| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
REVENUE | ||||||||||||||||||
Rental income | ||||||||||||||||||
156,567 | 167,035 | 184,055 | 193,700 | 203,359 | 213,558 | 260,102 | 251,791 | 245,620 | 241,017 | 189,210 | 186,627 | 190,369 | 186,421 | 181,993 | 177,798 | 0 | 0 | 0 |
Management and other fee income | ||||||||||||||||||
1,523 | 1,598 | 3,006 | 3,125 | 0 | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - |
Tenant reimbursements | ||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 60,699 | - | 59,993 | 60,644 | 0 | 0 | 0 |
Total revenue | ||||||||||||||||||
158,090 | 168,633 | 187,113 | 196,078 | 204,837 | 214,754 | 213,318 | 220,773 | 229,396 | 241,017 | 253,535 | 247,094 | 251,068 | 248,674 | 241,986 | 238,442 | 0 | 0 | 0 |
EXPENSES | ||||||||||||||||||
Property operating | ||||||||||||||||||
42,187 | 42,123 | 39,584 | 34,470 | 31,701 | 28,705 | 25,837 | 23,800 | 22,199 | 19,700 | 18,319 | 18,513 | 19,134 | 21,510 | 20,690 | 19,000 | 0 | 0 | 0 |
Real estate taxes | ||||||||||||||||||
37,628 | 38,595 | 39,164 | 42,199 | 41,257 | 42,446 | 42,743 | 41,879 | 44,612 | 45,653 | 48,287 | 44,917 | 44,634 | 43,681 | 42,715 | 45,491 | 0 | 0 | 0 |
Depreciation and amortization | ||||||||||||||||||
112,462 | 104,581 | 160,630 | 188,867 | 218,224 | 226,675 | 225,926 | 237,155 | 238,175 | 262,171 | 226,047 | 209,520 | 196,273 | 177,119 | 154,337 | 142,740 | 0 | 0 | 0 |
General and administrative | ||||||||||||||||||
38,817 | 39,156 | 36,166 | 36,374 | 36,750 | 34,788 | 36,071 | 33,005 | 29,425 | 27,902 | 21,004 | 19,984 | 19,304 | 17,469 | 17,278 | 18,808 | 0 | 0 | 0 |
Litigation charge | ||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | - | - | - | - |
Provision for doubtful accounts | ||||||||||||||||||
- | - | - | - | - | 257 | 296 | 277 | 180 | 158 | 243 | 320 | 0 | - | 0 | 0 | - | - | - |
Acquisition-related expenses | ||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | 73 | 130 | 18,470 | 0 | 0 | 0 |
Total expenses | ||||||||||||||||||
231,094 | 224,455 | 275,544 | 301,997 | 328,128 | 332,871 | 330,873 | 336,116 | 334,591 | 355,584 | 313,776 | 312,109 | 298,653 | 279,121 | 254,419 | 244,654 | 0 | 0 | 0 |
Loss before gain on sale of real estate | ||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | 0 | 0 | - | - | - | - | - | - | - |
Gain on sale of real estate, net | ||||||||||||||||||
70,631 | 71,104 | 48,064 | 53,020 | 75,595 | 96,165 | 106,437 | 0 | 0 | - | 0 | - | - | - | - | - | - | - | - |
Gain on sale of interests in unconsolidated joint ventures | ||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | 0 | - | - | - | - | - | - | - | - |
Operating loss | ||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | -60,241 | -65,015 | -47,585 | - | -12,433 | -6,212 | 0 | 0 | 0 |
Equity in (loss) income of unconsolidated joint ventures | ||||||||||||||||||
-20,110 | -17,994 | -17,780 | -14,430 | -6,644 | -10,448 | -10,568 | -11,988 | -11,372 | -7,788 | -4,075 | 1,108 | 3,562 | 4,646 | 6,547 | 7,770 | 0 | 0 | 0 |
Interest and other income | ||||||||||||||||||
4,559 | 6,824 | 11,777 | 11,523 | 9,804 | 7,886 | 2,703 | 1,893 | 1,479 | 877 | 542 | 267 | 284 | 266 | 294 | 255 | 0 | 0 | 0 |
