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COUSIN PROP INC   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2018201720162015201420132012201120102009
Period End Date12/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/201212/31/201112/31/201012/31/2009
Rental property revenues461.85446.04249.81196.24164.12194.42114.2194.70101.72128.24
Fee income10.098.638.357.3012.5210.8917.8013.8214.4411.84
Management fees--------------------
Interest and other3.2711.521.050.830.925.434.849.601.122.97
Development income--------------------
Residential lot and outparcel sales----------------2.517.42
Multi-family residential unit sales----------------34.4430.84
Leasing and other fees--------------------
Third party management and leasing revenues------------------21.97
Total Revenues475.21466.19259.21204.37177.56210.74136.85118.13154.23203.28
Third party management and leasing expenses------------------17.88
Property taxes on undeveloped land--------------------
Multi-family residential unit cost of sales----------------27.0225.63
Residential lot and outparcel cost of sales----------------1.945.02
Rental property operating expenses164.68163.8896.9182.5576.9690.5050.3340.8243.4458.00
Depreciation and amortization181.38196.7597.9571.6362.2676.2839.4230.6736.6947.78
Stock appreciation right (credit) expense--------------------
General and administrative expenses22.0427.5225.5916.9219.7822.4623.2124.1728.5226.20
Reimbursed general and administrative expenses--------------------
Acquisition and related costs0.251.6624.520.301.137.480.790.47----
Reimbursed expenses(3.78)(3.53)(3.26)(3.43)(3.65)(5.22)(7.06)(6.21)(6.30)(5.38)
Separation expenses------------(1.99)(0.20)(1.05)(3.26)
Interest expense39.4333.5226.6522.7420.9821.7123.9326.6837.1839.76
Impairment loss--------------96.822.5540.51
Other(0.56)(1.80)(5.89)(1.18)(3.73)(3.69)(5.63)(9.29)(4.35)(13.14)
Loss on extinguishment of debt0.012.26(5.18)--0.00--(0.09)--(9.83)(2.77)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES, MINORITY INTEREST63.1039.79(26.74)5.64(10.94)(16.60)(15.62)(117.18)(44.62)(82.04)
BENEFIT (PROVISION) FOR INCOME TAXES FROM OPERATIONS--------(0.02)(0.02)0.09(0.19)(1.08)4.34
Current tax provision (benefit): Federal----------------0.724.61
Current tax provision (benefit): State----------0.02(0.09)(0.19)0.36(0.05)
Deferred tax provision (benefit): Federal------------------(7.98)
Deferred tax provision (benefit): State------------------(0.91)
Benefit (provision) applicable to discontinued operations and sale of investment property--------------------
Federal income tax (benefit) provision--------------------
State income tax (benefit) provision, net of federal income tax effect--------------------
Other--------------------
Cousins provision (benefit) for state income taxes--------------------
Less provision applicable to gain on sale of investment properties--------------------
Minority interest in income of consolidated subsidiaries--------------------
INCOME FROM UNCONSOLIDATED JOINT VENTURES12.2247.1210.568.3011.2767.3339.26(18.30)9.49(17.64)
GAIN ON SALE OF INVESTMENT PROPERTIES, NET OF APPLICABLE INCOME TAX PROVISION5.44133.0677.1180.3912.5461.294.053.491.95168.64
Impairment loss on investment in unconsolidated joint ventures------------------(51.06)
Income from continuing operations80.77219.9660.9494.3312.89112.0427.61(131.80)(32.10)13.56
Income from discontinued operations----19.1631.8520.763.301.91(0.19)12.853.34
Gain on sale of discontinued operations------(0.55)19.3611.4918.41--7.22--
Gain on sale of investment properties--------------8.52--0.15
Gain on extinguishment of debt------------------12.50
Income Before Extraordinary Income & Accounting Change--------------------
Cumulative effect of change in accounting principle--------------------
Net income (loss)80.77219.9680.10125.6353.01126.8347.92(123.47)(12.03)29.55
Net income attributable to noncontrolling interests1.603.681.000.111.005.072.194.962.542.25
Dividends to preferred stockholders--------2.9610.0112.9112.9112.9112.91
Preferred Share Original Issuance costs--------3.532.660.000.00----
Net income (loss) available to common shareholders79.16216.2879.11125.5245.52109.1032.82(141.33)(27.48)14.39
Income (loss) from continuing operations0.762.080.961.760.082.640.48(5.76)(1.88)(0.08)
Income from discontinued operations----0.280.560.800.400.800.320.800.96
Cumulative effect of change in accounting principle--------------------
Net Earnings Per Share (Basic)0.762.081.242.320.883.041.28(5.44)(1.08)0.88
Income (loss) from continuing operations0.762.080.961.760.082.640.48(5.76)(1.88)(0.08)
Income from discontinued operations----0.280.560.800.400.800.320.800.96
Cumulative effect of change in accounting principle--------------------
Net Earnings Per Share (Diluted)0.762.081.242.320.883.041.28(5.44)(1.08)0.88
WEIGHTED AVERAGE SHARES - BASIC105.08103.9063.4753.9651.0536.0626.0325.9125.3616.37
WEIGHTED AVERAGE SHARES - DILUTED106.87105.8264.0153.9951.1236.1126.0325.9125.3616.37
Funds from operations (FFO)------192.75165.2077.1366.49(76.88)32.78(91.96)