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Real Estate for Everyday Retail
$32.37 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 Q2 YTD 6/30/2017 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 Q2 YTD 6/30/2017 USD

Revenues

Rentals, net 477,340 503,128 502,464 537,265 283,781
Other 11,855 11,278 10,380 12,290 5,905
Total 489,195 514,406 512,844 549,555 289,686

Expenses

Depreciation and amortization 146,763 150,356 145,940 162,535 84,606
Operating 97,099 95,318 94,244 98,855 56,131
Real estate taxes, net 57,515 60,768 60,289 66,358 39,149
Impairment loss 2,579 1,024 153 98 15,012
General and administrative 25,371 24,902 27,524 27,266 14,030
Total 329,327 332,368 328,150 355,112 208,928
Operating Income 159,868 182,038 184,694 194,443 80,758
Interest Expense, net (96,312) (94,725) (87,783) (83,003) (41,555)
Interest and Other Income 7,685 3,756 4,563 2,569 3,040
Gain on Sale and Acquisition of Real Estate Joint Venture and Partnership Interests 33,670 1,718 879 48,322 0
(Provision) Benefit for Income Taxes (7,046) 1,261 (52) (6,856) 2,612
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net 35,112 22,317 19,300 20,642 12,747
Income from Continuing Operations 132,977 116,365 121,601 176,117 57,602
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 47,987
Net Income 265,156 307,579 181,222 276,831 105,589
Less - Net Income Attributable to Noncontrolling Interests (44,894) (19,571) (6,870) (37,898) (10,911)
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 94,678

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 0.74

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 0.74

Comprehensive Income

Net income 265,156 307,579 181,222 276,831 105,589

Other Comprehensive Income (Loss)

Net unrealized gain on investments, net of taxes 340 354 (99) 407 456
Realized gain on investments 0 (38) 0 0 NA
Realized (loss) gain on derivatives 5,893 0 5,007 (2,084) NA
Net unrealized loss on derivatives 530 131 (3,061) (1,204) (106)
Reclassification adjustment of derivatives and designated hedges into net income 2,299 2,052 2,798 1,531 164
Retirement liability adjustment 11,479 (10,733) 147 (167) 746
Total 20,541 (8,234) 4,792 (1,517) 1,260
Comprehensive Income 285,697 299,345 186,014 275,314 106,849
Comprehensive Income Attributable to Noncontrolling Interests (44,894) (19,571) (6,870) (37,898) (10,911)
Comprehensive Income Adjusted for Noncontrolling Interests 240,803 279,774 179,144 237,416 95,938
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