Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.24.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Lease revenue $ 619,847 $ 580,169 $ 553,668
Other property revenue 4,956 4,229 2,902
Construction contract and other service revenues 60,179 154,632 107,876
Total revenues 684,982 739,030 664,446
Operating expenses      
Property operating expenses 247,385 227,430 213,377
Depreciation and amortization associated with real estate operations 148,950 141,230 137,543
Construction contract and other service expenses 57,416 149,963 104,053
Impairment losses 252,797 0 0
General, administrative, leasing and other expenses 42,769 38,991 40,774
Total operating expenses 749,317 557,614 495,747
Interest expense (71,142) (61,174) (65,398)
Interest and other income, net 12,587 9,070 9,007
Gain on sales of real estate 49,392 19,250 65,590
Loss on early extinguishment of debt 0 (609) (100,626)
(Loss) income from continuing operations before equity in (loss) income of unconsolidated entities and income taxes (73,498) 147,953 77,272
Equity in (loss) income of unconsolidated entities (261) 1,743 1,093
Income tax expense (588) (447) (145)
(Loss) income from continuing operations (74,347) 149,249 78,220
Discontinued operations 0 29,573 3,358
Net (loss) income (74,347) 178,822 81,578
Net loss (income) attributable to noncontrolling interests:      
Common units in CDPLP 1,306 (2,603) (1,012)
Other consolidated entities (428) (3,190) (4,025)
Net (loss) income attributable to common shareholders $ (73,469) $ 173,029 $ 76,541
Basic earnings per common share:      
(Loss) income from continuing operations - basic (in dollars per share) [1] $ (0.67) $ 1.28 $ 0.65
Discontinued operations - basic (in dollars per share) [1] 0 0.26 0.03
Net (loss) income attributable to common shareholders - basic (in dollars per share) [1] (0.67) 1.54 0.68
Diluted earnings per common share:      
(Loss) income from continuing operations - diluted (in dollars per share) [1] (0.67) 1.27 0.65
Discontinued operations - diluted (in dollars per share) [1] 0 0.26 0.03
Net (loss) income attributable to common shareholders - diluted (in dollars per share) [1] $ (0.67) $ 1.53 $ 0.68
[1] Basic and diluted earnings per common share are calculated based on amounts attributable to common shareholders.