Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.25.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues      
Lease revenue $ 671,366 $ 619,847 $ 580,169
Other property revenue 6,351 4,956 4,229
Construction contract and other service revenues 75,550 60,179 154,632
Total revenues 753,267 684,982 739,030
Operating expenses      
Property operating expenses 266,001 247,385 227,430
Depreciation and amortization associated with real estate operations 153,640 148,950 141,230
Construction contract and other service expenses 73,265 57,416 149,963
General, administrative, leasing and other expenses 47,038 42,769 38,991
Impairment losses 0 252,797 0
Total operating expenses 539,944 749,317 557,614
Interest expense (82,151) (71,142) (61,174)
Interest and other income, net 12,661 12,587 9,070
Gain on sales of real estate 0 49,392 19,250
Loss on early extinguishment of debt 0 0 (609)
Income (loss) from continuing operations before equity in income (loss) of unconsolidated entities and income taxes 143,833 (73,498) 147,953
Equity in income (loss) of unconsolidated entities 397 (261) 1,743
Income tax expense (288) (588) (447)
Income (loss) from continuing operations 143,942 (74,347) 149,249
Discontinued operations 0 0 29,573
Net income (loss) 143,942 (74,347) 178,822
Net (income) loss attributable to noncontrolling interests:      
Common units in CDPLP (2,694) 1,306 (2,603)
Other consolidated entities (2,319) (428) (3,190)
Net income (loss) attributable to common shareholders $ 138,929 $ (73,469) $ 173,029
Basic earnings per common share:      
Income (loss) from continuing operations - basic (in dollars per share) [1] $ 1.23 $ (0.67) $ 1.28
Discontinued operations - basic (in dollars per share) [1] 0 0 0.26
Net income (loss) attributable to common shareholders - basic (in dollars per share) [1] 1.23 (0.67) 1.54
Diluted earnings per common share:      
Income (loss) from continuing operations - diluted (in dollars per share) [1] 1.23 (0.67) 1.27
Discontinued operations - diluted (in dollars per share) [1] 0 0 0.26
Net income (loss) attributable to common shareholders - diluted (in dollars per share) [1] $ 1.23 $ (0.67) $ 1.53
[1] Basic and diluted earnings per common share are calculated based on amounts attributable to common shareholders.