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 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES        
Revenue from leases $ 65,849,000 $ 72,538,000 $ 201,091,000 $ 224,947,000
Total revenues 77,650,000 87,390,000 232,357,000 264,261,000
EXPENSES        
Real estate taxes 10,816,000 11,151,000 32,326,000 33,813,000
Utilities 3,598,000 4,402,000 10,564,000 14,605,000
Operating services 18,942,000 18,109,000 50,639,000 52,821,000
Real estate services expenses 3,300,000 3,905,000 10,106,000 12,150,000
General and administrative 28,945,000 12,571,000 62,005,000 42,836,000
Depreciation and amortization 31,670,000 32,605,000 92,807,000 96,110,000
Property impairments 36,582,000   36,582,000  
Land and other impairments 1,292,000 2,589,000 23,401,000 5,088,000
Total expenses 135,145,000 85,332,000 318,430,000 257,423,000
OTHER (EXPENSE) INCOME        
Interest expense (20,265,000) (22,129,000) (61,795,000) (67,817,000)
Interest and other investment income (loss) 3,000 188,000 42,000 1,526,000
Equity in earnings (loss) of unconsolidated joint ventures 1,373,000 (113,000) (281,000) (882,000)
Gain on change of control of interests       13,790,000
Realized gains (losses) and unrealized losses on disposition of rental property, net   (34,666,000) (7,915,000) 233,698,000
Gain on disposition of developable land   296,000 4,813,000 566,000
Gain on sale of investment in unconsolidated joint venture       903,000
Gain from extinguishment of debt, net 0 (98,000) 0 1,801,000
Total other income (expense) (18,889,000) (56,522,000) (65,136,000) 183,585,000
Income (loss) from continuing operations (76,384,000) (54,464,000) (151,209,000) 190,423,000
Discontinued operations:        
Income from discontinued operations 19,491,000 8,506,000 63,213,000 24,686,000
Realized gains (losses) and unrealized losses on disposition of rental property and impairments, net 15,775,000 (10,063,000) (23,900,000) (15,865,000)
Total discontinued operations, net 35,266,000 (1,557,000) 39,313,000 8,821,000
Net income (loss) (41,118,000) (56,021,000) (111,896,000) 199,244,000
Noncontrolling interests in consolidated joint ventures 895,000 405,000 1,900,000 2,500,000
Noncontrolling interests in Operating Partnership of income from continuing operations 7,874,000 6,005,000 16,166,000 (18,191,000)
Noncontrolling interests in Operating Partnership in discontinued operations (3,388,000) 154,000 (3,776,000) (896,000)
Redeemable noncontrolling interests (6,471,000) (6,471,000) (19,413,000) (16,144,000)
Net income (loss) available to common shareholders $ (42,208,000) $ (55,928,000) $ (117,019,000) $ 166,513,000
Basic earnings per common share:        
Income (loss) from continuing operations $ (0.84) $ (0.63) $ (1.76) $ 1.50
Discontinued operations 0.35 (0.02) 0.39 0.09
Net income (loss) available to common shareholders (0.49) (0.65) (1.37) 1.59
Diluted earnings per common share:        
Income (loss) from continuing operations (0.84) (0.63) (1.76) 1.50
Discontinued operations 0.35 (0.02) 0.39 0.09
Net income (loss) available to common shareholders $ (0.49) $ (0.65) $ (1.37) $ 1.59
Basic weighted average shares outstanding 90,671 90,584 90,639 90,539
Diluted weighted average shares outstanding 100,307 100,560 100,235 100,802
Real Estate Services [Member]        
REVENUES        
Total revenues $ 2,876,000 $ 3,411,000 $ 8,624,000 $ 10,783,000
Parking Income [Member]        
REVENUES        
Total revenues 4,033,000 5,716,000 12,332,000 16,097,000
Hotel Income [Member]        
REVENUES        
Total revenues 893,000 3,325,000 3,290,000 5,702,000
