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CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues:    
Rental revenues $ 142,658,000 $ 144,289,000
Overage rents 4,217,000 3,141,000
Management, leasing, and development services 566,000 1,216,000
Other 12,018,000 11,562,000
Total Revenues 159,459,000 160,208,000
Expenses:    
Maintenance, taxes, utilities, and promotion 38,751,000 38,538,000
Other operating 18,142,000 19,225,000
Management, leasing, and development services 493,000 531,000
General and administrative 8,016,000 8,576,000
Restructuring charges (Note 1) 362,000 625,000
Simon Property Group, Inc. transaction costs (Note 1) 6,385,000  
Costs associated with shareholder activism (Note 1) 0 4,000,000
Interest expense 34,849,000 36,885,000
Depreciation and amortization 51,696,000 44,956,000
Operating Expenses 158,694,000 153,336,000
Nonoperating income, net (Notes 9 and 11) 548,000 8,733,000
Income before income tax expense, equity in income of UJVs, gains on partial dispositions of ownership interests in UJVs, net of tax, and gains on remeasurements of ownership interests in UJVs 1,313,000 15,605,000
Income tax expense (Note 3) (756,000) (539,000)
Equity in income of UJVs (Note 4) 11,284,000 14,672,000
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 11,841,000 29,738,000
Gains on partial dispositions of ownership interests in UJVs (Note 2) 10,914,000  
Gains on remeasurements of ownership interests in UJVs (Note 2) 13,729,000  
Net income 36,484,000 29,738,000
Net income attributable to noncontrolling interests (Note 6) (10,233,000) (8,230,000)
Net income attributable to Taubman Centers, Inc. 26,251,000 21,508,000
Distributions to participating securities of TRG (Note 8) (595,000) (627,000)
Preferred stock dividends (5,784,000) (5,784,000)
Net income attributable to Taubman Centers, Inc. common shareholders 19,872,000 15,097,000
Other comprehensive income (loss) (Note 12):    
Unrealized loss on interest rate instruments (17,919,000) (4,888,000)
Cumulative translation adjustment (18,975,000) 3,318,000
Reclassification adjustment for amounts recognized in net income 768,000 1,423,000
Other comprehensive income (loss) (36,126,000) (2,993,000)
Comprehensive income 358,000 26,745,000
Comprehensive income attributable to noncontrolling interests (588,000) (7,364,000)
Comprehensive (loss) income attributable to Taubman Centers, Inc. $ (230,000) $ 19,381,000
Basic earnings per common share (Note 10) $ 0.32 $ 0.25
Diluted earnings per common share (Note 10) $ 0.32 $ 0.25
Weighted average number of common shares outstanding – basic 61,249,637 61,124,016