Segment Reporting (Tables)
|
9 Months Ended |
Sep. 30, 2016 |
|---|
| Schedule Of Selected Results Of Operations And Asset Information |
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Real Estate
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Commercial
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Multi-family
|
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Corporate
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Total
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& Other
|
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Multi-family
|
|
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Services
|
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& Other (d)
|
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Company
|
|
Total revenues:
|
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|
|
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|
|
|
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|
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|
|
|
|
|
|
Three months ended:
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|
|
|
|
|
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|
|
|
|
|
|
|
|
September 30, 2016
|
$
|
141,226
|
|
$
|
8,806
|
|
$
|
9,842
|
(e)
|
|
$
|
(2,357)
|
|
$
|
157,517
|
|
September 30, 2015
|
|
131,910
|
|
|
6,964
|
|
|
8,409
|
(f)
|
|
|
(1,125)
|
|
|
146,158
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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September 30, 2016
|
|
411,947
|
|
|
27,011
|
|
|
27,990
|
(e)
|
|
|
(7,281)
|
|
|
459,667
|
|
September 30, 2015
|
|
406,128
|
|
|
20,541
|
|
|
24,910
|
(f)
|
|
|
(3,139)
|
|
|
448,440
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating and
|
|
|
|
|
|
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|
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interest expenses (a):
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Three months ended:
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|
|
|
|
|
|
|
September 30, 2016
|
$
|
68,533
|
|
$
|
5,005
|
|
$
|
9,633
|
(g)
|
|
$
|
21,269
|
|
$
|
104,440
|
|
September 30, 2015
|
|
59,810
|
|
|
4,233
|
|
|
9,598
|
(h)
|
|
|
28,236
|
|
|
101,877
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
|
201,914
|
|
|
16,337
|
|
|
29,879
|
(g)
|
|
|
65,789
|
|
|
313,919
|
|
September 30, 2015
|
|
199,178
|
|
|
12,775
|
|
|
28,304
|
(h)
|
|
|
79,804
|
|
|
320,061
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Equity in earnings (loss) of
|
|
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|
|
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|
|
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|
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|
|
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|
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unconsolidated joint ventures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
$
|
22,487
|
|
$
|
(1,442)
|
|
$
|
745
|
|
|
$
|
-
|
|
$
|
21,790
|
|
September 30, 2015
|
|
5,181
|
|
|
(2,793)
|
|
|
747
|
|
|
|
-
|
|
|
3,135
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
|
23,569
|
|
|
(4,773)
|
|
|
826
|
|
|
|
-
|
|
|
19,622
|
|
September 30, 2015
|
|
4,611
|
|
|
(8,290)
|
|
|
956
|
|
|
|
-
|
|
|
(2,723)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income (loss) (b):
|
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|
|
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|
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Three months ended:
|
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|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
$
|
95,180
|
|
$
|
2,359
|
|
$
|
954
|
|
|
$
|
(23,626)
|
|
$
|
74,867
|
|
September 30, 2015
|
|
77,281
|
|
|
(62)
|
|
|
(442)
|
|
|
|
(29,361)
|
|
|
47,416
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
|
233,602
|
|
|
5,901
|
|
|
(1,063)
|
|
|
|
(73,070)
|
|
|
165,370
|
|
September 30, 2015
|
|
211,561
|
|
|
(524)
|
|
|
(2,438)
|
|
|
|
(82,943)
|
|
|
125,656
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
$
|
3,394,462
|
|
$
|
963,569
|
|
$
|
15,441
|
|
|
$
|
62,147
|
|
$
|
4,435,619
|
|
December 31, 2015
|
|
3,166,577
|
|
|
836,020
|
|
|
9,831
|
|
|
|
41,535
|
|
|
4,053,963
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total long-lived assets (c):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
$
|
3,061,298
|
|
$
|
667,602
|
|
$
|
4,371
|
|
|
$
|
(4,455)
|
|
$
|
3,728,816
|
|
December 31, 2015
|
|
2,886,583
|
|
|
577,705
|
|
|
3,670
|
|
|
|
(1,531)
|
|
|
3,466,427
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments in
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
unconsolidated joint ventures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
$
|
80,735
|
|
$
|
238,261
|
|
$
|
811
|
|
|
$
|
-
|
|
$
|
319,807
|
|
December 31, 2015
|
|
76,140
|
|
|
225,850
|
|
|
1,467
|
|
|
|
-
|
|
|
303,457
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)Total operating and interest expenses represent the sum of: real estate taxes; utilities; operating services; direct construction costs; real estate services expenses; general and administrative, acquisition related costs and interest expense (net of interest income). All interest expense, net of interest and other investment income, (including for property-level mortgages) is excluded from segment amounts and classified in Corporate & Other for all periods.
(b)Net operating income represents total revenues less total operating and interest expenses (as defined in Note “a”), plus equity in earnings (loss) of unconsolidated joint ventures, for the period.
(c)Long-lived assets are comprised of net investment in rental property, unbilled rents receivable and goodwill.
