Taubman Centers, Inc. (TCO) Financial Statements (2024 and earlier)

Company Profile

Business Address 200 E LONG LAKE RD
BLOOMFIELD HILLS, MI 48304-2324
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 6798 - Real Estate Investment Trusts (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2020
MRQ
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 102,76248,37242,49940,603206,635276,423
Cash and cash equivalents 102,76248,37242,49940,603206,635276,423
Prepaid expense 11,21310,12116,70315,44014,34613,059
Total current assets: 113,97558,49359,20256,043220,981289,482
Noncurrent Assets
Property, plant and equipment  4,717,5694,461,0454,173,9543,713,2153,262,505
Long-term investments and receivables 831,995673,616605,629604,808433,911370,004
Long-term investments 831,995673,616605,629604,808433,911370,004
Intangible assets, net (including goodwill) 1,7663,1224,4626,2648,52511,765
Intangible assets, net (excluding goodwill) 1,7663,1224,4626,2648,52511,765
Deferred income tax assets 5,032
Total noncurrent assets: 838,7935,394,3075,071,1364,785,0264,155,6513,644,274
Other undisclosed assets 3,562,697(1,108,694)(915,746)(830,157)(813,252)(718,855)
TOTAL ASSETS: 4,515,4654,344,1064,214,5924,010,9123,563,3803,214,901
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities 4,692,8714,644,2034,357,1204,072,9113,442,5692,794,958
Total liabilities: 4,692,8714,644,2034,357,1204,072,9113,442,5692,794,958
Temporary equity, carrying amount  7,8007,5008,704  
Equity
Equity, attributable to parent, including: (10,223)(92,873)22,24072,080112,807318,363
Preferred stock 262525252525
Common stock 612611608604602633
Additional paid in capital 741,026676,097675,333657,281652,146815,961
Accumulated other comprehensive loss (39,003)(25,376)(6,919)(35,916)(27,220)(15,068)
Other undisclosed equity, attributable to parent (712,884)(744,230)(646,807)(549,914)(512,746)(483,188)
Equity, attributable to noncontrolling interest (167,183)(215,024)(172,268)(142,783)8,004101,580
Total equity: (177,406)(307,897)(150,028)(70,703)120,811419,943
TOTAL LIABILITIES AND EQUITY: 4,515,4654,344,1064,214,5924,010,9123,563,3803,214,901

Income Statement (P&L) ($ in thousands)

9/30/2020
TTM
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues 661,054640,870629,165612,557557,172679,129
Operating leases, income statement, lease revenue369,896
Revenue, net574,105555,812519,087637,065
Cost of revenue (5,000)(3,728)(11,025)(4,047)(1,994)(2,900)
Cost of goods and services sold (5,000)     
Provision for loan, lease, and other losses  (3,728)
Financial services costs(11,025)(4,047)(1,994)(2,900)
Gross profit: 656,054637,142618,140608,510555,178676,229
Operating expenses (720,068)(609,477)(607,505)(514,822)(424,286)(524,489)
Operating income (loss): (64,014)27,66510,63593,688130,892151,740
Nonoperating income (expense) 27,44914,71423,82822,9275,256(42,807)
Loss from catastrophes   (7,000)   
Interest and debt expense (148,407)(133,197)(108,572)(86,285)(63,041)(127,175)
Other undisclosed income from continuing operations before equity method investments, income taxes 153,407136,925119,59790,33265,035130,075
Income (loss) from continuing operations before equity method investments, income taxes: (31,565)46,10745,488120,662138,142111,833
Income from equity method investments 49,16669,40467,37469,70156,22662,002
Income from continuing operations before income taxes: 17,601115,511112,862190,363194,368173,835
Income tax expense (benefit) (6,332)231(105)(2,212)(2,248)(2,267)
Income from continuing operations: 11,269115,742112,757188,151192,120171,568
Income before gain (loss) on sale of properties:11,269115,742112,757188,151192,120171,568
Gain on sale of properties, net of applicable income taxes154,466   4371,106,554
Other undisclosed net income 164,639     
Net income: 330,374115,742112,757188,151192,5571,278,122
Net loss attributable to noncontrolling interest (100,898)(32,256)(32,052)(55,538)(58,430)(385,109)
Net income attributable to parent: 229,47683,48680,705132,613134,127893,013
Preferred stock dividends and other adjustments (2,413)(2,396)(2,300)(2,117)(1,969)(6,018)
Other undisclosed net loss available to common stockholders, basic (23,138)(23,138)(23,138)(23,138)(23,138)(23,138)
Net income available to common stockholders, basic: 203,92557,95255,267107,358109,020863,857
Dilutive securities, effect on basic earnings per share 2,8288511425739810,933
Net income available to common stockholders, diluted: 206,75358,03755,381107,615109,418874,790

Comprehensive Income ($ in thousands)

9/30/2020
TTM
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income: 330,374115,742112,757188,151192,5571,278,122
Other comprehensive income (loss) (29,139)(25,087)40,924(12,308)(16,926)(8,468)
Comprehensive income: 301,23590,655153,681175,843175,6311,269,654
Comprehensive loss, net of tax, attributable to noncontrolling interest (95,049)(24,994)(43,956)(51,927)(53,458)(382,825)
Comprehensive income, net of tax, attributable to parent: 206,18665,661109,725123,916122,173886,829

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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