TAUBMAN CENTERS, INC. TCO Income Statement

Taubman centers, inc. (TCO)

Income statement / TTM

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:
Rental revenues
580,124	581,755	524,023	470,116	410,690	353,226	351,691	348,872	348,079	345,557	342,829	339,744	335,651	333,325	327,984	324,066	318,241	310,831	309,261	328,468	348,131	371,454	399,799	406,609	413,310	417,729	415,101	411,164	406,871	398,306	383,291	368,656	353,475	342,612	327,197	326,785	327,107	327,580	335,355	334,854	0	0	0
Overage rents
20,286	19,210	17,936	17,334	17,186	16,670	17,022	17,359	16,973	16,923	17,414	20,078	19,823	20,020	21,154	19,922	20,075	20,233	20,949	21,180	21,197	22,929	25,799	27,557	27,546	28,512	28,991	28,285	29,251	28,026	23,534	21,956	21,457	20,358	16,093	14,782	14,293	13,063	9,182	6,317	0	0	0
Recovery of Direct Costs
-	-	-	-	-	205,514	211,417	211,281	210,141	211,625	209,561	209,752	207,719	202,467	198,176	193,231	191,871	188,023	189,481	205,802	220,985	239,782	262,384	266,800	271,166	272,494	270,476	269,166	265,812	258,252	251,702	242,300	234,353	229,313	222,078	221,529	223,595	225,079	222,657	224,500	0	0	0
Management Leasing And Development Services
4,196	4,846	4,826	3,759	3,693	3,271	3,424	3,711	4,260	4,383	5,175	5,427	27,248	28,059	29,835	31,803	11,948	13,177	13,409	13,177	12,801	12,349	10,793	16,411	15,265	16,142	18,324	19,805	26,545	31,811	37,569	32,418	28,339	25,551	20,110	19,386	18,913	16,109	14,866	13,696	0	0	0
Other
55,699	55,243	53,685	53,779	54,031	62,189	62,011	58,444	62,121	50,677	48,193	42,970	31,744	28,686	25,444	25,533	25,503	24,908	26,167	26,701	30,226	32,615	33,804	33,096	31,388	32,277	32,196	32,269	33,488	31,579	29,494	29,276	26,924	27,084	37,711	37,415	40,664	44,596	41,974	48,343	0	0	0
Total Revenues
660,305	661,054	651,807	648,421	639,586	640,870	645,565	639,667	641,574	629,165	623,172	617,971	622,185	612,557	602,593	594,555	567,638	557,172	559,267	595,328	633,340	679,129	732,579	750,473	758,675	767,154	765,088	760,689	761,967	747,974	725,590	694,606	664,548	644,918	623,189	619,897	624,572	626,427	624,034	627,710	0	0	0
Expenses:
Maintenance, taxes, utilities, and promotion
163,751	163,538	162,592	159,955	158,858	157,957	159,381	163,583	165,017	167,091	168,179	164,881	161,279	156,506	151,056	149,233	148,423	145,118	145,134	160,088	173,811	190,119	210,086	213,277	217,209	215,825	212,392	210,270	206,411	201,552	193,234	185,181	180,126	179,092	164,296	168,978	173,442	177,703	189,405	186,469	0	0	0
Other operating
81,405	82,488	83,365	82,865	82,667	87,308	93,310	97,996	99,060	94,513	86,368	81,021	79,405	78,794	75,283	69,423	63,621	58,131	56,190	61,494	62,864	65,142	66,867	68,126	70,568	71,235	74,793	71,626	73,056	73,203	71,523	70,650	66,532	67,301	60,700	59,516	58,477	57,354	61,298	63,579	0	0	0
Management, leasing, and development services
3,544	3,582	3,201	1,782	1,699	1,470	1,645	1,693	1,880	2,157	2,706	3,450	3,749	4,042	4,849	5,139	5,656	5,914	5,799	5,780	6,065	6,220	5,669	5,157	4,580	5,321	9,915	15,053	20,921	27,417	26,137	22,861	18,197	11,955	9,768	9,083	8,945	8,258	8,122	7,848	0	0	0
General and administrative
40,006	40,566	38,391	37,289	37,257	37,174	34,914	35,866	36,760	39,018	43,054	45,150	47,427	48,056	47,783	44,820	45,182	45,727	46,394	49,148	48,680	48,292	47,831	48,274	49,315	50,014	48,314	46,073	43,488	39,659	36,621	34,759	32,721	31,598	31,639	31,098	30,129	30,234	28,748	28,427	0	0	0
Impairment charges (Note 3)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Restructuring Charges
3,300	3,500	2,600	1,746	1,546	600	9,337	11,042	11,558	13,800	0	0	0	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Simon Property Group, Inc. transaction costs
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Costs Associated With Shareowner Activism
13,300	17,300	19,200	20,000	13,000	12,500	12,500	14,500	14,500	14,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition costs (Note 2)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Interest Expense
