$CBL
CBL & ASSOCIATES PROPERTIES INC

2022 Q3 Form 10-Q Financial Statement

#000156459022029498 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $136.3M $137.0M $108.8M
YoY Change -9.37% 0.33% -29.4%
Cost Of Revenue $48.54M $45.80M $48.54M
YoY Change 2.72% 5.24% 6.23%
Gross Profit $87.74M $91.22M $108.2M
YoY Change -14.91% -1.96% -0.25%
Gross Profit Margin 64.38% 66.58% 99.42%
Selling, General & Admin $14.63M $18.45M $14.95M
YoY Change 8.32% 63.72% -173.42%
% of Gross Profit 16.67% 20.23% 13.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $61.05M $64.48M $49.50M
YoY Change 31.35% 35.74% -6.58%
% of Gross Profit 69.58% 70.68% 45.75%
Operating Expenses $75.68M $82.93M $80.94M
YoY Change 26.16% 41.11% 148.11%
Operating Profit $12.06M $8.296M $27.28M
YoY Change -72.04% -75.8% -64.04%
Interest Expense $37.65M $55.12M $195.5M
YoY Change 97.76% 147.17% -574.79%
% of Operating Profit 312.13% 664.38% 716.68%
Other Income/Expense, Net -$29.51M -$51.08M -$170.6M
YoY Change 29.19% 17.44%
Pretax Income -$14.99M -$44.28M -$563.5M
YoY Change -66.02% 399.97% 609.9%
Income Tax $2.422M -$472.0K -$5.885M
% Of Pretax Income
Net Earnings -$14.29M -$41.39M -$151.5M
YoY Change -65.74% 365.98% 155.54%
Net Earnings / Revenue -10.49% -30.21% -139.23%
Basic Earnings Per Share -$0.47 -$1.34 -$7.50
Diluted Earnings Per Share -$0.47 -$1.34 -$30.40M
COMMON SHARES
Basic Shares Outstanding 31.81M 30.97K 20.21K
Diluted Shares Outstanding 30.97K 30.97K 20.21K

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $85.75M $177.1M $169.6M
YoY Change -68.0% 23.07% 174.44%
Cash & Equivalents $85.75M $177.1M $169.6M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $32.29M $27.26M $25.19M
Other Receivables $3.441M $4.084M $4.409M
Total Short-Term Assets $121.5M $208.4M $199.2M
YoY Change -64.75% -3.12% 16.2%
LONG-TERM ASSETS
Property, Plant & Equipment $1.684B $1.699B $1.769B
YoY Change -48.65% -49.8% -51.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $81.81M $85.69M $103.7M
YoY Change -76.58% -67.18% -62.89%
Other Assets $82.97M $81.79M $66.64M
YoY Change -49.05% -36.27% 11.18%
Total Long-Term Assets $2.605B $2.566B $2.747B
YoY Change -32.91% -36.62% -35.71%
TOTAL ASSETS
Total Short-Term Assets $121.5M $208.4M $199.2M
Total Long-Term Assets $2.605B $2.566B $2.747B
Total Assets $2.727B $2.775B $2.946B
YoY Change -35.51% -34.93% -33.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $149.0M $146.4M $184.4M
YoY Change -26.62% -22.28% 6.35%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $149.0M $146.4M $184.4M
YoY Change -26.62% -22.28% 6.35%
LONG-TERM LIABILITIES
Long-Term Debt $2.017B $2.035B $2.209B
YoY Change 97.89% 106.1% 86.41%
Other Long-Term Liabilities $121.7M $131.1M $151.9M
YoY Change -95.23% -94.94% -94.05%
Total Long-Term Liabilities $2.138B $2.167B $2.360B
YoY Change -40.11% -39.47% -36.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $149.0M $146.4M $184.4M
Total Long-Term Liabilities $2.138B $2.167B $2.360B
Total Liabilities $2.287B $2.313B $2.545B
YoY Change -39.37% -38.61% -34.95%
SHAREHOLDERS EQUITY
Retained Earnings -$263.9M -$241.6M -$151.5M
YoY Change -89.59%
Common Stock $32.00K $32.00K $21.00K
YoY Change -98.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $445.2M $464.3M $396.2M
YoY Change
Total Liabilities & Shareholders Equity $2.727B $2.775B $2.946B
YoY Change -35.51% -34.93% -33.7%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$14.29M -$41.39M -$151.5M
YoY Change -65.74% 365.98% 155.54%
Depreciation, Depletion And Amortization $61.05M $64.48M $49.50M
YoY Change 31.35% 35.74% -6.58%
Cash From Operating Activities $65.73M $45.66M $57.05M
YoY Change -8.29% -32.58% -23.09%
INVESTING ACTIVITIES
Capital Expenditures -$19.15M -$8.898M -$9.515M
YoY Change 131.44% 27.64% 69.46%
Acquisitions
YoY Change
Other Investing Activities -$91.38M $14.03M $311.0K
YoY Change -188.49% -73.88% -100.42%
Cash From Investing Activities -$110.5M $5.132M -$139.0M
YoY Change -216.35% -89.02% 76.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -45.34M -37.09M -12.12M
YoY Change 470.51% 254.63% -18.07%
NET CHANGE
Cash From Operating Activities 65.73M 45.66M 57.05M
Cash From Investing Activities -110.5M 5.132M -139.0M
Cash From Financing Activities -45.34M -37.09M -12.12M
Net Change In Cash -90.13M 13.70M -94.08M
YoY Change -156.79% -86.83% 382.23%
FREE CASH FLOW
Cash From Operating Activities $65.73M $45.66M $57.05M
Capital Expenditures -$19.15M -$8.898M -$9.515M
Free Cash Flow $84.88M $54.56M $66.56M
YoY Change 6.17% -26.96% -16.57%

Facts In Submission

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CY2021Q2 cbl Amortization Of Deferred Compensation
AmortizationOfDeferredCompensation
256000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Other Longterm Incentive Plans Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition
94000
CY2021Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
343000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
497084000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
401100000
CY2022Q1 cbl Net Income Loss Excluding Amount Recognized In Temporary Equity
NetIncomeLossExcludingAmountRecognizedInTemporaryEquity
-43223000
CY2022Q1 us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
42000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2743000
CY2022Q1 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
10982795
cbl Distributions In Excess Of Equity In Earnings Of Unconsolidated Affiliates
DistributionsInExcessOfEquityInEarningsOfUnconsolidatedAffiliates
17059000
CY2022Q1 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
