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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)

The reconciliations of net earnings (loss) to Adjusted EBITDA by segment are shown in the following tables. All amounts are presented in thousands.
Three Months Ended September 30, 2018
Office
Apartments
Retail
Total Operations
Development
Corporate
Total
Net earnings (loss) attributable to Forest City Realty Trust, Inc.
$
237,920

$
67,436

$
194,047

$
499,403

$
1,889

$
(54,119
)
$
447,173

Depreciation and amortization
32,514

23,285

9,062

64,861

6,008

963

71,832

Interest expense





43,236

43,236

Amortization of mortgage procurement costs





1,520

1,520

Income tax expense





3,347

3,347

Loss on extinguishment of debt





19

19

Gain on disposition of rental properties

(17,820
)

(17,820
)


(17,820
)
Gain on disposition of unconsolidated entities


(181,504
)
(181,504
)


(181,504
)
Gain on change in control of interests
(193,674
)
(25,992
)

(219,666
)


(219,666
)
Organizational transformation and termination benefits





8,289

8,289

Adjusted EBITDA attributable to Forest City Realty Trust, Inc.
$
76,760

$
46,909

$
21,605

$
145,274

$
7,897

$
3,255

$
156,426

 
 
 
 
 
 
 
 
Three Months Ended September 30, 2017
Office
Apartments
Retail
Total Operations
Development
Corporate
Total
Net earnings (loss) attributable to Forest City Realty Trust, Inc.
$
39,073

$
50,708

$
12,017

$
101,798

$
(45,620
)
$
(50,724
)
$
5,454

Depreciation and amortization
29,408

22,347

17,654

69,409

7,814

628

77,851

Interest expense





50,836

50,836

Amortization of mortgage procurement costs





1,807

1,807

Income tax expense





304

304

Impairment of consolidated real estate




44,288


44,288

Impairment of unconsolidated real estate


10,600

10,600



10,600

Net (gain) loss on disposition of rental properties
1,182

1,876

(517
)
2,541



2,541

Gain on disposition of unconsolidated entities

(27,721
)

(27,721
)


(27,721
)
Organizational transformation and termination benefits





2,633

2,633

Adjusted EBITDA attributable to Forest City Realty Trust, Inc.
$
69,663

$
47,210

$
39,754

$
156,627

$
6,482

$
5,484

$
168,593



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