XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUES        
Rental revenue $ 105,192 $ 96,917 $ 306,395 $ 296,081
Total revenues 268,659 639,549 688,264 1,126,483
EXPENSES        
Operating costs 92,439 85,089 248,626 236,763
Rental property real estate taxes 15,262 12,118 46,259 40,314
Provision for (recovery of) doubtful accounts 1,446 106 (1,000) 2,238
General and administrative 21,410 19,471 65,180 60,874
Depreciation and amortization 55,974 50,015 161,204 147,584
Other 2,225 2,902 8,885 7,985
Total expenses 239,557 484,356 651,678 900,088
OTHER        
Provision for impairment (672,492) 0 (672,492) 0
Gain (loss) on sale or disposal of real estate and other assets, net 16,286 0 21,000 4,009
Other income (loss), net 173 2,004 3,547 2,497
Total other (656,033) 2,004 (647,945) 6,506
Operating income (loss) (626,931) 157,197 (611,359) 232,901
Interest income 7,729 995 16,813 1,273
Interest expense (38,552) (24,373) (110,636) (79,963)
Gain (loss) on extinguishment of debt (48) 0 (48) (645)
Equity in earnings (losses) from unconsolidated ventures (30,886) 7,708 (41,874) 19,528
Income (loss) before income taxes (688,688) 141,527 (747,104) 173,094
Income tax expense (benefit) (144,701) 33,858 (161,349) 41,822
Net income (loss) (543,987) 107,669 (585,755) 131,272
Net (income) loss attributable to noncontrolling interests (46) 427 (166) 510
Net income (loss) attributable to howard hughes holdings Inc., basic (544,033) 108,096 (585,921) 131,782
Net income (loss) attributable to howard hughes holdings Inc., diluted (544,033) 108,096 (585,921) 131,782
Condominium rights and unit sales        
REVENUES        
Revenue from contract with customers 25,962 418,645 46,915 459,681
EXPENSES        
Cost of sales 22,537 295,300 56,390 329,026
Master Planned Communities land sales        
REVENUES        
Revenue from contract with customers 75,378 52,585 177,045 199,032
EXPENSES        
Cost of sales 28,264 19,355 66,134 75,304
Other land, rental, and property revenues        
REVENUES        
Revenue from contract with customers 46,280 52,550 112,146 119,870
Builder price participation        
REVENUES        
Revenue from contract with customers $ 15,847 $ 18,852 $ 45,763 $ 51,819