152538000
CY2022Q1 cbl Noncontrolling Interest Increase Decrease From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseDecreaseFromSubsidiaryEquityIssuance
143000
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
513343000
CY2022Q2 cbl Net Income Loss Excluding Amount Recognized In Temporary Equity
NetIncomeLossExcludingAmountRecognizedInTemporaryEquity
-43805000
CY2022Q2 us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
-33000
CY2022Q2 us-gaap Dividends Common Stock
DividendsCommonStock
7954000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2818000
CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2744000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
461625000
us-gaap Profit Loss
ProfitLoss
-87028000
us-gaap Profit Loss
ProfitLoss
-37841000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
133419000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
95611000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
98923000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1496000
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
11078000
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
385000
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
19000
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
-192000
cbl Gain Losson Insurance Proceeds
GainLossonInsuranceProceeds
803000
us-gaap Gain Loss On Investments
GainLossOnInvestments
36250000
us-gaap Gain Loss On Investments
GainLossOnInvestments
55131000
us-gaap Noncash Project Abandonment Costs
NoncashProjectAbandonmentCosts
834000
us-gaap Noncash Project Abandonment Costs
NoncashProjectAbandonmentCosts
287000
us-gaap Share Based Compensation
ShareBasedCompensation
5561000
us-gaap Share Based Compensation
ShareBasedCompensation
739000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
252000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
57182000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
10606000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-7351000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
12583000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
6676000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-2699000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
15525000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1334000
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-937000
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-19352000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
513000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2111000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-36246000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
20784000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
88089000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
130497000
cbl Payments To Additions To Real Estate Assets
PaymentsToAdditionsToRealEstateAssets
14660000
cbl Payments To Additions To Real Estate Assets
PaymentsToAdditionsToRealEstateAssets
13836000
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
1569000
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
5612000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
299993000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
319887000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
299934000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
368380000
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
743000
us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
ProceedsFromSaleAndCollectionOfMortgageNotesReceivable
33000
us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
ProceedsFromSaleAndCollectionOfMortgageNotesReceivable
425000
cbl Investments In And Advancesto Subsidiariesand Affiliates
InvestmentsInAndAdvancestoSubsidiariesandAffiliates
1061000
cbl Investments In And Advancesto Subsidiariesand Affiliates
InvestmentsInAndAdvancestoSubsidiariesandAffiliates
-124000
cbl Distributions In Excess Of Equity In Earnings Of Unconsolidated Affiliates
DistributionsInExcessOfEquityInEarningsOfUnconsolidatedAffiliates
4790000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
934000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1420000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2690000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
44188000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
425000000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
475322000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
23854000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
15196000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1000
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
143000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
11000
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
2744000
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
354000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-68119000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-24220000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
22660000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
150465000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
236198000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
121722000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
258858000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
272187000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
177065000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
143874000
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
