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CBL & ASSOCIATES LIMITED PARTNERSHIP

SIC 6798 · Real Estate Investment Trusts
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CBL & ASSOCIATES LIMITED PARTNERSHIP

CIK:0000915140|SEC Filings
v3.21.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES:        
Rental revenues $ 145,539 $ 124,081 $ 405,030 $ 405,476
Management, development and leasing fees 1,780 2,104 4,888 5,251
Other 3,056 3,712 10,202 10,955
Total revenues [1] 150,375 129,897 420,120 421,682
EXPENSES:        
Property operating (23,818) (20,396) (65,243) (63,011)
Depreciation and amortization (46,479) (53,477) (142,090) (162,042)
Real estate taxes (13,957) (17,215) (45,618) (53,500)
Maintenance and repairs (9,482) (8,425) (29,047) (25,675)
General and administrative (13,502) (25,497) (37,383) (62,060)
Loss on impairment (63,160) (46) (120,342) (146,964)
Litigation settlement 89 2,480 890 2,480
Other (104)   (391) (400)
Total expenses (170,413) (122,576) (439,224) (511,172)
OTHER INCOME (EXPENSES):        
Interest and other income 510 1,975 2,038 5,263
Interest expense (unrecognized contractual interest expense was $45,344 and $135,162 for the three and nine months ended September 30, 2021, respectively) (19,039) (61,137) (65,468) (160,760)
Gain on extinguishment of debt   15,407   15,407
Gain on deconsolidation     55,131  
Gain (loss) on sales of real estate assets 8,684 (55) 8,492 2,708
Reorganization items (12,008)   (52,014)  
Income tax benefit (provision) 1,234 (546) (222) (17,189)
Equity in losses of unconsolidated affiliates (2,224) (7,389) (9,575) (12,450)
Total other expenses (22,843) (51,745) (61,618) (167,021)
Net loss (42,881) (44,424) (80,722) (256,511)
Net loss attributable to noncontrolling interests in:        
Operating Partnership 1,085 609 2,013 19,100
Other consolidated subsidiaries/Net loss attributable to noncontrolling interests 76 937 1,344 1,631
Net loss attributable to the Company (41,720) (42,878) (77,365) (235,780)
Preferred dividends undeclared   (11,223)   (33,669)
Net loss attributable to common shareholders $ (41,720) $ (54,101) $ (77,365) $ (269,449)
Basic and diluted per share data attributable to common shareholders:        
Net loss attributable to common shareholders $ (0.21) $ (0.28) $ (0.39) $ (1.43)
Weighted-average common and potential dilutive common shares/units outstanding 196,454 193,481 196,474 188,211
CBL & Associates Limited Partnership        
REVENUES:        
Rental revenues $ 145,539 $ 124,081 $ 405,030 $ 405,476
Management, development and leasing fees 1,780 2,104 4,888 5,251
Other 3,056 3,712 10,202 10,955
Total revenues 150,375 129,897 420,120 421,682
EXPENSES:        
Property operating (23,818) (20,396) (65,243) (63,011)
Depreciation and amortization (46,479) (53,477) (142,090) (162,042)
Real estate taxes (13,957) (17,215) (45,618) (53,500)
Maintenance and repairs (9,482) (8,425) (29,047) (25,675)
General and administrative (13,502) (25,497) (37,383) (62,060)
Loss on impairment (63,160) (46) (120,342) (146,964)
Litigation settlement 89 2,480 890 2,480
Other (104)   (391) (400)
Total expenses (170,413) (122,576) (439,224) (511,172)
OTHER INCOME (EXPENSES):        
Interest and other income 510 1,975 2,038 5,263
Interest expense (unrecognized contractual interest expense was $45,344 and $135,162 for the three and nine months ended September 30, 2021, respectively) (19,039) (61,137) (65,468) (160,760)
Gain on extinguishment of debt   15,407   15,407
Gain on deconsolidation     55,131  
Gain (loss) on sales of real estate assets 8,684 (55) 8,492 2,708
Reorganization items (12,008)   (52,014)  
Income tax benefit (provision) 1,234 (546) (222) (17,189)
Equity in losses of unconsolidated affiliates (2,224) (7,389) (9,575) (12,450)
Total other expenses (22,843) (51,745) (61,618) (167,021)
Net loss (42,881) (44,424) (80,722) (256,511)
Net loss attributable to noncontrolling interests in:        
Other consolidated subsidiaries/Net loss attributable to noncontrolling interests 76 937 1,344 1,631
Net loss attributable to the Company (42,805) (43,487) (79,378) (254,880)
Net loss attributable to common shareholders $ (42,805) (54,710) $ (79,378) (288,549)
Distributions to preferred unitholders undeclared   $ (11,223)   $ (33,669)
Basic and diluted per share data attributable to common shareholders:        
Net loss attributable to common shareholders $ (0.21) $ (0.27) $ (0.39) $ (1.43)
Weighted-average common and potential dilutive common shares/units outstanding 201,559 201,690 201,587 201,551
[1] Management, development and leasing fees are included in the All Other category. See Note 4 for information on the Company's revenues disaggregated by revenue source for each of the above segments.