Other Income [Member]        
REVENUES        
Total revenues 3,999,000 2,400,000 7,020,000 6,732,000
Mack-Cali Realty LP [Member]        
REVENUES        
Revenue from leases 65,849,000 72,538,000 201,091,000 224,947,000
Total revenues 77,650,000 87,390,000 232,357,000 264,261,000
EXPENSES        
Real estate taxes 10,816,000 11,151,000 32,326,000 33,813,000
Utilities 3,598,000 4,402,000 10,564,000 14,605,000
Operating services 18,942,000 18,109,000 50,639,000 52,821,000
Real estate services expenses 3,300,000 3,905,000 10,106,000 12,150,000
General and administrative 28,945,000 12,571,000 62,005,000 42,836,000
Depreciation and amortization 31,670,000 32,605,000 92,807,000 96,110,000
Property impairments 36,582,000   36,582,000  
Land and other impairments 1,292,000 2,589,000 23,401,000 5,088,000
Total expenses 135,145,000 85,332,000 318,430,000 257,423,000
OTHER (EXPENSE) INCOME        
Interest expense (20,265,000) (22,129,000) (61,795,000) (67,817,000)
Interest and other investment income (loss) 3,000 188,000 42,000 1,526,000
Equity in earnings (loss) of unconsolidated joint ventures 1,373,000 (113,000) (281,000) (882,000)
Gain on change of control of interests       13,790,000
Realized gains (losses) and unrealized losses on disposition of rental property, net   (34,666,000) (7,915,000) 233,698,000
Gain on disposition of developable land   296,000 4,813,000 566,000
Gain on sale of investment in unconsolidated joint venture       903,000
Gain from extinguishment of debt, net   (98,000)   1,801,000
Total other income (expense) (18,889,000) (56,522,000) (65,136,000) 183,585,000
Income (loss) from continuing operations (76,384,000) (54,464,000) (151,209,000) 190,423,000
Discontinued operations:        
Income from discontinued operations 19,491,000 8,506,000 63,213,000 24,686,000
Realized gains (losses) and unrealized losses on disposition of rental property and impairments, net 15,775,000 (10,063,000) (23,900,000) (15,865,000)
Total discontinued operations, net 35,266,000 (1,557,000) 39,313,000 8,821,000
Net income (loss) (41,118,000) (56,021,000) (111,896,000) 199,244,000
Noncontrolling interests in consolidated joint ventures 895,000 405,000 1,900,000 2,500,000
Redeemable noncontrolling interests (6,471,000) (6,471,000) (19,413,000) (16,144,000)
Net income (loss) available to common shareholders $ (46,694,000) $ (62,087,000) $ (129,409,000) $ 185,600,000
Basic earnings per common share:        
Income (loss) from continuing operations $ (0.84) $ (0.63) $ (1.76) $ 1.50
Discontinued operations 0.35 (0.02) 0.39 0.09
Net income (loss) available to common shareholders (0.49) (0.65) (1.37) 1.59
Diluted earnings per common share:        
Income (loss) from continuing operations (0.84) (0.63) (1.76) 1.50
Discontinued operations 0.35 (0.02) 0.39 0.09
Net income (loss) available to common shareholders $ (0.49) $ (0.65) $ (1.37) $ 1.59
Basic weighted average units outstanding 100,307 100,560 100,235 100,607
Diluted weighted average units outstanding 100,307 100,560 100,235 100,802
Mack-Cali Realty LP [Member] | Real Estate Services [Member]        
REVENUES        
Total revenues $ 2,876,000 $ 3,411,000 $ 8,624,000 $ 10,783,000
Mack-Cali Realty LP [Member] | Parking Income [Member]        
REVENUES        
Total revenues 4,033,000 5,716,000 12,332,000 16,097,000
Mack-Cali Realty LP [Member] | Hotel Income [Member]        
REVENUES        
Total revenues 893,000 3,325,000 3,290,000 5,702,000
Mack-Cali Realty LP [Member] | Other Income [Member]        
REVENUES        
Total revenues $ 3,999,000 $ 2,400,000 $ 7,020,000 $ 6,732,000