Quarterly report pursuant to Section 13 or 15(d)

Mack-Cali Realty Corporation Stockholders' Equity And Mack-Cali Realty, L.P.'s Partners' Capital (Tables)

v3.19.1
Mack-Cali Realty Corporation Stockholders' Equity And Mack-Cali Realty, L.P.'s Partners' Capital (Tables)
3 Months Ended
Mar. 31, 2019
Stockolders Equity [Line Items]  
Schedule Of General Partner Capital



 

 

 

 

 



Three Months Ended



March 31,



 

2019

 

 

2018

Balance at January 1

$

1,486,658 

 

$

1,476,295 

Net income

 

244,495 

 

 

43,036 

Common stock distributions

 

(18,065)

 

 

(18,027)

Redeemable noncontrolling interests

 

(3,152)

 

 

(2,754)

Change in noncontrolling interests in consolidated joint ventures

 

(1,958)

 

 

 -

Redemption of common units for common stock

 

82 

 

 

3,690 

Redemption of common units

 

(1,665)

 

 

 -

Shares issued under Dividend Reinvestment and Stock Purchase Plan

 

10 

 

 

28 

Directors' deferred compensation plan

 

130 

 

 

125 

Stock Compensation

 

265 

 

 

517 

Cancellation of unvested LTIP units

 

2,819 

 

 

 -

Other comprehensive income (loss)

 

(4,038)

 

 

4,621 

Rebalancing of ownership percent between parent and subsidiaries

 

(1,563)

 

 

560 

Balance at March 31

$

1,704,018 

 

$

1,508,091 



Schedule Of Stock Option Plans



 

 

 

 

 

 

 



 

 

 

 

 

 

 



 

 

 

Weighted

 

 

Aggregate



 

 

 

Average

 

 

Intrinsic



Shares

 

 

Exercise

 

 

Value



Under Options

 

 

Price

 

 

$(000’s)

Outstanding at January 1, 2019

800,000 

 

$

17.31 

 

$

1,824 

Granted, Lapsed or Cancelled

 -

 

 

 -

 

 

 

Outstanding at March 31, 2019 ($17.31)

800,000 

 

$

17.31 

 

$

3,912 

Options exercisable at March 31, 2019

800,000 

 

 

 

 

 

 

Available for grant at March 31, 2019

750,000 

 

 

 

 

 

 







 

 

 

 

 

 

 



 

 

 

Weighted

 

 

Aggregate



 

 

 

Average

 

 

Intrinsic



Shares

 

 

Exercise

 

 

Value



Under Options

 

 

Price

 

 

$(000’s)

Outstanding at January 1, 2018

800,000 

 

$

17.31 

 

$

3,400 

Granted, Lapsed or Cancelled

 -

 

 

 -

 

 

 

Outstanding at March 31, 2018 ($17.31)

800,000 

 

$

17.31 

 

$

 -

Options exercisable at March 31, 2018

666,666 

 

 

 

 

 

 

Available for grant at March 31, 2018

2,102,977 

 

 

 

 

 

 



Schedule Of Weighted Average Assumptions



 

 



 

 



 

 



AO LTIP

 



Units

 

Expected life (in years)

5.5 - 6.0

 

Risk-free interest rate

2.6 

%

Volatility

29.0 

%

Dividend yield

3.5 

%



Schedule Of Restricted Stock Awards



 

 

 

 



 

 

 

 



 

 

 

Weighted-Average



 

 

 

Grant – Date



Shares

 

 

Fair Value

Outstanding at January 1, 2019

67,289 

 

$

22.43 

Vested

(968)

 

 

25.83 

Outstanding at March 31, 2019

66,321 

 

$

22.38 

 





 

 

 

 



 

 

 

Weighted-Average



 

 

 

Grant – Date



Shares

 

 

Fair Value

Outstanding at January 1, 2018

108,318 

 

$

25.49 

Vested

(30,033)

 

 

26.97 

Cancelled

(3,872)

 

 

25.83 

Outstanding at March 31, 2018

74,413 

 

$

24.87 



Schedule Of Reconciliation Of Shares Used In Basic EPS Calculation To Shares Used In Diluted EPS Calculation



 

 

 

 

 



 

Three Months Ended



 

March 31,

Computation of Basic EPS

 

2019

 

 

2018

Net income

$

275,594 

 

$

50,688 

Add (deduct): Noncontrolling interests in consolidated joint ventures

 

1,248 

 

 

30 

Add (deduct): Noncontrolling interests in Operating Partnership

 

(27,680)

 

 

(4,883)

Add (deduct): Redeemable noncontrolling interests

 

(4,667)

 

 

(2,799)

Add (deduct): Redemption value adjustment of redeemable noncontrolling

 

 

 

 

 

              interests attributable to common shareholders

 

(3,152)

 

 

(2,754)

Net income available to common shareholders for basic earnings per share

$

241,343 

 

$

40,282 



 

 

 

 

 

Weighted average common shares

 

90,498 

 

 

90,263 



 

 

 

 

 

Basic EPS:

 

 

 

 

 

Net income available to common shareholders

$

2.67 

 

$

0.45 



 

 

 

 

 





 

 

 

 

 



 

 

 

 

 



 

Three Months Ended



 

March 31,

Computation of Diluted EPS

 

2019

 

 

2018

Net income available to common shareholders for basic earnings per share

$

241,343 

 

$

40,282 

Add (deduct): Noncontrolling interests in Operating Partnership

 

27,680 

 

 