(d)Corporate & Other represents all corporate-level items (including interest and other investment income, interest expense, non-property general and administrative expense, construction services revenue and direct construction costs) as well as intercompany eliminations necessary to reconcile to consolidated Company totals.
(e)Includes $3.8 million and $10.1 million of fees and salary reimbursements earned for the three and nine months ended September 30, 2016, respectively, from the multi-family real estate segment, which are eliminated in consolidation.
(f)Includes $1.5 million and $5.9 million of fees and salary reimbursements earned for the three and nine months ended September 30, 2015, respectively, from the multi-family real estate segment, which are eliminated in consolidation.
(g)Includes $1.8 million and $4.9 million of management fees and salary reimbursement expenses for the three and nine months ended September 30, 2016, respectively, from the multi-family real estate segment, which are eliminated in consolidation.
(h)Includes $1 million and $4.5 million of management fees and salary reimbursement expenses for the three and nine months ended September 30, 2016, respectively, from the multi-family real estate segment, which are eliminated in consolidation.
|
| Schedule Of Reconciliation Of Net Operating Income To Net Income Available To Common Shareholders |
|
|
|
|
|
|
|
|
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|
|
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|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
September 30,
|
|
|
September 30,
|
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
Net operating income
|
$
|
74,867
|
|
$
|
47,416
|
|
$
|
165,370
|
|
$
|
125,656
|
|
Add (deduct):
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
(48,117)
|
|
|
(44,099)
|
|
|
(134,639)
|
|
|
(127,266)
|
|
Gain on change of control of interests
|
|
-
|
|
|
-
|
|
|
15,347
|
|
|
-
|
|
Realized gains (losses) and unrealized losses on disposition of
|
|
|
|
|
|
|
|
|
|
|
|
|
rental property, net
|
|
(17,053)
|
|
|
18,718
|
|
|
68,664
|
|
|
53,261
|
|
Gain on sale of investment in unconsolidated joint venture
|
|
-
|
|
|
-
|
|
|
5,670
|
|
|
6,448
|
|
Loss from extinguishment of debt, net
|
|
(19,302)
|
|
|
-
|
|
|
(6,882)
|
|
|
-
|
|
Impairments
|
|
-
|
|
|
(164,176)
|
|
|
-
|
|
|
(164,176)
|
|
Net income (loss)
|
|
(9,605)
|
|
|
(142,141)
|
|
|
113,530
|
|
|
(106,077)
|
|
Noncontrolling interest in consolidated joint ventures
|
|
65
|
|
|
(281)
|
|
|
460
|
|
|
582
|
|
Noncontrolling interest in Operating Partnership
|
|
999
|
|
|
15,530
|
|
|
(11,947)
|
|
|
11,461
|
|
Net income (loss) available to common shareholders
|
$
|
(8,541)
|
|
$
|
(126,892)
|
|
$
|
102,043
|
|
$
|
(94,034)
|
|
| Mack Cali Realty LP [Member] |
|
| Schedule Of Selected Results Of Operations And Asset Information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate
|
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|
|
|
|
|
|
|
|
|
|
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|
Commercial
|
|
|
|
|
|
Multi-family
|
|
|
|
Corporate
|
|
|
Total
|
|
|
|
& Other
|
|
|
Multi-family
|
|
|
Services
|
|
|
|
& Other (d)
|
|
|
Company
|
|
Total revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
$
|
141,226
|
|
$
|
8,806
|
|
$
|
9,842
|
(e)
|
|
$
|
(2,357)
|
|
$
|
157,517
|
|
September 30, 2015
|
|
131,910
|
|
|
6,964
|
|
|
8,409
|
(f)
|
|
|
(1,125)
|
|
|
146,158
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
|
411,947
|
|
|
27,011
|
|
|
27,990
|
(e)
|
|
|
(7,281)
|
|
|
459,667
|
|
September 30, 2015
|
|
406,128
|
|
|
20,541
|
|
|
24,910
|
(f)
|
|
|
(3,139)
|
|
|
448,440
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating and
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
interest expenses (a):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
$
|
68,533
|
|
$
|
5,005
|
|
$
|
9,633
|
(g)
|
|
$
|
21,269
|
|
$
|
104,440
|
|
September 30, 2015
|
|
59,810
|
|
|
4,233
|
|
|
9,598
|
(h)
|
|
|
28,236
|
|
|
101,877
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
|
201,914
|
|
|
16,337
|
|
|
29,879
|
(g)
|
|
|
65,789
|
|
|
313,919
|
|
September 30, 2015
|
|
199,178
|
|
|
12,775
|
|
|
28,304
|
(h)
|
|
|
79,804
|
|
|
320,061
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings (loss) of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
unconsolidated joint ventures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
$
|
22,487
|
|
$
|
(1,442)
|
|
$
|
745
|
|
|
$
|
-
|
|
$
|
21,790
|
|
September 30, 2015
|
|
5,181
|
|
|
(2,793)
|
|
|
747
|
|
|
|
-
|
|
|
3,135
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
|
23,569
|
|
|
(4,773)
|
|
|
826
|
|
|
|
-
|
|
|
19,622
|
|
September 30, 2015
|
|
4,611
|
|
|
(8,290)
|
|
|
956
|
|
|
