Deferred Charges, Goodwill And Other Assets, Net (Tables)
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9 Months Ended |
Sep. 30, 2016 |
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| Deferred Charges, Goodwill And Other Assets [Line Items] |
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| Schedule Of Deferred Charges, Goodwill And Other Assets |
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September 30,
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December 31,
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(dollars in thousands)
|
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2016
|
|
|
2015
|
|
Deferred leasing costs
|
$
|
230,718
|
|
$
|
239,690
|
|
Deferred financing costs - revolving credit facility (a)
|
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5,359
|
|
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5,394
|
|
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236,077
|
|
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245,084
|
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Accumulated amortization
|
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(107,982)
|
|
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(118,014)
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Deferred charges, net
|
|
128,095
|
|
|
127,070
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|
Notes receivable (b)
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13,313
|
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13,496
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In-place lease values, related intangibles and other assets, net
|
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77,656
|
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10,931
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Goodwill (c)
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2,945
|
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2,945
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Prepaid expenses and other assets, net (d)
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81,645
|
|
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49,408
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|
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Total deferred charges, goodwill and other assets, net
|
$
|
303,654
|
|
$
|
203,850
|
(a)Pursuant to recently issued accounting standards, deferred financing costs related to all other debt liabilities (other than for the revolving credit facility) are classified to net against those debt liabilities for all periods presented. See Note 2: Significant Accounting Policies – Deferred Financing Costs.
(b)Includes as of September 30, 2016: a mortgage receivable for $10.4 million which bears interest at LIBOR plus six percent and matures in August 2017; and an interest-free note receivable with a net present value of $2.9 million and matures in April 2023. The Company believes these balances are fully collectible.
(c)All goodwill is attributable to the Company’s Multi-family Services segment.
(d)Includes as of September 30, 2016, $39.0 million of proceeds from property sales held by a qualified intermediary.
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| Schedule Of Fair Value Of The Derivative Financial Instruments |
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Fair Value
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Liability Derivatives designated
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September 30,
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December 31,
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as hedging instruments
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2016
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2015
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Balance sheet location
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|
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Interest rate swaps
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$
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7,528
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$
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-
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Accounts payable, accrued expenses and other liabilities
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Asset Derivatives not designated
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as hedging instruments
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Interest rate caps
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$
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-
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$
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2
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Deferred charges, goodwill and other assets
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| Schedule Of Cash Flow Hedging, Derivative Financial Instruments On The Income Statement |
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Derivatives in Cash Flow Hedging Relationships
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Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)
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Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
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Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
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Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
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Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion, Reclassification for Forecasted Transactions No Longer Probable of Occurring and Amount Excluded from Effectiveness Testing)
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2016
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2015
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2016
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2015
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2016
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2015
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Three months ended September 30,
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Interest rate swaps
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$
|
866
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|
$
|
-
|
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Interest expense
|
|
$
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860
|
|
$
|
-
|
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Interest and other investment income (loss)
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$
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1,012
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$
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-
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Nine months ended September 30,
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Interest rate swaps
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$
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(10,128)
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$
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-
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Interest expense
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$
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2,600
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$
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-
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Interest and other investment income (loss)
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$
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-
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$
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-
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| Mack Cali Realty LP [Member] |
|
| Deferred Charges, Goodwill And Other Assets [Line Items] |
|
| Schedule Of Deferred Charges, Goodwill And Other Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
|
|
|
December 31,
|
|
(dollars in thousands)
|
|
2016
|
|
|
2015
|
|
Deferred leasing costs
|
$
|
230,718
|
|
$
|
239,690
|
|
Deferred financing costs - revolving credit facility (a)
|
|
5,359
|
|
|
5,394
|
|
|
|
236,077
|
|
|
245,084
|
|
Accumulated amortization
|
|
(107,982)
|
|
|
(118,014)
|
|
Deferred charges, net
|
|
128,095
|
|
|
127,070
|
|
Notes receivable (b)
|
|
13,313
|
|
|
13,496
|
|
In-place lease values, related intangibles and other assets, net
|
|
77,656
|
|
|
10,931
|
|
Goodwill (c)
|
|
2,945
|
|
|
2,945
|
|
Prepaid expenses and other assets, net (d)
|
|
81,645
|
|
|
49,408
|
|
|
|
|
|
|
|
|
Total deferred charges, goodwill and other assets, net
|
$
|
303,654
|
|
$
|
203,850
|
(a)Pursuant to recently issued accounting standards, deferred financing costs related to all other debt liabilities (other than for the revolving credit facility) are classified to net against those debt liabilities for all periods presented. See Note 2: Significant Accounting Policies – Deferred Financing Costs.
(b)Includes as of September 30, 2016: a mortgage receivable for $10.4 million which bears interest at LIBOR plus six percent and matures in August 2017; and an interest-free note receivable with a net present value of $2.9 million and matures in April 2023. The Company believes these balances are fully collectible.
(c)All goodwill is attributable to the Company’s Multi-family Services segment.
(d)Includes as of September 30, 2016, $39.0 million of proceeds from property sales held by a qualified intermediary.
|
| Schedule Of Fair Value Of The Derivative Financial Instruments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value
|
|
|
|
|
|
Liability Derivatives designated
|
|
|
September 30,
|
|
|
December 31,
|
|
|
|
|
|
as hedging instruments
|
|
|
2016
|
|
|
2015
|
|
|
Balance sheet location
|
|
|
Interest rate swaps
|
|
$
|
7,528
|
|
$
|
-
|
|
|
Accounts payable, accrued expenses and other liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset Derivatives not designated
|
|
|
|
|
|
|
|
|
|
|
|
as hedging instruments
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate caps
|
|
$
|
-
|
|
$
|
2
|
|
|
Deferred charges, goodwill and other assets
|
|
|
| Schedule Of Cash Flow Hedging, Derivative Financial Instruments On The Income Statement |
|
|
|
|
|
|
|
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Derivatives in Cash Flow Hedging Relationships
|
|
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)
|
|
Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
|
|
|
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
|
|
Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
|
|
|
Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion, Reclassification for Forecasted Transactions No Longer Probable of Occurring and Amount Excluded from Effectiveness Testing)
|
|
|
|
2016
|
|
|
2015
|
|
|
|
|
2016
|
|
|
2015
|
|
|
|
|
2016
|
|
|
2015
|
|
Three months ended September 30,
|
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|
|
|
|
Interest rate swaps
|
$
|
866
|
|
$
|
-
|
|
Interest expense
|
|
$
|
860
|
|
$
|
-
|
|
Interest and other investment income (loss)
|
|
$
|
1,012
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
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|
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Nine months ended September 30,
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|
|
|
|
|
|
|
Interest rate swaps
|
$
|
(10,128)
|
|
$
|
-
|
|
Interest expense
|
|
$
|
2,600
|
|
$
|
-
|
|
Interest and other investment income (loss)
|
|
$
|
-
|
|
$
|
-
|
|