MAC » Topics » (Loss) Gain on Sale or Write-down of Assets:

This excerpt taken from the MAC 8-K filed May 27, 2009.

(Loss) Gain on Sale or Write-down of Assets:

        The Company recorded a loss on sale or write down of assets of $31.8 million in 2008 relating to an $8.7 million write-off of development costs on projects the Company has determined not to pursue, a $19.2 million impairment charge to reduce the carrying value of land held for development and a $5.3 million adjustment to reduce the carrying value of Mervyn's stores that the Company had previously classified as held for sale (See "Management's Overview and Summary—Mervyn's.") The

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gain on sale or write-down of assets in 2007 of $12.1 million is primarily related to gain on sales of land.

    Discontinued Operations:

        Income from discontinued operations increased $82.5 million from 2007 to 2008. The increase is primarily due to the $99.1 million gain from the Rochester Redemption in 2008. See "Management's Overview and Summary—Acquisitions and Dispositions." As a result of the Rochester Redemption, the Company classified the results of operations for these properties to discontinued operations for all periods presented.

These excerpts taken from the MAC 10-K filed Feb 27, 2009.

(Loss) Gain on Sale or Write-down of Assets:

        The Company recorded a loss on sale or write down of assets of $31.8 million in 2008 relating to an $8.7 million write-off of development costs on projects the Company has determined not to pursue, a $19.2 million impairment charge to reduce the carrying value of land held for development and a $5.3 million adjustment to reduce the carrying value of Mervyn's stores that the Company had previously classified as held for sale (See "Management's Overview and Summary—Mervyn's.") The gain on sale or write-down of assets in 2007 of $12.1 million is primarily related to gain on sales of land.

    Discontinued Operations:

        Income from discontinued operations increased $98.8 million from 2007 to 2008. The increase is primarily due to the $99.1 million gain from the Rochester Redemption in 2008. See "Management's Overview and Summary—Acquisitions and Dispositions." As a result of the Rochester Redemption, the Company classified the results of operations for these properties to discontinued operations for all periods presented.

(Loss) Gain on Sale or Write-down of Assets:

        The Company recorded a loss on sale or write down of assets of $31.8 million in 2008 relating to an $8.7 million write-off of development costs on projects the Company has determined not to pursue, a $19.2 million impairment charge to reduce the carrying value of land held for development and a $5.3 million adjustment to reduce the carrying value of Mervyn's stores that the Company had previously classified as held for sale (See "Management's Overview and Summary—Mervyn's.") The gain on sale or write-down of assets in 2007 of $12.1 million is primarily related to gain on sales of land.

    Discontinued Operations:

        Income from discontinued operations increased $98.8 million from 2007 to 2008. The increase is primarily due to the $99.1 million gain from the Rochester Redemption in 2008. See "Management's Overview and Summary—Acquisitions and Dispositions." As a result of the Rochester Redemption, the Company classified the results of operations for these properties to discontinued operations for all periods presented.

(Loss) Gain on Sale or Write-down of Assets:





        The Company recorded a loss on sale or write down of assets of $31.8 million in 2008 relating to an $8.7 million
write-off of development costs on projects the Company has determined not to pursue, a $19.2 million impairment charge to reduce the carrying value of land held for development and
a $5.3 million adjustment to reduce the carrying value of Mervyn's stores that the Company had previously classified as held for sale (See "Management's Overview and
Summary—Mervyn's.") The gain on sale or write-down of assets in 2007 of $12.1 million is primarily related to gain on sales of land.





    Discontinued Operations:





        Income from discontinued operations increased $98.8 million from 2007 to 2008. The increase is primarily due to the
$99.1 million gain from the Rochester Redemption in 2008. See "Management's Overview and Summary—Acquisitions and Dispositions." As a result of the Rochester Redemption, the Company
classified the results of operations for these properties to discontinued operations for all periods presented.





This excerpt taken from the MAC 10-Q filed Nov 7, 2008.

(Loss) Gain on Sale or Write-down of Assets

        The Company recorded a loss on sale or write-down of assets of $4.0 million in 2008 and gain on sale of assets of $4.2 million in 2007. The loss on sale of assets in 2008 is primarily attributed to a $5.3 million adjustment to reduce the carrying value of Mervyn's stores that had been previously held for sale. (See Note 14—Discontinued Operations of the Company's Consolidated Financial Statements), offset in part by a gain on land of $1.4 million. The gain on sale of assets in 2007 is attributed to $4.1 million of gain on sales of land.

Discontinued Operations:

        Income from discontinued operations increased $97.3 million from 2007 to 2008. The increase is primarily due to the $99.3 million gain from the Rochester Redemption in 2008 (See "Management's Overview and Summary—Acquisitions and Dispositions"). As a result of the Rochester Redemption, the Company classified the results of operations for these properties to discontinued operations for both periods presented.

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