|
-
|
|
|
(2,723)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income (loss) (b):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
$
|
95,180
|
|
$
|
2,359
|
|
$
|
954
|
|
|
$
|
(23,626)
|
|
$
|
74,867
|
|
September 30, 2015
|
|
77,281
|
|
|
(62)
|
|
|
(442)
|
|
|
|
(29,361)
|
|
|
47,416
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
|
233,602
|
|
|
5,901
|
|
|
(1,063)
|
|
|
|
(73,070)
|
|
|
165,370
|
|
September 30, 2015
|
|
211,561
|
|
|
(524)
|
|
|
(2,438)
|
|
|
|
(82,943)
|
|
|
125,656
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
$
|
3,394,462
|
|
$
|
963,569
|
|
$
|
15,441
|
|
|
$
|
62,147
|
|
$
|
4,435,619
|
|
December 31, 2015
|
|
3,166,577
|
|
|
836,020
|
|
|
9,831
|
|
|
|
41,535
|
|
|
4,053,963
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total long-lived assets (c):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
$
|
3,061,298
|
|
$
|
667,602
|
|
$
|
4,371
|
|
|
$
|
(4,455)
|
|
$
|
3,728,816
|
|
December 31, 2015
|
|
2,886,583
|
|
|
577,705
|
|
|
3,670
|
|
|
|
(1,531)
|
|
|
3,466,427
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments in
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
unconsolidated joint ventures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2016
|
$
|
80,735
|
|
$
|
238,261
|
|
$
|
811
|
|
|
$
|
-
|
|
$
|
319,807
|
|
December 31, 2015
|
|
76,140
|
|
|
225,850
|
|
|
1,467
|
|
|
|
-
|
|
|
303,457
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)Total operating and interest expenses represent the sum of: real estate taxes; utilities; operating services; direct construction costs; real estate services expenses; general and administrative, acquisition related costs and interest expense (net of interest income). All interest expense, net of interest and other investment income, (including for property-level mortgages) is excluded from segment amounts and classified in Corporate & Other for all periods.
(b)Net operating income represents total revenues less total operating and interest expenses (as defined in Note “a”), plus equity in earnings (loss) of unconsolidated joint ventures, for the period.
(c)Long-lived assets are comprised of net investment in rental property, unbilled rents receivable and goodwill.
(d)Corporate & Other represents all corporate-level items (including interest and other investment income, interest expense, non-property general and administrative expense, construction services revenue and direct construction costs) as well as intercompany eliminations necessary to reconcile to consolidated Company totals.
(e)Includes $3.8 million and $10.1 million of fees and salary reimbursements earned for the three and nine months ended September 30, 2016, respectively, from the multi-family real estate segment, which are eliminated in consolidation.
(f)Includes $1.5 million and $5.9 million of fees and salary reimbursements earned for the three and nine months ended September 30, 2015, respectively, from the multi-family real estate segment, which are eliminated in consolidation.
(g)Includes $1.8 million and $4.9 million of management fees and salary reimbursement expenses for the three and nine months ended September 30, 2016, respectively, from the multi-family real estate segment, which are eliminated in consolidation.
(h)Includes $1 million and $4.5 million of management fees and salary reimbursement expenses for the three and nine months ended September 30, 2016, respectively, from the multi-family real estate segment, which are eliminated in consolidation.
|
| Schedule Of Reconciliation Of Net Operating Income To Net Income Available To Common Shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
|
September 30,
|
|
|
September 30,
|
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
Net operating income
|
$
|
74,867
|
|
$
|
47,416
|
|
$
|
165,370
|
|
$
|
125,656
|
|
Add (deduct):
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
(48,117)
|
|
|
(44,099)
|
|
|
(134,639)
|
|
|
(127,266)
|
|
Gain on change of control of interests
|
|
-
|
|
|
-
|
|
|
15,347
|
|
|
-
|
|
Realized gains (losses) and unrealized losses on disposition of
|
|
|
|
|
|
|
|
|
|
|
|
|
rental property, net
|
|
(17,053)
|
|
|
18,718
|
|
|
68,664
|
|
|
53,261
|
|
Gain on sale of investment in unconsolidated joint venture
|
|
-
|
|
|
-
|
|
|
5,670
|
|
|
6,448
|
|
Loss from extinguishment of debt, net
|
|
(19,302)
|
|
|
-
|
|
|
(6,882)
|
|
|
-
|
|
Impairments
|
|
-
|
|
|
(164,176)
|
|
|
-
|
|
|
(164,176)
|
|
Net income (loss)
|
|
(9,605)
|
|
|
(142,141)
|
|
|
113,530
|
|
|
(106,077)
|
|
Noncontrolling interest in consolidated joint ventures
|
|
65
|
|
|
(281)
|
|
|
460
|
|
|
582
|
|
Net income (loss) available to common unitholders
|
$
|
(9,540)
|
|
$
|
(142,422)
|
|
$
|
113,990
|
|
$
|
(105,495)
|
|