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8-K
WASHINGTON PRIME GROUP INC. filed this Form 8-K on 07/26/2018
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NON-GAAP PRO-RATA FINANCIAL INFORMATION
 
 
 
PROPORTIONATE SHARE OF UNCONSOLIDATED PROPERTIES - STATEMENTS OF OPERATIONS
 
 
 
Washington Prime Group Inc.
 
 
 
(Unaudited, dollars in thousands)
 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2018
 
 
Six Months Ended June 30, 2018
 
 
 
WPG's Share of Unconsolidated Entities
 
 
WPG's Share of Unconsolidated Entities
 
 
 
 
 
 
 
 
Revenue:
 
 
 
 
 
 
Minimum rent
 
$
19,465

 
 
$
40,572

 
Overage rent
 
505

 
 
891

 
Tenant reimbursements
 
8,000

 
 
15,897

 
Other income
 
1,118

 
 
1,827

 
Total revenues
 
29,088

 
 
59,187

 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
Property operating
 
(6,244
)
 
 
(11,832
)
 
Real estate taxes
 
(3,438
)
 
 
(7,135
)
 
Advertising and promotion
 
(450
)
 
 
(673
)
 
Total recoverable expenses
 
(10,132
)
 
 
(19,640
)
 
Depreciation and amortization
 
(11,927
)
 
 
(23,375
)
 
Provision for credit losses
 
(216
)
 
 
(443
)
 
Ground rent
 
(1,571
)
 
 
(3,142
)
 
Total operating expenses
 
(23,846
)
 
 
(46,600
)
 
 
 
 
 
 
 
 
Operating Income
 
5,242

 
 
12,587

 
 
 
 
 
 
 
 
Interest expense, net
 
(6,120
)
 
 
(12,224
)
 
Income and other taxes
 
(17
)
 
 
(96
)
 
(Loss) income from unconsolidated entities, net
 
$
(895
)
 
 
$
267

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: The amounts above represent the company's pro-rata share based upon the percentage of ownership interest per joint venture entity in each amount indicated, but it should be noted that the company does not control the unconsolidated entities.
 
 
 
 
 
 
 

SUPPLEMENTAL INFORMATION | 21

©2013- WASHINGTON PRIME GROUP