Segment Reporting (Tables)
|
6 Months Ended |
Jun. 30, 2017 |
|---|
| Segment Reporting Information [Line Items] |
|
| Schedule Of Selected Results Of Operations And Asset Information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial
|
|
|
|
|
|
Multi-family
|
|
|
|
Corporate
|
|
|
Total
|
|
|
|
& Other
|
|
|
Multi-family
|
|
|
Services
|
|
|
|
& Other (d)
|
|
|
Company
|
|
Total revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
139,319
|
|
$
|
17,299
|
|
$
|
9,484
|
(e)
|
|
$
|
(3,336)
|
|
$
|
162,766
|
|
June 30, 2016
|
|
133,768
|
|
|
9,219
|
|
|
9,421
|
(f)
|
|
|
(3,181)
|
|
|
149,227
|
|
Six months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
|
272,531
|
|
|
27,694
|
|
|
18,736
|
(e)
|
|
|
(6,308)
|
|
|
312,653
|
|
June 30, 2016
|
|
270,721
|
|
|
18,205
|
|
|
18,148
|
(f)
|
|
|
(4,924)
|
|
|
302,150
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating and
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
interest expenses (a):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
60,306
|
|
$
|
8,256
|
|
$
|
10,178
|
(g)
|
|
$
|
23,137
|
|
$
|
101,877
|
|
June 30, 2016
|
|
64,368
|
|
|
5,920
|
|
|
9,425
|
(h)
|
|
|
21,473
|
|
|
101,186
|
|
Six months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
|
123,169
|
|
|
14,110
|
|
|
19,595
|
(g)
|
|
|
42,309
|
|
|
199,183
|
|
June 30, 2016
|
|
133,378
|
|
|
11,335
|
|
|
20,245
|
(h)
|
|
|
44,521
|
|
|
209,479
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings (loss) of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
unconsolidated joint ventures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
(18)
|
|
$
|
(3,982)
|
|
$
|
702
|
|
|
$
|
-
|
|
$
|
(3,298)
|
|
June 30, 2016
|
|
1,405
|
|
|
(2,100)
|
|
|
81
|
|
|
|
-
|
|
|
(614)
|
|
Six months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
|
394
|
|
|
(4,768)
|
|
|
1,025
|
|
|
|
-
|
|
|
(3,349)
|
|
June 30, 2016
|
|
1,082
|
|
|
(3,331)
|
|
|
81
|
|
|
|
-
|
|
|
(2,168)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income (loss) (b):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
78,995
|
|
$
|
5,061
|
|
$
|
8
|
|
|
$
|
(26,473)
|
|
$
|
57,591
|
|
June 30, 2016
|
|
70,805
|
|
|
1,199
|
|
|
77
|
|
|
|
(24,654)
|
|
|
47,427
|
|
Six months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
|
149,756
|
|
|
8,816
|
|
|
166
|
|
|
|
(48,617)
|
|
|
110,121
|
|
June 30, 2016
|
|
138,425
|
|
|
3,539
|
|
|
(2,016)
|
|
|
|
(49,445)
|
|
|
90,503
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
3,414,214
|
|
$
|
1,631,796
|
|
$
|
14,431
|
|
|
$
|
16,053
|
|
$
|
5,076,494
|
|
December 31, 2016
|
|
3,344,396
|
|
|
887,394
|
|
|
17,207
|
|
|
|
47,769
|
|
|
4,296,766
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total long-lived assets (c):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
3,009,316
|
|
$
|
1,354,755
|
|
$
|
5,335
|
|
|
$
|
(7,653)
|
|
$
|
4,361,753
|
|
December 31, 2016
|
|
2,999,820
|
|
|
618,038
|
|
|
4,609
|
|
|
|
(5,933)
|
|
|
3,616,534
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments in
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
unconsolidated joint ventures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
85,367
|
|
$
|
227,948
|
|
$
|
1,795
|
|
|
$
|
-
|
|
$
|
315,110
|
|
December 31, 2016
|
|
81,549
|
|
|
237,493
|
|
|
1,005
|
|
|
|
-
|
|
|
320,047
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 $2.2 million and $3.9 million of fees and salary reimbursements earned for the three and six months ended June 30, 2017, from the multi-family real estate segment, which are eliminated in consolidation.
|
|
(f)
|
|
Includes $3.6 million and $6.3 million of fees and salary reimbursements earned for the three and six months ended June 30, 2016, from the multi-family real estate segment, which are eliminated in consolidation.
