Segment Reporting (Tables)
|
9 Months Ended |
Sep. 30, 2017 |
|---|
| Segment Reporting Information [Line Items] |
|
| 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
|
|
|
Multi-family
|
|
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Services
|
|
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& Other (d)
|
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Company
|
|
Total revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Three months ended:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
$
|
135,301
|
|
$
|
18,078
|
|
$
|
9,353
|
(e)
|
|
$
|
(2,714)
|
|
$
|
160,018
|
|
September 30, 2016
|
|
141,226
|
|
|
8,806
|
|
|
9,842
|
(f)
|
|
|
(2,357)
|
|
|
157,517
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
|
407,833
|
|
|
45,772
|
|
|
28,088
|
(e)
|
|
|
(9,022)
|
|
|
472,671
|
|
September 30, 2016
|
|
411,947
|
|
|
27,011
|
|
|
27,990
|
(f)
|
|
|
(7,281)
|
|
|
459,667
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Total operating and
|
|
|
|
|
|
|
|
|
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|
|
|
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|
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interest expenses (a):
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Three months ended:
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|
|
|
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|
|
|
|
|
|
|
|
September 30, 2017
|
$
|
61,114
|
|
$
|
8,277
|
|
$
|
10,180
|
(g)
|
|
$
|
23,740
|
|
$
|
103,311
|
|
September 30, 2016
|
|
68,533
|
|
|
5,005
|
|
|
9,633
|
(h)
|
|
|
21,269
|
|
|
104,440
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
|
184,284
|
|
|
22,388
|
|
|
29,775
|
(g)
|
|
|
66,047
|
|
|
302,494
|
|
September 30, 2016
|
|
201,914
|
|
|
16,337
|
|
|
29,879
|
(h)
|
|
|
65,789
|
|
|
313,919
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Equity in earnings (loss) of
|
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|
|
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|
|
|
|
|
|
|
|
|
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unconsolidated joint ventures:
|
|
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|
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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, 2017
|
$
|
1,058
|
|
$
|
(3,029)
|
|
$
|
438
|
|
|
$
|
-
|
|
$
|
(1,533)
|
|
September 30, 2016
|
|
22,487
|
|
|
(1,442)
|
|
|
745
|
|
|
|
-
|
|
|
21,790
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
|
1,452
|
|
|
(7,797)
|
|
|
1,463
|
|
|
|
-
|
|
|
(4,882)
|
|
September 30, 2016
|
|
23,569
|
|
|
(4,773)
|
|
|
826
|
|
|
|
-
|
|
|
19,622
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Net operating income (loss) (b):
|
|
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|
|
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|
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|
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Three months ended:
|
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|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
$
|
75,245
|
|
$
|
6,772
|
|
$
|
(389)
|
|
|
$
|
(26,454)
|
|
$
|
55,174
|
|
September 30, 2016
|
|
95,180
|
|
|
2,359
|
|
|
954
|
|
|
|
(23,626)
|
|
|
74,867
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
|
225,001
|
|
|
15,587
|
|
|
(224)
|
|
|
|
(75,069)
|
|
|
165,295
|
|
September 30, 2016
|
|
233,602
|
|
|
5,901
|
|
|
(1,063)
|
|
|
|
(73,070)
|
|
|
165,370
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
$
|
3,125,158
|
|
$
|
1,680,525
|
|
$
|
14,297
|
|
|
$
|
175,539
|
|
$
|
4,995,519
|
|
December 31, 2016
|
|
3,344,396
|
|
|
887,394
|
|
|
17,207
|
|
|
|
47,769
|
|
|
4,296,766
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total long-lived assets (c):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
$
|
2,787,190
|
|
$
|
1,399,901
|
|
$
|
5,229
|
|
|
$
|
(9,001)
|
|
$
|
4,183,319
|
|
December 31, 2016
|
|
2,999,820
|
|
|
618,038
|
|
|
4,609
|
|
|
|
(5,933)
|
|
|
3,616,534
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments in
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
unconsolidated joint ventures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
$
|
14,644
|
|
$
|
222,816
|
|
$
|
812
|
|
|
$
|
168
|
|
$
|
238,440
|
|
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 $4.1 million and $12.0 million of fees and salary reimbursements earned for the three and nine months ended September 30, 2017, from the multi-family real estate segment, which are eliminated in consolidation.
