Annual report pursuant to Section 13 and 15(d)

Condensed Quarterly Financial Information

v3.6.0.2
Condensed Quarterly Financial Information
12 Months Ended
Dec. 31, 2016
Condensed Quarterly Financial Information

18.CONDENSED QUARTERLY FINANCIAL INFORMATION (unaudited)



Mack-Cali Realty Corporation

The following summarizes the condensed quarterly financial information for the Company: (dollars in thousands)









 

 

 

 

 

 

 

 

 

 

 

Quarter Ended 2016

 

December 31

 

 

September 30

 

 

June 30

 

 

March 31

Total revenues

$

153,731 

 

$

157,517 

 

$

149,227 

 

$

152,923 

Operating and other expenses

 

59,740 

 

 

60,286 

 

 

57,395 

 

 

63,536 

Real estate service salaries

 

6,842 

 

 

6,361 

 

 

6,211 

 

 

6,846 

General and administrative

 

12,968 

 

 

14,007 

 

 

12,755 

 

 

12,249 

Acquisition-related costs

 

26 

 

 

815 

 

 

2,039 

 

 

 -

Depreciation and amortization

 

52,045 

 

 

48,117 

 

 

43,459 

 

 

43,063 

Impairments

 

 -

 

 

 -

 

 

 -

 

 

 -

Total expenses

 

131,621 

 

 

129,586 

 

 

121,859 

 

 

125,694 

Operating Income (loss)

 

22,110 

 

 

27,931 

 

 

27,368 

 

 

27,229 

Interest expense

 

(22,731)

 

 

(24,233)

 

 

(22,932)

 

 

(24,993)

Interest and other investment income

 

875 

 

 

1,262 

 

 

146 

 

 

(669)

Equity in earnings (loss) of unconsolidated

 

 

 

 

 

 

 

 

 

 

 

   joint ventures

 

(834)

 

 

21,790 

 

 

(614)

 

 

(1,554)

Gain on change of control of interests

 

 -

 

 

 -

 

 

5,191 

 

 

10,156 

Realized gains (losses) and unrealized losses on

 

 

 

 

 

 

 

 

 

 

 

   disposition of rental properties, net

 

41,002 

 

 

(17,053)

 

 

27,117 

 

 

58,600 

Gain on sale of investment in unconsolidated joint venture

 

 -

 

 

 -

 

 

5,670 

 

 

 -

Loss from extinguishment of debt, net

 

(23,658)

 

 

(19,302)

 

 

12,420 

 

 

 -

Total other (expense) income

 

(5,346)

 

 

(37,536)

 

 

26,998 

 

 

41,540 

Net income (loss)

 

16,764 

 

 

(9,605)

 

 

54,366 

 

 

68,769 

Noncontrolling interest in consolidated joint ventures

 

191 

 

 

65 

 

 

(311)

 

 

706 

Noncontrolling interest in Operating Partnership

 

(1,774)

 

 

999 

 

 

(5,662)

 

 

(7,284)

Net income (loss) available to common shareholders

$

15,181 

 

$

(8,541)

 

$

48,393 

 

$

62,191 



 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common shareholders

$

0.17 

 

$

(0.10)

 

$

0.54 

 

$

0.69 



 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common shareholders

$

0.17 

 

$

(0.10)

 

$

0.54 

 

$

0.69 



 

 

 

 

 

 

 

 

 

 

 

Dividends declared per common share

$

0.15 

 

$

0.15 

 

$

0.15 

 

$

0.15 











 

 

 

 

 

 

 

 

 

 

 

Quarter Ended 2015

 

December 31

 

 

September 30

 

 

June 30

 

 

March 31

Total revenues

$

146,443 

 

$

146,158 

 

$

148,567 

 

$

153,715 

Operating and other expenses

 

60,846 

 

 

56,850 

 

 

60,653 

 

 

68,255 

Real estate service salaries

 

6,063 

 

 

6,673 

 

 

6,208 

 

 

6,639 

General and administrative

 

12,589 

 

 

13,670 

 

 

11,877 

 

 

11,011 

Acquisition-related costs

 