|
|
(g)
|
|
Includes $4.3 million and $7.9 million of management fees and salary reimbursement expenses for the three and six months ended June 30, 2017, from the multi-family real estate segment, which are eliminated in consolidation.
|
|
(h)
|
|
Includes $1.7 million and $3.1 million of management fees and salary reimbursement expenses for the three and six months ended June 30, 2016, 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
|
|
|
Six Months Ended
|
|
|
|
June 30,
|
|
|
June 30,
|
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
2016
|
|
Net operating income
|
$
|
57,591
|
|
$
|
47,427
|
|
$
|
110,121
|
|
$
|
90,503
|
|
Add (deduct):
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
(57,762)
|
|
|
(43,459)
|
|
|
(105,393)
|
|
|
(86,522)
|
|
Gain on change of control of interests
|
|
-
|
|
|
5,191
|
|
|
-
|
|
|
15,347
|
|
Realized gains (losses) and unrealized losses on disposition of
|
|
|
|
|
|
|
|
|
|
|
|
|
rental property, net
|
|
(38,954)
|
|
|
27,117
|
|
|
(33,448)
|
|
|
85,717
|
|
Gain on sale of investment in unconsolidated joint venture
|
|
-
|
|
|
5,670
|
|
|
12,563
|
|
|
5,670
|
|
Gain (loss) from extinguishment of debt, net
|
|
-
|
|
|
12,420
|
|
|
(239)
|
|
|
12,420
|
|
Net income (loss)
|
|
(39,125)
|
|
|
54,366
|
|
|
(16,396)
|
|
|
123,135
|
|
Noncontrolling interest in consolidated joint ventures
|
|
181
|
|
|
(311)
|
|
|
418
|
|
|
395
|
|
Noncontrolling interest in Operating Partnership
|
|
4,296
|
|
|
(5,662)
|
|
|
2,001
|
|
|
(12,946)
|
|
Redeemable noncontrolling interest
|
|
(2,682)
|
|
|
-
|
|
|
(3,474)
|
|
|
-
|
|
Net income (loss) available to common shareholders
|
$
|
(37,330)
|
|
$
|
48,393
|
|
$
|
(17,451)
|
|
$
|
110,584
|
|
| Mack-Cali Realty LP [Member] |
|
| Segment Reporting Information [Line Items] |
|
| Schedule Of Selected Results Of Operations And Asset Information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial
|
|
|
|
|
|
Multi-family
|
|
|
|
Corporate
|
|
|
Total
|
|
|
|
& Other
|
|
|
Multi-family
|
|
|
Services
|
|
|
|
& Other (d)
|
|
|
Company
|
|
Total revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
139,319
|
|
$
|
17,299
|
|
$
|
9,484
|
(e)
|
|
$
|
(3,336)
|
|
$
|
162,766
|
|
June 30, 2016
|
|
133,768
|
|
|
9,219
|
|
|
9,421
|
(f)
|
|
|
(3,181)
|
|
|
149,227
|
|
Six months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
|
272,531
|
|
|
27,694
|
|
|
18,736
|
(e)
|
|
|
(6,308)
|
|
|
312,653
|
|
June 30, 2016
|
|
270,721
|
|
|
18,205
|
|
|
18,148
|
(f)
|
|
|
(4,924)
|
|
|
302,150
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating and
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
interest expenses (a):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
60,306
|
|
$
|
8,256
|
|
$
|
10,178
|
(g)
|
|
$
|
23,137
|
|
$
|
101,877
|
|
June 30, 2016
|
|
64,368
|
|
|
5,920
|
|
|
9,425
|
(h)
|
|
|
21,473
|
|
|
101,186
|
|
Six months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
|
123,169
|
|
|
14,110
|
|
|
19,595
|
(g)
|
|
|
42,309
|
|
|
199,183
|
|
June 30, 2016
|
|
133,378
|
|
|
11,335
|
|
|
20,245
|
(h)
|
|
|
44,521
|
|
|
209,479
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings (loss) of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
unconsolidated joint ventures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
(18)
|
|
$
|
(3,982)
|
|
$
|
702
|
|
|
$
|
-
|
|
$
|
(3,298)
|
|
June 30, 2016
|
|
1,405
|
|
|
(2,100)
|
|
|
81
|
|
|
|
-
|
|
|
(614)
|
|
Six months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
|
394
|
|
|
(4,768)
|
|
|
1,025
|
|
|
|
-
|
|
|
(3,349)
|
|
June 30, 2016
