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SEC Filings

8-K
FOREST CITY REALTY TRUST, INC. filed this Form 8-K on 10/30/2018
Entire Document
 
Forest City Realty Trust, Inc. and Subsidiaries
Appendix
Summary of Adjusted EBITDA and NOI by Segment - Three and Nine Months Ended September 30, 2018 (in thousands) (continued)

 
Three Months Ended September 30, 2018
Noncontrolling Interest
Office
Apartments
Retail
Total Operations
Development
Corporate
Total
 
(in thousands)
Revenues
 
 
 
 
 
 
 
Rental
$
3,425

$
8,908

$

$
12,333

$
3,312

$

$
15,645

Tenant recoveries
1,977

706


2,683

103


2,786

Service and management fees

2


2

60


62

Other revenues (includes Subsidized Senior Housing)
60

511


571

1,328


1,899

 
5,462

10,127


15,589

4,803


20,392

Expenses
 
 
 
 
 
 
 
Property operating and management
(1,792
)
(3,556
)

(5,348
)
(2,070
)

(7,418
)
Real estate taxes
(862
)
(1,226
)

(2,088
)
(1,261
)

(3,349
)
Ground rent
(81
)
33


(48
)


(48
)
Other expenses (includes Subsidized Senior Housing)




(267
)

(267
)
 
(2,735
)
(4,749
)

(7,484
)
(3,598
)

(11,082
)
Less organizational transformation and termination benefits







Interest and other income





499

499

Adjusted EBITDA attributable to Fully Consolidated Entities
$
2,727

$
5,378

$

$
8,105

$
1,205

$
499

$
9,809

Exclude:
 
 
 
 
 
 
 
Land sales




(792
)

(792
)
Other land development revenues




(357
)

(357
)
Cost of land sales




267


267

Other land development expenses




230


230

Corporate general and administrative expenses







Interest and other income





(499
)
(499
)
Subtotal NOI exclusions
$

$

$

$

$
(652
)
$
(499
)
$
(1,151
)
Net Operating Income attributable to Fully Consolidated Entities
$
2,727

$
5,378

$

$
8,105

$
553

$

$
8,658

NOI exclusions per above
1,151

Depreciation and Amortization
(6,462
)
Interest Expense
(4,994
)
Amortization of mortgage procurement costs
(239
)
Loss on extinguishment of debt

Net gain on disposition of interest in unconsolidated entities

Gains on change in control of interests

Organizational transformation and termination benefits

Earnings (loss) from unconsolidated entities

Earnings (loss) before income taxes
$
(1,886
)
Margin % (based on Adjusted EBITDA)
49.9
%
53.1
%
0.0
 %
52.0
%
25.1
%
0.0
%
48.1
%

41