1,449 

 

 

 -

 

 

111 

 

 

 -

Depreciation and amortization

 

43,136 

 

 

44,099 

 

 

42,365 

 

 

40,802 

Impairments (1)

 

33,743 

 

 

164,176 

 

 

 -

 

 

 -

Total expenses

 

157,826 

 

 

285,468 

 

 

121,214 

 

 

126,707 

Operating Income

 

(11,383)

 

 

(139,310)

 

 

27,353 

 

 

27,008 

Interest expense

 

(24,374)

 

 

(24,689)

 

 

(26,773)

 

 

(27,215)

Interest and other investment income

 

231 

 

 

 

 

291 

 

 

267 

Equity in earnings (loss) of unconsolidated

 

 

 

 

 

 

 

 

 

 

 

   joint ventures

 

(449)

 

 

3,135 

 

 

(2,329)

 

 

(3,529)

Realized gains (losses) and unrealized losses on

 

 

 

 

 

 

 

 

 

 

 

   disposition of rental properties, net

 

 -

 

 

18,718 

 

 

34,399 

 

 

144 

Gain on sale of investment in unconsolidated joint venture

 

 -

 

 

 -

 

 

6,448 

 

 

 -

Total other (expense) income

 

(24,592)

 

 

(2,831)

 

 

12,036 

 

 

(30,333)

Net income (loss)

 

(35,975)

 

 

(142,141)

 

 

39,389 

 

 

(3,325)

Noncontrolling interest in consolidated joint ventures

 

462 

 

 

(281)

 

 

373 

 

 

490 

Noncontrolling interest in Operating Partnership

 

3,795 

 

 

15,530 

 

 

(4,383)

 

 

314 

Net income (loss) available to common shareholders

$

(31,718)

 

$

(126,892)

 

$

35,379 

 

$

(2,521)



 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common shareholders

$

(0.35)

 

$

(1.42)

 

$

0.40 

 

$

(0.03)



 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common shareholders

$

(0.35)

 

$

(1.42)

 

$

0.40 

 

$

(0.03)



 

 

 

 

 

 

 

 

 

 

 

Dividends declared per common share

$

0.15 

 

$

0.15 

 

$

0.15 

 

$

0.15 

 

(1)

Amounts for the year ended December 31, 2015 relate to impairment charges as further described in Note 3: Recent Transactions – Impairments on Properties Held and Used.





Mack-Cali Realty, L.P.

The following summarizes the condensed quarterly financial information for the Company: (dollars in thousands)







 

 

 

 

 

 

 

 

 

 

 

Quarter Ended 2016

 

December 31

 

 

September 30

 

 

June 30

 

 

March 31

Total revenues

$

153,731 

 

$

157,517 

 

$

149,227 

 

$

152,923 

Operating and other expenses

 

59,740 

 

 

60,286 

 

 

57,395 

 

 

63,536 

Real estate service salaries

 

6,842 

 

 

6,361 

 

 

6,211 

 

 

6,846 

General and administrative

 

12,968 

 

 

14,007 

 

 

12,755 

 

 

12,249 

Acquisition-related costs

 

26 

 

 

815 

 

 

2,039 

 

 

 -

Depreciation and amortization

 

52,045 

 

 

48,117 

 

 

43,459 

 

 

43,063 

Impairments

 

 -

 

 

 -

 

 

 -

 

 

 -

Total expenses

 

131,621 

 

 

129,586 

 

 

121,859 

 

 

125,694 

Operating Income (loss)

 

22,110 

 

 

27,931 

 

 

27,368 

 

 

27,229 

Interest expense

 

(22,731)

 

 

(24,233)

 

 

(22,932)

 

 

(24,993)

Interest and other investment income

 

875 

 

 

1,262 

 

 

146 

 

 

(669)

Equity in earnings (loss) of unconsolidated

 

 

 

 

 

 

 

 

 

 

 

  joint ventures

 

(834)

 

 

21,790 

 

 

(614)

 

 

(1,554)

Gain on change of control of interests

 

 -

 

 

 -

 

 

5,191 

 

 