Interest expense | ||||||||||||||||||
92,578 | 94,519 | 92,657 | 101,334 | 97,055 | 90,020 | 82,044 | 69,370 | 69,939 | 70,112 | 69,366 | 67,248 | 64,453 | 63,591 | 62,962 | 61,827 | 0 | 0 | 0 |
Change in fair value of interest rate cap | ||||||||||||||||||
- | - | - | - | - | -23 | -38 | -113 | -65 | -701 | -166 | -122 | -478 | -1,378 | -2,017 | -4,784 | 0 | 0 | 0 |
Loss before taxes | ||||||||||||||||||
-110,502 | -90,407 | -139,027 | -157,156 | -141,779 | -114,557 | -42,334 | -47,154 | -71,512 | -120,542 | -133,306 | -131,010 | -108,670 | -90,504 | -70,571 | -64,798 | 0 | 0 | 0 |
Provision for taxes | ||||||||||||||||||
182 | 196 | -33 | 100 | 194 | 321 | 442 | 349 | 256 | 271 | 359 | 431 | 469 | 505 | 905 | 1,284 | 0 | 0 | 0 |
Net loss | ||||||||||||||||||
-110,684 | -90,603 | -138,994 | -157,256 | -141,973 | -114,878 | -99,523 | -47,503 | -71,768 | -120,813 | -76,918 | -131,441 | -109,139 | -91,009 | -71,476 | -66,082 | 0 | 0 | 0 |
Net loss attributable to non-controlling interests | ||||||||||||||||||
-37,590 | -31,206 | -49,433 | -56,357 | -51,206 | -41,406 | -37,653 | -18,363 | -28,180 | -47,059 | -31,371 | -54,278 | -46,078 | -39,451 | -30,885 | -28,292 | 0 | 0 | 0 |
Net loss attributable to Seritage | ||||||||||||||||||
-73,094 | -59,397 | -89,561 | -100,899 | -90,767 | -73,472 | -61,870 | -29,140 | -43,588 | -73,754 | 0 | 0 | 0 | - | - | - | - | - | - |
Preferred dividends | ||||||||||||||||||
4,900 | 4,900 | 4,900 | 4,900 | 4,900 | 4,903 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - |
Net loss attributable to Seritage common shareholders | ||||||||||||||||||
-77,994 | -64,297 | -94,461 | -105,799 | -95,667 | -78,375 | -65,793 | -31,838 | -45,061 | -73,999 | -45,547 | -77,163 | -63,061 | -51,558 | -40,591 | -37,790 | 0 | 0 | 0 |
Net loss per share attributable to Class A and Class C common shareholders - Basic and diluted | ||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -0.23 | -0.27 | -0.13 | -0.58 |
Weighted average Class A and Class C common shares outstanding - Basic and diluted | ||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 31,391 | 31,391 | 31,388 | 31,384 |
Net loss per share attributable to Seritage Class A and Class C common shareholders - Basic | ||||||||||||||||||
-0.59 | -0.71 | -0.33 | -0.50 | -0.23 | -1.57 | -0.66 | -0.23 | 0.26 | -1.28 | 0.31 | -0.63 | -0.59 | - | -0.67 | - | - | - | - |
Net loss per share attributable to Seritage Class A and Class C common shareholders - Diluted | ||||||||||||||||||
-0.59 | -0.71 | -0.33 | -0.50 | -0.23 | -1.57 | -0.66 | -0.23 | 0.26 | -1.28 | 0.31 | -0.63 | -0.59 | - | -0.67 | - | - | - | - |
Weighted average Class A and Class C common shares outstanding - Basic | ||||||||||||||||||
37,232 | 36,861 | 36,829 | 36,291 | 35,671 | 35,745 | 35,598 | 35,483 | 35,414 | 34,166 | 33,774 | 33,766 | 33,510 | - | 31,419 | - | - | - | - |
Weighted average Class A and Class C common shares outstanding - Diluted | ||||||||||||||||||
37,232 | 36,861 | 36,829 | 36,291 | 35,671 | 35,658 | 35,598 | 35,483 | 35,501 | 34,099 | 33,841 | 33,766 | 33,510 | - | 31,419 | - | - | - | - |