Howard Hughes Holdings Inc
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Equity
| FINANCIAL STATEMENTS | Table of ContentsIndex to Financial Statements |
|---|
CONSOLIDATED STATEMENTS OF EQUITY
| Retained · Accumulated | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Additional · Earnings · Other · Total | |||||||||||||||||||
| thousands except shares · Common Stock · Paid-In · (Accumulated · Comprehensive · Treasury Stock · Stockholders' · Noncontrolling · Total | |||||||||||||||||||
| Shares · Amount · Capital · Deficit) · Income (Loss) · Shares · Amount · Equity · Interests · Equity | |||||||||||||||||||
| Balance, December 31, 2020 | 56,042,814 | $562 | $3,947,278 | $(72,556) | $(38,590) | (1,070,558) | $(122,091) | $3,714,603 | $420 | $3,715,023 | |||||||||
| Net income (loss), excluding income of $(7,431) attributable to redeemable noncontrolling interest | — | — | — | 56,100 | — | — | — | 56,100 | 255 | 56,355 | |||||||||
| Interest rate swaps, net of tax expense (benefit) of $5,080 | — | — | — | — | 17,960 | — | — | 17,960 | — | 17,960 | |||||||||
| Pension adjustment, net of tax expense (benefit) of $136 | — | — | — | — | 452 | — | — | 452 | — | 452 | |||||||||
| Share of investee's other comprehensive income, net of tax expense (benefit) of $1,627 | — | — | — | — | 5,721 | — | — | 5,721 | — | 5,721 | |||||||||
| Issuance of common shares | — | — | (5) | — | — | — | — | (5) | — | (5) | |||||||||
| Repurchase of common shares | — | — | — | — | — | (1,023,284) | (96,620) | (96,620) | — | (96,620) | |||||||||
| Stock plan activity | 130,462 | 1 | 13,145 | — | — | (13,773) | (1,362) | 11,784 | — | 11,784 | |||||||||
| Balance, December 31, 2021 | 56,173,276 | $563 | $3,960,418 | $(16,456) | $(14,457) | (2,107,615) | $(220,073) | $3,709,995 | $675 | $3,710,670 | |||||||||
| Net income (loss) | — | — | — | 184,533 | — | — | — | 184,533 | 103 | 184,636 | |||||||||
| Interest rate swaps, net of tax expense (benefit) of $9,460 | — | — | — | — | 31,698 | — | — | 31,698 | — | 31,698 | |||||||||
| Pension adjustment, net of tax expense (benefit) of $(71) | — | — | — | — | (183) | — | — | (183) | — | (183) | |||||||||
| Deconsolidation of Ward Village homeowners’ associations | — | — | — | — | — | — | — | — | (211) | (211) | |||||||||
| Teravalis noncontrolling interest | — | — | — | — | — | — | — | — | 65,046 | 65,046 | |||||||||
| Reclassification of the Company’s share of previously deferred derivative gains, net of tax expense of $1,912 (a) | — | — | — | — | (6,723) | — | — | (6,723) | — | (6,723) | |||||||||
| Repurchase of common shares | — | — | — | — | — | (4,283,874) | (388,372) | (388,372) | — | (388,372) | |||||||||
| Stock plan activity | 52,997 | 1 | 12,143 | — | — | (32,787) | (2,593) | 9,551 | — | 9,551 | |||||||||
| Balance, December 31, 2022 | 56,226,273 | $564 | $3,972,561 | $168,077 | $10,335 | (6,424,276) | $(611,038) | $3,540,499 | $65,613 | $3,606,112 | |||||||||
| Net income (loss) | — | — | — | (551,773) | — | — | — | (551,773) | 243 | (551,530) | |||||||||
| Interest rate swaps, net of tax expense (benefit) of $(2,729) | — | — | — | — | (9,322) | — | — | (9,322) | — | (9,322) | |||||||||
| Pension adjustment, net of tax expense (benefit) of $70 | — | — | — | — | 259 | — | — | 259 | — | 259 | |||||||||
| Teravalis noncontrolling interest | — | — | — | — | — | — | — | — | 219 | 219 | |||||||||
| Stock plan activity | 269,518 | 1 | 15,935 | — | — | (33,501) | (2,728) | 13,208 | — | 13,208 | |||||||||
| Other | — | — | — | — | — | — | — | — | (22) | (22) | |||||||||
| Balance, December 31, 2023 | 56,495,791 | $565 | $3,988,496 | $(383,696) | $1,272 | (6,457,777) | $(613,766) | $2,992,871 | $66,053 | $3,058,924 | |||||||||
(a)In March 2022, the Company completed the sale of its ownership interest in 110 North Wacker and released a net of $6.7 million from Accumulated other comprehensive income (loss), representing the Company’s $8.6 million share of previously deferred gains associated with the Venture’s derivative instruments net of tax expense of $1.9 million. See Note 2 -Investments in Unconsolidated Ventures for additional information.
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