4,883 

Add (deduct): Redemption value adjustment of redeemable noncontrolling

 

 

 

 

 

              interests attributable to the Operating Partnership unitholders

 

(357)

 

 

(313)

Net income available for diluted earnings per share

$

268,666 

 

$

44,852 



 

 

 

 

 

Weighted average common shares

 

100,943 

 

 

100,604 



 

 

 

 

 

Diluted EPS:

 

 

 

 

 

Net income available to common shareholders

$

2.66 

 

$

0.45 



 

 

 

 

 



The following schedule reconciles the weighted average shares used in the basic EPS calculation to the shares used in the diluted EPS calculation (in thousands):





 

 

 

 



 

Three Months Ended



 

March 31,



 

2019

 

2018

Basic EPS shares

 

90,498 

 

90,263 

Add:  Operating Partnership – common and vested LTIP units

 

10,242 

 

10,242 

          Restricted Stock Awards

 

66 

 

35 

          Stock Options

 

137 

 

64 

Diluted EPS Shares

 

100,943 

 

100,604 



Mack-Cali Realty LP [Member]  
Stockolders Equity [Line Items]  
Schedule Of Stock Option Plans



 

 

 

 

 

 

 



 

 

 

 

 

 

 



 

 

 

Weighted

 

 

Aggregate



 

 

 

Average

 

 

Intrinsic



Shares

 

 

Exercise

 

 

Value



Under Options

 

 

Price

 

 

$(000’s)

Outstanding at January 1, 2019

800,000 

 

$

17.31 

 

$

1,824 

Granted, Lapsed or Cancelled

 -

 

 

 -

 

 

 

Outstanding at March 31, 2019 ($17.31)

800,000 

 

$

17.31 

 

$

3,912 

Options exercisable at March 31, 2019

800,000 

 

 

 

 

 

 

Available for grant at March 31, 2019

750,000 

 

 

 

 

 

 







 

 

 

 

 

 

 



 

 

 

Weighted

 

 

Aggregate



 

 

 

Average

 

 

Intrinsic



Shares

 

 

Exercise

 

 

Value



Under Options

 

 

Price

 

 

$(000’s)

Outstanding at January 1, 2018

800,000 

 

$

17.31 

 

$

3,400 

Granted, Lapsed or Cancelled

 -

 

 

 -

 

 

 

Outstanding at March 31, 2018 ($17.31)

800,000 

 

$

17.31 

 

$

 -

Options exercisable at March 31, 2018

666,666 

 

 

 

 

 

 

Available for grant at March 31, 2018

2,102,977 

 

 

 

 

 

 



Schedule Of Weighted Average Assumptions



 

 



 

 



 

 



AO LTIP

 



Units

 

Expected life (in years)

5.5 - 6.0

 

Risk-free interest rate

2.6 

%

Volatility

29.0 

%

Dividend yield

3.5 

%



Schedule Of Restricted Stock Awards



 

 

 

 



 

 

 

 



 

 

 

Weighted-Average



 

 

 

Grant – Date



Shares

 

 

Fair Value

Outstanding at January 1, 2019

67,289 

 

$

22.43 

Vested

(968)

 

 

25.83 

Outstanding at March 31, 2019

66,321 

 

$

22.38 

 





 

 

 

 



 

 

 

Weighted-Average



 

 

 

Grant – Date



Shares

 

 

Fair Value

Outstanding at January 1, 2018

108,318 

 

$

25.49 

Vested

(30,033)

 

 

26.97 

Cancelled

(3,872)

 

 

25.83 

Outstanding at March 31, 2018

74,413 

 

$

24.87 



Schedule Of Reconciliation Of Shares Used In Basic EPS Calculation To Shares Used In Diluted EPS Calculation



 

 

 

 

 

 



 

 

Three Months Ended



 

 

March 31,

Computation of Basic EPU

 

 

2019

 

 

2018

Net income

 

$

275,594 

 

$

50,688 

Add (deduct): Noncontrolling interests in consolidated joint ventures

 

 

1,248 

 

 

30 

Add (deduct): Redeemable noncontrolling interests

 

 

(4,667)

 

 

(2,799)

Add (deduct): Redemption value adjustment of redeemable noncontrolling interests

 

 

(3,509)

 

 

(3,067)

Net income available to common unitholders for basic earnings per unit

 

$

268,666 

 

$

44,852 



 

 

 

 

 

 

Weighted average common units

 

 

100,740 

 

 

100,505 



 

 

 

 

 

 

Basic EPU:

 

 

 

 

 

 

Net income available to common unitholders for basic earnings per unit

 

$

2.67 

 

$

0.45 



 

 

 

 

 

 



 

 

 



 

 

Three Months Ended



 

 

March 31,

Computation of Diluted EPU

 

 

2019

 

 

2018

Net income available to common unitholders for diluted earnings per unit

 

$

268,666 

 

$

44,852 



 

 

 

 

 

 

Weighted average common unit

 

 

100,943 

 

 

100,604 



 

 

 

 

 

 

Diluted EPU:

 

 

 

 

 

 

Net income available to common unitholders

 

$

2.66 

 

$

0.45 



The following schedule reconciles the weighted average units used in the basic EPU calculation to the units used in the diluted EPU calculation (in thousands):







 

 

 

 



 

Three Months Ended



 

March 31,



 

2019

 

2018

Basic EPU units

 

100,740 

 

100,505 

Add:   Restricted Stock Awards

 

66 

 

35 

Add:   Stock Options

 

137 

 

64 

Diluted EPU Units

 

100,943 

 

100,604