Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements Of Operations

v3.20.2
Consolidated Statements Of Operations - USD ($)
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES        
Revenue from leases $ 64,792,000 $ 73,018,000 $ 135,242,000 $ 152,409,000
Total revenues 72,650,000 86,605,000 154,707,000 176,871,000
EXPENSES        
Real estate taxes 10,573,000 11,018,000 21,510,000 22,662,000
Utilities 3,113,000 4,091,000 6,966,000 10,203,000
Operating services 15,633,000 17,913,000 31,697,000 34,712,000
Real estate services expenses 3,085,000 3,979,000 6,806,000 8,245,000
General and administrative 17,242,000 16,946,000 33,060,000 30,265,000
Depreciation and amortization 27,341,000 31,971,000 61,137,000 63,505,000
Land and other Impairments 16,846,000 2,499,000 22,109,000 2,499,000
Total expenses 93,833,000 88,417,000 183,285,000 172,091,000
OTHER (EXPENSE) INCOME        
Interest expense (20,612,000) (22,207,000) (41,530,000) (45,688,000)
Interest and other investment income (loss) 7,000 515,000 39,000 1,338,000
Equity in earnings (loss) of unconsolidated joint ventures (946,000) (88,000) (1,654,000) (769,000)
Gain on change of control of interests       13,790,000
Realized gains (losses) and unrealized losses on disposition of rental property, net   255,000 (7,915,000) 268,364,000
Gain on disposition of developable land   270,000 4,813,000 270,000
Gain on sale of investment in unconsolidated joint venture       903,000
Gain from extinguishment of debt, net 0 588,000 0 1,899,000
Total other income (expense) (21,551,000) (20,667,000) (46,247,000) 240,107,000
Income (loss) from continuing operations (42,734,000) (22,479,000) (74,825,000) 244,887,000
Discontinued operations:        
Income from discontinued operations 21,729,000 7,952,000 43,722,000 16,180,000
Realized gains (losses) and unrealized losses on disposition of rental property and impairments, net (11,929,000) (5,802,000) (39,675,000) (5,802,000)
Total discontinued operations, net 9,800,000 2,150,000 4,047,000 10,378,000
Net income (loss) (32,934,000) (20,329,000) (70,778,000) 255,265,000
Noncontrolling interests in consolidated joint ventures 829,000 847,000 1,005,000 2,095,000
Noncontrolling interests in Operating Partnership income from continuing operations 4,626,000 2,647,000 8,292,000 (24,196,000)
Noncontrolling interests in Operating Partnership in discontinued operations (937,000) (213,000) (388,000) (1,050,000)
Redeemable noncontrolling interests (6,471,000) (5,006,000) (12,942,000) (9,673,000)
Net income (loss) available to common shareholders $ (34,887,000) $ (22,054,000) $ (74,811,000) $ 222,441,000
Basic earnings per common share:        
Income (loss) from continuing operations $ (0.51) $ (0.45) $ (0.92) $ 2.14
Discontinued operations 0.10 0.02 0.04 0.10
Net income (loss) available to common shareholders (0.41) (0.43) (0.88) 2.24
Diluted earnings per common share:        
Income (loss) from continuing operations (0.51) (0.45) (0.92) 2.14
Discontinued operations 0.10 0.02 0.04 0.10
Net income (loss) available to common shareholders $ (0.41) $ (0.43) $ (0.88) $ 2.24
Basic weighted average shares outstanding 90,629 90,533 90,622 90,516
Diluted weighted average shares outstanding 100,213 100,523 100,198 100,825
Real Estate Services [Member]        
REVENUES        
Total revenues $ 2,755,000 $ 3,530,000 $ 5,748,000 $ 7,372,000
Parking Income [Member]        
REVENUES        
Total revenues 3,034,000 5,515,000 8,299,000 10,381,000
Hotel Income [Member]        
REVENUES        
