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Real Estate for Everyday Retail®
$26.45 NYSE: WRI
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As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q2 YTD 6/30/2019 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD 2019 Q2 YTD 6/30/2019 USD

Revenues

Rentals, net 502,464 537,265 560,643 516,502 239,288
Other 10,380 12,290 12,520 14,645 6,510
Total Revenues 512,844 549,555 573,163 531,147 245,798

Operating Expenses

Depreciation and amortization 145,940 162,535 167,101 161,838 68,939
Operating 94,244 98,855 109,310 90,554 47,015
Real estate taxes, net 60,289 66,358 75,636 69,268 31,867
Impairment loss 153 98 15,257 10,120 74
General and administrative 27,524 26,607 28,052 25,040 18,461
Total Operating Expenses 328,150 354,453 395,356 356,820 166,356
Operating Income 184,694 NA NA NA NA

Other Income (Expense)

Interest expense, net (87,783) (83,003) (80,326) (63,348) (30,242)
Interest and other income (expense) 4,563 1,910 7,532 2,807 6,305
Gain on sale of property 59,621 100,714 218,611 207,865 69,848
Gain on sale and acquisition of real estate joint venture and partnership interests 879 48,322 0 0 NA
Total Other Income NA 67,943 145,817 147,324 45,911
Income Before Income Taxes and Equity in Earnings of Real Estate Joint Ventures and Partnerships NA 263,045 323,624 321,651 125,353
Provision for Income Taxes (52) (6,856) 17 (1,378) (661)
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net 19,300 20,642 27,074 25,070 12,082
Income from Continuing Operations 121,601 NA NA NA NA
Net Income 181,222 276,831 350,715 345,343 136,774
Less - Net Income Attributable to Noncontrolling Interests (6,870) (37,898) (15,441) (17,742) (3,299)
Net Income Adjusted for Noncontrolling Interests 174,352 NA NA NA NA
Dividends on Preferred Shares (3,830) NA NA NA NA
Redemption Costs of Preferred Shares (9,687) NA NA NA NA
Net Income Attributable to Common Shareholders 160,835 238,933 335,274 327,601 133,475

Earnings Per Common Share - Basic

Net income attributable to common shareholders 1.31 1.90 2.62 2.57 1.04

Earnings Per Common Share - Diluted

Net income attributable to common shareholders 1.29 1.87 2.60 2.55 1.03

COMPREHENSIVE INCOME

Net Income 181,222 276,831 350,715 345,343 136,774
Cumulative effect adjustment of new accounting standards NA 0 0 (1,541) 0

Other Comprehensive Income (Loss)

Net unrealized gain on investments, net of taxes (99) 407 1,228 0 NA
Realized gain on investments 0 0 (651) 0 NA
Realized loss on derivatives 5,007 (2,084) 0 0 NA
Net unrealized gain on derivatives (3,061) (1,204) 1,063 1,379 0
Reclassification adjustment of derivatives and designated hedges into net income 2,798 1,531 (42) (4,302) (440)
Retirement liability adjustment 147 (167) 1,393 85 587
Total 4,792 (1,517) 2,991 (2,838) 147
Comprehensive Income 186,014 275,314 353,706 340,964 136,921
Comprehensive Income Attributable to Noncontrolling Interests (6,870) (37,898) (15,441) (17,742) (3,299)
Comprehensive Income Adjusted for Noncontrolling Interests 179,144 237,416 338,265 323,222 133,622
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