10,156 

Realized gains (losses) and unrealized losses on

 

 

 

 

 

 

 

 

 

 

 

  disposition of rental properties, net

 

41,002 

 

 

(17,053)

 

 

27,117 

 

 

58,600 

Gain on sale of investment in unconsolidated joint venture

 

 -

 

 

 -

 

 

5,670 

 

 

 -

Loss from extinguishment of debt, net

 

(23,658)

 

 

(19,302)

 

 

12,420 

 

 

 -

Total other (expense) income

 

(5,346)

 

 

(37,536)

 

 

26,998 

 

 

41,540 

Net income (loss)

 

16,764 

 

 

(9,605)

 

 

54,366 

 

 

68,769 

Noncontrolling interest in consolidated joint ventures

 

191 

 

 

65 

 

 

(311)

 

 

706 

Net income (loss) available to common unitholders

$

16,955 

 

$

(9,540)

 

$

54,055 

 

$

69,475 



 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common unit:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common unitholders

$

0.17 

 

$

(0.10)

 

$

0.54 

 

$

0.69 



 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common units:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common unitolders

$

0.17 

 

$

(0.10)

 

$

0.54 

 

$

0.69 



 

 

 

 

 

 

 

 

 

 

 

Distributions declared per common unit

$

0.15 

 

$

0.15 

 

$

0.15 

 

$

0.15 









 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

Quarter Ended 2015

 

December 31

 

 

September 30

 

 

June 30

 

 

March 31

Total revenues

$

146,443 

 

$

146,158 

 

$

148,567 

 

$

153,715 

Operating and other expenses

 

60,846 

 

 

56,850 

 

 

60,653 

 

 

68,255 

Real estate service salaries

 

6,063 

 

 

6,673 

 

 

6,208 

 

 

6,639 

General and administrative

 

12,589 

 

 

13,670 

 

 

11,877 

 

 

11,011 

Acquisition-related costs

 

1,449 

 

 

 -

 

 

111 

 

 

 -

Depreciation and amortization

 

43,136 

 

 

44,099 

 

 

42,365 

 

 

40,802 

Impairments (1)

 

33,743 

 

 

164,176 

 

 

 -

 

 

 -

Total expenses

 

157,826 

 

 

285,468 

 

 

121,214 

 

 

126,707 

Operating Income

 

(11,383)

 

 

(139,310)

 

 

27,353 

 

 

27,008 

Interest expense

 

(24,374)

 

 

(24,689)

 

 

(26,773)

 

 

(27,215)

Interest and other investment income

 

231 

 

 

 

 

291 

 

 

267 

Equity in earnings (loss) of unconsolidated

 

 

 

 

 

 

 

 

 

 

 

joint ventures

 

(449)

 

 

3,135 

 

 

(2,329)

 

 

(3,529)

Realized gains (losses) and unrealized losses on

 

 

 

 

 

 

 

 

 

 

 

  disposition of rental properties, net

 

 -

 

 

18,718 

 

 

34,399 

 

 

144 

Gain on sale of investment in unconsolidated joint venture

 

 -

 

 

 -

 

 

6,448 

 

 

 -

Total other (expense) income

 

(24,592)

 

 

(2,831)

 

 

12,036 

 

 

(30,333)

Net income (loss)

 

(35,975)

 

 

(142,141)

 

 

39,389 

 

 

(3,325)

Noncontrolling interest in consolidated joint ventures

 

462 

 

 

(281)

 

 

373 

 

 

490 

Net income (loss) available to common unitholders

$

(35,513)

 

$

(142,422)

 

$

39,762 

 

$

(2,835)



 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common unit:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common unitholders

$

(0.35)

 

$

(1.42)

 

$

0.40 

 

$

(0.03)



 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common unit:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common unitholders

$

(0.35)

 

$

(1.42)

 

$

0.40 

 

$

(0.03)



 

 

 

 

 

 

 

 

 

 

 

Distributions declared per common unit

$

0.15 

 

$

0.15 

 

$

0.15 

 

$

0.15 



(1)Amounts for the year ended December 31, 2015 relate to impairment charges as further described in Note 3: Recent Transactions – Impairments on Properties Held and Used.