Total revenues 772,000 2,094,000 2,397,000 2,377,000
Other Income [Member]        
REVENUES        
Total revenues 1,297,000 2,448,000 3,021,000 4,332,000
Mack-Cali Realty LP [Member]        
REVENUES        
Revenue from leases 64,792,000 73,018,000 135,242,000 152,409,000
Total revenues 72,650,000 86,605,000 154,707,000 176,871,000
EXPENSES        
Real estate taxes 10,573,000 11,018,000 21,510,000 22,662,000
Utilities 3,113,000 4,091,000 6,966,000 10,203,000
Operating services 15,633,000 17,913,000 31,697,000 34,712,000
Real estate services expenses 3,085,000 3,979,000 6,806,000 8,245,000
General and administrative 17,242,000 16,946,000 33,060,000 30,265,000
Depreciation and amortization 27,341,000 31,971,000 61,137,000 63,505,000
Land and other Impairments 16,846,000 2,499,000 22,109,000 2,499,000
Total expenses 93,833,000 88,417,000 183,285,000 172,091,000
OTHER (EXPENSE) INCOME        
Interest expense (20,612,000) (22,207,000) (41,530,000) (45,688,000)
Interest and other investment income (loss) 7,000 515,000 39,000 1,338,000
Equity in earnings (loss) of unconsolidated joint ventures (946,000) (88,000) (1,654,000) (769,000)
Gain on change of control of interests       13,790,000
Realized gains (losses) and unrealized losses on disposition of rental property, net   255,000 (7,915,000) 268,364,000
Gain on disposition of developable land   270,000 4,813,000 270,000
Gain on sale of investment in unconsolidated joint venture       903,000
Gain from extinguishment of debt, net   588,000   1,899,000
Total other income (expense) (21,551,000) (20,667,000) (46,247,000) 240,107,000
Income (loss) from continuing operations (42,734,000) (22,479,000) (74,825,000) 244,887,000
Discontinued operations:        
Income from discontinued operations 21,729,000 7,952,000 43,722,000 16,180,000
Realized gains (losses) and unrealized losses on disposition of rental property and impairments, net (11,929,000) (5,802,000) (39,675,000) (5,802,000)
Total discontinued operations, net 9,800,000 2,150,000 4,047,000 10,378,000
Net income (loss) (32,934,000) (20,329,000) (70,778,000) 255,265,000
Noncontrolling interests in consolidated joint ventures 829,000 847,000 1,005,000 2,095,000
Redeemable noncontrolling interests (6,471,000) (5,006,000) (12,942,000) (9,673,000)
Net income (loss) available to common shareholders $ (38,576,000) $ (24,488,000) $ (82,715,000) $ 247,687,000
Basic earnings per common share:        
Income (loss) from continuing operations $ (0.51) $ (0.45) $ (0.92) $ 2.14
Discontinued operations 0.10 0.02 0.04 0.10
Net income (loss) available to common shareholders (0.41) (0.43) (0.88) 2.24
Diluted earnings per common share:        
Income (loss) from continuing operations (0.51) (0.45) (0.92) 2.14
Discontinued operations 0.10 0.02 0.04 0.10
Net income (loss) available to common shareholders $ (0.41) $ (0.43) $ (0.88) $ 2.24
Basic weighted average units outstanding 100,213 100,523 100,198 100,631
Diluted weighted average units outstanding 100,213 100,523 100,198 100,825
Mack-Cali Realty LP [Member] | Real Estate Services [Member]        
REVENUES        
Total revenues $ 2,755,000 $ 3,530,000 $ 5,748,000 $ 7,372,000
Mack-Cali Realty LP [Member] | Parking Income [Member]        
REVENUES        
Total revenues 3,034,000 5,515,000 8,299,000 10,381,000
Mack-Cali Realty LP [Member] | Hotel Income [Member]        
REVENUES        
Total revenues 772,000 2,094,000 2,397,000 2,377,000
Mack-Cali Realty LP [Member] | Other Income [Member]        
REVENUES        
Total revenues $ 1,297,000 $ 2,448,000 $ 3,021,000 $ 4,332,000