47155000
CY2021Q2 us-gaap Restricted Cash
RestrictedCash
100626000
CY2022Q2 us-gaap Escrow Deposit
EscrowDeposit
34638000
CY2021Q2 us-gaap Escrow Deposit
EscrowDeposit
27687000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
258858000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
272187000
us-gaap Interest Paid Net
InterestPaidNet
64626000
us-gaap Interest Paid Net
InterestPaidNet
26755000
cbl Cash Paid For Reorganization Items
CashPaidForReorganizationItems
5648000
cbl Cash Paid For Reorganization Items
CashPaidForReorganizationItems
35602000
CY2022Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
24
CY2022Q2 cbl Number Of Regional Malls Open Air Centers Owned
NumberOfRegionalMallsOpenAirCentersOwned
50
CY2022Q2 cbl Number Of Outlet Centers Owned
NumberOfOutletCentersOwned
5
CY2022Q2 cbl Number Of Lifestyle Centers Owned
NumberOfLifestyleCentersOwned
5
CY2022Q2 cbl Number Of Open Air Centers Owned
NumberOfOpenAirCentersOwned
29
CY2022Q2 cbl Number Of Other Properties Owned
NumberOfOtherPropertiesOwned
5
CY2022Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
94
cbl Fresh Start Reporting Description
FreshStartReportingDescription
Upon the Company’s emergence from the Chapter 11 Cases (defined below), the Company adopted fresh start accounting, which resulted in a new basis of accounting and the Company becoming a new entity for financial reporting purposes. As a result of the application of fresh start accounting and the effects of the implementation of the third amended joint chapter 11 plan of CBL & Associates Properties, Inc. and its affiliated debtors (with technical modifications) (as modified at Docket No. 1521) (the “Plan”), the condensed consolidated financial statements after November 1, 2021 (the “Effective Date”) are not comparable with the condensed consolidated financial statements on or before that date.
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
131832000
CY2021Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
131316000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4474000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3643000
CY2022Q2 us-gaap Revenues
Revenues
137018000
CY2021Q2 us-gaap Revenues
Revenues
136561000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
267164000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
259491000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8417000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7759000
us-gaap Revenues
Revenues
277120000
us-gaap Revenues
Revenues
269745000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
20928000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
46987000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
42879000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
110794000
CY2022Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
96733000
CY2021Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
69543000
CY2022Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
35099000
CY2021Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
61773000
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
131832000
CY2021Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
131316000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
192381000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
140770000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
74783000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
118721000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
267164000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
259491000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
182052000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
324701000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
265550000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
206707000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
153831000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
104318000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
227526000
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1464685000
CY2022Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1886786000
CY2021Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
2059094000
CY2021Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
38500000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
57182000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
57182000
cbl Number Of Malls With Impairment
NumberOfMallsWithImpairment
3
CY2022Q2 cbl Number Of Entities Equity Method Of Accounting
NumberOfEntitiesEquityMethodOfAccounting
26
CY2022Q2 cbl Numberof Joint Venture Entities
NumberofJointVentureEntities
14
CY2021Q4 us-gaap Secured Debt
SecuredDebt
395395000
CY2021Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.1000
CY2022Q2 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
881513000
CY2021Q4 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
1066927000
CY2022Q2 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
1270871000
CY2021Q4 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
947002000
CY2022Q2 cbl Long Term Debt Net Excluding Deferred Financing Costs
LongTermDebtNetExcludingDeferredFinancingCosts
2152384000
CY2022Q2 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0465
CY2021Q4 cbl Long Term Debt Net Excluding Deferred Financing Costs
LongTermDebtNetExcludingDeferredFinancingCosts
2013929000
CY2021Q4 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0456
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
16028000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1567000