146,371	148,407	148,545	144,246	139,259	133,197	125,740	120,126	113,849	108,572	104,514	98,861	92,703	86,285	80,435	74,451	68,644	63,041	60,308	67,545	78,198	90,803	105,380	114,513	121,701	130,023	133,059	135,487	139,541	142,616	141,894	137,015	130,030	122,277	107,645	116,487	124,719	132,362	150,653	148,220	0	0	0
Depreciation, Depletion and Amortization
195,147	188,407	192,014	190,472	189,209	179,275	169,173	168,671	165,117	167,806	160,998	155,830	146,104	138,139	128,879	115,398	112,060	106,355	101,261	98,658	109,130	120,207	136,031	152,460	153,868	155,772	156,696	152,128	150,105	149,517	142,287	138,927	137,116	132,707	127,272	138,718	140,212	145,271	155,228	146,786	0	0	0
Operating Expenses
725,426	720,068	649,887	638,337	623,516	609,477	606,025	613,548	607,789	607,505	584,882	563,005	539,063	514,822	488,285	458,464	443,586	424,286	415,761	446,419	482,454	524,489	574,895	601,807	617,241	628,190	635,169	630,637	633,522	633,964	615,310	594,688	570,017	550,225	503,001	523,880	535,924	551,182	760,134	748,178	0	0	0
Nonoperating income, net (Notes 9 and 11)
19,264	27,449	27,324	24,916	30,590	14,714	29,339	23,133	13,906	23,828	22,559	24,634	24,236	22,927	10,259	6,700	5,480	5,256	-35,768	-35,887	-42,664	-42,807	-3,810	-5,157	214	1,348	1,857	2,369	2,390	277	646	686	1,271	1,252	2,050	2,145	2,639	2,683	1,737	1,744	0	0	0
Impairment loss on marketable securities (Note 16)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
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
-45,857	-31,565	29,244	35,000	46,660	46,107	68,879	49,252	47,691	45,488	60,849	79,600	107,358	120,662	124,567	142,791	129,532	138,142	107,738	113,022	108,222	111,833	153,874	143,509	141,648	140,312	131,776	132,421	130,835	114,287	110,926	100,604	95,802	95,945	122,238	98,162	91,287	77,928	-134,363	-120,390	0	0	0
Income tax expense (Note 3)
6,549	6,332	5,477	2,460	124	-231	-1,054	-4	81	105	2,303	1,789	2,118	2,212	422	1,466	1,712	2,248	2,684	2,783	2,406	2,267	2,387	3,157	3,080	3,409	6,241	5,520	5,778	4,964	1,635	1,111	614	610	599	629	748	734	337	297	0	0	0
Income (Loss) from Equity Method Investments
45,778	49,166	68,470	65,128	64,348	69,404	70,955	67,768	66,984	67,374	67,021	68,689	71,341	69,701	59,707	59,535	57,629	56,226	67,078	66,338	67,009	62,002	59,640	57,381	54,187	52,465	46,798	47,250	46,939	48,494	49,817	48,103	47,819	46,064	48,189	47,204	45,823	45,412	39,667	38,062	0	0	0
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	0	-	-	171,568	211,127	197,733	192,755	189,368	0	0	0	-	-	-	-	141,399	0	0	0	-	-	-	-	-	-
Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes
0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	1,106,554	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on remeasurement of ownership interest in Unconsolidated Joint Venture
0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-28,172	0	0	0	-	-	-	-	-	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
337,120	330,374	375,943	97,668	110,884	115,742	140,888	117,024	114,594	112,757	125,567	146,500	176,581	188,151	183,852	201,297	185,886	192,557	802,236	806,244	802,965	1,278,122	688,014	674,620	669,169	189,368	172,333	174,151	171,996	157,817	329,482	306,289	295,131	287,398	125,174	111,764	109,958	102,327	-95,033	-82,625	0	0	0
Net income attributable to noncontrolling interests (Note 6)
102,901	100,898	110,593	26,701	30,863	32,256	40,252	33,024	32,441	32,052	35,871	42,454	51,352	55,538	54,820	60,640	56,748	58,430	250,032	250,801	249,431	385,109	199,046	194,882	192,988	56,778	54,417	54,176	55,628	51,643	49,656	50,267	49,192	50,218	62,280	53,081	50,154	45,053	-31,507	-27,276	0	0	0
(Income) loss from discontinued operations attributable to noncontrolling interests (Note 9)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44,309	0	0	0	-	-	-	-	-	-
Net income attributable to Taubman Centers, Inc.