|
|
1,082
|
|
|
(3,331)
|
|
|
81
|
|
|
|
-
|
|
|
(2,168)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income (loss) (b):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
78,995
|
|
$
|
5,061
|
|
$
|
8
|
|
|
$
|
(26,473)
|
|
$
|
57,591
|
|
June 30, 2016
|
|
70,805
|
|
|
1,199
|
|
|
77
|
|
|
|
(24,654)
|
|
|
47,427
|
|
Six months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
|
149,756
|
|
|
8,816
|
|
|
166
|
|
|
|
(48,617)
|
|
|
110,121
|
|
June 30, 2016
|
|
138,425
|
|
|
3,539
|
|
|
(2,016)
|
|
|
|
(49,445)
|
|
|
90,503
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
3,414,214
|
|
$
|
1,631,796
|
|
$
|
14,431
|
|
|
$
|
16,053
|
|
$
|
5,076,494
|
|
December 31, 2016
|
|
3,344,396
|
|
|
887,394
|
|
|
17,207
|
|
|
|
47,769
|
|
|
4,296,766
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total long-lived assets (c):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
3,009,316
|
|
$
|
1,354,755
|
|
$
|
5,335
|
|
|
$
|
(7,653)
|
|
$
|
4,361,753
|
|
December 31, 2016
|
|
2,999,820
|
|
|
618,038
|
|
|
4,609
|
|
|
|
(5,933)
|
|
|
3,616,534
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments in
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
unconsolidated joint ventures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2017
|
$
|
85,367
|
|
$
|
227,948
|
|
$
|
1,795
|
|
|
$
|
-
|
|
$
|
315,110
|
|
December 31, 2016
|
|
81,549
|
|
|
237,493
|
|
|
1,005
|
|
|
|
-
|
|
|
320,047
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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 $2.2 million and $3.9 million of fees and salary reimbursements earned for the three and six months ended June 30, 2017, from the multi-family real estate segment, which are eliminated in consolidation.
|
|
(f)
|
|
Includes $3.6 million and $6.3 million of fees and salary reimbursements earned for the three and six months ended June 30, 2016, from the multi-family real estate segment, which are eliminated in consolidation.
|
|
(g)
|
|
Includes $4.3 million and $7.9 million of management fees and salary reimbursement expenses for the three and six months ended June 30, 2017, from the multi-family real estate segment, which are eliminated in consolidation.
|
|
(h)
|
|
Includes $1.7 million and $3.1 million of management fees and salary reimbursement expenses for the three and six months ended June 30, 2016, 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
|
|
Six Months Ended
|
|
|
|
June 30,
|
|
|
June 30,
|
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
2016
|
|
Net operating income
|
$
|
57,591
|
|
$
|
47,427
|
|
$
|
110,121
|
|
$
|
90,503
|
|
Add (deduct):
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
(57,762)
|
|
|
(43,459)
|
|
|
(105,393)
|
|
|
(86,522)
|
|
Gain on change of control of interests
|
|
-
|
|
|
5,191
|
|
|
-
|
|
|
15,347
|
|
Realized gains (losses) and unrealized losses on disposition of
|
|
|
|
|
|
|
|
|
|
|
|
|
rental property, net
|
|
(38,954)
|
|
|
27,117
|
|
|
(33,448)
|
|
|
85,717
|
|
Gain on sale of investment in unconsolidated joint venture
|
|
-
|
|
|
5,670
|
|
|
12,563
|
|
|
5,670
|
|
Gain (loss) from extinguishment of debt, net
|
|
-
|
|
|
12,420
|
|
|
(239)
|
|
|
12,420
|
|
Net income (loss)
|
|
(39,125)
|
|
|
54,366
|
|
|
(16,396)
|
|
|
123,135
|
|
Noncontrolling interest in consolidated joint ventures
|
|
181
|
|
|
(311)
|
|
|
418
|
|
|
395
|
|
Redeemable noncontrolling interest
|
|
(2,682)
|
|
|
-
|
|
|
(3,474)
|
|
|
-
|
|
Net income (loss) available to common unitholders
|
$
|
(41,626)
|
|
$
|
54,055
|
|
$
|
(19,452)
|
|
$
|
123,530
|
|