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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS UNAUDITED - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Minimum rents $ 50,509 $ 45,073 $ 99,912 $ 91,399
Tenant recoveries 12,250 11,642 25,002 23,041
Total revenues 181,005 308,639 342,684 540,401
Expenses:        
Condominium rights and unit cost of sales 28,816 106,195 35,545 166,678
Master Planned Communities cost of sales 26,383 33,376 52,426 59,245
Master Planned Communities operations 10,587 7,307 20,912 16,701
Other property operating costs 25,730 20,291 48,905 38,799
Rental property real estate taxes 7,502 6,550 15,629 14,087
Rental property maintenance costs 3,951 3,608 7,148 6,636
Hospitality operating costs 15,417 14,164 30,984 28,009
Provision for doubtful accounts 1,359 745 2,135 1,280
Demolition costs 6,660 63 13,331 128
Development-related marketing costs 7,188 4,716 13,266 8,921
General and administrative 26,886 22,944 51,150 41,061
Depreciation and amortization 29,087 34,770 57,275 60,294
Total expenses 189,566 254,729 348,706 441,839
Operating (loss) income before other items (8,561) 53,910 (6,022) 98,562
Other:        
Gains on sales of properties 0 0 0 32,215
Other income, net 266 223 266 910
Total other 266 223 266 33,125
Operating (loss) income (8,295) 54,133 (5,756) 131,687
Interest income 2,603 785 4,679 1,407
Interest expense (18,903) (14,448) (35,512) (32,306)
Loss on redemption of senior notes due 2021 0 0 0 (46,410)
Warrant liability loss 0 (30,881) 0 (43,443)
Gain on acquisition of joint venture partner's interest 0 0 0 5,490
Equity in earnings from real estate and other affiliates 16,299 9,834 30,685 18,354
(Loss) income before taxes (8,296) 19,423 (5,904) 34,779
(Benefit) provision for income taxes (2,417) 16,303 (1,859) 26,000
Net (loss) income (5,879) 3,120 (4,045) 8,779
Net loss attributable to noncontrolling interests 791 0 431 0
Net (loss) income attributable to common stockholders $ (5,088) $ 3,120 $ (3,614) $ 8,779
Basic income per share: (in dollars per share) $ (0.12) $ 0.08 $ (0.08) $ 0.22
Diluted income per share: (in dollars per share) $ (0.12) $ 0.07 $ (0.08) $ 0.20
Condominium rights and unit sales        
Revenues:        
Revenue from contract with customer $ 20,885 $ 148,211 $ 31,722 $ 228,356
Master Planned Communities land sales        
Revenues:        
Revenue from contract with customer 52,432 69,144 98,997 122,625
Hospitality revenues        
Revenues:        
Revenue from contract with customer 22,569 19,703 45,630 39,414
Builder price participation        
Revenues:        
Revenue from contract with customer 5,628 4,480 10,709 9,141
Other land revenues        
Revenues:        
Revenue from contract with customer 4,712 4,463 8,843 15,045
Other rental and property revenues        
Revenues:        
Revenue from contract with customer $ 12,020 $ 5,923 $ 21,869 $ 11,380