Mack-Cali Realty LP [Member]  
Condensed Quarterly Financial Information

18.CONDENSED QUARTERLY FINANCIAL INFORMATION (unaudited)



Mack-Cali Realty Corporation

The following summarizes the condensed quarterly financial information for the Company: (dollars in thousands)









 

 

 

 

 

 

 

 

 

 

 

Quarter Ended 2016

 

December 31

 

 

September 30

 

 

June 30

 

 

March 31

Total revenues

$

153,731 

 

$

157,517 

 

$

149,227 

 

$

152,923 

Operating and other expenses

 

59,740 

 

 

60,286 

 

 

57,395 

 

 

63,536 

Real estate service salaries

 

6,842 

 

 

6,361 

 

 

6,211 

 

 

6,846 

General and administrative

 

12,968 

 

 

14,007 

 

 

12,755 

 

 

12,249 

Acquisition-related costs

 

26 

 

 

815 

 

 

2,039 

 

 

 -

Depreciation and amortization

 

52,045 

 

 

48,117 

 

 

43,459 

 

 

43,063 

Impairments

 

 -

 

 

 -

 

 

 -

 

 

 -

Total expenses

 

131,621 

 

 

129,586 

 

 

121,859 

 

 

125,694 

Operating Income (loss)

 

22,110 

 

 

27,931 

 

 

27,368 

 

 

27,229 

Interest expense

 

(22,731)

 

 

(24,233)

 

 

(22,932)

 

 

(24,993)

Interest and other investment income

 

875 

 

 

1,262 

 

 

146 

 

 

(669)

Equity in earnings (loss) of unconsolidated

 

 

 

 

 

 

 

 

 

 

 

   joint ventures

 

(834)

 

 

21,790 

 

 

(614)

 

 

(1,554)

Gain on change of control of interests

 

 -

 

 

 -

 

 

5,191 

 

 

10,156 

Realized gains (losses) and unrealized losses on

 

 

 

 

 

 

 

 

 

 

 

   disposition of rental properties, net

 

41,002 

 

 

(17,053)

 

 

27,117 

 

 

58,600 

Gain on sale of investment in unconsolidated joint venture

 

 -

 

 

 -

 

 

5,670 

 

 

 -

Loss from extinguishment of debt, net

 

(23,658)

 

 

(19,302)

 

 

12,420 

 

 

 -

Total other (expense) income

 

(5,346)

 

 

(37,536)

 

 

26,998 

 

 

41,540 

Net income (loss)

 

16,764 

 

 

(9,605)

 

 

54,366 

 

 

68,769 

Noncontrolling interest in consolidated joint ventures

 

191 

 

 

65 

 

 

(311)

 

 

706 

Noncontrolling interest in Operating Partnership

 

(1,774)

 

 

999 

 

 

(5,662)

 

 

(7,284)

Net income (loss) available to common shareholders

$

15,181 

 

$

(8,541)

 

$

48,393 

 

$

62,191 



 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common shareholders

$

0.17 

 

$

(0.10)

 

$

0.54 

 

$

0.69 



 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common shareholders

$

0.17 

 

$

(0.10)

 

$

0.54 

 

$

0.69 



 

 

 

 

 

 

 

 

 

 

 

Dividends declared per common share

$

0.15 

 

$

0.15 

 

$

0.15 

 

$

0.15 











 

 

 

 

 

 

 

 

 

 

 

Quarter Ended 2015

 

December 31

 

 

September 30

 

 

June 30

 

 

March 31

Total revenues

$

146,443 

 

$

146,158 

 

$

148,567 

 

$

153,715 

Operating and other expenses

 

60,846 

 

 

56,850 

 

 

60,653 

 

 

68,255 

Real estate service salaries

 

6,063 

 

 

6,673 

 

 

6,208 

 

 

6,639 

General and administrative

 

12,589 

 

 

13,670 

 

 

11,877 

 

 

11,011 

Acquisition-related costs

 

1,449 

 

 

 -

 

 

111 

 

 

