XML 90 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Minimum rents $ 221,907    
Minimum rents   $ 207,315 $ 183,025
Tenant recoveries 54,710    
Tenant recoveries   49,993 45,814
Interest income from sales-type leases 2,189 0 0
Total revenues 1,300,539 1,064,537 1,100,120
Expenses:      
Other property operating costs 175,230 133,761 91,729
Rental property real estate taxes 36,861 32,183 29,185
Rental property maintenance costs 17,410 15,813 13,432
Hospitality operating costs 60,226 59,195 56,362
(Recovery of) provision for doubtful accounts (414) 6,078 2,710
Demolition costs 855 17,329 1,923
Development-related marketing costs 23,067 29,249 20,504
General and administrative 156,251 104,625 89,882
Depreciation and amortization 155,798 126,565 132,252
Costs and Expenses 1,184,770 956,791 936,233
Other:      
Gain (loss) on sale or disposal of real estate and other assets, net 22,362 (4) 55,235
Other income (loss), net 12,179 (936) 3,248
Total other 34,541 (940) 58,483
Operating income 150,310 106,806 222,370
Selling profit from sales-type leases 13,537    
Interest income 9,797 8,486 4,043
Interest expense (105,374) (82,028) (64,568)
Gain on extinguishment of debt 4,641 0 (46,410)
Warrant liability loss 0 0 (43,443)
Gain on acquisition of joint venture partner's interest 0 0 23,332
Equity in earnings from real estate and other affiliates 30,629 39,954 25,498
Income before taxes 103,540 73,218 120,822
Provision for income taxes 29,245 15,492 (45,801)
Net income 74,295 57,726 166,623
Net (income) loss attributable to noncontrolling interests (339) (714) 1,781
Net income attributable to common stockholders $ 73,956 $ 57,012 $ 168,404
Basic income per share: (in dollars per share) $ 1.71 $ 1.32 $ 4.07
Diluted income per share: (in dollars per share) $ 1.71 $ 1.32 $ 3.91
Condominium rights and unit sales      
Revenues:      
Revenue $ 448,940 $ 357,720 $ 464,251
Expenses:      
Cost of goods and services sold 369,759 262,562 338,361
Master Planned Communities land sales      
Revenues:      
Revenue 330,146 261,905 248,595
Hospitality revenues      
Revenues:      
Revenue 87,864 82,037 76,020
Builder price participation      
Revenues:      
Revenue 35,681 27,085 22,835
Other land revenues      
Revenues:      
Revenue 23,399 21,314 28,166
Other rental and property revenues      
Revenues:      
Revenue 95,703 57,168 31,414
Master Planned Communities cost of sales      
Expenses:      
Cost of goods and services sold 141,852 124,214 121,116
Master Planned Communities operations      
Expenses:      
Cost of goods and services sold $ 47,875 $ 45,217 $ 38,777