|
|
(f)
|
|
Includes $3.8 million and $10.1 million of fees and salary reimbursements earned for the three and nine months ended September 30, 2016, from the multi-family real estate segment, which are eliminated in consolidation.
|
|
(g)
|
|
Includes $2.3 million and $6.2 million of management fees and salary reimbursement expenses for the three and nine months ended September 30, 2017, from the multi-family real estate segment, which are eliminated in consolidation.
|
|
(h)
|
|
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, 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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|
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|
Three Months Ended
|
|
|
Nine Months Ended
|
|
|
|
September 30,
|
|
|
September 30,
|
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
2016
|
|
Net operating income
|
$
|
55,174
|
|
$
|
74,867
|
|
$
|
165,295
|
|
$
|
165,370
|
|
Add (deduct):
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
(52,375)
|
|
|
(48,117)
|
|
|
(157,768)
|
|
|
(134,639)
|
|
Gain on change of control of interests
|
|
-
|
|
|
-
|
|
|
-
|
|
|
15,347
|
|
Realized gains (losses) and unrealized losses on disposition of
|
|
|
|
|
|
|
|
|
|
|
|
|
rental property, net
|
|
31,336
|
|
|
(17,053)
|
|
|
(2,112)
|
|
|
68,664
|
|
Gain on sale of investment in unconsolidated joint venture
|
|
10,568
|
|
|
-
|
|
|
23,131
|
|
|
5,670
|
|
Gain (loss) from extinguishment of debt, net
|
|
-
|
|
|
(19,302)
|
|
|
(239)
|
|
|
(6,882)
|
|
Net income (loss)
|
|
44,703
|
|
|
(9,605)
|
|
|
28,307
|
|
|
113,530
|
|
Noncontrolling interest in consolidated joint ventures
|
|
447
|
|
|
65
|
|
|
865
|
|
|
460
|
|
Noncontrolling interest in Operating Partnership
|
|
(4,413)
|
|
|
999
|
|
|
(2,412)
|
|
|
(11,947)
|
|
Redeemable noncontrolling interest
|
|
(2,683)
|
|
|
-
|
|
|
(6,157)
|
|
|
-
|
|
Net income (loss) available to common shareholders
|
$
|
38,054
|
|
$
|
(8,541)
|
|
$
|
20,603
|
|
$
|
102,043
|
|
| Mack-Cali Realty LP [Member] |
|
| Segment Reporting Information [Line Items] |
|
| Schedule Of Selected Results Of Operations And Asset Information |
|
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|
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|
|
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|
|
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|
|
|
|
|
|
|
|
Real Estate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial
|
|
|
|
|
|
Multi-family
|
|
|
|
Corporate
|
|
|
Total
|
|
|
|
& Other
|
|
|
Multi-family
|
|
|
Services
|
|
|
|
& Other (d)
|
|
|
Company
|
|
Total revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
$
|
135,301
|
|
$
|
18,078
|
|
$
|
9,353
|
(e)
|
|
$
|
(2,714)
|
|
$
|
160,018
|
|
September 30, 2016
|
|
141,226
|
|
|
8,806
|
|
|
9,842
|
(f)
|
|
|
(2,357)
|
|
|
157,517
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
|
407,833
|
|
|
45,772
|
|
|
28,088
|
(e)
|
|
|
(9,022)
|
|
|
472,671
|
|
September 30, 2016
|
|
411,947
|
|
|
27,011
|
|
|
27,990
|
(f)
|
|
|
(7,281)
|
|
|
459,667
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating and
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
interest expenses (a):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
$
|
61,114
|
|
$
|
8,277
|
|
$
|
10,180
|
(g)
|
|
$
|
23,740
|
|
$
|
103,311
|
|
September 30, 2016
|
|
68,533
|
|
|
5,005
|
|
|
9,633
|
(h)
|
|
|
21,269
|
|
|
104,440
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
|
184,284
|
|
|
22,388
|
|
|
29,775
|
(g)
|
|
|
66,047
|
|
|
302,494
|
|
September 30, 2016
|
|
201,914
|
|
|
16,337
|
|
|
29,879
|
(h)
|
|
|
65,789
|
|
|
313,919
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in earnings (loss) of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
