Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.23.3
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Lease revenue $ 155,268 $ 146,481 $ 459,510 $ 430,147
Other property revenue 1,339 1,206 3,731 3,066
Construction contract and other service revenues 11,949 34,813 42,012 130,570
Total revenues 168,556 182,500 505,253 563,783
Operating expenses        
Property operating expenses 61,788 57,663 182,808 168,960
Depreciation and amortization associated with real estate operations 37,620 35,247 112,215 104,323
Construction contract and other service expenses 11,493 33,555 40,249 126,509
Impairment losses 252,797 0 252,797 0
General, administrative, leasing and other expenses 10,576 9,450 31,424 27,833
Total operating expenses 374,274 135,915 619,493 427,625
Interest expense (17,798) (15,123) (50,759) (44,355)
Interest and other income, net 2,529 597 6,928 4,399
Gain on sales of real estate 0 16 49,392 12
Loss on early extinguishment of debt 0 0 0 (342)
(Loss) income from continuing operations before equity in (loss) income of unconsolidated entities and income taxes (220,987) 32,075 (108,679) 95,872
Equity in (loss) income of unconsolidated entities (68) 308 (21) 1,514
Income tax expense (152) (67) (467) (224)
(Loss) income from continuing operations (221,207) 32,316 (109,167) 97,162
Discontinued operations 0 0 0 29,573
Net (loss) income (221,207) 32,316 (109,167) 126,735
Net loss (income) attributable to noncontrolling interests:        
Common units in CDPLP 3,691 (476) 1,882 (1,828)
Other consolidated entities 1,329 (919) 164 (2,357)
Net (loss) income attributable to common shareholders $ (216,187) $ 30,921 $ (107,121) $ 122,550
Basic earnings per common share:        
(Loss) income from continuing operations - basic (in dollars per share) [1] $ (1.94) $ 0.28 $ (0.96) $ 0.83
Discontinued operations - basic (in dollars per share) [1] 0 0 0 0.26
Net (loss) income attributable to common shareholders - basic (in dollars per share) [1] (1.94) 0.28 (0.96) 1.09
Diluted earnings per common share:        
(Loss) income from continuing operations - diluted (in dollars per share) [1] (1.94) 0.27 (0.96) 0.83
Discontinued operations - diluted (in dollars per share) [1] 0 0 0 0.25
Net (loss) income attributable to common shareholders - diluted (in dollars per share) [1] $ (1.94) $ 0.27 $ (0.96) $ 1.08
[1] Basic and diluted earnings per common share are calculated based on amounts attributable to common shareholders.