CY2022Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
100967000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
199153000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
2035389000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
1813209000
CY2022Q2 us-gaap Line Of Credit
LineOfCredit
360000000
CY2022Q2 us-gaap Debt Instrument Term
DebtInstrumentTerm
P5Y
CY2022Q2 us-gaap Line Of Credit Facility Collateral
LineOfCreditFacilityCollateral
90 outparcels and 13 open-air centers
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
162736000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
220033000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
108423000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
790796000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
281741000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
360896000
CY2022Q2 cbl Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
62855000
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1987480000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
162736000
CY2022Q2 cbl Property Level Debt And Related Obligations
PropertyLevelDebtAndRelatedObligations
859821000
CY2022Q2 us-gaap Notes Payable
NotesPayable
791698000
CY2022Q2 us-gaap Revenues
Revenues
137018000
CY2022Q2 cbl Property Operating Expenses
PropertyOperatingExpenses
45796000
CY2022Q2 us-gaap Interest Expense
InterestExpense
55117000
CY2022Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
3000
CY2022Q2 us-gaap Other General Expense
OtherGeneralExpense
834000
CY2022Q2 cbl Segment Profit Loss
SegmentProfitLoss
35274000
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
64476000
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
18450000
CY2022Q2 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
65000
CY2022Q2 us-gaap Investment Income Net
InvestmentIncomeNet
910000
CY2022Q2 us-gaap Reorganization Items
ReorganizationItems
-613000
CY2022Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
252000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-472000
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2039000
CY2022Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-43805000
CY2022Q2 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
7718000
CY2021Q2 us-gaap Revenues
Revenues
136561000
CY2021Q2 cbl Property Operating Expenses
PropertyOperatingExpenses
43517000
CY2021Q2 us-gaap Interest Expense
InterestExpense
22299000
CY2021Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
107000
CY2021Q2 us-gaap Other General Expense
OtherGeneralExpense
287000
CY2021Q2 cbl Segment Profit Loss
SegmentProfitLoss
70565000
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
47499000
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11269000
CY2021Q2 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-57000
CY2021Q2 us-gaap Investment Income Net
InvestmentIncomeNet
752000
CY2021Q2 us-gaap Reorganization Items
ReorganizationItems
17073000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
705000
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-4275000
CY2021Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-9561000
CY2021Q2 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
12287000
us-gaap Revenues
Revenues
277120000
cbl Property Operating Expenses
PropertyOperatingExpenses
94141000
us-gaap Interest Expense
InterestExpense
145776000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
19000
us-gaap Other General Expense
OtherGeneralExpense
834000
cbl Segment Profit Loss
SegmentProfitLoss
36388000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
133419000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
36524000
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
146000
us-gaap Investment Income Net
InvestmentIncomeNet
1064000
us-gaap Reorganization Items
ReorganizationItems
958000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
252000
us-gaap Gain Loss On Investments
GainLossOnInvestments
36250000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
329000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
10606000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-87028000
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
13548000
us-gaap Revenues
Revenues
269745000
cbl Property Operating Expenses
PropertyOperatingExpenses
92651000
us-gaap Interest Expense
InterestExpense
46429000
us-gaap Other General Expense
OtherGeneralExpense
287000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
-192000
cbl Segment Profit Loss
SegmentProfitLoss
130186000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
95611000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
23881000
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
801000
us-gaap Investment Income Net
InvestmentIncomeNet
1528000
us-gaap Reorganization Items
ReorganizationItems
40006000
us-gaap Gain Loss On Investments
GainLossOnInvestments
55131000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
57182000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1456000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-7351000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-37841000
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
16415000
CY2022Q2 us-gaap Assets
Assets
2774542000
CY2021Q4 us-gaap Assets
Assets
2945979000
cbl Environmental Liability Insurance Maximum Coverage Per Incident
EnvironmentalLiabilityInsuranceMaximumCoveragePerIncident
40000
cbl Environmental Liability Insurance Annual Coverage Limit.
EnvironmentalLiabilityInsuranceAnnualCoverageLimit.