unconsolidated joint ventures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
$
|
1,058
|
|
$
|
(3,029)
|
|
$
|
438
|
|
|
$
|
-
|
|
$
|
(1,533)
|
|
September 30, 2016
|
|
22,487
|
|
|
(1,442)
|
|
|
745
|
|
|
|
-
|
|
|
21,790
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
|
1,452
|
|
|
(7,797)
|
|
|
1,463
|
|
|
|
-
|
|
|
(4,882)
|
|
September 30, 2016
|
|
23,569
|
|
|
(4,773)
|
|
|
826
|
|
|
|
-
|
|
|
19,622
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income (loss) (b):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
$
|
75,245
|
|
$
|
6,772
|
|
$
|
(389)
|
|
|
$
|
(26,454)
|
|
$
|
55,174
|
|
September 30, 2016
|
|
95,180
|
|
|
2,359
|
|
|
954
|
|
|
|
(23,626)
|
|
|
74,867
|
|
Nine months ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
|
225,001
|
|
|
15,587
|
|
|
(224)
|
|
|
|
(75,069)
|
|
|
165,295
|
|
September 30, 2016
|
|
233,602
|
|
|
5,901
|
|
|
(1,063)
|
|
|
|
(73,070)
|
|
|
165,370
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
$
|
3,125,158
|
|
$
|
1,680,525
|
|
$
|
14,297
|
|
|
$
|
175,539
|
|
$
|
4,995,519
|
|
December 31, 2016
|
|
3,344,396
|
|
|
887,394
|
|
|
17,207
|
|
|
|
47,769
|
|
|
4,296,766
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total long-lived assets (c):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
$
|
2,787,190
|
|
$
|
1,399,901
|
|
$
|
5,229
|
|
|
$
|
(9,001)
|
|
$
|
4,183,319
|
|
December 31, 2016
|
|
2,999,820
|
|
|
618,038
|
|
|
4,609
|
|
|
|
(5,933)
|
|
|
3,616,534
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments in
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
unconsolidated joint ventures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017
|
$
|
14,644
|
|
$
|
222,816
|
|
$
|
812
|
|
|
$
|
168
|
|
$
|
238,440
|
|
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 $4.1 million and $12.0 million of fees and salary reimbursements earned for the three and nine months ended September 30, 2017, from the multi-family real estate segment, which are eliminated in consolidation.
|
|
(f)
|
|
Includes $3.8 million and $10.1 million of fees and salary reimbursements earned for the three and nine months ended September 30, 2016, from the multi-family real estate segment, which are eliminated in consolidation.
|
|
(g)
|
|
Includes $2.3 million and $6.2 million of management fees and salary reimbursement expenses for the three and nine months ended September 30, 2017, from the multi-family real estate segment, which are eliminated in consolidation.
|
|
(h)
|
|
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, 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,
|
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
2016
|
|
Net operating income
|
$
|
55,174
|
|
$
|
74,867
|
|
$
|
165,295
|
|
$
|
165,370
|
|
Add (deduct):
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
(52,375)
|
|
|
(48,117)
|
|
|
(157,768)
|
|
|
(134,639)
|
|
Gain on change of control of interests
|
|
-
|
|
|
-
|
|
|
-
|
|
|
15,347
|
|
Realized gains (losses) and unrealized losses on disposition of
|
|
|
|
|
|
|
|
|
|
|
|
|
rental property, net
|
|
31,336
|
|
|
(17,053)
|
|
|
(2,112)
|
|
|
68,664
|
|
Gain on sale of investment in unconsolidated joint venture
|
|
10,568
|
|
|
-
|
|
|
23,131
|
|
|
5,670
|
|
Gain (loss) from extinguishment of debt, net
|
|
-
|
|
|
(19,302)
|
|
|
(239)
|
|
|
(6,882)
|
|
Net income (loss)
|
|
44,703
|
|
|
(9,605)
|
|
|
28,307
|
|
|
113,530
|
|
Noncontrolling interest in consolidated joint ventures
|
|
447
|
|
|
65
|
|
|
865
|
|
|
460
|
|
Redeemable noncontrolling interest
|
|
(2,683)
|
|
|
-
|
|
|
(6,157)
|
|
|
-
|
|
Net income (loss) available to common unitholders
|
$
|
42,467
|
|
$
|
(9,540)
|
|
$
|
23,015
|
|
$
|
113,990
|
|