CBL & ASSOCIATES LIMITED PARTNERSHIP [Rocket]

In millions, except per share items	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Malls	520.6	699.7	783.2	848.0	928.2	944.6	933.7	930.1
All Other	55.2	69.0	75.4	79.3	100.0	110.5	66.9	63.9
Associated Centers							41.5	41.7
Community Centers							18.6	17.9
Total revenues [+]	18.5	25.2	25.3	927.3	1,028.3	1,055.0	1,060.7	1,053.6
Other								34.7
Revenue growth [+]	-26.4%	-0.3%	-97.3%	-9.8%	-2.5%	-0.5%	0.7%	5.1%
Malls	-25.6%	-10.7%	-7.6%	-8.6%	-1.7%	1.2%	0.4%	3.2%
All Other	-20.0%	-8.4%	-4.9%	-20.8%	-9.4%	65.2%	4.7%	33.0%
Associated Centers							-0.5%	3.8%
Community Centers							3.7%	34.2%
Cost of goods sold [+]	187.9	230.7	252.6	260.6	0.0	0.0	0.0	0.0
Maintenance and operations costs	-34.1	-46.3	-48.3	-48.6
Real estate taxes and insurance	-69.7	-75.5	-82.3	-83.9
Real estate or leased property costs	84.1	108.9	122.0	128.0
Gross profit	-169.3	-205.5	-227.4	666.7	1,028.3	1,055.0	1,060.7	1,053.6
Gross margin	-913.3%	-815.6%	-900.0%	71.9%	100.0%	100.0%	100.0%	100.0%
Selling, general and administrative [+]	53.4	64.2	61.5	58.5	63.3	62.1	50.3	48.9
General and administrative	53.4	64.2	61.5	58.5	63.3	62.1	50.3	48.9
Equity in earnings	-14.9	4.9	14.7	22.9	117.5	18.2	14.8	11.6
Other operating expenses	-791.9	-1,007.8	-1,035.7	-222.3	20.3	27.0	32.3	28.8
EBITDA [+]	554.3	743.1	761.5	853.5	1,062.1	984.1	993.0	987.5
EBITDA growth	-25.4%	-2.4%	-10.8%	-19.6%	7.9%	-0.9%	0.5%	5.6%
EBITDA margin	2989.5%	2949.6%	3014.5%	92.0%	103.3%	93.3%	93.6%	93.7%
Depreciation	213.6	253.2	272.1	285.8	284.0	286.1	277.3	259.9
EBITA	340.7	489.8	489.4	567.7	778.1	698.0	715.7	727.7
EBITA margin	1837.6%	1944.4%	1937.3%	61.2%	75.7%	66.2%	67.5%	69.1%
Amortization of intangibles	1.5	4.5	13.3	13.3	8.7	12.9	14.0	19.0
EBIT [+]	339.3	485.3	476.1	554.4	769.4	685.1	701.7	708.6
EBIT growth	-30.1%	1.9%	-14.1%	-27.9%	12.3%	-2.4%	-1.0%	4.3%
EBIT margin	1829.7%	1926.5%	1884.7%	59.8%	74.8%	64.9%	66.2%	67.3%
Non-recurring items [+]	246.5	301.3	174.5	77.6	116.8	105.9	17.9	70.0
Asset impairment	213.4	239.5	174.5	71.4	116.8	105.9	17.9	70.0
Interest expense, net [+]	194.3	203.5	218.2	217.0	216.3	229.3	239.8	231.9
Interest expense	200.7	206.3	220.0	218.7	216.3	229.3	239.8	231.9
Interest income	6.4	2.8	1.9	1.7
Other income (expense), net [+]	-250.8	-115.4	-181.1	-102.8	-436.3	-349.8	-444.0	-406.7
Gain (loss) on investments		67.2		-6.2	7.5	16.6	87.9	2.4
Gain (loss) on debt retirement	32.5	71.7		30.9		0.3		-9.1
Other								-28.8
Pre-tax income	-352.4	-134.9	-97.7	157.0	0.0	0.0	0.0	0.0
Income taxes	-16.8	-3.2	1.6	-1.9	2.1	-2.9	-4.5	-1.3
Tax rate	4.8%	2.3%
Minority interest	19.8	23.7	19.7	-25.4
Net income	-332.5	-153.7	-123.5	76.0	195.5	0.0	253.0	115.3
Net margin	-1793.3%	-610.0%	-488.7%	8.2%	19.0%	0.0%	23.8%	10.9%

Basic EPS [+]	($1.75)	($0.89)	($0.72)	$0.44	$0.53	$0.00	$0.68	$0.32
Growth	97.2%	23.8%	-261.0%	-15.8%		-100.0%	115.6%	-73.6%
Diluted EPS [+]	($1.75)	($0.89)	($0.72)	$0.44	$0.53	$0.00	$0.68	$0.32
Growth	97.2%	23.8%	-261.0%	-15.7%		-100.0%	115.6%	-73.6%

Dividends per share [+]		$0.08	$0.68	$995.00
Growth	-100.0%	-88.9%	-99.9%

Shares outstanding (basic) [+]	190.3	173.4	172.5	171.1	370.5	370.2	369.9	363.6
Growth	9.7%	0.6%	0.8%	-53.8%	0.1%	0.1%	1.7%	134.9%
Shares outstanding (diluted) [+]	190.3	173.4	172.5	171.1	370.7	370.3	369.9	363.6
Growth	9.7%	0.6%	0.8%	-53.8%	0.1%	0.1%	1.7%	134.9%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.