Real Estate for Everyday Retail
$30 NYSE: WRI
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As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q1 YTD 3/31/2017 USD
Source Document Currency Code 2013 Y 12/31/2015 USD 2014 Y 12/31/2016 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2016 USD 2017 Q1 YTD 3/31/2017 USD

Revenues

Rentals, net 477,340 503,128 502,464 537,265 140,818
Other 11,855 11,278 10,380 12,290 2,845
Total 489,195 514,406 512,844 549,555 143,663

Expenses

Depreciation and amortization 146,763 150,356 145,940 162,535 42,449
Operating 97,099 95,318 94,244 98,855 29,910
Real estate taxes, net 57,515 60,768 60,289 66,358 17,517
Impairment loss 2,579 1,024 153 98 14,986
General and administrative 25,371 24,902 27,524 27,266 7,516
Total 329,327 332,368 328,150 355,112 112,378
Operating Income 159,868 182,038 184,694 194,443 31,285
Interest Expense, net (96,312) (94,725) (87,783) (83,003) (21,082)
Interest and Other Income 7,685 3,756 4,563 2,569 1,754
Gain on Sale and Acquisition of Real Estate Joint Venture and Partnership Interests 33,670 1,718 879 48,322 0
Benefit (Provision) for Income Taxes (7,046) 1,261 (52) (6,856) 3,359
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net 35,112 22,317 19,300 20,642 5,317
Income from Continuing Operations 132,977 116,365 121,601 176,117 20,633
Operating Income from Discontinued Operations 12,214 342 0 0 NA
Gain on Sale of Property from Discontinued Operations 119,203 44,582 0 0 NA
Income from Discontinued Operations 131,417 44,924 0 0 NA
Gain on Sale of Property 762 146,290 59,621 100,714 15,763
Net Income 265,156 307,579 181,222 276,831 36,396
Less - Net Income Attributable to Noncontrolling Interests (44,894) (19,571) (6,870) (37,898) (5,570)
Net Income Adjusted for Noncontrolling Interests 220,262 288,008 174,352 238,933 NA
Dividends on Preferred Shares (18,173) (10,840) (3,830) 0 NA
Redemption Costs of Preferred Shares (17,944) 0 (9,687) 0 NA
Net Income Attributable to Common Shareholders 184,145 277,168 160,835 238,933 30,826

Earnings Per Common Share - Basic

Income from continuing operations attributable to common shareholders 0.76 1.91 1.31 1.90 NA
Income from discontinued operations 0.76 0.37 0 0 NA
Net income attributable to common shareholders 1.52 2.28 1.31 1.90 0.24

Earnings Per Common Share - Diluted

Income from continuing operations attributable to common shareholders 0.75 1.89 1.29 1.87 NA
Income from discontinued operations 0.75 0.36 0 0 NA
Net income attributable to common shareholders 1.50 2.25 1.29 1.87 0.24

Comprehensive Income

Net Income 265,156 307,579 181,222 276,831 36,396

Other Comprehensive Income (Loss)

Net unrealized gain on investments, net of taxes 340 354 (99) 407 298
Realized gain on investments 0 (38) 0 0 NA
Realized (loss) gain on derivatives 5,893 0 5,007 (2,084) NA
Net unrealized gain (loss) on derivatives 530 131 (3,061) (1,204) 389
Reclassification adjustment of derivatives and designated hedges into net income 2,299 2,052 2,798 1,531 139
Retirement liability adjustment 11,479 (10,733) 147 (167) 377
Total 20,541 (8,234) 4,792 (1,517) 1,203
Comprehensive Income 285,697 299,345 186,014 275,314 37,599
Comprehensive Income Attributable to Noncontrolling Interests (44,894) (19,571) (6,870) (37,898) (5,570)
Comprehensive Income Adjusted for Noncontrolling Interests 240,803 279,774 179,144 237,416 32,029
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