TAUBMAN CENTERS, INC. TCO Income Statement

Taubman centers, inc. (TCO)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Revenues:
Rental revenues
581,755	353,226	345,557	333,325	310,831	371,454	417,729	398,306	342,612	327,580	327,033	353,200
Overage rents
19,210	16,670	16,923	20,020	20,233	22,929	28,512	28,026	20,358	13,063	10,710	13,764
Recovery of Direct Costs
-	205,514	211,625	202,467	188,023	239,782	272,494	258,252	229,313	225,079	233,957	248,555
Management Leasing And Development Services
4,846	3,271	4,383	28,059	13,177	12,349	16,142	31,811	25,551	16,109	21,179	15,911
Other
55,243	62,189	50,677	28,686	24,908	32,615	32,277	31,579	27,084	44,596	44,579	40,068
Total Revenues
661,054	640,870	629,165	612,557	557,172	679,129	767,154	747,974	644,918	626,427	637,458	671,498
Expenses:
Maintenance, taxes, utilities, and promotion
163,538	157,957	167,091	156,506	145,118	190,119	215,825	201,552	179,092	177,703	186,397	189,162
Other operating
82,488	87,308	94,513	78,794	58,131	65,142	71,235	73,203	67,301	57,354	49,035	79,595
Management, leasing, and development services
3,582	1,470	2,157	4,042	5,914	6,220	5,321	27,417	11,955	8,258	7,862	8,710
General and administrative
40,566	37,174	39,018	48,056	45,727	48,292	50,014	39,659	31,598	30,234	27,858	28,110
Gains on extinguishment of debt
-	-	-	-	-	-	-	-	174,171	-	-	-
Impairment of Real Estate
72,232	0	0	-	-	-	-	-	-	-	166,680	-
Impairment charges (Note 3)
-	-	-	-	-	-	-	-	-	-	-	117,943
Restructuring Charges
3,500	600	13,800	-	0	3,706	-	-	-	-	2,512	-
Costs Associated With Shareowner Activism
17,300	12,500	14,500	3,000	-	-	-	-	-	-	-	-
Acquisition costs (Note 2)
-	-	-	-	-	-	-	-	5,295	-	-	-
Interest Expense
148,407	133,197	108,572	86,285	63,041	90,803	130,023	142,616	122,277	132,362	131,558	147,397
Depreciation, Depletion and Amortization
188,407	179,275	167,806	138,139	106,355	120,207	155,772	149,517	132,707	145,271	136,505	147,441
Operating Expenses
720,068	609,477	607,505	514,822	424,286	524,489	628,190	633,964	550,225	551,182	541,727	718,358
Nonoperating income, net (Notes 9 and 11)
27,449	14,714	23,828	22,927	5,256	-42,807	1,348	277	1,252	2,683	567	4,569
Impairment Loss on Marketable Securities
-	-	-	-	-	-	-	-	-	-	1,666	-
Income before income tax expense, equity in income of UJVs, gains on partial dispositions of ownership interests in UJVs, net of tax, and gains on remeasurements of ownership interests in UJVs
-31,565	46,107	45,488	120,662	138,142	111,833	140,312	114,287	95,945	77,928	94,632	-42,291
Income tax expense (Note 3)
6,332	-231	105	2,212	2,248	2,267	3,409	4,964	610	734	1,657	1,117
Income (Loss) from Equity Method Investments
49,166	69,404	67,374	69,701	56,226	62,002	52,465	48,494	46,064	45,412	11,488	35,356
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
11,269	115,742	112,757	-	192,120	171,568	189,368	157,817	141,399	122,606	104,463	-
Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes
154,466	-	-	-	437	1,106,554	-	-	-	-	-	-
Gain on remeasurement of ownership interest in Unconsolidated Joint Venture
164,639	-	-	-	-	-	-	-	-	-	-	-
Other discontinued operations
-	-	-	-	-	-	-	-	-28,172	-20,279	-16,944	-
Income (Loss) from Discontinued Operations, Including Portion Attributable to Noncontrolling Interest
-	-	-	-	-	-	-	-	145,999	-20,279	-183,624	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
330,374	115,742	112,757	188,151	192,557	1,278,122	189,368	157,817	287,398	102,327	-79,161	-8,052
Net income attributable to noncontrolling interests (Note 6)
100,898	32,256	32,052	55,538	58,430	385,109	56,778	51,643	50,218	45,053	40,416	62,527
(Income) loss from discontinued operations attributable to noncontrolling interests (Note 9)
-	-	-	-	-	-	-	-	44,309	-6,594	-66,065	-
Net income attributable to Taubman Centers, Inc.
229,476	83,486	80,705	132,613	134,127	893,013	132,590	106,174	192,871	63,868	-53,512	-70,579
Distributions to participating securities of TRG (Note 8)
2,413	2,396	2,300	2,117	1,969	6,018	1,749	1,612	1,536	1,635	1,560	1,446
Preferred stock dividends
23,138	23,138	23,138	23,138	23,138	23,138	20,933	21,051	14,634	14,634	14,634	14,634
Net Income (Loss) Available to Common Stockholders, Basic
203,925	57,952	55,267	107,358	109,020	863,857	109,908	83,511	176,701	47,599	-69,706	-86,659
Other comprehensive income (loss) (Note 12):
Net income (loss)
330,374	115,742	112,757	188,151	192,557	-	-	-	-	-	-79,161	-8,052
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax
-14,038	-38	57	-4,308	-13,668	-18,004	8,817	-4,506	-20,583	18,240	8,227	-22,377
Cumulative Translation Adjustment, Net of Tax, Period Increase (Decrease)
-14,171	-23,240	33,303	-17,339	-15,279	-7,193	4,407	2,644	-	-	-	-
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax
930	1,809	-7,564	-9,339	-12,021	-16,729	-5,583	-793	-1,215	1,260	-1,262	-1,260
Other comprehensive income (loss)
-29,139	-25,087	40,924	-12,308	-16,926	-8,468	18,807	-1,069	-19,368	19,500	-	-
Impairment loss on marketable securities
-	-	-	-	-	-	-	-	-	-	-1,666	-
Comprehensive income
301,235	90,655	153,681	175,843	175,631	1,269,654	208,175	156,748	268,030	121,827	-68,006	-29,169
Comprehensive income attributable to noncontrolling interests
95,049	24,994	43,956	51,927	53,458	382,825	62,443	51,238	74,856	48,490	-19,829	62,549
Comprehensive (loss) income attributable to Taubman Centers, Inc.
206,186	65,661	109,725	123,916	122,173	886,829	145,732	105,510	193,174	73,337	-48,177	-91,718
Discontinued operations
-	-	-	-	-	-	-	-	1.79	-0.25	-2.21	-
Earnings Per Share, Basic
3.33	0.95	0.91	1.78	1.78	13.65	1.73	-	3.11	0.87	-1.31	-1.64
Discontinued operations
-	-	-	-	-	-	-	-	1.74	-0.25	-2.19	-
Earnings Per Share, Diluted
3.32	0.95	0.91	1.77	1.76	13.47	1.71	-	3.03	0.86	-1.30	-1.64
Basic earnings per common share (Note 16)
-	-	-	-	-	-	-	1.39	1.32	1.12	0.90	-
Diluted earnings per common share (Note 16)
-	-	-	-	-	-	-	1.37	1.29	1.11	0.89	-
Weighted Average Number of Shares Outstanding, Basic
61,181	60,994	60,675	60,363	61,389	63,267	63,591	59,884	56,899	54,569	53,239	52,866