234,219	229,476	265,350	70,967	80,021	83,486	100,636	84,000	82,153	80,705	89,696	104,046	125,229	132,613	129,032	140,657	129,138	134,127	552,204	555,443	553,534	893,013	488,968	479,738	476,181	132,590	117,916	119,975	116,368	106,174	228,024	207,759	199,708	192,871	76,981	69,231	68,320	63,868	-63,526	-55,349	0	0	0
Distributions to participating securities of TRG (Note 8)
2,381	2,413	2,416	2,418	2,424	2,396	2,374	2,351	2,328	2,300	2,267	2,228	2,176	2,117	2,065	2,020	1,989	1,969	6,086	6,065	6,042	6,018	1,845	1,809	1,775	1,749	1,716	1,684	1,651	1,612	1,601	1,580	1,558	1,536	1,685	1,674	1,654	1,635	1,456	1,446	0	0	0
Preferred stock dividends
23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,138	23,117	20,933	18,219	23,098	20,993	21,051	21,639	14,634	14,634	14,634	14,634	14,634	14,634	14,634	14,633	14,634	0	0	0
Net Income (Loss) Available to Common Stockholders, Basic
208,700	203,925	239,796	45,411	54,459	57,952	75,124	58,511	56,687	55,267	64,291	78,680	99,915	107,358	103,829	115,499	104,011	109,020	522,980	526,240	524,354	863,857	463,985	454,791	451,289	109,908	97,981	95,193	93,724	83,511	204,784	191,545	183,516	176,701	60,662	52,923	52,032	47,599	-79,615	-71,429	0	0	0
Other comprehensive income (loss) (Note 12):
Net income (loss)
337,120	330,374	375,943	97,668	110,884	115,742	140,888	117,024	114,594	112,757	109,857	153,350	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-95,033	-82,625	0	0	0
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax
-27,069	-14,038	-27,707	-24,291	-11,345	-38	19,513	17,654	9,279	57	2,644	4,471	4,749	-4,308	-10,351	-22,667	-16,139	-13,668	-24,351	-10,962	-21,881	-18,004	-8,934	-13,511	2,873	8,817	7,511	7,673	-6,859	-4,506	-7,253	-24,684	-20,433	-20,583	-7,818	12,004	18,442	18,240	7,561	11,056	0	0	0
Cumulative Translation Adjustment, Net of Tax, Period Increase (Decrease)
-36,464	-14,171	-21,479	-26,904	-23,643	-23,240	-8,449	16,004	27,575	33,303	-5,340	-7,194	-13,832	-17,339	7,708	-10,947	-7,420	-15,279	-20,219	-13,068	-5,924	-7,193	401	9,769	4,080	4,407	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax
1,585	930	506	579	1,160	1,809	-1,554	-3,057	-5,103	-7,564	-6,038	-8,245	-9,537	-9,339	-11,714	-11,557	-12,165	-12,021	-11,575	-11,090	-16,318	-16,729	-15,822	-14,963	-8,512	-5,583	-4,966	-3,377	-1,413	-793	-396	0	-655	-1,215	1,726	1,166	1,260	1,260	-1,261	-1,260	0	0	0
Other comprehensive income (loss)
-62,272	-29,139	-52,538	-54,620	-38,994	-25,087	12,618	36,715	41,957	40,924	3,342	5,522	454	-12,308	9,071	-22,057	-11,394	-16,926	-32,995	-12,940	-11,487	-8,468	7,289	11,221	15,465	18,807	15,715	9,202	-6,151	-1,069	-6,367	-23,704	-19,288	-19,368	0	0	0	-	-	-	-	-	-
