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SEC Filings

10-Q
FOREST CITY REALTY TRUST, INC. filed this Form 10-Q on 10/30/2018
Entire Document
 
Forest City Realty Trust, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
(Unaudited)

Supplemental Non-Cash Disclosures
The following table summarizes the impact to the applicable balance sheet line items as a result of various non-cash transactions. Non-cash transactions primarily include dispositions of operating properties whereby the nonrecourse mortgage debt is assumed by the buyer or otherwise extinguished at closing, acquisition of properties from the exchange of ownership interests and the related assumption of the non-recourse mortgage debt, exchanges of 2006 Units or senior notes for Class A common stock, changes in consolidation methods of fully consolidated properties due to the occurrence of triggering events including, but not limited to, disposition of a partial interest in rental properties or change in control transactions, change in construction payables and other capital expenditures, notes receivable from the sale of rental properties and capitalization of stock-based compensation granted to employees directly involved with the development and construction of real estate.
 
Nine Months Ended September 30,
 
2018
2017
 
(in thousands)
Non-cash changes to balance sheet - Investing Activities
 
 
Projects under construction and development
$
(3,698
)
$
(51,996
)
Completed rental properties
164,102

(126,810
)
Notes receivable
113,065

2,500

Investments in and advances to affiliates - due to dispositions or change in control
(105,918
)
603

Investments in and advances to affiliates - other activity
4,026

(218
)
Total
$
171,577

$
(175,921
)
Non-cash changes to balance sheet - Financing Activities
 
 
Nonrecourse mortgage debt and notes payable, net
$
117,943

$
(113,651
)
Convertible senior debt, net
(81,115
)
(1
)
Class A common stock
39

59

Additional paid-in capital
84,249

49,335

Noncontrolling interest
(200,041
)
(54,129
)
Total
$
(78,925
)
$
(118,387
)

B. Notes Receivable
The following table summarizes the interest bearing notes receivable:
 
September 30, 2018
December 31, 2017
Maturity Date
Weighted Average Interest Rate
 
(in thousands)
 
 
Stapleton advances
$
165,195

$
128,676

Various
8.52%
The Nets sale

125,100

January 2021(1)
4.50%
Barclays Center sale
92,600

92,600

January 2019
4.50%
QIC (Regional Mall dispositions)
150,000

36,935

April 2019
4.25%
Other
15,942

15,474

Various
4.97%
Total
$
423,737

$
398,785

 
 
(1) Prior to its contractual due date, the owners of the Brooklyn Nets repaid the note receivable, including unpaid accrued interest, in full during the nine months ended September 30, 2018.


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