806	2,060	1,918	11,623	3,871	2,394	3,014	13,877	5,992	2,576	3,248	15,053	4,072	2,372	2,853	12,547	4,111	2,516	3,982	10,172	4,838	2,625	3,753	7,394	3,773	2,861	2,790	6,444	3,862	3,108	2,987	3,907	2,669
Revenues
226,952	241,841	231,127	227,972	226,522	246,874	242,198	234,545	236,734	256,743	242,451	247,423	247,045	272,000	253,367	259,904	256,000	320,758	326,262	322,794	318,335	322,906	263,492	254,337	264,512	282,139	258,154	245,878	243,304	187,825	204,092	195,657	209,943	124,861	193,319	181,299	185,265	158,746	189,471	181,226	182,114	197,792	202,175
Expenses:
Leasing expenses
7,425	7,267	7,162	7,677	7,505	3,033	2,565	2,692	3,334	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
REIT general and administrative expenses
6,821	5,799	5,285	4,589	6,961	5,746	5,439	4,956	8,019	7,032	5,287	7,458	8,463	4,977	6,930	7,681	8,629	7,210	6,688	7,550	8,422	12,073	5,339	5,123	6,877	9,100	5,955	6,693	6,024	5,176	5,063	5,655	4,518	5,237	4,490	3,742	7,644	4,997	4,546	3,642	7,518	7,085	4,648
Costs related to shareholder activism
-	-	0	0	-	-	0	19,369	-	-	0	0	-	-	-	-	-	0	209	11,423	13,572	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
82,213	84,086	82,787	82,385	81,468	86,828	81,803	78,868	79,937	85,968	83,147	83,243	83,073	89,391	86,976	85,190	86,931	107,035	117,486	119,333	120,618	112,517	89,741	87,801	88,657	93,132	88,436	88,579	87,018	65,874	68,737	69,169	73,841	40,904	64,283	60,926	61,867	45,785	62,185	59,365	59,215	60,902	62,302
Total expenses before interest
183,408	182,250	180,076	174,435	184,552	178,080	180,869	192,231	200,789	189,005	186,078	187,949	195,950	195,286	193,501	191,080	202,784	228,190	240,345	252,422	270,744	243,750	201,940	195,685	208,682	215,852	200,776	196,770	194,795	150,840	157,752	160,590	166,384	98,127	152,111	144,656	154,618	115,198	152,732	143,769	149,741	148,493	151,734
Interest (income) expense:
Related parties
44,243	2,768	36,059	13,243	10,447	1,598	-1,074	2,762	-10,169	-6,586	-2,175	-2,181	2,211	-15,725	2,224	2,256	2,272	2,387	2,690	2,709	2,729	4,065	3,671	3,690	3,708	3,727	3,745	3,764	3,780	3,798	3,815	3,833	3,940	4,087	4,081	4,086	4,489	4,598	3,451	3,103	3,102	4,405	6,254
Other
52,317	50,757	50,858	50,352	48,804	48,083	43,853	41,677	42,466	42,725	41,090	40,140	39,090	40,500	37,759	38,939	37,504	46,418	52,266	52,187	50,557	46,683	44,132	42,110	42,630	43,862	45,858	46,611	45,900	33,209	37,750	39,464	38,583	25,711	39,680	39,980	45,135	34,134	48,211	49,135	52,309	61,374	65,660
Total interest expense
8,074	47,989	14,799	37,109	38,357	46,485	44,927	38,915	52,635	44,889	43,265	42,321	41,301	42,721	39,983	41,195	39,776	48,805	54,956	54,896	53,286	50,748	47,803	45,800	46,338	47,589	49,603	50,375	49,680	37,007	41,565	43,297	42,523	29,798	43,761	44,066	49,624	38,732	51,662	52,238	55,411	65,779	71,914
Loss on extinguishment of debt, net
0	0	0	0	-351	0	0	0	0	-	-	-	-	0	5,284	0	-3,575	878	-27	-1,609	2,245	-9,147	-46	0	-358	-505	-6	1,943	0	-	0	-	-	7,648	0	-32	-9,101	-	2,096	-489	-	-455	7,127
Total expenses
191,482	230,239	194,875	211,544	223,260	224,565	225,796	231,146	253,424	233,894	229,343	230,270	237,251	238,007	228,200	232,275	246,135	276,117	295,328	308,927	321,785	303,645	249,789	241,485	255,378	263,946	250,385	245,202	244,475	187,847	199,317	203,887	208,907	120,277	195,872	188,754	213,343	151,876	202,298	196,496	205,152	214,727	216,521
Equity in income of unconsolidated joint ventures
