Print Page      Close Window     

SEC Filings

10-Q
FOREST CITY REALTY TRUST, INC. filed this Form 10-Q on 10/30/2018
Entire Document
 

Segment Operating Results - Year-to-Date Comparison
The following tables present revenues, operating expenses and equity in earnings by segment for the nine months ended September 30, 2018 compared with the nine 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 nine months ended September 30, 2017
$
339,087

$
216,498

$
43,803

$
599,388

$
86,604

$
685,992

Increase (decrease) due to:
 
 
 
 
 
 
Comparable portfolio
456

8,776

(284
)
8,948


8,948

Non-comparable properties (1) 
(449
)
19,982

776

20,309

(2,151
)
18,158

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

(20,939
)

(12,494
)

(12,494
)
Recently disposed properties
(4,035
)
(7,008
)
(19,529
)
(30,572
)

(30,572
)
Land sales




(21,949
)
(21,949
)
Other
1,271

(1,860
)
(9,731
)
(10,320
)
(2,275
)
(12,595
)
Revenues for the nine months ended September 30, 2018
$
344,775

$
215,449

$
15,035

$
575,259

$
60,229

$
635,488

 
Office
Apartments
Retail
Total Operations
Development
Corporate
Total
Operating expenses for the nine months ended September 30, 2017
$
128,618

$
96,968

$
30,882

$
256,468

$
71,236

$
60,102

$
387,806

Increase (decrease) due to:
 
 
 
 
 
 
 
Comparable portfolio
11

6,469

339

6,819



6,819

Non-comparable properties (1) 
799

8,092

219

9,110

(4,001
)

5,109

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

(5,670
)

(3,007
)


(3,007
)
Recently disposed properties
(3,540
)
(3,949
)
(9,765
)
(17,254
)


(17,254
)
Land cost of sales




(15,053
)

(15,053
)
Organizational transformation and termination benefits





15,167

15,167

Development, management, corporate and other
1,063

1,623

(9,011
)
(6,325
)
(11,778
)
(10,750
)
(28,853
)
Operating expenses for the nine months ended September 30, 2018
$
129,614

$
103,533

$
12,664

$
245,811

$
40,404

$
64,519

$
350,734

 
Office
Apartments
Retail
Total Operations
Development
Corporate
Total
Equity in earnings (loss) for the nine months ended September 30, 2017
$
12,437

$
30,753

$
63,165

$
106,355

$
(9,773
)
$
(72,748
)
$
23,834

Increase (decrease) due to:
 
 
 
 
 
 
 
Comparable portfolio
(1,517
)
707

(18
)
(828
)


(828
)
Non-comparable properties (1)

341


341

493


834

Recently disposed equity method properties
(2,035
)
(6,952
)
(15,863
)
(24,850
)
29


(24,821
)
Change in consolidation method due to change in control
(1,787
)
4,456


2,669



2,669

Land




869


869

Other
4

867

(1,350
)
(479
)
(5,278
)
15,238

9,481

Equity in earnings (loss) for the nine months ended September 30, 2018
$
7,102

$
30,172

$
45,934

$
83,208

$
(13,660
)
$
(57,510
)
$
12,038



46