Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Operations

v3.20.4
Consolidated Statements Of Operations - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
REVENUES      
Revenue from leases $ 272,970,000 $ 302,409,000 $ 323,793,000
Total revenues 313,562,000 357,202,000 371,724,000
EXPENSES      
Real estate taxes 45,825,000 44,817,000 45,178,000
Utilities 13,717,000 17,881,000 23,799,000
Operating services 68,313,000 70,409,000 70,849,000
Real estate services expenses 13,555,000 15,918,000 17,919,000
General and administrative 73,641,000 59,805,000 53,869,000
Depreciation and amortization 122,035,000 133,597,000 113,817,000
Property impairments 36,582,000    
Land and other impairments 16,817,000 32,444,000 24,566,000
Total expenses 390,485,000 374,871,000 349,997,000
OTHER (EXPENSE) INCOME      
Interest expense (80,991,000) (90,569,000) (77,594,000)
Interest and other investment income (loss) 43,000 2,412,000 3,220,000
Equity in earnings (loss) of unconsolidated joint ventures (3,832,000) (1,319,000) (127,000)
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 5,481,000 343,102,000 99,436,000
Gain on disposition of developable land 5,787,000 522,000 30,939,000
Gain on sale from unconsolidated joint ventures 35,184,000 903,000  
Gain (loss) from extinguishment of debt, net (272,000) 1,648,000 (8,994,000)
Total other income (expense) (38,600,000) 270,489,000 61,097,000
Net income (loss) from continuing operations (115,523,000) 252,820,000 82,824,000
Discontinued operations:      
Income from discontinued operations 70,724,000 24,366,000 23,577,000
Realized gains (losses) and unrealized losses on disposition of rental property and impairments, net 11,201,000 (133,350,000)  
Total discontinued operations, net 81,925,000 (108,984,000) 23,577,000
Net income (loss) (33,598,000) 143,836,000 106,401,000
Noncontrolling interests in consolidated joint ventures 2,695,000 3,904,000 1,216,000
Noncontrolling interests in Operating Partnership of income from continuing operations 13,279,000 (23,720,000) (7,127,000)
Noncontrolling interests in Operating Partnership in discontinued operations (7,880,000) 10,456,000 (2,400,000)
Redeemable noncontrolling interests (25,883,000) (22,615,000) (13,979,000)
Net income (loss) available to common shareholders $ (51,387,000) $ 111,861,000 $ 84,111,000
Basic earnings per common share:      
Income (loss) from continuing operations $ (1.51) $ 2.04 $ 0.57
Discontinued operations 0.81 (1.09) 0.23
Net income (loss) available to common shareholders (0.70) 0.95 0.80
Diluted earnings per common share:      
Income (loss) from continuing operations (1.51) 2.04 0.57
Discontinued operations 0.81 (1.09) 0.23
Net income (loss) available to common shareholders $ (0.70) $ 0.95 $ 0.80
Basic weighted average shares outstanding 90,648 90,557 90,388
Diluted weighted average shares outstanding 100,260 100,689 100,724
Real Estate Services [Member]      
REVENUES      
Total revenues $ 11,390,000 $ 13,873,000 $ 17,094,000
Parking Income [Member]      
REVENUES      
Total revenues 15,604,000 21,857,000 21,907,000
Hotel [Member]      
REVENUES      
Total revenues 4,287,000 9,841,000  
Other Income [Member]      
REVENUES      
Total revenues 9,311,000 9,222,000 8,930,000
Mack-Cali Realty LP [Member]      
REVENUES      
Revenue from leases 272,970,000 302,409,000 323,793,000
Total revenues 313,562,000 357,202,000 371,724,000
EXPENSES      
Real estate taxes 45,825,000 44,817,000 45,178,000
Utilities 13,717,000 17,881,000 23,799,000
Operating services 68,313,000 70,409,000 70,849,000
Real estate services expenses 13,555,000 15,918,000 17,919,000
General and administrative 73,641,000 59,805,000 53,869,000
Depreciation and amortization 122,035,000 133,597,000 113,817,000
Property impairments 36,582,000    
Land and other impairments 16,817,000 32,444,000 24,566,000
Total expenses 390,485,000 374,871,000 349,997,000
OTHER (EXPENSE) INCOME      
Interest expense (80,991,000) (90,569,000) (77,594,000)
Interest and other investment income (loss) 43,000 2,412,000 3,220,000
Equity in earnings (loss) of unconsolidated joint ventures (3,832,000) (1,319,000) (127,000)
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 5,481,000 343,102,000 99,436,000
Gain on disposition of developable land 5,787,000 522,000 30,939,000
Gain on sale from unconsolidated joint ventures 35,184,000 903,000  
Gain (loss) from extinguishment of debt, net (272,000) 1,648,000 (8,994,000)
Total other income (expense) (38,600,000) 270,489,000 61,097,000
Net income (loss) from continuing operations (115,523,000) 252,820,000 82,824,000
Discontinued operations:      
Income from discontinued operations 70,724,000 24,366,000 23,577,000
Realized gains (losses) and unrealized losses on disposition of rental property and impairments, net 11,201,000 (133,350,000)  
Total discontinued operations, net 81,925,000 (108,984,000) 23,577,000
Net income (loss) (33,598,000) 143,836,000 106,401,000
Noncontrolling interests in consolidated joint ventures 2,695,000 3,904,000 1,216,000
Redeemable noncontrolling interests (25,883,000) (22,615,000) (13,979,000)
Net income (loss) available to common shareholders $ (56,786,000) $ 125,125,000 $ 93,638,000
Basic earnings per common share:      
Income (loss) from continuing operations $ (1.51) $ 2.04 $ 0.57
Discontinued operations 0.81 (1.09) 0.23
Net income (loss) available to common shareholders (0.70) 0.95 0.80
Diluted earnings per common share:      
Income (loss) from continuing operations (1.51) 2.04 0.57
Discontinued operations 0.81 (1.09) 0.23
Net income (loss) available to common shareholders $ (0.70) $ 0.95 $ 0.80
Basic weighted average units outstanding 100,260 100,520 100,634
Diluted weighted average units outstanding 100,260 100,689 100,724
Mack-Cali Realty LP [Member] | Real Estate Services [Member]      
REVENUES      
Total revenues $ 11,390,000 $ 13,873,000 $ 17,094,000
Mack-Cali Realty LP [Member] | Parking Income [Member]      
REVENUES      
Total revenues 15,604,000 21,857,000 21,907,000
Mack-Cali Realty LP [Member] | Hotel [Member]      
REVENUES      
Total revenues 4,287,000 9,841,000  
Mack-Cali Realty LP [Member] | Other Income [Member]      
REVENUES      
Total revenues $ 9,311,000 $ 9,222,000 $ 8,930,000