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MACERICH CO   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2021202020192018201720162015201420132012
Period End Date12/31/202112/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/2012
Minimum rents----------616.30759.60633.57578.11447.32
Percentage rents----------20.9025.6924.3523.1621.39
Tenant recoveries----------305.28415.13361.12337.77247.59
Leasing revenue787.55740.32858.87884.00922.15----------
Management Companies26.0223.4640.7143.4843.3939.4626.2533.9840.1941.24
Other33.8722.2427.8832.8828.1259.3361.4752.2350.2439.98
Total Revenues847.44786.03927.46960.35993.661,041.271,288.151,105.251,029.48797.52
Leasing expenses24.8425.1929.6111.6212.42----------
Shopping center and operating expenses295.02257.21271.55277.47295.19307.62379.82353.51329.80251.92
Management Companies’ operating expenses61.0365.5866.8091.9187.7098.3292.3488.4293.4685.61
Depreciation and amortization311.13319.62330.73327.44335.43348.49464.47378.72357.17277.62
REIT general and administrative expenses30.0630.3422.6324.1628.2428.2229.8729.4127.7720.41
Costs related to unsolicited takeover offer------(19.37)----(25.20)------
Interest expense: Related parties(3.72)(135.28)(62.52)6.888.738.9710.5215.1315.0215.39
Interest expense: Other196.40210.83200.77176.08163.05154.70201.43175.56182.23149.01
Gain on sale of assets--------42.45415.35378.2573.44(78.06)28.73
Gain on remeasurement of assets------------22.091,423.1451.21199.96
Equity in income of unconsolidated joint ventures15.69(27.04)48.5171.7785.5556.9445.1660.63167.5879.28
Minority interest in consolidated joint ventures--------------------
Gain on early extinguishment of debt(1.01)--(0.35)----1.711.49(9.55)1.43--
Co-venture expense--------(13.63)(13.38)(11.80)(9.49)(8.86)(6.52)
Pre-Tax Income(52.63)(14.50)116.0597.19177.27555.56519.691,602.66157.33299.01
Income tax expense (benefit)6.95(0.45)1.59(3.60)15.590.72(3.22)(4.27)(1.69)(4.16)
Current--(0.44)0.15(0.41)(0.19)0.18----(0.14)--
Deferred6.95(0.01)1.44(3.19)15.780.553.224.271.834.16
Loss on early extinguishment of debt--------------------
(Loss) gain on remeasurement, sale or write down of assets, net75.74(68.11)(11.91)(31.83)------------
(Loss) gain on remeasurement of assets--(163.30)----------------
Income from continuing operations------------522.911,606.93159.02303.17
Discontinued operations: Income from discontinued operations----------------3.5212.41
Discontinued operations: Gain on sale of assets----------------286.4150.81
Extraordinary loss on early extinguishment of debt--------------------
Cumulative effect of change in accounting principle--------------------
Consolidated net income (loss)16.16(245.46)102.5568.97161.67554.84522.911,606.93448.96366.39
Less: minority interest in Operating Partnership--------------------
Less: adjustment of minority interest due to redemption value--------------------
Less net income attributable to noncontrolling interests1.90(15.26)5.738.9515.5437.8435.35107.8928.8728.96
Net income (loss) attributable to the Company------60.02------------
Less: preferred dividends--------------------
Allocation of earnings to participating securities------1.11------------
Net income (loss) available to common shareholders14.26(230.20)96.8258.91146.13517.00487.561,499.04420.09337.43
Income from continuing operations----------------1.072.07
EPS (Basic) : Income from discontinued operations----------------1.940.44
Extraordinary item--------------------
Cumulative effect of change in accounting principle--------------------
Net Earnings Per Share (Basic)0.07(1.58)0.680.421.023.523.0810.463.012.51
Income from continuing operations----------------1.062.07
EPS (Diluted) : Income from discontinued operations----------------1.940.44
Extraordinary item--------------------
Cumulative effect of change in accounting principle--------------------
Net Earnings Per Share (Diluted)0.07(1.58)0.680.421.023.523.0810.453.002.51
Weighted Average Shares Outstanding (Basic)198.07146.23141.34141.14141.88146.60157.92143.14139.60134.07
Weighted Average Shares Outstanding (Diluted)198.07146.23141.34141.14141.91146.71158.06143.29139.68134.15
Funds from operations (FFO)422.19339.51536.96564.44582.88642.30642.27542.75527.57577.86