Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Operations

v3.21.2
Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
REVENUES        
Revenue from leases $ 68,936 $ 66,357 $ 134,707 $ 138,336
Total revenues 81,247 74,197 157,340 157,801
EXPENSES        
Real estate taxes 12,222 10,777 24,053 21,917
Utilities 3,151 3,113 7,243 6,966
Operating services 19,090 15,842 34,540 32,063
Real estate services expenses 3,213 3,085 6,531 6,807
General and administrative 18,067 16,966 32,056 32,784
Dead deal and transaction-related costs 2,745 277 2,745 277
Depreciation and amortization 28,893 27,440 57,066 61,335
Property impairments 6,041   6,041  
Land and other impairments 7,519 16,846 7,932 22,109
Total expenses 100,941 94,346 178,207 184,258
OTHER (EXPENSE) INCOME        
Interest expense (16,554) (20,611) (34,164) (41,529)
Interest and other investment income (loss) 95 7 112 39
Equity in earnings (loss) of unconsolidated joint ventures 349 (946) (1,107) (1,654)
Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net 3,521   3,521 (7,915)
Gain on disposition of developable land 111   111 4,813
Loss from extinguishment of debt, net     (46,735)  
Total other income (expense) (59,213) (21,550) (78,262) (46,246)
Net income (loss) from continuing operations (78,907) (41,699) (99,129) (72,703)
Discontinued operations:        
Income from discontinued operations 2,796 20,694 13,758 41,600
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net 2,080 (11,929) 24,861 (39,675)
Total discontinued operations, net 4,876 8,765 38,619 1,925
Net income (loss) (74,031) (32,934) (60,510) (70,778)
Noncontrolling interests in consolidated joint ventures 1,198 829 2,533 1,005
Noncontrolling interests in Operating Partnership of income from continuing operations 7,669 4,527 9,974 8,089
Noncontrolling interests in Operating Partnership in discontinued operations (444) (838) (3,511) (185)
Redeemable noncontrolling interests (6,471) (6,471) (12,942) (12,942)
Net income (loss) available to common shareholders $ (72,079) $ (34,887) $ (64,456) $ (74,811)
Basic earnings per common share:        
Income (loss) from continuing operations $ (0.86) $ (0.50) $ (1.13) $ (0.90)
Discontinued operations 0.05 0.09 0.38 0.02
Net income (loss) available to common shareholders (0.81) (0.41) (0.75) (0.88)
Diluted earnings per common share:        
Income (loss) from continuing operations (0.86) (0.50) (1.13) (0.90)
Discontinued operations 0.05 0.09 0.38 0.02
Net income (loss) available to common shareholders $ (0.81) $ (0.41) $ (0.75) $ (0.88)
Basic weighted average shares outstanding 90,774 90,629 90,733 90,622
Diluted weighted average shares outstanding 99,873 100,213 99,817 100,198
Real Estate Services [Member]        
REVENUES        
Total revenues $ 2,593 $ 2,755 $ 5,120 $ 5,748
Parking Income [Member]        
REVENUES        
Total revenues 3,484 3,034 6,570 8,299
Hotel Income [Member]        
REVENUES        
Total revenues 2,714 772 3,767 2,397
Other Income [Member]        
REVENUES        
Total revenues 3,520 1,279 7,176 3,021
Mack-Cali Realty LP [Member]        
REVENUES        
Revenue from leases 68,936 66,357 134,707 138,336
Total revenues 81,247 74,197 157,340 157,801
EXPENSES        
Real estate taxes 12,222 10,777 24,053 21,917
Utilities 3,151 3,113 7,243 6,966
Operating services 19,090 15,842 34,540 32,063
Real estate services expenses 3,213 3,085 6,531 6,807
General and administrative 18,067 16,966 32,056 32,784
Dead deal and transaction-related costs 2,745 277 2,745 277
Depreciation and amortization 28,893 27,440 57,066 61,335
Property impairments 6,041   6,041  
Land and other impairments 7,519 16,846 7,932 22,109
Total expenses 100,941 94,346 178,207 184,258
OTHER (EXPENSE) INCOME        
Interest expense (16,554) (20,611) (34,164) (41,529)
Interest and other investment income (loss) 95 7 112 39
Equity in earnings (loss) of unconsolidated joint ventures 349 (946) (1,107) (1,654)
Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net 3,521   3,521 (7,915)
Gain on disposition of developable land 111   111 4,813
Loss from extinguishment of debt, net (46,735)   (46,735)  
Total other income (expense) (59,213) (21,550) (78,262) (46,246)
Net income (loss) from continuing operations (78,907) (41,699) (99,129) (72,703)
Discontinued operations:        
Income from discontinued operations 2,796 20,694 13,758 41,600
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net 2,080 (11,929) 24,861 (39,675)
Total discontinued operations, net 4,876 8,765 38,619 1,925
Net income (loss) (74,031) (32,934) (60,510) (70,778)
Noncontrolling interests in consolidated joint ventures 1,198 829 2,533 1,005
Redeemable noncontrolling interests (6,471) (6,471) (12,942) (12,942)
Net income (loss) available to common shareholders $ (79,304) $ (38,576) $ (70,919) $ (82,715)
Basic earnings per common share:        
Income (loss) from continuing operations $ (0.86) $ (0.50) $ (1.13) $ (0.90)
Discontinued operations 0.05 0.09 0.38 0.02
Net income (loss) available to common shareholders (0.81) (0.41) (0.75) (0.88)
Diluted earnings per common share:        
Income (loss) from continuing operations (0.86) (0.50) (1.13) (0.90)
Discontinued operations 0.05 0.09 0.38 0.02
Net income (loss) available to common shareholders $ (0.81) $ (0.41) $ (0.75) $ (0.88)
Basic weighted average units outstanding 99,873 100,213 99,817 100,198
Diluted weighted average units outstanding 99,873 100,213 99,817 100,198
Mack-Cali Realty LP [Member] | Real Estate Services [Member]        
REVENUES        
Total revenues $ 2,593 $ 2,755 $ 5,120 $ 5,748
Mack-Cali Realty LP [Member] | Parking Income [Member]        
REVENUES        
Total revenues 3,484 3,034 6,570 8,299
Mack-Cali Realty LP [Member] | Hotel Income [Member]        
REVENUES        
Total revenues 2,714 772 3,767 2,397
Mack-Cali Realty LP [Member] | Other Income [Member]        
REVENUES        
Total revenues $ 3,520 $ 1,279 $ 7,176 $ 3,021