9,698	14,426	14,582	7,257	12,243	20,443	18,789	15,669	16,872	28,774	23,993	16,936	15,843	19,404	11,261	14,616	11,660	16,979	10,817	9,094	8,274	16,019	16,935	13,903	13,769	22,103	35,161	92,201	18,115	10,657	19,315	18,691	30,618	219,156	20,039	25,207	30,275	27,621	19,687	15,762	16,459	19,165	14,556
Co-venture expense
-	-	-	-	-	-	-	-	-	-2,479	-3,150	-4,123	-3,877	-3,875	-3,006	-3,212	-3,289	-3,907	-2,954	-2,813	-2,130	-3,314	-2,144	-2,212	-1,820	-2,632	-2,053	-2,138	-2,041	-2,061	-2,066	-1,304	-1,092	-2,027	-1,281	-1,202	-1,296	-2,547	-269	-1,993	-1,384	-	-
Income tax benefit (expense)
-266	-114	678	679	346	-1,805	466	684	-2,949	15,772	2,869	437	-3,484	-2,014	905	514	1,317	-1,146	-859	-283	-935	-510	-689	-2,898	-172	571	-543	-1,477	-243	-2,000	-934	-3,075	1,850	-298	-1,566	-1,768	-2,478	-3,950	-2,662	-1,375	-1,215	302	-380
Loss on sale or write down of assets, net
-36,703	3,597	-131	-9,059	-6,316	-31,311	46,516	-9,518	-37,512	5,212	-11,854	-477	49,565	-10,702	-19,321	10,915	434,456	385,326	-3,342	-4,671	935	74,945	9,561	-9,455	-1,611	-90,336	8,249	-798	4,828	-11,202	21,967	-1,528	19,497	-26,165	1,041	1,287	1,800	-	-8	582	-	157,612	1,390
Gain on remeasurement of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-14	22,103	1,423,136	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,038	49,669	91,418	19,974	199,328	44,925	10,704	48,209	195,846	18,812	19,605	5,179	35,817	9,245	456	-6,748	159,540	1,980
Gain on disposition of assets, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	152,269	-7,767	141,906	6	-24,761	-256	131,396	-55,568	-29,685	342	-35,753	-2,237	-	48	-72	-	3,968	-26,995
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	557	-1,077	1,492	2,550	11,727	2,606	2,443	-4,364	9,478	-4,898	-4,763	-2,851	-	175	-329	-	863	649
Total income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	152,826	-8,844	143,398	2,556	-13,034	2,350	133,839	-59,932	-20,207	-4,556	-40,516	-5,088	-10,059	223	-401	-113	4,831	-26,346
Net income
8,731	29,739	50,025	13,947	8,843	13,246	81,241	8,866	-34,381	38,584	19,228	29,052	74,809	40,834	13,196	49,434	451,375	444,185	36,314	15,746	26,667	1,530,557	38,744	17,986	19,644	150,788	40,825	234,816	22,530	186,294	47,275	144,543	-11,723	175,639	14,256	-20,911	91	25,758	9,468	55	-6,861	164,371	-24,366
Less net income attributable to noncontrolling interests
1,209	2,848	3,654	-1,787	1,019	1,497	7,213	1,050	-808	5,833	1,730	2,414	5,566	3,706	-534	4,212	30,460	29,226	2,717	1,351	2,056	101,336	2,830	1,898	1,825	5,910	2,702	15,819	4,438	12,047	3,382	11,189	2,345	12,532	1,315	-1,695	57	2,200	1,039	495	-504	21,533	-2,630
Net income attributable to the Company
7,522	26,891	46,371	15,734	7,824	11,749	74,028	7,816	-33,573	32,751	17,498	26,638	69,243	37,128	13,730	45,222	420,915	414,959	33,597	14,395	24,611	1,429,221	35,914	16,088	17,819	144,878	38,123	218,997	18,092	174,247	43,893	133,354	-14,068	163,107	12,941	-19,216	34	-	-	-	-	-	-
Earnings per common share—attributable to common stockholders:
Net income (loss) attributable to the Company
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,429	-440	-6,357	142,838	-21,736
Income from continuing operations (dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.02	0.33	0.61	0.11	1.38	0.31	0.07	0.31	1.37	0.13	0.13	0.04	0.30	0.06	-0.01	-0.08	1.70	0.01