 -

Depreciation and amortization

 

43,136 

 

 

44,099 

 

 

42,365 

 

 

40,802 

Impairments (1)

 

33,743 

 

 

164,176 

 

 

 -

 

 

 -

Total expenses

 

157,826 

 

 

285,468 

 

 

121,214 

 

 

126,707 

Operating Income

 

(11,383)

 

 

(139,310)

 

 

27,353 

 

 

27,008 

Interest expense

 

(24,374)

 

 

(24,689)

 

 

(26,773)

 

 

(27,215)

Interest and other investment income

 

231 

 

 

 

 

291 

 

 

267 

Equity in earnings (loss) of unconsolidated

 

 

 

 

 

 

 

 

 

 

 

   joint ventures

 

(449)

 

 

3,135 

 

 

(2,329)

 

 

(3,529)

Realized gains (losses) and unrealized losses on

 

 

 

 

 

 

 

 

 

 

 

   disposition of rental properties, net

 

 -

 

 

18,718 

 

 

34,399 

 

 

144 

Gain on sale of investment in unconsolidated joint venture

 

 -

 

 

 -

 

 

6,448 

 

 

 -

Total other (expense) income

 

(24,592)

 

 

(2,831)

 

 

12,036 

 

 

(30,333)

Net income (loss)

 

(35,975)

 

 

(142,141)

 

 

39,389 

 

 

(3,325)

Noncontrolling interest in consolidated joint ventures

 

462 

 

 

(281)

 

 

373 

 

 

490 

Noncontrolling interest in Operating Partnership

 

3,795 

 

 

15,530 

 

 

(4,383)

 

 

314 

Net income (loss) available to common shareholders

$

(31,718)

 

$

(126,892)

 

$

35,379 

 

$

(2,521)



 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common shareholders

$

(0.35)

 

$

(1.42)

 

$

0.40 

 

$

(0.03)



 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common shareholders

$

(0.35)

 

$

(1.42)

 

$

0.40 

 

$

(0.03)



 

 

 

 

 

 

 

 

 

 

 

Dividends declared per common share

$

0.15 

 

$

0.15 

 

$

0.15 

 

$

0.15 

 

(1)

Amounts for the year ended December 31, 2015 relate to impairment charges as further described in Note 3: Recent Transactions – Impairments on Properties Held and Used.





Mack-Cali Realty, L.P.

The following summarizes the condensed quarterly financial information for the Company: (dollars in thousands)







 

 

 

 

 

 

 

 

 

 

 

Quarter Ended 2016

 

December 31

 

 

September 30

 

 

June 30

 

 

March 31

Total revenues

$

153,731 

 

$

157,517 

 

$

149,227 

 

$

152,923 

Operating and other expenses

 

59,740 

 

 

60,286 

 

 

57,395 

 

 

63,536 

Real estate service salaries

 

6,842 

 

 

6,361 

 

 

6,211 

 

 

6,846 

General and administrative

 

12,968 

 

 

14,007 

 

 

12,755 

 

 

12,249 

Acquisition-related costs

 

26 

 

 

815 

 

 

2,039 

 

 

 -

Depreciation and amortization

 

52,045 

 

 

48,117 

 

 

43,459 

 

 

43,063 

Impairments

 

 -

 

 

 -

 

 

 -

 

 

 -

Total expenses

 

131,621 

 

 

129,586 

 

 

121,859 

 

 

125,694 

Operating Income (loss)

 

22,110 

 

 

27,931 

 

 

27,368 

 

 

27,229 

Interest expense

 

(22,731)

 

 

(24,233)

 

 

(22,932)

 

 

(24,993)

Interest and other investment income

 

875 

 

 

1,262 

 

 

146 

 

 

(669)

Equity in earnings (loss) of unconsolidated

 

 

 

 

 

 

 

 

 

 

 

  joint ventures

 

(834)

 

 

21,790 

 

 

(614)

 

 

(1,554)

Gain on change of control of interests

 

 -

 

 

 -

 

 

5,191 

 

 

10,156 

Realized gains (losses) and unrealized losses on

 

 

 

 

 

 

 

