Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Operations

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Consolidated Statements Of Operations - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
REVENUES      
Revenue from leases $ 296,142,000 $ 317,783,000 $ 403,635,000
Total revenues 350,935,000 365,714,000 459,030,000
EXPENSES      
Real estate taxes 43,998,000 44,389,000 62,035,000
Utilities 17,881,000 23,799,000 29,493,000
Operating services 69,641,000 70,074,000 77,634,000
Real estate services expenses 15,918,000 17,919,000 23,394,000
Leasing personnel costs 2,261,000    
General and administrative 57,535,000 53,865,000 50,475,000
Depreciation and amortization 132,016,000 112,244,000 142,319,000
Land and other Impairments 32,444,000 24,566,000  
Total expenses 371,694,000 346,856,000 385,350,000
OTHER (EXPENSE) INCOME      
Interest expense (90,569,000) (77,346,000) (84,523,000)
Interest and other investment income (loss) 2,412,000 3,219,000 2,690,000
Equity in earnings (loss) of unconsolidated joint ventures (1,319,000) (127,000) (6,081,000)
Gain on change of control of interests 13,790,000 14,217,000  
Realized gains (losses) and unrealized losses on disposition of rental property, net 345,926,000 99,436,000 2,364,000
Gain (loss) on disposition of developable land 522,000 30,939,000  
Gain on sale of investment in unconsolidated joint venture 903,000   23,131,000
Gain (loss) from extinguishment of debt, net 1,648,000 (8,929,000) (421,000)
Total other income (expense) 273,313,000 61,409,000 (62,840,000)
Income from continuing operations 252,554,000 80,267,000 10,840,000
Discontinued operations:      
Income from discontinued operations 27,456,000 26,134,000 22,878,000
Realized gains (losses) and unrealized losses on disposition of rental property and impairments, net (136,174,000)    
Total discontinued operations, net (108,718,000) 26,134,000 22,878,000
Net income 143,836,000 106,401,000 33,718,000
Noncontrolling interests in consolidated joint ventures 3,904,000 1,216,000 1,018,000
Noncontrolling interests in Operating Partnership of income from continuing operations (23,685,000) (6,866,000) (341,000)
Noncontrolling interests in Operating Partnership in discontinued operations 10,421,000 (2,661,000) (2,370,000)
Redeemable noncontrolling interests (22,615,000) (13,979,000) (8,840,000)
Net income available to common shareholders $ 111,861,000 $ 84,111,000 $ 23,185,000
Basic earnings per common share:      
Income from continuing operations $ 2.03 $ 0.54 $ (0.17)
Discontinued operations (1.08) 0.26 0.23
Net income available to common unitholders 0.95 0.80 0.06
Diluted earnings per common share:      
Income from continuing operations 2.03 0.54 (0.17)
Discontinued operations (1.08) 0.26 0.23
Net income available to common unitholders $ 0.95 $ 0.80 $ 0.06
Basic weighted average shares outstanding 90,557 90,388 90,005
Diluted weighted average shares outstanding 100,689 100,724 100,703
Real Estate Services [Member]      
REVENUES      
Total revenues $ 13,873,000 $ 17,094,000 $ 23,125,000
Parking Income [Member]      
REVENUES      
Total revenues 21,857,000 21,907,000 20,050,000
Hotel Income [Member]      
REVENUES      
Total revenues 9,841,000    
Other Income [Member]      
REVENUES      
Total revenues 9,222,000 8,930,000 12,220,000
Mack-Cali Realty LP [Member]      
REVENUES      
Revenue from leases 296,142,000 317,783,000 403,635,000
Total revenues 350,935,000 365,714,000 459,030,000
EXPENSES      
Real estate taxes 43,998,000 44,389,000 62,035,000
Utilities 17,881,000 23,799,000 29,493,000
Operating services 69,641,000 70,074,000 77,634,000
Real estate services expenses 15,918,000 17,919,000 23,394,000
Leasing personnel costs 2,261,000    
General and administrative 57,535,000 53,865,000 50,475,000
Depreciation and amortization 132,016,000 112,244,000 142,319,000
Land and other Impairments 32,444,000 24,566,000  
Total expenses 371,694,000 346,856,000 385,350,000
OTHER (EXPENSE) INCOME      
Interest expense (90,569,000) (77,346,000) (84,523,000)
Interest and other investment income (loss) 2,412,000 3,219,000 2,690,000
Equity in earnings (loss) of unconsolidated joint ventures (1,319,000) (127,000) (6,081,000)
Gain on change of control of interests 13,790,000 14,217,000  
Realized gains (losses) and unrealized losses on disposition of rental property, net 345,926,000 99,436,000 2,364,000
Gain (loss) on disposition of developable land 522,000 30,939,000  
Gain on sale of investment in unconsolidated joint venture 903,000   23,131,000
Gain (loss) from extinguishment of debt, net 1,648,000 (8,929,000) (421,000)
Total other income (expense) 273,313,000 61,409,000 (62,840,000)
Income from continuing operations 252,554,000 80,267,000  
Discontinued operations:      
Income from discontinued operations 27,456,000 26,134,000 22,878,000
Realized gains (losses) and unrealized losses on disposition of rental property and impairments, net (136,174,000)    
Total discontinued operations, net (108,718,000) 26,134,000 22,878,000
Net income 143,836,000 106,401,000 33,718,000
Noncontrolling interests in consolidated joint ventures 3,904,000 1,216,000 1,018,000
Redeemable noncontrolling interests (22,615,000) (13,979,000) (8,840,000)
Net income available to common shareholders $ 125,125,000 $ 93,638,000 $ 25,896,000
Basic earnings per common share:      
Income from continuing operations $ 2.03 $ 0.54 $ (0.17)
Discontinued operations (1.08) 0.26 0.23
Net income available to common unitholders 0.95 0.80 0.06
Diluted earnings per common share:      
Income from continuing operations 2.03 0.54 (0.17)
Discontinued operations (1.08) 0.26 0.23
Net income available to common unitholders $ 0.95 $ 0.80 $ 0.06
Basic weighted average units outstanding 100,520 100,634 100,410
Diluted weighted average units outstanding 100,689 100,724 100,703
Mack-Cali Realty LP [Member] | Real Estate Services [Member]      
REVENUES      
Total revenues $ 13,873,000 $ 17,094,000 $ 23,125,000
Mack-Cali Realty LP [Member] | Parking Income [Member]      
REVENUES      
Total revenues 21,857,000 21,907,000 20,050,000
Mack-Cali Realty LP [Member] | Hotel Income [Member]      
REVENUES      
Total revenues 9,841,000    
Mack-Cali Realty LP [Member] | Other Income [Member]      
REVENUES      
Total revenues $ 9,222,000 $ 8,930,000 $ 12,220,000