Discontinued operations (dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.02	-0.06	0.96	0.02	-0.09	0.02	0.93	-0.42	-0.14	-0.03	-0.28	-0.04	-	-	-	-	0.05	-0.30
Basic (in dollars per share)
0.05	0.19	0.33	0.11	0.05	0.09	0.52	0.05	-0.24	0.23	0.12	0.19	0.48	0.35	0.09	0.31	2.77	2.63	0.21	0.09	0.15	9.97	0.25	0.11	0.13	1.04	0.27	1.57	0.13	1.29	0.33	1.00	-0.11	-	0.10	-0.15	-	0.22	0.06	-0.01	-0.08	1.75	-0.29
Income from continuing operations (dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.01	0.33	0.61	0.11	1.38	0.31	0.07	0.31	1.37	0.13	0.13	0.04	0.30	0.06	-0.01	-0.08	1.70	0.01
Discontinued operations (dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.02	-0.06	0.96	0.02	-0.09	0.02	0.93	-0.42	-0.14	-0.03	-0.28	-0.04	-	-	-	-	0.05	-0.30
Diluted (in dollars per share)
0.05	0.19	0.33	0.11	0.05	0.09	0.52	0.05	-0.24	0.23	0.12	0.19	0.48	0.36	0.09	0.31	2.76	2.63	0.21	0.09	0.15	9.96	0.25	0.11	0.13	1.03	0.27	1.57	0.13	1.29	0.33	1.00	-0.11	-	0.10	-0.15	-	0.22	0.06	-0.01	-0.08	1.75	-0.29
Weighted average number of common shares outstanding:
Basic (in shares)
141,437	141,386	141,368	141,344	141,262	141,211	141,196	141,137	141,024	140,918	141,299	141,695	143,596	143,845	143,923	146,644	151,984	156,310	158,517	158,501	158,336	149,999	140,916	140,894	140,767	140,770	140,712	139,372	137,538	137,007	134,220	132,768	132,273	132,151	132,096	131,691	130,574	130,774	130,213	123,446	96,951	79,496	77,270
Diluted (in shares)
141,437	141,386	141,368	141,344	141,262	141,193	141,196	141,137	141,050	140,959	141,310	141,728	143,655	143,936	144,036	146,769	152,103	156,429	158,634	158,633	158,544	150,251	141,060	141,036	140,817	140,805	140,773	139,526	137,616	137,112	134,330	132,877	132,273	132,151	132,096	131,691	130,574	130,774	130,213	123,446	96,951	79,694	77,270
Tenant recoveries
Revenue from Contract with Customer, Excluding Assessed Tax
-	-	-	-	-	-	-	-	-	-	72,897	68,948	72,412	74,714	74,447	75,948	80,173	97,500	106,339	105,592	105,698	96,210	90,059	83,375	91,475	89,919	87,218	81,674	78,961	56,560	64,713	61,625	64,695	34,521	63,538	58,022	59,791	48,586	61,808	57,112	61,009	59,228	61,765
Other
Revenues
9,258	7,825	6,889	7,831	5,334	10,865	6,895	7,035	8,080	-12,368	11,701	13,519	15,264	16,343	12,048	17,789	13,148	18,669	14,477	15,321	13,003	20,588	10,614	10,594	10,430	15,059	10,824	11,173	13,186	7,628	12,462	9,138	10,752	8,476	7,788	7,846	6,266	8,541	7,722	6,887	5,917	6,615	7,827
Management Companies
Revenues
6,973	11,432	9,978	9,119	10,180	11,390	11,052	10,496	10,542	16,746	4,749	10,003	11,896	10,539	8,983	11,325	8,617	9,184	5,271	6,174	5,625	8,732	8,352	8,776	8,121	9,001	10,742	10,301	10,148	10,505	9,858	9,657	11,215	11,942	9,759	8,119	10,584	10,028	10,529	12,117	10,221	10,449	9,345
Operating expenses
16,224	16,575	15,514	15,692	19,014	19,686	18,961	18,274	34,989	10,922	22,046	26,216	28,517	22,839	23,285	24,299	27,900	24,621	21,012	20,239	26,468	23,248	21,508	20,896	22,772	24,460	23,036	22,816	23,149	18,643	20,706	23,734	22,527	19,560	20,251	20,921	25,855	21,719	22,042	24,466	22,187	16,400	18,872
Shopping center and operating expenses
Operating expenses
70,725	68,523	69,328	64,092	69,604	62,787	72,101	68,072	74,510	72,663	75,598	71,032	75,897	78,079	76,310	73,910	79,324	89,324	94,950	93,877	101,664	95,912	85,352	81,865	90,376	89,160	83,349	78,682	78,604	61,147	63,246	62,032	65,498	32,426	63,087	59,067	59,252	42,697	63,959	56,296	60,821	64,106	65,912