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SEC Filings

10-Q
FOREST CITY REALTY TRUST, INC. filed this Form 10-Q on 10/30/2018
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Segment Operating Results - Quarterly Comparison
The following tables present revenues, operating expenses and equity in earnings by segment for the three months ended September 30, 2018 compared with the three months ended September 30, 2017. Other results of operations are discussed on a consolidated basis. All amounts in the following tables are presented in thousands.
 
Office
Apartments
Retail
Total Operations
Development
Total
Revenues for the three months ended September 30, 2017
$
108,165

$
72,086

$
14,009

$
194,260

$
39,284

$
233,544

Increase (decrease) due to:
 
 
 
 
 
 
Comparable portfolio
4,692

3,298

42

8,032


8,032

Non-comparable properties (1) 
1,449

5,512

360

7,321

(3,569
)
3,752

Change in consolidation method due to change in control
8,445

(8,165
)

280


280

Recently disposed properties
(617
)
(1,850
)
(5,860
)
(8,327
)

(8,327
)
Land sales




(13,866
)
(13,866
)
Other
309

(1,457
)
(3,573
)
(4,721
)
(464
)
(5,185
)
Revenues for the three months ended September 30, 2018
$
122,443

$
69,424

$
4,978

$
196,845

$
21,385

$
218,230

 
Office
Apartments
Retail
Total Operations
Development
Corporate
Total
Operating expenses for the three months ended September 30, 2017
$
41,104

$
30,874

$
9,532

$
81,510

$
29,337

$
19,113

$
129,960

Increase (decrease) due to:
 
 
 
 
 
 
 
Comparable portfolio
1,720

4,197

269

6,186



6,186

Non-comparable properties (1) 
685

2,741

183

3,609

(576
)

3,033

Change in consolidation method due to change in control
2,663

(2,147
)

516



516

Recently disposed properties
(712
)
(1,261
)
(3,388
)
(5,361
)


(5,361
)
Land cost of sales




(10,578
)

(10,578
)
Organizational transformation and termination benefits





5,656

5,656

Development, management, corporate and other
(443
)
655

(1,570
)
(1,358
)
(4,885
)
(6,744
)
(12,987
)
Operating expenses for the three months ended September 30, 2018
$
45,017

$
35,059

$
5,026

$
85,102

$
13,298

$
18,025

$
116,425

 
Office
Apartments
Retail
Total Operations
Development
Corporate
Total
Equity in earnings (loss) for the three months ended September 30, 2017
$
5,139

$
9,790

$
20,511

$
35,440

$
(3,032
)
$
(24,113
)
$
8,295

Increase (decrease) due to:
 
 
 
 
 
 
 
Comparable portfolio
(76
)
1,018

(710
)
232



232

Non-comparable properties (1)

110


110

1,344


1,454

Recently disposed equity method properties
(1,753
)
(2,027
)
(6,514
)
(10,294
)


(10,294
)
Change in consolidation method due to change in control
(1,787
)
2,607


820



820

Land




350


350

Other

333

(433
)
(100
)
46

6,566

6,512

Equity in earnings (loss) for the three months ended September 30, 2018
$
1,523

$
11,831

$
12,854

$
26,208

$
(1,292
)
$
(17,547
)
$
7,369



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