CBL & Associates Properties Inc. Q2 2024 10-Q Filing

TL;DR

**CBL & ASSOCIATES PROPERTIES INC. FILES Q2 10-Q - FINANCIALS OUT NOW**

AI Summary

CBL & Associates Properties Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data and disclosures related to their real estate portfolio are presented, including information on variable interest entities and loan structures.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational status of CBL & Associates Properties Inc., crucial for understanding their real estate investment trust performance.

Risk Assessment

Risk Level: medium — Real estate investment trusts can be sensitive to economic downturns and interest rate changes, impacting property values and rental income.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 2024-01-01 — Start of Reporting Period (Marks the beginning of the fiscal quarter for which financial information is reported.)
• 2023-06-30 — Prior Year Quarter End (Provides a comparative point for financial performance analysis.)

Key Players & Entities

• CBL & ASSOCIATES PROPERTIES INC (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 0000910612 (company) — Central Index Key for CBL & Associates Properties Inc.
• CHATTANOOGA (location) — City of business address
• DE (location) — State of incorporation

FAQ

Key Financial Figures

• $0.001 — e on which registered Common Stock, $0.001 par value CBL New York Stock Exchan

Filing Documents

• cbl-20240630.htm (10-Q) — 3379KB
• cbl-ex31_1.htm (EX-31.1) — 12KB
• cbl-ex31_2.htm (EX-31.2) — 12KB
• cbl-ex32_1.htm (EX-32.1) — 8KB
• cbl-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-24-094439.txt ( ) — 11972KB
• cbl-20240630.xsd (EX-101.SCH) — 1427KB
• cbl-20240630_htm.xml (XML) — 2371KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35 PART II OTHER INFORMATION 36 Item 1.

Legal Proceedings

Legal Proceedings 36 Item1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 3. Defaults Upon Senior Securities 36 Item 4. Mine Safety Disclosures 36 Item 5. Other Information 36 Item 6. Exhibits 37

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION

: Condensed Consolidated Finan cial Statements (Unaudited)

ITEM 1: Condensed Consolidated Finan cial Statements (Unaudited) CBL & Associates Properties, Inc. Condensed Consolida ted Balance Sheets (In thousands, except share data) (Unaudited) June 30, December 31, ASSETS (1) 2024 2023 Real estate assets: Land $ 582,949 $ 585,191 Buildings and improvements 1,219,644 1,216,054 1,802,593 1,801,245 Accumulated depreciation ( 263,950 ) ( 228,034 ) 1,538,643 1,573,211 Developments in progress 8,905 8,900 Net investment in real estate assets 1,547,548 1,582,111 Cash and cash equivalents 57,679 34,188 Restricted cash 83,559 88,888 Available-for-sale securities - at fair value (amortized cost of $ 238,300 and $ 261,869 as of June 30, 2024 and December 31, 2023, respectively) 238,108 262,142 Receivables: Tenant 38,213 43,436 Other 2,795 2,752 Investments in unconsolidated affiliates 82,553 76,458 In-place leases, net 127,818 157,639 Intangible lease assets and other assets 143,428 158,291 $ 2,321,701 $ 2,405,905 LIABILITIES AND EQUITY Mortgage and other indebtedness, net $ 1,853,341 $ 1,888,803 Accounts payable and accrued liabilities 169,374 186,485 Total liabilities (1) 2,022,715 2,075,288 Shareholders' equity: Common stock, $ .001 par value, 200,000,000 shares authorized, 31,551,142 and 31,975,645 issued and outstanding as of June 30, 2024 and December 31, 2023, respectively (excluding 12,534 treasury shares as of June 30, 2024 and excluding 34 treasury shares as of December 31, 2023) 32 32 Additional paid-in capital 709,307 719,125 Accumulated other comprehensive income 643 610 Accumulated deficit ( 401,193 ) ( 380,446 ) Total shareholders' equity 308,789 339,321 Noncontrolling interests ( 9,803 ) ( 8,704 ) Total equity 298,986 330,617 $ 2,321,701 $ 2,405,905 (1) As of June 30, 2024, includes $ 178,452 of assets related to

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