Impairment loss on marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Comprehensive income
274,848	301,235	323,405	43,048	71,890	90,655	153,506	153,739	156,551	153,681	128,909	152,022	177,035	175,843	192,923	179,240	174,492	175,631	769,241	793,304	791,478	1,269,654	695,303	685,841	684,634	208,175	188,048	183,353	165,845	156,748	323,115	282,585	275,843	268,030	118,640	125,122	129,660	121,827	-86,211	-68,643	0	0	0
Comprehensive income attributable to noncontrolling interests
88,273	95,049	97,388	10,563	19,565	24,994	43,924	43,699	44,634	43,956	36,457	43,816	51,467	51,927	57,846	54,396	53,343	53,458	240,418	247,093	246,303	382,825	201,335	198,266	197,625	62,443	59,191	57,125	53,683	51,238	85,986	77,362	75,689	74,856	47,391	48,965	51,152	48,490	-25,916	-19,893	0	0	0
Comprehensive (loss) income attributable to Taubman Centers, Inc.
186,575	206,186	226,017	32,485	52,325	65,661	109,582	110,040	111,917	109,725	92,452	108,206	125,568	123,916	135,077	124,844	121,149	122,173	528,823	546,211	545,175	886,829	493,968	487,575	487,009	145,732	128,857	126,228	112,162	105,510	237,129	205,223	200,154	193,174	71,249	76,157	78,508	73,337	-60,295	-48,750	0	0	0
Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.09	-0.14	-0.08	-0.08	-	-	-	-	-	-
Earnings Per Share, Basic
0.32	-0.54	3.52	0.10	0.25	0.05	0.34	0.25	0.31	0.34	0.07	0.22	0.28	0.48	0.31	0.58	0.41	0.43	0.50	0.38	0.47	6.94	0.53	0.34	5.84	0.63	0.38	0.28	0.44	-	0.36	0.28	0.30	2.62	0.15	0.15	0.19	0.60	0.01	0.14	0.12	-1.77	0.17
Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.03	-0.14	-0.08	-0.07	-	-	-	-	-	-
Earnings Per Share, Diluted
0.32	-0.51	3.48	0.10	0.25	0.06	0.34	0.25	0.30	0.34	0.07	0.22	0.28	0.48	0.31	0.57	0.41	0.42	0.50	0.37	0.47	6.87	0.53	0.33	5.74	0.62	0.38	0.28	0.43	-	0.35	0.27	0.30	2.55	0.14	0.15	0.19	0.60	0.01	0.14	0.11	-1.77	0.17
Common Stock, Dividends, Per Share, Declared
-	-	-	-	-	-	-	-	-	-	0.62	0.62	0.62	-	0.59	0.59	0.59	-	0.56	0.56	0.56	-	0.54	0.54	0.54	-	0.50	0.50	0.50	-	0.46	0.46	0.46	-	0.43	0.43	0.43	-	0.41	0.41	0.41	0.41	0.41
Basic earnings per common share (Note 16)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.53	0.29	0.23	0.27	-	-	-	-	-	-
Diluted earnings per common share (Note 16)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.52	0.28	0.23	0.26	-	-	-	-	-	-
Weighted Average Number of Shares Outstanding, Basic
61,249	61,221	61,211	61,171	61,124	61,066	61,001	60,992	60,917	60,740	60,710	60,694	60,555	60,428	60,396	60,353	60,275	60,196	60,713	61,606	63,039	63,324	63,317	63,263	63,165	63,410	63,753	63,786	63,415	61,929	60,571	58,789	58,247	57,962	57,890	56,186	55,560	54,690	54,679	54,550	54,357	53,147	53,120