XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
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:        
Rental and other property revenues (including $208 and $199 for the three months and $415 and $389 for the six months ended 2018 and 2017, respectively, from related parties) $ 31,607 $ 31,302 $ 62,689 $ 62,837
Expenses:        
Property operating expenses (including $231 and $232 for the three months and $458 and $460 for the six months ended 2018 and 2017, respectively, from related parties) 15,492 15,210 29,947 31,099
Depreciation and amortization 6,522 6,378 12,968 12,681
General and administrative (including $1,187 and $558 for the three months and $2,280 and $1,072 for the six months ended 2018 and 2017, respectively, from related parties) 2,173 1,295 4,365 3,075
Net income fee to related party 53 76 106 136
Advisory fee to related party 2,726 2,501 5,474 4,806
Total operating expenses 26,966 25,460 52,860 51,797
Net operating income 4,641 5,842 9,829 11,040
Other income (expenses):        
Interest income (including $3,486 and $3,070 for the three months and $6,722 and 6,502 for the six months ended 2018 and 2017, respectively, from related parties) 3,544 3,709 7,420 7,130
Other income (expense) 7,482 (104) 9,308 1,338
Mortgage and loan interest (including $327 and $283 for the three months and $645 and $836 for the six months ended 2018 and 2017, respectively, from related parties) (14,175) (15,783) (28,268) (30,973)
Foreign currency transaction gain (loss) 5,889 (3,425) 7,645 (3,748)
Earnings (losses) from unconsolidated joint ventures and investees (9) (10) 2 (18)
Total other income (expenses) 2,731 (15,613) (3,893) (26,271)
Gain (Loss) before gain on land sales, non-controlling interest, and taxes 7,372 (9,771) 5,936 (15,231)
(Loss) gain on land sales (476) 1,335 (31)
Net income (loss) from continuing operations before taxes 7,372 (10,247) 7,271 (15,262)
Net income (loss) from continuing operations 7,372 (10,247) 7,271 (15,262)
Net income (loss) 7,372 (10,247) 7,271 (15,262)
Net (income) attributable to non-controlling interest (126) (163) (258) (282)
Net income (loss) attributable to Transcontinental Realty Investors, Inc. 7,246 (10,410) 7,013 (15,544)
Preferred dividend requirement (224) (224) (446) (446)
Net income (loss) applicable to common shares $ 7,022 $ (10,634) $ 6,567 $ (15,990)
Earnings per share - basic        
Net income (loss) from continuing operations (in dollars per share) $ 0.81 $ (1.22) $ 0.75 $ (1.83)
Earnings per share - diluted        
Net income (loss) from continuing operations (in dollars per share) $ 0.81 $ (1.22) $ 0.75 $ (1.83)
Weighted average common shares used in computing earnings per share (in shares) 8,717,767 8,717,767 8,717,767 8,717,767
Weighted average common shares used in computing diluted earnings per share (in shares) 8,717,767 8,717,767 8,717,767 8,717,767
Amounts attributable to Transcontinental Realty Investors, Inc.        
Net income (loss) from continuing operations $ 7,246 $ (10,410) $ 7,013 $ (15,544)
Net income (loss) applicable to Transcontinental Realty, Investors, Inc. $ 7,246 $ (10,410) $ 7,013 $ (15,544)