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SEC Filings

8-K
WASHINGTON PRIME GROUP INC. filed this Form 8-K on 07/26/2018
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COMPONENTS OF MINIMUM RENTS, OTHER INCOME AND CORPORATE OVERHEAD
 
 
 
 
Washington Prime Group Inc.
 
 
 
 
 
 
 
(unaudited, dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2018
 
2017
 
2018
 
2017
 
 
 
 
 
 
 
 
 
 
Components of Minimum Rents:
 
 
 
 
 
 
 
 
  Base rent
$
115,800

 
$
121,937

 
$
231,352

 
$
252,022

 
  Mark-to-market adjustment
1,076

 
2,853

 
4,125

 
5,062

 
  Straight-line rents
1,164

 
377

 
2,023

 
831

 
  Temporary tenant rents
3,747

 
4,266

 
7,626

 
8,634

 
       Total Minimum Rents
$
121,787

 
$
129,433

 
$
245,126

 
$
266,549

 
 
 
 
 
 
 
 
 
 
Components of Other Income:
 
 
 
 
 
 
 
 
  Sponsorship and other ancillary property income
$
2,054

 
$
2,309

 
$
3,703

 
$
4,076

 
  Fee income
2,140

 
1,941

 
4,482

 
3,523

 
  Lease termination income
258

 
1,944

 
2,024

 
2,780

 
  Other
3,480

 
124

 
4,066

 
1,595

 
       Total Other Income
$
7,932

 
$
6,318

 
$
14,275

 
$
11,974

 
 
 
 
 
 
 
 
 
 
Components of Corporate Overhead:
 
 
 
 
 
 
 
 
General & administrative
$
11,191

 
$
9,091

 
$
20,845

 
$
17,919

 
Third party management fees & internal corporate overhead allocated to operating expense
5,382

 
5,008

 
10,602

 
10,481

 
       Total Corporate Overhead
$
16,573

 
$
14,099

 
$
31,447

 
$
28,400

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


SUPPLEMENTAL INFORMATION | 4

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