CBL & ASSOCIATES PROPERTIES INC
For the period ended Jun 30, 2026. Filed Aug 7, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 7, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-08.
0001193125-26-214023
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-07.
0001193125-26-339651
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 38 previous paragraphs and 50 current paragraphs.
28 unchanged; 8 reworded; 6 added; 2 removed; 0 previous and 8 current paragraphs rearranged.
Tables are not compared: 1 previous and 1 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (6)
Current report
Rental revenues were $5.6 million higher;
Current report
Interest expense was $1.2 million lower;
Current report
Loss on impairment was $1.5 million lower.
Current report
Rental revenues were $9.6 million higher;
Current report
Interest expense was $5.6 million lower;
Current report
Loss on impairment was $1.5 million lower.
Removed paragraphs (2)
Previous report
Rental revenues were $4.0 million higher;
Previous report
Interest expense was $4.3 million lower;
Reworded paragraphs (8)
Previous wording
Gain on deconsolidation was $35.3 million higher;
Current wording
Gain on deconsolidation was $5.9 million higher;
Previous wording
Depreciation and amortization expense was $7.4 million lower;
Current wording
Depreciation and amortization expense was $3.4 million lower;
Previous wording
Equity in earnings was $3.4 million higher;
Current wording
Equity in earnings was $15.9 million higher;
Previous wording
Property operating expense was $2.4 million higher.
Current wording
Property operating expense was $2.2 million higher.
Previous wording
Real estate tax expense was $1.7 million lower.
Current wording
Real estate tax expense was $2.6 million lower;
Previous wording
General and administrative expense was $2.1 million lower; and
Current wording
General and administrative expense was $2.5 million lower; and
Previous wording
Gain on sales of real estate assets was $20.1 million lower; and
Current wording
Gain on sales of real estate assets was $7.8 million lower; and
Previous wording
Our focus is on continuing to execute our strategy to improve occupancy, drive rent growth and transform the offerings available at our properties to include a targeted mix of retail, service, dining, entertainment and other non-retail uses, primarily through the re-tenanting of former anchor locations as well as diversification of in-line tenancy. This operational strategy is also supported by our balance sheet strategy of reducing overall debt, extending our debt maturity schedule and lowering our overall cost of borrowings to limit maturity risk, as well as improving net cash flow and enhancing enterprise value. During the first quarter of 2026, we reduced our debt balance and extended our debt maturity schedule through the refinancing of the $634.0 million secured term loan with two new loans, which extended the maturity date five years. Additionally, we acquired Gateway Mall in Lincoln, NE for approximately $43.8 million consistent with our strategic focus on growing our mall portfolio and increasing cash flow through capital recycling.
Current wording
Our focus is on continuing to execute our strategy to improve occupancy, drive rent growth and transform the offerings available at our properties to include a targeted mix of retail, service, dining, entertainment and other non-retail uses, primarily through the re-tenanting of former anchor locations as well as diversification of in-line tenancy. This operational strategy is also supported by our balance sheet strategy of reducing overall debt, extending our debt maturity schedule and lowering our overall cost of borrowings to limit maturity risk, as well as improving net cash flow and enhancing enterprise value. During the first half of 2026, we reduced our debt balance and extended our debt maturity schedule through refinancings, such as the refinancing of the $634.0 million secured term loan with two new loans, which extended the maturity date five years. Additionally, we acquired Gateway Mall in Lincoln, NE for approximately $43.8 million and sold Hammock Landing for $78.5 million consistent with our strategic focus on growing our mall portfolio and increasing cash flow through capital recycling.
Rearranged current paragraphs (8)
Current report — wording carried from elsewhere
Gain on sales of real estate assets was $12.3 million higher; and
Current report — wording carried from elsewhere
Significant items that affected comparability between the six-month periods include:
Current report — wording carried from elsewhere
Items increasing net income for the six months ended June 30, 2026 compared to the prior-year period:
Current report — wording carried from elsewhere
Gain on deconsolidation was $41.3 million higher;
Current report — wording carried from elsewhere
Depreciation and amortization expense was $10.9 million lower;
Current report — wording carried from elsewhere
Equity in earnings was $19.2 million higher;
Current report — wording carried from elsewhere
Items decreasing net income for the six months ended June 30, 2026 compared to the prior-year period:
Current report — wording carried from elsewhere
Property operating expense was $4.6 million higher.