 

 

 

 

  disposition of rental properties, net

 

41,002 

 

 

(17,053)

 

 

27,117 

 

 

58,600 

Gain on sale of investment in unconsolidated joint venture

 

 -

 

 

 -

 

 

5,670 

 

 

 -

Loss from extinguishment of debt, net

 

(23,658)

 

 

(19,302)

 

 

12,420 

 

 

 -

Total other (expense) income

 

(5,346)

 

 

(37,536)

 

 

26,998 

 

 

41,540 

Net income (loss)

 

16,764 

 

 

(9,605)

 

 

54,366 

 

 

68,769 

Noncontrolling interest in consolidated joint ventures

 

191 

 

 

65 

 

 

(311)

 

 

706 

Net income (loss) available to common unitholders

$

16,955 

 

$

(9,540)

 

$

54,055 

 

$

69,475 



 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common unit:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common unitholders

$

0.17 

 

$

(0.10)

 

$

0.54 

 

$

0.69 



 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common units:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common unitolders

$

0.17 

 

$

(0.10)

 

$

0.54 

 

$

0.69 



 

 

 

 

 

 

 

 

 

 

 

Distributions declared per common unit

$

0.15 

 

$

0.15 

 

$

0.15 

 

$

0.15 









 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

Quarter Ended 2015

 

December 31

 

 

September 30

 

 

June 30

 

 

March 31

Total revenues

$

146,443 

 

$

146,158 

 

$

148,567 

 

$

153,715 

Operating and other expenses

 

60,846 

 

 

56,850 

 

 

60,653 

 

 

68,255 

Real estate service salaries

 

6,063 

 

 

6,673 

 

 

6,208 

 

 

6,639 

General and administrative

 

12,589 

 

 

13,670 

 

 

11,877 

 

 

11,011 

Acquisition-related costs

 

1,449 

 

 

 -

 

 

111 

 

 

 -

Depreciation and amortization

 

43,136 

 

 

44,099 

 

 

42,365 

 

 

40,802 

Impairments (1)

 

33,743 

 

 

164,176 

 

 

 -

 

 

 -

Total expenses

 

157,826 

 

 

285,468 

 

 

121,214 

 

 

126,707 

Operating Income

 

(11,383)

 

 

(139,310)

 

 

27,353 

 

 

27,008 

Interest expense

 

(24,374)

 

 

(24,689)

 

 

(26,773)

 

 

(27,215)

Interest and other investment income

 

231 

 

 

 

 

291 

 

 

267 

Equity in earnings (loss) of unconsolidated

 

 

 

 

 

 

 

 

 

 

 

joint ventures

 

(449)

 

 

3,135 

 

 

(2,329)

 

 

(3,529)

Realized gains (losses) and unrealized losses on

 

 

 

 

 

 

 

 

 

 

 

  disposition of rental properties, net

 

 -

 

 

18,718 

 

 

34,399 

 

 

144 

Gain on sale of investment in unconsolidated joint venture

 

 -

 

 

 -

 

 

6,448 

 

 

 -

Total other (expense) income

 

(24,592)

 

 

(2,831)

 

 

12,036 

 

 

(30,333)

Net income (loss)

 

(35,975)

 

 

(142,141)

 

 

39,389 

 

 

(3,325)

Noncontrolling interest in consolidated joint ventures

 

462 

 

 

(281)

 

 

373 

 

 

490 

Net income (loss) available to common unitholders

$

(35,513)

 

$

(142,422)

 

$

39,762 

 

$

(2,835)



 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common unit:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common unitholders

$

(0.35)

 

$

(1.42)

 

$

0.40 

 

$

(0.03)



 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common unit:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) available to common unitholders

$

(0.35)

 

$

(1.42)

 

$

0.40 

 

$

(0.03)



 

 

 

 

 

 

 

 

 

 

 

Distributions declared per common unit

$

0.15 

 

$

0.15 

 

$

0.15 

 

$

0.15 



(1)Amounts for the year ended December 31, 2015 relate to impairment charges as further described in Note 3: Recent Transactions – Impairments on Properties Held and Used.