40000
CY2022Q2 us-gaap Guarantees Fair Value Disclosure
GuaranteesFairValueDisclosure
582000
CY2021Q4 us-gaap Guarantees Fair Value Disclosure
GuaranteesFairValueDisclosure
732000
cbl Additions To Real Estate Assets Accrued But Not Yet Paid
AdditionsToRealEstateAssetsAccruedButNotYetPaid
10195000
cbl Additions To Real Estate Assets Accrued But Not Yet Paid
AdditionsToRealEstateAssetsAccruedButNotYetPaid
8332000
cbl Accrued Dividends And Distributions Payable
AccruedDividendsAndDistributionsPayable
7956000
dei Local Phone Number
LocalPhoneNumber
855-0001
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Amendment Flag
AmendmentFlag
false
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
1-12494
dei Entity Registrant Name
EntityRegistrantName
CBL & ASSOCIATES PROPERTIES, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
62-1545718
dei Entity Address Address Line1
EntityAddressAddressLine1
2030 Hamilton Place Blvd.
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 500
dei Entity Address State Or Province
EntityAddressStateOrProvince
TN
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
37421
dei Security12b Title
Security12bTitle
Common Stock, $0.001 par value
dei Trading Symbol
TradingSymbol
CBL
dei Security Exchange Name
SecurityExchangeName
NYSE
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
us-gaap Other General Expense
OtherGeneralExpense
834000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
252000
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
146000
us-gaap Interest Expense
InterestExpense
145776000
us-gaap Interest Expense
InterestExpense
46429000
cbl Gains Losses On Sales Of Real Estate Asset
GainsLossesOnSalesOfRealEstateAsset
-192000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-82101000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-35669000
CY2021Q2 cbl Adjustments To Additional Paid In Capital Noncontrolling Interest Other
AdjustmentsToAdditionalPaidInCapitalNoncontrollingInterestOther
-5000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
149999000
CY2022Q2 us-gaap Land
Land
592553000
CY2021Q4 us-gaap Land
Land
599283000
CY2022Q2 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
1171468000
CY2021Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
1173106000
CY2022Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
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CY2021Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1772389000
CY2022Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
77968000
CY2021Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
19939000
CY2022Q2 cbl Real Estate Investment Property Net Before Development In Process
RealEstateInvestmentPropertyNetBeforeDevelopmentInProcess
1686053000
CY2021Q4 cbl Real Estate Investment Property Net Before Development In Process
RealEstateInvestmentPropertyNetBeforeDevelopmentInProcess
1752450000
CY2022Q2 us-gaap Development In Process
DevelopmentInProcess
13201000
CY2021Q4 us-gaap Development In Process
DevelopmentInProcess
16665000
CY2022Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1699254000
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1769115000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
177065000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
169554000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
149996000
CY2022Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
27256000
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
25190000
CY2022Q2 us-gaap Other Receivables
OtherReceivables
4084000
CY2021Q4 us-gaap Other Receivables
OtherReceivables
4793000
CY2022Q2 us-gaap Equity Method Investments
EquityMethodInvestments
85685000
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
103655000
CY2022Q2 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
307887000
CY2021Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
384705000
CY2022Q2 cbl Finite Lived Intangible Asset Above Market Leases Net
FiniteLivedIntangibleAssetAboveMarketLeasesNet
201499000
CY2021Q4 cbl Finite Lived Intangible Asset Above Market Leases Net
FiniteLivedIntangibleAssetAboveMarketLeasesNet
234286000
CY2022Q2 cbl Intangible Lease And Other Assets
IntangibleLeaseAndOtherAssets
121749000
CY2021Q4 cbl Intangible Lease And Other Assets
IntangibleLeaseAndOtherAssets
104685000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
2035389000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
1813209000
CY2021Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
151871000
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
184404000
CY2021Q4 us-gaap Liabilities
Liabilities
2544879000
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
21000
CY2021Q2 us-gaap Costs And Expenses
CostsAndExpenses
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CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-151545000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
396199000
CY2021Q4 us-gaap Minority Interest
MinorityInterest
4901000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
401100000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2945979000
CY2021Q2 us-gaap Investment Income Net
InvestmentIncomeNet
752000
CY2022Q2 us-gaap Interest Expense
InterestExpense
55117000
us-gaap Profit Loss
ProfitLoss
-37841000
cbl Gains Losses On Sales Of Real Estate Asset
GainsLossesOnSalesOfRealEstateAsset
19000
us-gaap Reorganization Items
ReorganizationItems
958000
us-gaap Reorganization Items
ReorganizationItems
40006000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
329000

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